The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-21
SILVER'S USE AS MONEY.
SECRETARY FOSTER ON TIE BRUs
Sells CONFERENCE.

He is Not Disappointed at the Ad'
journment Until spring-Representa
tive Harter of Ohio Says Silver Is
Too Plentiful to Be Used as Money
Representative Pierce Thinks DIFF
fereutly.
WASHINGTON. Dec. 2O.-"I think there
Is popular Misrepresentation Ia regard to the
results so far of the international monetary
conference" said Secretary Charles Foster
this afternoon. ct is a great mistake" he
said, Ito assume shat the conference will
prove failure; the taking of a recess till
May was expected by the administration
when the American delegates left this
country. There is every reason for ex-
pecting the conference to reassemble at the
date fixed upon. The fact that Mr.. Roths-
child made any proposition for the in.
creased use Of silver, coupled with his
declaration that unless something were
done to insure its better use among the
nations very serious consequences would fol-
low, is in itself very hopeful indication
that the prominent bankers of the world
feel the necessity Of reaching an agreement
OF such a nature as will secure approximate
uniformity the world over in dealing with
the question. So far as my personal con-
nection with the conferences is concerned. all
that expected of the preliminary meeting
has been accomplished. The general feel
ing OF the conference is even more fsvora-
BILE than we anticipated
SILVER TOO PLENTIFUL.
Two views OF the results of the interna-
ttonal monetary conference are given by
the leaders of the opposing forces in the
House or Representatives. Mr. Harter of
Ohio, one Of the hard-moDey democrats,
says there can be no hope of inducing the
opposition to do anything for silver while
the Sherman law is in force and the United
States Is continuing the money purchases
OF bullion provided for by that law. sup,
pose," said he, you and 1 are walking
down the street together, and we
come to a wall that is leaning over the side
walk. COUP to you and try 20 hold is up
that 1t will not fall and crowd the passer. by.
call TO you and ask You to come help me,
but you say no, hold the wall up and will
pass on out Of danger That Is just the
situation about the silver matter. The
United States is standing under the great
mass Of silver In the market trying to hold
it up with the Sherman law for prop.
while the other nations are passing out
of harms ways and refuse TO lend their as
sistance.
HOPELESS TASK.
Oue Wudu 10 buo ub6 VI TylUR 10 na1n-
tain two metals of different market values
at a parity by legislation. 1t never has
been done and 1t is surprising In this day
to hear men of intelligence talk of the pos
sibilitY of doing it. The fact is that the
production of silver is increasing 50 rapidly
that there is no hope for its restoration to
use as q money metal. Why, was talk
ing with man in New York the other day
who told me of mine out west that yielded
over $50, 600 percar load Of ore. Why, the
only use that is left for it is to make pots
and pans and kettles out of it.n
REPRESENTATIVE PIERoE's VIEWS.
On the other hand, Mr.. Pierce of Ten
nessee, Mr.. BANDS chief lieutenant, says:
THE conference has demonstrated that the
United States must act alone in this mat
ter; that we cannot expect auy immediate
assistance from any European nation. 1t
was shown very conclusively that neither
England, Austria nor Germany will have
any part In increasing the monetary value
OF silver, and our only hope of assistance
lies in the Latin union. These great
countries, England, Germany aud Austria,
exercise such a powerful influence over the
countries Of the Latin union. however, that
there is little hope of their doing anything
until the United States leads the way. We
have got to take the first step toward the
reconciliation of silver alone, and the other
nations. some of them, will then follow
after MS