The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-01-12
TO REMONETIZE SILVER.
FREE COINAGE MEN FAVOR AN IN TER
NATIONAL CoNFERhNCE

Mr.. sprinEer's Declaration that No Free
Coinage Bin Win Pass this session
More thnn Likely 10 Prove Tru~-Di.
rector Leech Of the Mint Argues In Favor
OF the Proposed Conference of Nations.
WASHINGTON. Jan. II. - Representative
Springer has brought down on his head the
wrath OF all the silver men In Congress by his
announcement that no free coinage bill will be
passed by this Congress- Tho long interview
with the leader Of the House," published this
morning. and confirming the report published
In The Sun last week that there would be no
silver bill. but instead n proposal for an inter-
national monetary conference. has caused al
most sensation. Mr.. Sprnger's position as
Chairman OF the Ways and Means Committee
entities him to speak for tho major
ity although largo number Of Democratic
members to-day repudatcd his statement.
In tho Senate. however. such conservative
men as Mr. Carlisle endorse Mr.. Sprin ger. and
the ardent FREQ coinage men are very angry.
The Republicans are worry much disgruntloL
also because the Democratic managers have
stolen q march upon them by announcing
their programme Of side-tracking tho silver
question with tho proposition for an inter-
national conference The President and his
friends Were getting ready to make that prop
osition them selves. and do not relish having
their thunder stolen. To tho most con serva-
tive men in Congress 1t looks now us though
there would certainly DO no silver legislation.
and evon such All enthusiastic free coinage
advocate and Administration opponent as
Senator Teller Is already pushing the project
OF n conference. as his bill introduced to.day
indicates. The Director Of the Mint. Mr.. Lecch,
is also a friend of the plan for conference.
and gives it the weight Of his official endorse
mcnt. He said to-day:
England hns heretofore stood in the way
OF international reconciliation. but now Eng
land is herself in n state of unrest un tho cur
rency question. Tho Chancellor OF the En-
chequcr is proposing to feat. through tho
Bank Of England. n large quantity of 81 notes.
70 per cent Of this issue to DO bused on silver
silver bullion is In use In England as a basis
;or CIRCULATION. and this propositions. if put
,nG sryet h Msn1 s"h Mt to u" use o, y
money metal, The trouble with England Is
in the world to keep up the reserves, Tho
gold nations have been carting gold MI over
The world; Lending and borrowing IT to each
time G ne eip Essh ee arS w
worried about tho gold reserve. and they
natural recourse Of any nation which has
difficulty in maintaining its gold reserve is tho
Tic silver nations viii tae up e uss Msn
and that day will come sooner than most
people think IL tho United StntGs will make it
plain once for all that this is not to DO a free
pect for free coinage OF silver in this
country tho English cling to their gold
sd That t Fl soon as free free
can send the silver OF the world hcre and
drain us Of our gold Satisfy England that un-
limited coinage can never he had in the United
States. and the rehabilitation Of silver is q
problem which will quickly work itself out.
the single standard countries being forced to
the double standard by the scarcity Of gold.
1t would be u blessing I" tho world to hav. an
international monetary conference as soon rs
possible. ] think it would be better to have
the invitation come from England or France.
hut if they will not move the United States
should take the Initiative. But to call an in
te.national conf rcnce. and then go on talk
ing unlimited free coinage in the United
States. would be an abSurdity"