Los Angeles herald., 1892-12-15
SENATOR JONES AND rHs CONFERENCE.

United States who take an intelligent
interest in the silver question will await
with great anxiety the full text OF Sen
ator John ?. Jones's speech before the
Brussels conference. We notice that the
Associated Press and number OF New
York journals have assumed that Sem
ator Allison was the ablest representa-
tive of the United States on the silver
issue. This is mistake. We doubt if
there is man in this country or Europe
as profoundly versed in the silver qres.
tion as the Nevada ser nator. His.
speech on the resumption OF
specie payments in 1874 was SO
remarkakable for its exhaustive treat
ment of the matter that it positively
electrified the senate and the whole
country. He was chairman of the COM
mittee appointed by the United States
senate to investigate the demonetiza-
ton of silver in 1878. The report of
that committee contains one of the most
logical, learned and luminous discus-
sions OF the relations OF the precious
metals to each other, to legislation and
to the commerce of the world, ever
written, and it was largely the work of
Senator Jones. Although Republican,
he showed with merciless force all the
details OF the treacherous demonetiza-
tion OF eilver, the work exclusively OF
his own fellow partizans. He placed
the blame just where it belonged, and
he hiss never hesitated since to denounce
the Vaccinations the enemies OF silver,
let them be found in whatsoever party.
1t has been usual to refer Senator Jones's
ardor in the cause OF silver to the fact
that be is largely interested in mines OF
the white metal. As a matter OF fact,
the minss in which he has been inter
ested during the past three or four years
have been gold deposits, like the cele-
brated Douglas Island mine in Alaska.
Mr.. Jonea is incapable of being inhu-
enced by such eordid considerations,
and ne is simply an enthusiastic and en-
lightened advocate OF bi-metalism. 1t
is pleasant to oe assured that he was
listened 30 with profound attention by
the members Of the conference.
Tue report OF the senate COMMITTEES OF
which Mr.. Jones was the chairman
showed number of things that would
astonish many persons who have OBJ
served the present attitude OF France
and her noted inanciers towards silver.
Baron Anselm de Rothschild, the head
of the Paris house of that family, pro-
nounced the decentralization Of silver 6
great mistake. He denounced it as q
moustrous outrage against debtors all
over the world, and looked for unmixed
evils to flow from the surrender of the
parity which had existed between silver
and gold. Many other noted bankers,
and amongst them number OF great
emineDce in England, expressed the
same views. At the same time that the
report gave in extenso the views of these
European fnanciers, it showed with
great clearness the tricky way in which
silver was demonetizsd by congress in
1873. President Grant has placed upon
record the fact that he did not know
that he was signing any bill taking
away from silver its legal tender quail
ties, and many senators and representa-
tives have asserted that If they voted
for it at sill they were tricked into go
doing.
It's evil effects have been felt ell over
the world. Coincd8nt with the fall in
the price Of silver, and descending pavi
pasSu with il, has been decline III the
price OF wheat, barley and all the pro-
ducts OF the farm. English capitalists
alone have been benefited by silver de-
monetization, as they could buy the
white metal on their own terms, coin it
into rupees and use these at their face
value in paying for wheat in India. The
English, in common with the American
farmer, now realizes that in proportion
as silver falls the vane of his crops fall
! with it, and the agricultural classes are
now joining in with our own tillers of
the soil in the demand for remonetiza-
ton. Sir Guildford Houldsworth, one
of the delegates from India, day before
yesterday called the attention OF the
conference to the changed condition OF
sentiment in England, as shown by the
declarations of national agricultural
convention, and by the able and clear
headed letter of Archbishop Walsh of
Dublin. This Roman Catholic prelate
has thrown himself into the breach very
effectively and with a financial sagacity
that is somewhat surprising in an eccle.
siastic. 1t is to be hoped that, as was
suggested by Sir Guildford, these ex.
presslons of opinion will have some in
huence on the British government,
whose hostility to bi-me.allism has been
unrelenting and consistent from the
start. There is just a possibility that,
after all, the conference may accomplish
some good.