New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-26
PRICE THREE CENTS.
FOR A SILVER CONFERENCE,
PRELIMINARY ARRANGEMENTS MADE.
EVERYTHING DEPENDS NOW UPON THE ACTION
OF CoNGREss-THE GOLD MOVEMENT.

DFIENDS NOW CPON IHG ASllOSN
OF coNGREsS-THE GOLD MOVEMENT.
The departure of Secretary Foster on his Euro
pean visit revived considerable gossip in fnan-
cial circles in this city with regard to the future
of the silver problem, and interest is sustained on
the subject by the continued movement of gold
to Europe. The foreign exchange market was
somewhat easier in tone yesterday and an en-
gagement was made at the SuI-Treasury Of $780,
900 gold coin for shipment tomorrow. The ship
pers are said to be Barring, Magoun Il Co. IL is
expected by well-informed banking houses that
the total exports tomorrow will exceed Sl ,OOO.-
900. The present efluX Of gold is not causing
anxiety in Wall Street, partly because the banks
here unusually strong in cash resources and
partly because wel-informed bankers are 90
quainted with the brighter prospects for an inter-
national conference the question of bmetal-
lism. There has been general regret at the agita-
ton of the question of free coinage Of silver, bus
the opposition of the Administration TO any step
in this direction is so well known that no harm
ful action by Congress is looked for. In fact.
earnest work is being made by the banking in
terests to bring the silver question into phase
which will allay all nervous fears.
IL was said yesterday by men who arc IN
position to be well informed in the matter that the
was stronger than it had been in long time. The
friends of honest finance have not been idle in the
last few months, and vast amount OF work, 1t Is
said has been done to pave the way for a confer
cnce of European Governments with the United
States looking toward a satisfactory Agreements
which will avert all possible danger that might De
bred from the present depression in the price OF
silver bullion The financial interests OF the coun-
try are looking TO Congress to take prompt acuon
on the resolution now In committee LII the senate
which contcmplates negotiations for an interna~
tional consultation the silver question. The
resolution was originally introduced by Senator
Teller and was amended by Senator Aldrlch, and
its passage by Congress, it is believed Will DO
thoroughly satisfactory to the business world. 10
was asserted yesterday by well-informed financial
men that if this resolution passes Congress there
is little or no doubt that bi-metaic conference
is assured
Correspondence has passed between the principal
authorities on finance in this country ana England
which is said to have resulted in a thorough con-
viction that Great Britain will favoraby respond
TO any invitation from this country to discuss thd
question of establishing an international ratio be-
tween gold and silver Bankers who have per-
sonally conferred with men Of finance on the other
side of the Atlantic testify unanimously to the
changed attitude of many English thinkers and
practical business men toward the silver problem.
Strong confidence is felt that Mr. Goschen the Brit
ish Chancellor of the Exchequer Is even more favor
ably disposed toward the recognition of silver In the
moneys of the world than even his public utter
anccs would indicate. IL is asserted that England
would enter any international conference with far
more cordality than shown at the last con-
ference 1t is said that there are strong grounds
for believing that as full powers as possible
would be given TO any commissioners which thao
Government might appoint. and it is also believed
that assurances have been received that the French
and German Governments would heartily cooperate
in any congress Of nations to consider the silver
question.
The bankers here who assert that they have
sound ground for the belief that all the preliminary
steps have been taken for silver conference say
that the matter now hinges entirely upon the
action OF the United States Congress. An earnest
public sentiment is hoped for, which will urge
the National legislators 10 lay aside all Eartlsan
considerations and adopt the measure which Is
expected TO bring the leading countries OF the
world into an agreement which will relieve tho
the financial strain that the International markets
are now subjected to because Of the unsettled
position of the white metal.