The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-09-26
FINANCIAL REVIEW.
Henry olews's Weekly Letter on
the Money Situation.
SILVER QUESTION NOT SHELYED.
Possibilities if tho international Con-
terence Should Never Agree---Eng-
lands Attitude -.- Gladstone OPP
posed to the British Government
Taking Part.

Spccig! Correspondence Of The hteVi0siccr'
NEW YoRK, Sept. 24.-Although, at
the moment, the silver question APP
pears to be comparatively forgotten,
yet it would be a great mistake to as
sumo that it has been permanently
| shelved. On the contrary, there is
much reason 10 anticipate that it will
prove the most potent factor in finance
at no distant future. At present the
controversy is quiescent, beCouse it has
been referred to a jury, chosen by the
leading governments, to say what, il
anything, can be done to restore silver
to its former status as one OF the money
metals. But what il that jury should
never reach a verdict? Or what il
Judgment should be rendered against
restoring TO the metal its lost powers?
AS the period ior the assembling OF the
conference draws nearer, the chances OF
any helpful result seem to become loss
promising. According to such limited
intimations as escape from official
quarters, the probabilities appear TO be
mainly two, which are equally possible
and equally fatal. Our adyiCes from
high sources in London give consider
able creditibility TO the report recently
put forth by the agent ofthe Associated
Press in the British metropolis that 1t
is very doubtful whether the conference
will evcr assemble.
Premier Gladstone, there seems to be
no doubt, is iniexibly opposed to any
representative OF England taking part
in any discussion that contemplated
"a change in the monetary standard OF
Great Britain" This phrase may seem
somewhat vague, and may lean a great
deal to conjecture as to what that coun-
try would refuse to accept; but it may
be taken as n rule OF Interpretation or
dinarily applicable to Mr.. Gladstone's
utterances, that when he is most vague
he means most. 1t is reasonable to ex-
pect from all Mr.. Gladstone's past
u~tterances on financial matters that he
is an unqualified adherent OF the strict
est school Of single standard men. Mr..
Goschen and his chief have shown
themselves to have strong leanings TO.
wards the Manchester double standard
party, SO much so that there is no
question they would have gone much
farther in helping the restoration OF
silver than a be expected from the
ley Premier.
Under such circumstances, the con-
ference, if it meets at all, must meet
under widely different auspices, from
those existing when the United States
issued its invitations. Fresh explana-
tions and stipuIations are to be expect
ed from the British government, and it
seems inevitable that those statements
should go before the other participant
ing powers previous to determining the
time and place Of meeting, Such inter-
changes could hardly fail to bring out
the fact that nothing to the purpose
could be be expected from England's
cooperation. If all is true that we
have oft heard about concession and CO.
operation from England being absolute
~ necessary to ANY ameliatory action
by the other governments, 1t certainly
seems highly possible that Mr.. Glad
stones attitude might cause an aban-
donment OF the whole scheme. And
should the conference assemble, hardly
anything better than failure could be
expected as the outcome OF England's
attitude; for England, it is universally
assumed, would be followed by Ger
many.
We thus have to face a probability
that, in a few weeks ut most, all hopes
OF restoring silver through an lnterna-
tional union may have been abandoned.
That result would be tantamount to fix.
ing irrevocably and for a prolonged Pc
Rod the depreciation and the instabil-
ity Of this metal. The doom Of silver
would be scaled, and the grave problem
would be forced upon the United States
how most quickly to get rid Of silver
and put its finances upon the single gold
hnsis HENRY CLEWs.