The Providence news. (Providence [R.I.]) 1891-1906, 1893-03-01
LIBERALS AGAINST US.
Gladstone Looks Coldly Upon the
Monetary Conference.
PROPOSAL TO RECONvENE IT.
Was Finally Voted Down I'm Pariia-
msnt Amer the Premier Had OPP
posed a.. and Arrsyed tho Liberal
Strength Against 1t.

LONDON, March l-Sir Henry Meysey
Thompson, liberal-unionist M. p. for
North Handsworth, Staffordshire, move d
In the House of Commons, yesterday,
that the British government should use
its influence to bring about the reas-
sembling of the International Monetary
Conference withs TIE object OF finding n
remedy for the evils attendant upon the
divergence of values between gold aud
silver.
Sir Henry. who is director in several
railways and recognized as an authority
on trade questions, argued that mono:
netallism was natural misfortune aud
that a fixed bimetallic ratio was the sole
remedy for existing difficulties growing
out OF the currency problem.
Samuel Mon a,u, Liberal Nj. p. for
Whitechapel, aud we'll known as a mem-
Der of the banking house OF Samuel
Nontagu & Co., earnestly supported Sir
Henry's motion, and argued la favor OF
bimetalism. Other bimetalists also al
dressed the House In behalf Of the propo-
siuon.
Mr. Gladstone, in reply, reminded the
House that the International Monetary
Conference met at the initiative OF the
United States, aud it would be an un-
precedented proceeding now to deprive
America OF the initiative. England had
followed the Brussels discussion with
more or less sympathy, aud had right
TO expect from the United States n
declaration as to what step that
country proposed to take next. In the
opinion OF the government no plan yet
proposed showed how IL was possible to
change the standard OF value in Great
Britain. ("Hear, hearl") 1t would
place the government In n ridiculous po-
sition IL IL should assume the initiative in
reopening the conference having nothing
TO recommen for discussion.
Mr.. Gladstone said that England was
not alone among civilizsfi nations in her
determine tion to adhere To her present
monetary system. Sewn OF her Pow ers,
wit ncut che slightest ieierence to Eng
lu d, had signitied their intention not 10
ch 'nge their currency. Half OF the
snown mat they leaued toward Dinetal-
,ism. but as yet they had not given the
most shadowy Indication Of what change
they were prepared to make. In conclu-
sion Mr.. Gladstone made an elaborate
exposition OF the tenefits of momemtal-
lism and the dangers OF bimetallism.
sir William Harcourt chancellor of
the exchequer. said the British delegates
had been almost the only ones to sup
port the American resolution in favor Of
extending the use OF silver. From first
10 last bimetalism had ben at the bot
tom or the present debate. The failure
OF the conference had been due to the
absence OF all definite proposals. II the
United States should reconvene the con-
ference and submit definite proposals
the British government would be glad to
send back their delegates. but could not
be expected to provide scheme for the
more extensive use of silver.
Sir Henry eysey-Thompson's motion
eventually was rejected by vote Of 229
to 14S. The announcement of the vote
was received with loud liberal cheers.