Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-10-21

STEWARDS AMENDMENT.
The amendment proposed by Senator
Stewart to the bill TO repeal the Sher-
man Act IL one Of the most important
offered 10 regard to silver. II requires the
President to invite the Governments OF
Mexico, Centralsnd South America. Hsyti
and Santo Domingo, to join the United
States in . conference at Washington to
adopt . uniform silver dollar which shall
not contain less than 359. 81 grains nor
more than $685. Is grains Of pure silver,
and which dollar shall be legal tender In
al commercial transactions between the
citizens Of those States. II also provides
that the decision Of the conference shall
be binding upon the several Governments
represented and that when an agree.
mens is reached the mints Of those
countries shall be opened for the tree
coinage of such dollars for the benefit
Of depositors.
The States included in this proposed
conference contain . population OF over
one hundred millions. All Of them use
silver for money, and in most II not all
Of them silver coins are . legal tender
for oil debts. At present the greater
part of their trade goes to Europe.
This trade will be diverted TO the
United States il an international silver
dollar should be adopted which would
be . legal tender in ell commercial
transactions between citizens OF Ameri-
csn States.
A conference Of this character gives
promise Of better results than could be
expected from an international none.
tary conference in which European
gold bugs predominated. Its success
would certainly tend to divert the
trade Of Central and South America
TO the United States, and by using q
uniform coin bring them into closer re-
lations with each other. None OF them
would trade with gold standard coun.
tries II the commodities which they
required could be had where the inter.
national silver dollar was q legal ten
der, and whatever may be the fate OF
the Sherman Act the proposition TO
hold an international conference in
Washington should receive favorable
consideration. Reno Journal.
While the proposed amendment 10
Q good one and would be . step in the
right direction in establishing . wider
field and more stable use for silver, there
are several obstacles in the way which
would render the work Of such
, conference Intellectual. Its efforts
in behalf of silver would, we think, be /,
met with resistance from the very begin.
ming. In the first place, we do not be.
lieve II the measure were to pass both I
Houses Of Congress that the President
would sign IL, because il would be in
he nature Of . compromise, and IL is
we'll known that Cleveland has <
himself many times since the
Extra session was called that he would +,
listen TO no compromise. But say that
he would sign . bill Of that character,
What would England do. II is not at
IL probable that she would sit idly
~ and not take . hand in . monetary
conference like the q proposed. She
Lac too much ct stake. Mr.. Gladstone
! short time ago said the world owes
saglands $50. 900. 600, 900. Some, if not all.
Il the Governments TO the proposed con.
erence are indebted TO England. While
he would NOT be . party 10 the confer
'nce, sofar - outward appearances would
Indicate, she would be there just the
'ame, and pull the strings Is effectively
v she dida ! the Brussels Monetary Con-
England will permit no favor
lble silver legislation II she can pre-.
rent IL, for the reason that her whole aim
oentsred upon the attainment of one
and that 10 to establish . single
gold standard throughout the world,
compelling all Of her debtors
10 liquidste their indebtedness in gold.
Gold would naturally advance in price.
and as that metal appreciated in value
the price Of commodities Of all kinds.
including labor, would be lowered. That
10 what we figure ont would result from
The establishment Of . single gold
standard. Then the commercial ele-
ment OF Europe, in order to protect
by preventing the trade Of
Mexico, Central and South America,
Hayti and Santo Domingo being diverted
to the United States. would aid the En-
glish 6nanciers all they could to dis
courage and prevent anything beneficial
TO this country being done at such .
conference. The proposition Of Senator
Stewart Isl good one, but for the rea.
sons given above we believe the ex-
pertinent would be prevented from
having . trial.
The business failures Of the past nine
months were LILA. against 1873 in