St. Paul daily globe., 1893-08-28
MONEY AND BANKING.
c0NGRESSMAV M'cRE4RY PREPARES
ASME.: PING RES0LUTI.R.
GOLU ND SILVER VALUES
The Resolution Authorizes the
President to Appoint Congress
sionai and Expert Committees
to Look Into the Whole Subject
of Relative Values, the Double
Standard and Banking.

tO LoOh AntO the w mole SUD- eCC
of Relative Values, the Double
Standard and Banking.
WAsHINGTON,A Aug. 27.-Congressman
McCreary, of Kentucky, one of the
delegates on the part of the United
States to the recent international none
tary conference at Brussels, has pre-
pared the following joint resolution for
introduction in the house next week:
Resolved, by the senate and house of
representatives. of the Omitted States of
America. in congress assembled:
That commission is hereby author
lied and constituted. to consist of three
senators. to be appointed by the presi-
dent of the senate; three representa-
ttveS, to be appointed by the speaker of
the house of representatives, and three
experts. to be selected by the president
of the United States, with authority to
determine the time and place of meet
ing, and to take evidence in Washing
ton, or any other city in the United
States. before the whole committee, or
before subcommittee, and to INQUIRE
into and report:
FirSt--On the change which has taken
place in the relative value of gold and
silver, anu whether the change is due to
the depreciation of silver or to the ap-
probation of gold; cause of the change,
whether permanent or temporary; the
effect thereof upon finance, trade, COM
merce, agriculture, labor and other in
tereSts OF the country and upun the
standard of value in this and other
countries.
Second-On the policy of maintaining
fnn nnllhln CtQnHard in th.a T1t,itaH
States and what should be the legal rate
between silver and gold when coined.
Tnird-On the Dt st means of re-organ-
lZlng the banking system and of reStur-
ing cOnfilen in commercial and tinan-
cial circles and promoting international
bimetallism.
Fourth-'rhe report of the commits
sion shall be presented to the senate
and house of representatives not later
than lst of January. 1894.
This resolution" said Mr.. Nc
Creary tonight. "gives the commission
authority to inquire into the whole
financial question IN its broadest
phaseS-not as to bimetallism alone, but
also as to the reorganization of our
banking system. The means of pro-
noting international bimetallism will
also be subject for the commission to
consider. There can be no doubt but
that the pass age of the repeal bill will
help, to open the way for international
bimetallSm on fixed ratio among
the great nations of the world,
which is the best remedy of
which l have any knowledge for the
monetary evils with which the civilized
nations are now suffering. Great Brit
ain. Germany anG all the gold standard
countries would be delighted to see our
country go to a silver basis, so that they
might add our gold to their stock. They
are now watching with anxetv ana iu-
tereSt the congress of the United States.
There have been three international
monetary conferences held. two of them
by request of the Unitsd States. one by
request of the United States and
France. The first one was held in 1878,
the second in 1881 and the last in 1892.
When the first conference assembled in
| 1878 there were but twelve nations rep
| resented. When the second conference
assembled in 1881 there were but thir-
teen nations represented. When the
conference was held last year twenty
nations were represented. and all the
delegates were in their seats the very
day that the conference was called to-
gether. What does that show? 1t shows
the deep interest that all nations were
taking in monetBrv questions. 1t shows
that that interest had increased as the
years had advanced. England has al
ways, like lion, blockaded the way to
information lbimetallism but the feel
ing among her people in favor of inter
national bimetallism has greatly i'll
creased in the last few years, and, if
England would lead the way. believe
there is no doubt but that the Latin
union countries would unite with the
United States in an international agree
ment."