The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-03-01
OPPOSED TO BIMETALLISM
Gladstone Speaks for a Gold Standard,
and Parliament Stands By Him.
Debate in the Commons That Shows Plainly
England Will Not Change Her Monetary
SyStem-Flood Disaster in Hungary.
Premier Warns the Commons O

England's Premier Warns the Commons of
the Dangers BimetalIism.
LONDON. Feb. 28.-Sir Henry Meysey-
Thompson moved in the House of Conn.,
mons to-day that the British government
should use its influence to bring about re-
assembling OF the international monetary
conference, with the object of finding u
rem sdy for the evils attendant upon the
divergence of yalu5s between gold and
silver. Sir Henry, who is a director in
several railways and is recognized as re-
spectacle authority on trade questions.
argued that recommendation was a national
misfortune, and that fixed bime:allic
ratio was the sole remedy for existing diff
fcultes growing ont of the currency prob
lem. Other bimetailists also addressed the
House In behalf of the proposition.
Mr.. Gladstone, in reply, reminded the
House that the international monetary
conference met at the initiative of the
United States. and it would be an unpre-
cedented proceeding no W to depriveAmerica
of the initiative. England had followed
the Brussels discussion with more or less
sympathy and had a right to expect from
the United States declaration as to W lat
step that country proposed TO take next.
III tu6 opinion Oh the government uo piAu
yet proposed showed how it was possible
TO change the standard of value in Great
Britain Hear. hear 1t would place
the government IN INDIGENOUS position III
it should assume the initiative in
re-openrng the conference. having
cusslon. Mr.. Gladstone said that
England was not alone among civilized ma
tons in her determination to adhere to her
present monetary. system. Seven other
wit he ali rofa Tn
England, had signitied their intention not
TO change their currency. Half of the
powers represented at the conference had
shown that they leaned toward bimetal-
most shadowy indication of what
change they were prepared TO make. In
conclusion. Mr.. Gladstone made an elab
crate exposition OF the benefits OF Mono
metallism and the dangers of binetaliism.
Mr.. Chaplin. President of the Board of
Agriculture under the last Salisbury admin
istratlon, supported the motion of Sir
Henry Meysey- Thompson. At the Brussels
conference. he said. Begtram Currie, the
British delegate. persistentiy and delib-
erately did every thing In his power to de-
feat the objects of the meetings.
Sir William Vernon HarcOurt. Chancellor
of the Exchequer. repudiaJed Mr.. ChaDin's
charge against MIR. Currie. The British dele
gates. he said, had been almost the only
ones to support the American resolution
in favor of extending the use of silver.
From first to last bimetaliIsm had been at
the bottom of the conference. as it was
at the bottom of the present debate. The
failure OF the conference had been due to the
absence of all definite proposals. If the
United States should reconvene the con-
ference and submit definite proposals the
British government would be happy to
send back their delegates but could not
be expected to provide a scheme for the
more extensive nse of silver. He pointed
TO the returns of the income tax and death
duties to prove the growth of the country's
wealth. He commended that the agricultur
al depression, W hich was largely RESPONSE
BILE for the bImetallistio agitation. was
only temporary. The motion before the
House. he said. was intended to raise prices.
an operation which the government could
not undertake. as it was outside Its prov
ince.
Mr.. Balfour, leader of the Unionist op-
position. denied that he or any of his col
leagues desired a monetary system which
would raise prices. The motion was not
In favor of bimetallism. The fact was
that the government had decided to do
nothing TO remedy the present evils, evil
dent both in trade and agriculture.
Sir Henry Meysey- ThompsOn's motion
eventually was rejected by vote of 22S TO
14S. The announcement of the vote was
received with loud Liberal cheers.