The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-03-18
STANDS FOR GOLD.
England Has Done That
Always.
MORE SILVER IS DESIRED.
1t Is Therefore Just Possible That
the Monetary Conference Might
Agree Upon Something.
SILVER IS DESIRED.
Special to THE MORNING CALL.

WASHINGTON, March Ex-senator Teller,
who has already given notice of his nten-
tlon to take steps to cause the International
Monetary Conference TO reconvene at
Brussels, was to-day asked for his opinion
respecting the declaration of the Chancellor
of the EXcheQuer yesterday that the British
delegates would be instructed to oppose
every bi-metallst scheme presented at the
conference.
The Senator said the declaration meant
that Great Britain would absolutely oppose
the free coinage OF silver on terms of
equality with gold. That was what she had
always done, and nobody expected
her to do any more at this time. But
there was nothing in this position
irreconcilable with the attainment
of the object Of the conference, namely, the
extended use of silver as money metal. In
fact, there was every evidence to show that
Great Britain really desired to do some
thing In that direction. Her fnanciers re-
allied the necessity for some palliative
measure, something to prevent the further
depreciation Of silver, which, if continued,
must result in the total destruction Of the
present monetary system. If that occurred
the future of silver would be assured, but
nobody wished to adopt such an heroic
measure to achieve the desired result. He
had no doubt that England would be willing
10 support a reasonable proposition that
was more practicable than the Rothschild
scheme.
Senators Walcott and Teller had an inter-
view with Secretary Carlisle on the subject
Of the lightweight gold at Denver The
Secretary pointed out the statutes to them
regulating his action in the premises, and
the Government officers at Denver were
telegraphed not to accept lightweight gold
except by weight. When light ght gold
is offered the Government and the parties
Offering it refuse to sell it by weight 1t is
returned to them with the words eight
weight STAMPED across its face, the same
way as the word Counterfeit" is stamped
across the face of bad note. The Treasury
Department has found that much OF the
gold offered it, in addition to that from
Denver, was light weight as a result of
abrasion or sweating" In all instances
the light weight has been made good or the
gold has been accepted at its actual weight.
The law provides that gold more than l per
cent below the standard weight, which is
25 $40 grains to the dollar, cannot be ac-
cepted by the Treasury Department at its
face value, but only by its actual weight
grew OF South Dakota has been Inter-
viewed. He says he does not think the
Sherman repeal bill will be passed when
Congress gets to work again. nor does he
think there is any chance of this country
getting down to a silver basis. "The silver
question is not responsible for the present
depressed condition of the markets That
is due TO the bowling and dark prophecies
of Wall street. The people of the United
States are beginning to see this. What do
they care for Wall street and whether tha
prices go up or down from speculative
causes? The Stock Exchange should not
be allowed to affect the course of financial
legislation in Washington"
Russell Sage is quoted as saying he did
not think the existing stringency 10 the
money market could last much longer. The
Withdrawals of money from interior points
at this time are, in his opinion, caused by
natural conditions, and the demands are
aggravated to some extent by misconcep-
ton of the true situation. He declined to
express an opinion as to the immediate
course of prices, beyond saying unfavorable
factors have been pretty we'll discounted by
a recent falling off in values.