New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-28

l.b shipbuidcis already admit that their meet
formidable rivals in naval architecture and de-
,igning are on this side of the ocean.
SITTER IN TIE HOUSE or COMuONS
The British House of Commons has decided
by vote of 229 II 14S, against a mction 10
Use the influence Of the British GovernmehV
TO bring about the ieassembling OF the Inter-
national Monetary Conference. The motion
was made by gentleman recognized as an All
thority in trade questions, who argued 'ha'
monomttall was national misfortune, anu
that the conference should assemble with Inc
obiec. Of finding a remedy for the evils when
result from divergence OF values between GOLD
and silver" Other gentlemen OF some linancil
mDoitance supported the motion, rs well rs
Mr.. Chaplin. who was president of the Board
Of Agriculture under the late Salisbury Admin
straticn The argument in reply, made by
Mr.. Gladstone and Sir William llarcourt. was
in substance that Great Britain was nj III Il
position t. propose anything on that subject
that the United States had been unable to pro-
rosc ANYTHING and that most OF the Powers
without influence by Great Britain. had decided
against any attempt - reach bme;alllc blsiS
Oh plans hitherto defined.
Ii must be admitted that these objections. "a
respects the rcaSsembling of The conference
have some logical force. The United states
invited other Powers 10 this conference without
having any definite plan to propose. Whether
this was "A mistake or not. it is nj least clear
that the constitution Of the conference tended
strongly u prevent the devising of any prac-
;,, lad Tho ni.p1
States been able to submit any definite and
reasonable scheme, possibly the support OF
several other counties might have been OBJ
tanned. But the United States only asked other
countries to join in considering whether some
mode could not be found 10 bring abont
larger use Of silver as money, and the only
PROPOSITION made to the conference was one
which the delegates assembled hardly thought
it worth while seriously TO consider. Whether
the United States will be in position to sub
nit new and definite proposition il the con
grcss assemblies again cannot at all events be
known t. those charged with the Admnistra
ton in Great Britain, and may not yet have
been definitely determined by Mr.. Cleveland
and those who will be associated with him in
the coming Administration in the United
States.
Mr.. Gadstone's statement OF the British posi-
ton was not altogether satisfactory. Accord
ing to reports tclegraphed, he stated that, " in
the opinion of the Government, no plan yet
proposed showed how it was possible to change
the standard of value in Great Britain" This
does not seem to be quito an accurate state
ment of the difficulty. OF many changes pro-
posed, not one may seem to the British Gov
crnmont desirable, or likely to result in any
permanent benefit t. any class in the COM
munity, and yet it can hardly be said that none
of them arc possible. 4 change Of the stand
ard is as possible in Great britain as in the
United States, but the Government clearly be-
lcvcs that no change by any plan proposed a.
vet would be beneficial. The difficulties of
Great Britain are greatly increased by its rela
tons with the Government OF India, and by
the trade relations between England and that
powerful dependency. Unless plan contcm-
plated will fit those trade relations. and can be
applied i'm such way as to provide an adc-
alate and more convenient circulating medium
for India AZ well a. for Great Britain, il is evil
dent that the British Government may well
hesitate to adopt il.
Tho only proposal coming from Great Brit
ain which was made at the Brussels Confer
enco contemplated purchases OF silver by united
action of different governments with a view
of raising it, market price. But the expert
eme of the United States has clearly
proved that while such purchases may for a
time hoist the price of silver bullion, Just
as wheat or cotton or any other commodity can
be cOrncred by sufficiently powerful combine
ton of capital, yet the results arc by no means
certain to answer expectations. The very fact
that silver commands higher price must tend
20 increase its production in this and in other
coin ries Without dwelling upon figures which
have been given in Congress and elsewhere re-
spccting the c,st of producing silver, it is ut
least clear that the cost at a great number of
the mines is decidedly below the present mar
ket value of bullion, and that any advance in
the price of bullion tends powerfully to increase
the production. But as som as the production
expands sufficiently to make up for the silver
Withdrawn from the market by purchases, the
surplus unavailable and unsold hangs over the
market again just as before, and operates rs
powerfully as ever to depres the price. And
meanwhile the accumulation of great store
Of unused metal by ether governments would
affect the market, just as the accumulation by
the United States, and somewhat earlier by
the Bank of France, has undoubtedly affected
the price of silver. Every such great hoard
tends inevitably to depress the price, as long
as it is not so used that its retention by the
holder becomes essential to the monetary sta
| blity of the country.
This is the radical difficulty with all plans
| contaminated ND TO this time. The additional
use Of silver for which they provide is net such
as to render the continued retention of the