New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-01
RJMETALLISM DISCUSSED.
,,pI1r ON THE CURRENCY PROBLEM IN
THE HOUSE OF COMMONS.
,,o-,ox THAT ENGLAND SHOULD USE HER

NOTION THAI EN'LH>D 'hVNHD '.'A- 'i~i'
,xr1rExcE TO BRING ABOUT TIE RE
ASSEMBLING OF TIE MONETARY
CONFERENCE DEFEATED, 2:9 TO l4s.
I.rdon Feb 2s-Sir Henry MeyseyThompsOn,
,,s.r.l.rnionist W. p for North Iiandsworth,
c..aordshire moved in the House of Commons
40, that the British Government should use
~. ;rAuence 10 bring abont the reasscmbng Of
~ Unconditional Monetary Conference. with the
..;.c. Of finding a remedy for the evils attendant
Ian ,hc divergence of values between gold and
'nr., Sir Henry. who is director in several
..;xsys and recognized authority on
.'.ao ouestions argued that monomcta>m was
..,ional misfortune, and that fixed bimctallic
.".o was the sole remedy for existing difficulties
.royire out of the currency problem.
samuel Montagu. Liberal NJ. p for White
.,.nel and a member Of the banking house Of
samuel Montagu * Co., earnestly supported
,, Henrvs motion. and argued in favor of b-
un,aism other himctallstS also addressed the
Uouse in behalf of the proposition.
Mr. Gladstone, in reply, reminded the House
,,st ,he International Monetary Conference mot
=, ,he initiative of the United States. and il would
h. an unprecedented proceeding now to deprive
Arsrica of the initiative. England had followed
~. Prussel, discussion with more or less sympa-
,bv and had right TO expect from the United
s.ates a declaration a. TO what step that country
rronosed 10 take next. In the opinion of the
Government no plan vet proposed showed how 1t
vas possible TO change the standard of value In
Grst Britain. &" Hear. hear.O 1t would place
The Government in ridiculous position II II
should assume the initiative in reopenlng the
conference. having nothing TO recommend ior ais
cussiOn.
England Mr.. Gladstone said. was not alone
,monc civilized nations in her determination TO
adhere 10 her present monetary system seven o'her
powers without the slightest referenc" 10 Eng
land had sgniGcd their intention not to change
their currency Half of the Powers represented
q, the Conference had shown that they leaned
toward bimetallsm but as yet they had not
riyen the most shadowy indication Of what
change they We're prepared to make
In conclusion, Mr. Gladstone made an elabor
n,e exposition of the benefits of monomctallism
And the dapeers Of bmctalllsm.
Mr. ChapIin. President of the Board of Agri-
su,.urc under the last Salisbury Administration
sunnortcd the motion Of Sir Henry MeySey-
n romnson At the Brussels Conference. he said
psr+ram Currie. one of the British delegates
consistently and deliberately did everything IN
bs power TO defeat the objects OF the mcetng
Sir William Narcourt, Chancellor Of the In
cheouer. repudiated Mr.. Chaplin's charge against
Mr. Currie The British delegates. he said, haa
been almost the only ones to support the AMER
can resolution in favor of extending IN" use Oh
silver. From first to last bimetallism haA nceA
At the bottom of the present debate. Inc iaiI
IRE Of the Conference had been duc 10 the ap$n'e
OF all definite proposals. If tire United Staf
should reconvene the Conference ana suoihi
definite proposals the British Government "oui9
be glad 10 send back their DELEGATES. bnt couIN
not be expected TO provide q scheme for 'nn NOR
extensive use of silver. He pointed TO the re
turns of the income tax and death duties 10 prov
the growth of the countrys wealth. lie con
tended that the agriculture! depression wnicn
was largely responsible for the bimetaihc agl,a-
ton. was only temporary. The motion before the
House he said was intended to raise prices, an
operation which the Government could not under
fake as il was outside its province.
Mr. Palfour leader Of the Cnionlst Opposl-
tion. denied that he or any Of his col cigucs de-
sired monetary system which would raise prrrrp~ ice
The motion was not in favor of blnctalil,m. ne
fact was that the Government had decided 70 a.
notbinr 10 remedy the present evils, evident both
Sir Henry Meysey-Thompsons motion even
tnallv was rejected by vote OF @2' 70 l4c
The announcement of the vote was received with
loud Liberal cheers