The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1894-05-09
FREE SILVER IS COMING
Intsraationsi Acton Necessary ioc R.h2
blt,tion Of the White Metil.

bl t.tion Of the White Metil.
LONDON, May 2.-The international
bimetallist conference was formally
opened in the Mansion House today.
The opening address was delivered by
ex.Lord Mayor Sir David Evans. a
large number of delegates were pres
ent, including some of the best known
of the British and foreign fnanciers.
Among them were Sir William Houlds'
worth, M. p; W. L. Lltterdale, ex-goV-
ernor of the Bank Of Engi and; Sir Da-
7id Barbour, exsecretary to the India
council; Henry Chaplin. n. p; Samuel
Montague, NJ. P; Brooks Adams OF
Boston, Mass; NJ. Vanderberg, presi-
dent of the Bank OF the Netherlands,
Amsterdam; G. NJ. Boisseyain OF Am
sterdam,; Alpholse Allard of Brussels;
George De Lavelleye of Brussels: Hen
ii Cernushi of Paris, president of the
French Bimetallic League; David Muir
ray, president of the chamber of COM
merce of Adelaide, South Australia,
and president Of the South Australian
Blmttallic League; Hugh NJ. Matheson
Alderman and Sheriff Dimsdale, a Lon
don banker, Thomas Salt, late presl-
dent of the Bankers Institute; Sir
Malcomb Fraser, agent general in Lon.
don for Western Australia, and a. J.
Balfonr, exChlef Secretary for Ireland.
Letters were read from Archbishop
Walsh of Dublin, the president OF the
Bank of France and others, regretticg
their inabilisy to be present.
A paper was read by Prof. Shield
Nicholson, on the fall in the general
level prices in relation to the apprecia-
tion of geld and the divergence in the
relative value of gold and silver, and
general discussion of the subject fol
lowed. 2he conference was presided
over by Lord Mayor Tyler.
Cablegrams were read from Senator's
Sherman, VOORHEES,, Aldricb, Murphy,
Brice, Platf, DAVIS, Carey and Cllsom,
wishing success to the conference and
to the cause of bimetallism in England.
a. J. Balfour, in course Of the dis
cussion, said he did not believe that
government regulation of coinage, ii
It were done in the direction of making
it more stable and fairer measure OF
value, could be justi6ably opposed
The nations of the world were now, he
said, standing face to face with a great
danger, which could only be aVerted
by the rehabilitation Of silver to it pro-
per commercial function. In order to
do this international action was aoso'
lutely necessary.
Balfour said there were three q1es'
tions with which bimetalltsts had to
cope. They were these: Was a double
standard possible? Was it just? Was
it expedient? Scientists and acono'
mists answer these questions with an
overwhelming "yes" He would not
say whethe. the closing Of the Indian
mints was a Ttse step, but he did not
doubt that it was the most striking at
tempt that a ciViilzsd govern mint had
ever made to solve monetary difficult
t9 that was directly Cue to monomec-
ailism.
Balfour said he saw sigus OF change
in Eoglish opinion. The leading com
merclal men had abandoned their form
er hostility to bimetalllsm and come SO
the conclusion that the only way ~
meet the grave danger was to restore
silver to its former place rs clrcuiat-
ing m-dipm.
Mr.. Balfour also said it was a mere
dream to suppose that each State was
able to regulate it own currency lnde'
pendently. 1t vas absurd to talk OF
taking an isolated view Of the British
currency when the action of the United
States, which had not been taken in
concert with or from any friendly feel
ing towards Great Britain, had forced
upon India aud Eogland the adoption
of tbs astounding system which now
prevailed in India. England's present
Isolation was selfish and stupid. He
speke personally and for no party. he
said Leonard Il. Courtney, MI read a
paper on "The practicabillty of main
taining ratio between gold and silver
under an international bimetal!icagree
ment," and discussion of the paper
followed. Letters il support of bimet-
allism were received from Gen. FrancI!
a. Walker, Archbishop Walsh and Pro-
E. B. Andrews of Brown University
a letter was read from Mr. Il. ". Can
non, president of the Chase Nationa
Bank of New York, in which the writ
er said that the solution Of the problem
of bimetallism rests With Great Britain
DR.. Arendt, the eminent German tinan
cier, expressed views similar to those
contained in Csnnon's letter.