Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-02
FRIENDS OF SILVER
Opening Of tho Bimetallio Congress
in London.
EMINENT FINANCIERS In ATTENDANCE
Address This Afternoon by Mr..
BaIfour.
MANY LETTERS OF REGRET
EMINENT FINANCIERS In ATTENDANCE
MANY LETTERS OF REGRET


pices Of the Bimetallic League. was called
to order at IL o'clock this morning In the
Egyptian Hall of the Mansion House. the
lord mayor, the Right Hon. George r.
Tyler, presiding.
The proceedings opened with an address
by the ex-lerd mayor. Evans. after which
Prof. Shield Nicholson read paper on
THE fall in the general level of prices in
relation to the appreciation Of gold and the
divergence in the relative value Of gold and
silver"
During the afternoon the Right Hon. A. ].
Balfour. the conservative leader in the
house Of commons, will make an address.
which will be followed by a paper by Mr..
Leonard Courtenay. NJ. p. on '"The practi-
cability of maintaining q ratio between
gold and silver under an International BIZ
metallic agreement" this viii be followed
A banquet will be given this evening to
the English and foreign members Of the
conference.
Prominent Delegates.
There were about 400 delegates present
this morning. among them being Mr.. Brooks
Adams Of Boston. Mass: the president Of
the Bank Of tho Netherlands Of Amsterdam,
NJ. Van Denberg; NJ. Henri Cernuschi Of
Paris, president Of the French Bimetallic
League; Mr.. David Murray, president Of the
South Australian Bimetallic League; Mr..
Thomas Salt. late president Of the Bankers
Institute; Sir Malcomb Frazer. agent gen.
eral in London for western Australia: the
Right Hon. w. Lidderdale ex-governor Of
the Bank Of England, and a number Of
prominent foreign and British nnanciers,
as well as many members Of parliament
The object Of the Bimetallic League Is to
urge upon the British government the
necessity of cooperating with other leading
nations FOR the establishment Of the free
coinage mr s OF gold and silver at fixed ratio;
Chase National Bank Of New York, was
expected to be present. but he sent q
letter OF regret, which alsU outlined his Do
sltion In regard to bimetallism, and said
that II the government of Great Britain
IN willing to suggest a practical plan look
Ing to the use Of both gold and silver as
money on some ratio to be fixed by inter-
national agreement. the government of
the United States will cooperate and as
sist In every possible way in carrying out
such a plan.
Some Letters.
Also among the letters Of regret was ono
from Archbishop Walsh of Dublin. The
archbishop said that he was specially glad
to see the conference discuss that aspect
Of the case In which Ireland was most
deeply concerned, namely, the ruinous eff
fects Of the present artificiality creating q
dearth Of money upon husbaudry and its
interests.
Concerning the currency question gener-
ally, the archbishop remarked in his let
ter: Il can only say that the experience
since year ago will but serve TO deepen
the conviction of the irresistible strength
OF the cause Of international blmetallism.
The practical failure Of the recent ex-
perimental tampering with the currency
Of India ought surely to be sufficient to
finally check any further development Of
the disastrous doctrinal policy which has
50 long held ground in England"
The governor Of the Bank Of France, NJ.
Magnin, also sent letter applauding the
conference and saying: THE silver Ques-
ton imposes itself more every day upon
financiers. The whole world requires its
solution in its general interest 1t Is init
mately bound up in the commercial and
Industrial prosperity Of all nations. I am
. resolute partisan Of the rehabilitation
Of silver"
Prof. Francis A. Walker wrote applaud
ing the gallant. gaining fight for the res
toration of silver to its historical place
in the currency of the world which the
Bimetallic League Is making
Prof. Andrews Of Brown University Of
Providence. r. l.. wrote: 'Our cause Is
making rapid progress. and we are GER
tainly succeeding"
During the discussion which followed the
reading of Prof. Nicholson's paper, DR..
Arendt, q member of the Prussian diet,
declared that bimetallism was making
progress in Germany, and he thought that
II an international conference was held
now, 1t would have very different results
from the Brussels conference.
Mr. Balfour Friendly to silver.
Tho feature Of the conference was the
speech Of the Right Hon. A. ]. Balfour. the
con sentative leader in the house Of COM
mons, this afternoon.
Mr.. Balfour, who was received with loud
cheers. said that many who were suspicious
Of the double standard and bimetallic sys-
tenn now recognize, in view of great i'm
pending dangers, that the best safeguard IL
to rehabilitate silver as one of the great In
struments Of the monetary transactions Of
the world
Continuing. Mr.. Balfour said that 1t was
absolutely necessary that the monetary
functions of silver should be restored II
business was to be carried on upon a solid
basis. The difficulties Of an international
agreement, the speaker insisted, were mere
ly as to the details. and II any question
should be settled by an international agree
ment, surely this one should be SO settled.
the United States had forced the Indian
and British governments into the system
now prevailing. adding:
I'VE ought to enter Into an agreement
with the countries of the world for BIZ
metallic Joint standard. The solution Of the
problem is easier now than 1t will be i've
years hence. Great responsibility rests on
those who keep England in stupid, selfish
isolation in this great question"
Mr.. Leonard Courtenay, NJ. p, followed,
contending that an international fixed rate
was practicable, IL based upon the normal
production Of gold and silver.
SUPPOSED TO Be A BOMB.