The Lexington dispatch. [volume] (Lexington, South Carolina) 1870-1917, 1894-05-09
FREE SILVER Is COMING.
international Action Necessary tor Rshs
bil,tation of the White Metal.

Intern nationaI Action Nscesss sry tor Rsha
b.l,tation of the White Metal.
LONDON, May 2.-The internationa.
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. T.. Litterdale, ex-gov
ernor Of the Bank Of ngland; Sir Da
vid Barbour, exsecretary to the India
council; Henry Chaplin. M. P; Samuel
Montague. M. P; Brooks Adams Of
Boston, Mass; NJ. Vanderberg, presi
dent of the Bank of the Netherlands
Amsterdam; G. NJ. BoisseVain: of Am
sterdam,; Alphonse Allard of Brussels
George De Lavelleye of Brussels; Hen
ri 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
Blmetallic League; Hugh M, Matheson
Alderman and Sheriff Dimsdale, Lon,
don banker, Thomas Salt. late presl
dent of the Bankers Institute; Si1
Malco NIB Fraser, agent general In Lon
don for Western Australia, and A. j.
Balfour, exChlef Secretary for Ireland
Letters were read from Archbishop
Bank of France and others, regrettirg
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.
ton Of gold and the divergence in the
relative value of gold and silver, and q
general discussion of the subject fol-
lowed. The conference was presided
over by Lord Mayor Tyler.
Cablegrams we're read from Senators
Sherman. VOORHEES,, Aldrich, Murphy,
Brice, Platt, Davis, Carey and Cullom,
wishing success to the conference and
to the cause of bimetalllsm in England.
A. j. Balfour, in course of the dis
cussion, said he did not believe that
government regulation of coinage, il
1t were done In the direction of making
1t more stable and q 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 abso-
lutely necessary.
Balfour said there were three ques-
tions with which bimetallists had to
cope. They were these: Was double
standard possible? Was 1t just? Was
it expedient? Scientists and econo-
mists answer these questions with an
overwhelming yes" He would not
say whether the closing of the Indian
mints was a wise step, but he did not
doubt that it was the most striking at
tempt that a civilized govern ment had
ever made to solve monetary Difficult
ty that was directly due to monomet-
allism.
Balfour said be saw signs of a change
in English opinion. The leading COM
mercial men had abandoned their form
er hostility to bimetallism and come to
the conclusion that the only way to
meet the grave danger was to restore
silver to its former place as circulat-
ing medium.
Mr.. Balfour also said 1t was mere
dream to suppose that each State was
able to regulate it own currency inde-
pendently. It was 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 and England the adoption
of the 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 H. Courtney, NJ. P, read &
paper on "The practIcability of main
tanning a ratio between gold and silver
under an international bimetallic agree
ment," and a discussion of the papel
followed. Letters in support OF bimet-
allism were received from Gen. Francis
A. Walker, Archbishop Walsh and Pro
E. B. Andrews of Brown University
A letter was read from Mr. H. W. 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 tnan
cier, expressed views similar to thos'
contained in Cannon's letter.
| A Peculiar Accident.