The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-05-03


The proceedings opened with an adj
dress by the eX-lord mayor.
Professor Shield Nicholson read a
paper on the fall in the general level
of prices in relation to the appreciation
of gold and the divergence in the rela-
tive value of gold and silver.
This afternoon A. B. Balfour, the
Conservative leader of the House of
Commons. made an address, which was
followed by a paper by Leonard Court
ney, M. P, on the practica'bility of
maintaining the ratio between gold and
silver under an international bimetallic
agreement. This was followed by
discussion.
fish and foreign members of the con-
ference.
There were about 400 delegates
present at the opening session today.
Among them were Brook Adams, Bos-
ton, Mass; Mr.. Vanderberg, president
of the Bank of Netherlands, Amster-
dam; Hy. Gerluschi, president of the
French bimetallic league; D. Murray,
president of the South Australian BIZ
president OF the Bankers institute; Sir
Malcolm Frazer, agent general in Lon
don for Western Australia Right Hon.
w. Lidderdale, ex-governor of the
| Bank of England, and prominent for
eign and British financiers, as well as
many members, of the Parliament.
Free Coinage of Gold and Silver.
The object of the Bimetallic League
is to urge upon the British govern
| ment the necessity of cooperation with
the leading nations for the establish
ment of free coinage of gold and silver
at fixed ratios.
Archbishop Walsh wrote that he was
glad to see theaconference discuss the
aspect of a case in which Ireland was
most deeply concerned, namely, the
ruinous effects of the present artifi-
cially created dearth Of money upon
husbandry and its interests. 81 can
only say that the experience since a
year ago will but serve to deepen the
conviction and irresistible strength of
the cause of the international bimetal-
lism. The practical feature of the re-
cent experimental tampering with the
currency of India ought surely to be
sufficient to finally check any further
development of a disastrous doctrinaire
policy, which has so long held ground
in England
A ResoIute Partisan.
The governor of the Bank of France
NJ Magnin, wrote: ''The silver ques-
ton inpresses itself more every day
upon financiers. The whole world re-
quires its solution in its general in
terest 1t is intimated it has bound
UP the commercial and industrial prop
erty of all nations. I am a resolute
partisan for the rehabilitation of sill
ver.'
Francis a. Walker wrote applauding
1.-The gallant, gaining fight for the re-
storation OF silver to it's historical place
in the currency of the world, the BIZ
metallic League is making"
President Andrews, of the Brown
university: Our cause is making
rapid progress and we are certain to
succeed
DR.. Arendat, member of the Prussian
/ Diet, said he thought that bimetallism
at another international conference
would gain very different results from
those of the Brussels conference.
| All Are Coming to 1t.
| Balfour said many who are suspicious
! of a double standard and bimetallic
/ system now recognize it in view of the
! impending danger. The best safeguard
( was to rehabilitate silver as one of
! the. great instruments of the monetary
| transactions of the world. 1t was alb
solutely necessary that monetary func-
tons of silver be restored in order that
! business may be carried on on a solid
basis. The difficulties of international
agreement, he insisted, were merely as
| to details, and if any question should
be settled by international agreement,
surely this one should be.
Mr.. Balfour claimed the action of the
! United States had forced the Indian
and British governments into the sys-
tenn now prevailing, adding: 1--WE
ought to enter into an agreement with
the countries of the world for bimetal-
lie joint standard. The solution of the
problem is easier that it will be five
years hence. Great is the responsible
! ity OF those who keep England in
stupid, selfish isolation on this great
question.
Mr.. Leon Courtney followed, contend
ing that an international fixed ratio
was practicable, if based upon the
normal production of gold and silver.
Another One Soon TO Re Held.
The banquet to the foreign delegates
this evening was held at the Albion
hotel. Ex-Lord Mayor Evans pre-
sided. Right Hon. Henry Chaplin. for
merly president of the Board of Agri-
culture, proposed a toast to the success
of the conference and addressed a few
remarks of welcome to the delegates.
M. Henri Cornischui, president of the
French bimetallic league, responded to
Mr.. Chaplin's remarks.
Sir William H. Houlnlesworth, who
was the delegate of Great Britain at
the monetary conference at Brussels,
offered toast to the guests, and in
the course Of his remarks expressed
regrets at the absence Of the Ameri-
can representatives.
NJ George Levellie, of Brussels, and
DR.. Arendt, of Germany, responded.
DR.. Arendt said the proceedings of the
conference pointed to the fact that
another banquet would soon be held to
celebrate the solution. of this great
question.
BROOKsHIRE's NEW BILL.