The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-05-03
SILVER AND GOLD ASMONEY.
An International BimetalliSt Confer
elCe in Session.

The sittinRs Held in the Mansion
House at Londonderry Prominent
Financiers Present-A. ]. Balfour
One of the Speakers of the Day.
Three Questions With Which BIZ
metallism Has to Cope.
London, May 2.-The International BIZ
metallist conference was formally opened
in the Mansion house to-day. The open
ing 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 hnanciers.
Among them were Sir William
Houldsworth, member parliament; w, L.
Iidderdale, ex-governor of the bank of
England Sir David Barbour. ex-secre-
tary to the India council; Henry Chaplin,
membe of parliament; Samuel Montague,
member OF parliament; Brooks Adams, of
Boston. Mass. NJ, NandenberC, president
of the Bank of the Netherlands, Amster-
dam: g. NJ. Boissevain, of Amsterdam 4;
Alphonse Allard, of Brussels; George de
Lavelleye, of Brussels; Henri Cernuschl,
of Paris, president of the French BIZ
metallic league; David Murray, president
u
South Australia, and president of
the South Australian Bimetalhc League;
Hugh NJ Mathesou, Alderman and Sher-
if Dimsdale, a London banker; Thomas
Salt, late president of the Bankers lnsti-
tute; Sir Malcolm Frazer, agent general
in London for Western Australia; and A.
j. Balfour, ex-chief secretary for Ireland
Letters were read from Archbishop
Walsh of Dublin, the president of the
nj nf
their inability to be present.
FALL IN THE RELATION OF PRICES.
A paper was read by Prof. Shield
Nicholson on the fall in the level of prices
in relation to the appreciation of gold and
the divergence in the relative value Of
gold and silver. and general discussion
of the subject followed.
The conference was presided over by
Lord Mayor Tyler. acknowledgements .--.----..-----
Cablegrams were read from United
States Senators Sherman, Voorhees,,
Aldrich, Murphy, Brice, Platt, Davis,
Carey and Cullom, wishing success to
their conference in the case of bimetaIlism
in England
A j. Balfour, in the course of the dis
cussion, said he did not believe that gov
eminent regulation of coinage, if it were
done in the direction of making it more
stable and fairer measure of value could
be justihably 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 rehabilita-
tion of silver TO its proper commercial
function. In order TO do this interna-
tional action was absolutely necessary.
THREE QUESTIONS.
Mr. Balfour said that there were three
questions with which bimetallism had to
cope They were these: WAS a double
standard possible?" WAS it justl' WAS
it expedient?" Scientists and.economists
answer these questions with an over
whelming yes. p" He would not say
whether the closing of the Indian mint
was wise thing, but he did not doubt
that it was the most striking attempt
that a civilized government had ever
made TO solve a monetary difference that
was directly due to mOnometalhsm.
Mr.. Balfour said he saw signs of a
change in English opinion The leading
commercial men had abandoned their
former hostility to bimetallism and had
come to the conclusion that the only way to
meet the grave danger, was TO restore sill
yer to its former place as a circulating
medium.
MERE DREAM.
Mr.. Balfour also said it was a mere
dream to suppose that each state was
dDib 10 uld 70 us own CURRENCY lnuGpen-
IDENTIFY 1t 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 feeling toward Great
Britain, had forced upon India and Eng
land the adoption of the astounding
system which now prevailed in India.
Englands present isolation was selfish
and stupid. He spoke personally and for
no party, he said.
The bemitallists had a banquet this
evening. Henry Caplin, former president
OF the board of agriculture, was the chief
speaker. He reiterated his familiar
opinions on the silver question.
AN IMPORTANT PAPER.
Leonard II. Courtney, NJ. P, read a
paper on THE Practicability of Main
tanning Ratio Between Gold and Silver
Under an International Bimetallic Agree
ment," and discussion of the paper fol-
lowed
Letters in support of bimetallism were
received from Gen Francis A. Walker
Archbishop Walsh and Prof E. B. An
drews, of Brown University
A letter was read from Mr.. H. w. Can
non, president of the Chase National
Bank of New York, in which the writer
states that the solution of the problem of
bimetallism rests with Great Britain.
DR.. Arendt, the eminent German finan-
cier expressed views similar to those con-
tanned in Mr.. CanLon's letter.
HOW sovEREIGNs TRAVEL.