Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-03
THE BIMETALLlC CONGRESS
Senators Sherman and Teller Give Their
Views Upon It.
The Former Explains the Object of
the Telegram Sent by Him.
self and Others.

Senator Sherman in speaking today of
the London bimetallic convention and the
telegram sent by himself and other Sena-
tors to the lord mayor Of London express
Ing sympathy with the movement expressed
the hope that the convention would lead to
the calling Of another international none
tary conference, and said There is no
division Of sentiment among conservative
people as to the necessity of regaining sill
yer as one of the moneys of the country.
The only question We have discussed in
Congress Is whether we can have free coin
age without demonetizing gold. The gener-
al opinion is that this would be the result
of an attempt by the United States alone
10 maintain sixteen ounces of silver with
one ounce of gold when in the open mar
ket we can buy thirty-one ounces of silver
with an ounce of gold. While / have al
ways opposed the free coinage of silver,
have none the less desired that silver
should be used to the utmost extent pos
sible as money metal, providing only that
II would not place us on a single standard
or silver and drive gold from the country,
gold being the recognized standard In mon
etary transactions with all the chief COM
mercial nations. l therefore Joined heartily
In expressing the hope that the bimetallic
congress about to assemble in London
would recommend some plan by which all
the commercial nations would arrange
mode OF coming both metals as money.
My own opinion is that II is better to recog-
nize at once, as a fact that Is apparent.
that on account of the vast increase of the
production of silver the ratio should be
based upon the present relative market
value Of silver and gold"
What senator Teller Says.
Senator Teller, speaking on the same SUBJ
ject, said: THE Bimetallic Association
which met at Manchester is composed of
some of the ablest and best known of Eng
ifsh writers on questions of political econ
omy, together with number Of leading
men In public life. Its utterances will have
great influence not only In Great Britain
but throughout the world. Nearly II NOT
all, OF the professors and teachers of the
pest colleges of Great Britain are the open
ana aVowed supporters of bimetallism
can say confidently that the intelligence Of
europe Is with the bimetallists, and as In
Great Britain, so In other parts of Europe
IN Europe much more attention has been
given 10 questions OF political economy and
social organization than in this country
ana the active work OF these learned men
must have ultimately an influence on legis-
lation, not only In Europe. but in Ameri-
ca.
"As to the effect of the telegram
sent 70 the Manchester meeting by Sena-
tors Sherman and other Senator'S, who
have not been known as silver men. 1 think
the telegram will encourage bimetalllsm in
europe by showing that even those who
oppose the free coinage of silver have come
TO recognize the necessity of double
standard and that Ii will be seen from this
that while differences of opinion may exist
among Americans as to how we shall Sc
cure the full use of silver as standard
money, none exists as to the necessity of
the use OF both gold and silver on terms
Of mint equality"