The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1894-05-08
A BIMETALLIC CONFERENCE.
English Statesmen Admit that Silver
Must be Placed on u Parity With
Gold

Solus
LONDON, May 2.-The international
bimetallist conference was formally
| opened in the mansion house to-day.
The opening address was delivered by
Sir David Evans. "A large number OF
delegates were present, including some
of the best known of the British and
foreign tinauciers.
Letters wore read from Archbishop
Walsh, OF Dublin, the president of the
Bank OF Franco, and others, rcgrctting
ther inability to be present. A paper
was read by Professor Shield Nichol-
son 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, and a
general discussion of the subject fol-
lowed.
Cablegrams were read from United
States Senators Sherman, Voorhees,,
Aldrich, Murphy, Brice, Platt, Davis,
Carey and Cullom wishing success to
the conference in the cause of bimctal-
lism in England.
"A. j. Balfour, in the course OF the
discussion, said he did not believe the
government regulation of coinage, if it
were donc in the direction of making
1T more stable and a faircr measure of
value, could be justifiably opposed. The
nations OF the world were now, he said,
standing face to face with great dan
ger which could only be averted by the
rehabilitation of silver to it's proper
commercial function. In order to do
this international action was absolutely
necessary. Balfour said that there
were three questions with which BIZ
metallism had to cope. They were
these: Was a double standard pos
sible? Was it just? Was it expedi-
ent? Scientists and economists an
swer these questions with an over
whelming YES" He would not say
whether tho closing of the Indian
mints was wise step, but he did not
doubt that it was tho most striking at
tempt that civilized government had
ever made to solve a monetary diff
Guilty that was directly due to mono
mctalism. Mr.. Balfour said he saw
signs of change in English opinion.
The leading commercial mon had
abandoned their form of hostility to
bimetallism and come to the conclusion
that the only way to meet the grave
danger was TO restore silver to it's
former place as circulating medium
Mr.. Balfour also said it was u mere
dream to suppose that each State was
able to regulate its own currency in
dependently. 1t was absurd to talk of
SuNlhS XVI looiducu VIC" vi I)ElUlSl cur
rency whom the action of the United
States, which had not been taken into
concert with or from any friendly feel
ing toward Great Britain, had forced
| upon England and India the adoption
| Of the astounding system which now
prevailed in India. England's present
isolation WIS selfish and stupid. He
spoke personally and for no party he
said.
Leonard Fl. Courtney, member OF
parliament, road a paper on "Tho
| Practicability of Maintaining II Ratio
| Between Gold and Silver under an In
tcrnational Bimetallic Agreement y
and n discussion of the papc.' followed.
Letters in support of bimetallism were
received from General Francis A. Wal.
ker, Archbishop Walsh and Professor
E. b. Andrews, of Brown University.
n letter was read from Mr.. Fl. II
Cannon, president of the Chase Nation
al Bank, of Now York, in which tho
writer said that the solution of the
problem Of bimetallism rests with
Great Britain.
DR.. Arndt, the eminent German fl
nancicr, expressed views similar tt
those contained in Mr.. Cannon's letter
The bimctallists had banquet this
evening. Henry Chaplain, former pre-
sident of the board of agriculture, wa.
the chief speaker. He reiterated hi.
familiar opinions on the silver ques
| tiOn.