New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-03
FROM AMERICA.

n.
london. May 2-The International B!metallic
conference was f,tmaly opened in the Mansion
uouse to-day. The opening address was de-
uvsred by ex-Loid Mayor Sir David Evans. A
,o,se number of delegates were present, includ-
A., some Of the best-known of British and for
1vn fnanciers Among them were Sir William
,Iou,dsworth NJ. T.: the Right Hon. W. Lid
asraale Ex-Governor Of the Bank of England;
cir David Barbour. ex-Secretary to the India
council: the Right Hon. Henry Chaplin, NJ F.;
Samuel Montagu. NJ p; Brooks Adams. of Bos-
.or Mass: NJ Van den Berg president of the
ponk Of the Netherlands Amsterdam; NJ. G. Nj.
po,sseyain OF Ans ,erdam; NJ. Alphonse Allard.
=, brussels: NJ. George de Laveleye Of Brussels;
N Henry Cernuschi. OF Paris, president OF the
French Bimctallic League; David Murray, presi-
dent of the Chamber Of Commerce of Adelaide
South Australia and president OF the South
Australian Bimetallic League; Hugh NJ. Mathe-
son. Sheriff .Dimsdale d London banker; Thomas
Salt late president of the Bankers Institute;
Sir Malcolm Fraser, Agent-General in London
for Western Australia. and a. J. Balfour, ex-
Chief Secretary for Ireland. The conference was
nresided over by Lord Mayor Tyler
Letters were read from Archbishop Walsh. OF
Dublin. and the president Of the Bank OF France
regretunC tnclr lndp!llN 10 pc 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 Cold and the
Divergence in the Relative Value Of Gold and
Silver" and a general discussion OF the subject
Mr.. Balfour. in the course Of the discussion:
said he believed that Government regulation or
coinage If IL were done in the direction OF max
Ing it more stable and q fairer measure OF value
could not be jus'hably opposed Iney We're now
he said, standins face 10 face win siea. udH-
ger which could only be averted by the re-
babUtation Of silver tC It's proper commerCld
function. In order 10 do this interhauohaI dcuoh
was absolutely necessary.
Mr.. Balfour said that there were 5hIee ques-
tions with which bimetallism mad TO cope.
They were these: Was d double standard pos
sible? Was II just? Was II eNpedlent' Sclenusts
and economists answer these questions with an
overwhelming Yes" He would not say whether
the closing Of the Indian In.nts was wise step
but ne did not doub- that II was the Ilost
striking attempt that a civilized goverhmsen. 1s.
had ever made TO solve monetary dlhcuIly tnd'
was directly due to mOnOmetallism
Mr. BalfOur said he saw signs OF change IN
English opinion. The leading commercial men
had abandoned their former hostility 10 oiinelai-
Vsr and come 10 the conclusion that the only
way to meet the grave danger was TO restore Sill
yer 10 its former place as a circulating neuiuH.
Mr. Balfour also said IL was mere cream 70
sunnose that each State able 10 regulate
its own currency independently. 1t was ABSURD
10 talk Of taking an Isolated view or the brltlsH
which had not been taken in concert with or from
any friendly feeling toward Great Britain had
forced upon India and England the adopuon OF
the astounding system which now preValleu IN
India England's present isolation was selnsh
and stupid. He spoke personally and for no
party. he said.
read a paper on The Practicabty OF Maintain
ing a Ratio Between Gold and Silver Under an
International Bimetallc Agreement, ana dis
cussion Of the paper followed. .,...,
Letters in support Of bimetallism were received
from General Francis a. Walker, Archbishop
Walsh and President e B. Andrews OF Brown
University. letter was read from H. w. can
non president Of the Chase National BANK OF
NAV-York in which the writer said tnat the
solution of the problem Of bimetallism rests with
Great Britain e..,o. 80
Dr. Arendt the eminent German nnancier' er vH-
pressed views similar 10 thOse CoH'a'ieu ''' -
Cannons letter. w.t., c.o.os
Senators sherman, Voorhees,. Aldr1ch, Murphy
Price Platt Davis Carey and Culom, ~lshnS
success 10 the conference in promoting the cause
Of bimetalliSm in England ..
The bimetallists had banquet this evening
Henry Chaplin. former President OF Ihe l,oaru ~
Agriculture was the chief speaker He reiterated
his familiar opinions on the silver question:
London, May 3.-"The Daily News ridicuieS
the bln1etallists and the proceedings OF the con
ference 1T would be absurd it says, 10 give
away the advantage accruing from the unassail-
able position of our currency without clear idea
Of the alternative policy. . .,,,
"The Morning Post" says: "Mr: Baifour failed
10 prove that bimetallisIn woulu remove the
difficulties Of the situation.
'The Tines deprecates Mr. Balfours part IN
the conference. 1t says: mo man can combine
the Incompatible functions or an aposte Oh lduS
and a responsible statesman without in)urlne ms
usefulness Mr. RalfOur is more headstrong ana
Incorporate in dealing with bimetallism than In
treating of any other subject.
THE Tines also crticses and refutes MT.
Balfour's arguments.