The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-05-04

w lOL, MAY Ollie dSIIeiIiOl1
in Europe, and notably in England, in
favor of the rehabilitation of silver as
a money metal, is being observed with
great satisfaction by the administra-
ton, for it is regarded as strong con-
f1rmation of the correctness of the
principle to which President Cleveland
has so strenuously adhered through
the risk Of his own popularity with
his party.
CIeveIand's Views.
The president has contended that
true and stable equality Of gold and
silver could be brought about and
maintained only by an agreement be-
tween the great financial nations of
the world With this conviction, he
has been obliged to resolutely oppose
it, and individual action by the United
States when the extreme silver men
have declared that there was and could
be no hope Of a consummation OF the
desired international agreement.
The president has replied that a firm
and steadfast adhesion to the line of
policy intimated by the repeal of the
silver purchasing sections of the Sher-
man act must inevitably bring about
the desired result. One of the purposes
in view then was to relieve the United
States from the loss and danger to
which it was subjected by the efforts
to maintain, unaided by any OF the
great financial powers, the integrity as
a money metal of a vast silver circu-
lation.
Europe had prospered under the old
conditions and was well satisfied to
allow the United States to bear the
burden. The presidents theory was
that by suspending further efforts IN
that direction, the United states would
cause the European nations to feel the
need of a larger circulating medium
and to share at least. with US the hard
ships of monetary stringency.
His Work Successful.
There ore. the movements now in
progress in England and Germany ana
France are regarded by the administra-
ton people as evidence of the success
full work of the presidents policy
Great Importance is not attached 10
the attempt initiated by Mexico to Sc
cure another conference, though 1t IS
not true that the president has refused
to join in the movement, for as mat
ter of fact the Mexican government
has not yet mode any tangible PROPOSE
ton, and has confined its efforts to
SOunQlng OIneT " lCcA II
how formal invitation would be re-
ceived. And not knowing the necessary
promise held out by European countries
our government is not yet satisfied that
the International monetary conference
can be reached in the near future. The
pressure has not yet become so severe
as to warrant this belief on our part
that such nations as Great Britain and
Germany are ready to abandon their
long cherished convictions and take up
the double standard. Probably some
kind of an agreement might be reached
now, but according to the views taken
in financial quarters here, it would
probably not realize our desire to put
silver on a perfect equality with gold,
and it is thought would postpone in
definitely that restoration.
A Conservative Course.
Therefore, it is probable that our gov
eminent will pursue a conservative
course, declining to take the initiative
again in view of the fruitless confer
ence already held, and bide it's time I'M
til the united powers, and particularly
Great Britain, are prepared to invite
the United States to join in a confer
ence, which shall have before it some
distinct proposition looking to the re-
Mobilization of silver and with sufficient
power placed ill., the members to insure
a practical outcome