The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-05-04

WASHINGTON. D. O., May 9.-Tho avi.
tation In Europe and notably in Eng
land, in favor Of tho rehabilitation OF sill.
vcr as 4 money metal Is being observed
with tho greatest satisfaction by tho ad-
miniatration, forit is regarded as strong
confirmation OF tho correctness OF tho
principle to which President Cleveland
has SO stcadfas,ly adhered through thick
and thin and sometimes at tho risk OF
his own popularity with his party.
The President has contended that
true and stable equality Of gold and sill.
vcr could be brought about and main
tained only by agreement between tho
great financial nations Of the world.
with this conviction ho has been
Obliged to resolutely oppose allattempts
at individual action by tho United
States, and when the extreme silver
men have declared that there could be
no hopo OF consummating tho desired
international agreement, tho President
has replied that a firm aud stendfast
adherence to the line Of policy initiated
by the repeal Of the silver purchase Sec
tlons OF tho Sherman act must inevita-
bly, bring about the desired result.
THE PURPOSES.
Ono OF tho purposes in view then was
to relieve the United States from the
loss and danger to which it was subject
ed in the efforts to maintain, unaided by
any of the great financial powers, tho
integrity Of 1t as q money medium.
Europe had prospered under the old
conditions and was we'll satisfied to al
low the United States to bear the bur-
den. The Presidents theory was that
by susponding further efforts in that
direction tho United States would cause
the European nations to feel the need
OF larger circulating medium and to
share, at least, with US the hardships OF
monetary stringency.
Therefore, the movements in progress
in England and in Germany and France
are regarded by tho administration peo-
pie as evidence OF tho successful work.
ing OF the Presidents policy.
MR. suERMAN's VIEWS.
Senator Sherman, in speaking to-day
OF the London bi-metallic convention,
and tho telegram sent by himself and
other senators to tho lord mayor OF Lon
don expressing sympathy with tho
movement, expressed the hope that the
convention would lead to tho calling Of
another international monetary confer
enco and said: ,t,.
"Thero is no division of sentiment
among conservative people as to the ne
cessity Of retaining silver as one OF the
moneys OF the country. The only ques-
tion we have discussed in Congress is
whether we can have free coinage with
out demonetizing gold. The. general
opinion is that this would bc the result
Of an attempt by the United Statea
alono to maintain sixteen ounces OF ail-
yer with one ounce of gold, when in the
open market we can buy thirty-one
ounces of silver with an ounce OF gold.
While l havo always opposed tho
free coinage of silver, I have
none the less desired that silver should
be used to tho utmost extent possible
as q money metal, providing only
that it would not place US on similar
standard of silver and drive gold from
the country, gold being the recognized
standard in monetary transactions with
all the chief commercial nations.
therefore joined heartily in expressing
tho hope that the bi-metallic congress
about to assemble in London would re.
commend some plan by which all the
commercial nations would arrange a
modo OF coming both metals as money"