The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-28
AND WHAT WOULD A CONFERENCE
AHOINT 40:

this is what he said.
americans must not build too great
hopes on the Re.chstag's vote. IL VIII
require a long time, for technical rea-
sons alone before any practical result
can possibly be seen. / do not doubt
that the German farmer would beneht
by the change If effected. The Imperial
Government undoubtedly will find the
Federal States divided on the question
Saxony, as silveT-9roducing country is
for bimctallism. Bavaria is staunch
monomctallist Moreover, tic present
imperial currency is entirely satisfactory
20 the German commercial world. me
pu bic dislike the silver thaler. The banks
often have tried 10 circulate larger guam
titles Of silver thaleTs, Of which we mona
20.Wo OOl i'm the vaults of the Rci"hsbank
bu, the coins rave been returned 10 thtr
Golfers almost as rapidly as they were
sent out"
This has n rro iigious amount Of Amer
lean coloring in it. The farmers IN Ger
many ere for free silver. as many are
in America, in the hope that it would
make lie Prices Of their crops
higher, not rejecting that even
if this should be the result. every
thing else would be higher. 100.
Saxony, berg producer Of silver, stands
in the place of our silver States, and
she asks for 1t that she may always
have provided a market for her product
in which sic may sell it for faG more
ttan it's real value while Bavaria, with
nothing but the ordinary, everyday trans
actions Of life t. eug'gt the attention Of
her people. corresponds to the everyday
business man Of America, and she asks
for nothing but a dollar Of fixed and un-
varying value. so that her people may
know when they enter into contracts that
the dollar on which they base their cal
culations at the beginning shall be exact
" the same dollar at the end. They thus
know exactly where they stand in all
the steps of their enterprises, and they
| are. therefore. always stimulated and en-
| couraged to undertake new enterprises.
| But il a threat is always held over their
| heads that the dollar as it exists when
! they go into an enterprise is 10 be greatly
diminished in value at the time the
enterprise is completed. they say they
Will undertake no new enterprise, because
they can never tell where they stand.
Men Will contract TO pay them dollars
and when payday comes will deliver
them things that bear the name of dol
lars and which the law will compel them
10 receive au dollars. but Whch are really
| worth only fifty cents each. They say
therefore. that they will start no new
! autaVurisee but will daVota tbeir alton
| tion to an effort to secure themselves in
the possession and enjoyment of the
| money and property they have. This
part OF the population of all countries
knows that after that reasonable amount
of standard money is had that is
necessary. under modern conditions of
quick transportation and quick trans
mission of Intelligence, for effecting the
exchange of commodities. all the rest is
a useless waste of capital. These men
know that what they want for active bust
ness is not quantities of dollars because
they make transfers Of credit do all that
dollars could do. and far more satsfac-
torily than dollars could do it, but that
what they want is sOl Id dollars of fixed
and unvarying value.
1t seems entirely likely that there will
be another international monetary con-
vention shortly held. out the speech de-
lvered IN the English House of Commons
on Tuesday 10y Sir William Vernon Har-
court when the proposal for such a con-
/ ference was before that body. gives very
little hope that the conference will
amount to anything so far as Great
Britain is conc rned. He called atten-
/ ton to the fact that the Government Of
the United stat Is, in proposing the Brus-
sells Conference. expressed "A wish that it
be held with a Yiew to establish the
ratio of values of golG and silver by the
lea ding nations of The world by means OF
the free coinage of silver in their re-
spective mints. England, ne said, could
not acceI an invitation ccUched in sucn
terms. and could not enter into matter
which impeachel the first principles of
! Englond's currency.
| This is an dnequivocal declaration that
! Great Britain will not even discuss a
! proposition to open her minis TO the free
coinage Of silver. under d law fixing a
relative value between gold and silver
! and TO thereafter force u.u g.
silver coins based upon that ratio in pay
ment of debt. and we have rot the slight
est doubt that in making this statement
Sir William had the oyerwhclm-
Ing body of the English nation at his
back. Any attempt of this sort would be
/ deadly blow at that even and transcend
ant commerce that she does which is the
source of her wealth and her immeasura-
( bic power. Nor have We the slightest
idea that If ali international agreement
/ for the free coinage of silve" were ar
! rived at which included England, that
/ IL would have the effect of introducing
! silver into current use in England or
/ in English transactions. IT is undoubt-
/ eddy true. as general rule. thct the cheap
money Will always drive out the dear.
but that is where both stand upon the
same footing. The rule may be reversed
/ If the dear has the backing in it's contest
of a great financial power which is capa-
bic of imposing its will upon lose who
control the exchanges and the money
markets. This powe. the Bank of Eng
land has in British affairs, when CO.
operated with by the masters and po-
tentates OF finance. We have not the
slightest doubt that If the international