Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1895-03-08
TlNsLEY & MORTON. ProprIetors.

han, Allegheny, Highland and Bath Counties.
Gives general and local news stories and mis-
0 elIsny; reliable commercial reports.
n. c. T1NsLEY,
A. s. MORTON.
FRIDAY MORNING. MAR. 8, 1895.
ANOTHER EFFORT FOR BIMETAL-
ISM.
Another International monetary confer
ence-the fourth-is about to be held. This
time the initiative comes from Germany.
We can hardly say we are very hopeful
about the result OF the conference; the
signs are not propitious. Hardly had the
German Parliament adopted a resolution
for the calling OF such conference to de-
wise some way for establishing an inter-
national bimetallic standard. than the
German Commercial Convention, composed
of business men from all parts of Germany,
which assembled a few days after the &C
ton of the parliament, adopted resolutions
protesting against it. The speech Of Sir
Vernon Harcourt in the British House of
Commons on the subject was equally dis
couraging. He said the government (which
he represen:ed) would as a matter of inter-
national courtesy send delegates to the
conference, but Great Britain could never
accept free coinage of silver. He said that
under the present depression of prices in
food, clothing. and everything else, the
working people of Great Britain had been
able to live better and lay 10y more money
as the Savings banks shOwed-than they
had ever before and any scheme by which
prices would be raised by the introduction
of more currency would be against the in
terest Of the working people of that cOun-
try. AS the conference will be certain
ly held. it may be interesting to look
back at those which have preceded it-all
OF which, like the present, were called in the
interest OF silver.
The first met at Paris in the summer of
1878. 1t was called by the United States.
and all the great powers, except Germany.
were there, and many of the smaller states
were represented. 1t sat thirteen days.
It adopted this cOnclusion-that while it
was desirable to retain silver as money, its
use as such should be left to each State Oh
group of States, and that the differences of
opinion that had been made apparent at the
conference excluded the discussion of the
adoption of common ratio between gold
and silver. The conference then adjourned.
In it the United States had been left by
itself in it's silver propositions. Its repre-
sentatives dissented from the conclusions
of the conference and that was the end
of it.
The second conference was called by
France and the United States. and met at
Paris in the spring Of 1881. IL sat thirty
eight days and had two new participants
Germany and British India-This confer
ence never even came to vote on the sill
yer question. 1t adjourned to meet in the
spring of the following year, but it never
reaSsembled.
The third conference was called at the
suggestion Of President Harrison, and met
at Brussels in the fall of 1892, and in addi-
ton to all the powers which had been rep
resented in the former two, Mexico, Tur
key and Roumania were present. 1t sat
twenty five days. In proposing the con-
ference, President Harrison had expressed
a wish that it lie held with view to estab
lish ratio of value between gold and sill
yer by the leading nations, by means Of free
silver coinage. Great Britain declined to
enter conference On such proposition as
free coinage Of silver. Mr.. Harrison's in
vitation was then modified to the ascer-
tanning what measures, if any, could lie
taken to increase the use of silver in the
currency of nations. Great Britain &C
copied this, and when the conference met
her delegates supported resolution offered
by the United States delegates that i'll the
opinion of the confer ence it was desirable
that method Should be found which would
increase the use Ct silver. But neither
France nor Germany would support it.
The British delegate then made a test OF
the sense of the conference by applying a
practical proposal for the enlargement of
the use of silver. It was defeated by the
votes of Russia and the Latin Union, and
that ended the conference. 1t adjourn
to meet in the spring of 1898, but never
reassembled.
In both the German and English parlia-
ments last month the supporters of gold
standard, admitted freely that the growing
divergenc e OF value between gold and silver
was great evil. While they suggested no
remedy yet it seemed from the general tone
of the debate that all recognized the neces-
sity of the adoption of some method for en-
larging the use of silver, but none went
even approximately in the direction OF free
coinage.
The selections 10y congress Of Commits |
SiOnerS to the conference when it shall |
meet, are such as no silver man can object
to, though it is to be regretted that while
all are prominent in politics, none can be
called men of affairs. They are Senators
Jones Dem. of Ark, Daniel (Dem.) of
Va, and Teller (Rep.) of Col, and Repre-
sentatives Crisp DEM of Ga, Culbeison
(Dem.) Of Texas, and Hit (Rep.) of Iii. |
All are free silver men under certain con-
dtions, and the large majority of them are
for free silver whether or no.
W. L. WILSON AS POSTMASTER
GENERAL.