The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-03-28
THE MONETARY CONFERENCE

The dispatches state that Mr.. Cleveland
doubts the validity of the Wolcott resolu-
ton, which authorizes the appointment
of commissioners to confer with European
nations on the subject of ,emonetization
of silver. As Germany is moving IN the
direction OF bimetallism and France has
expressed a desire to come to an agree
ment with Germany on that subject it
would seem to be favorable time for the
United States to become a party to the
Franco-German arrangement-if salts
factory one can be arrived at. An agree:: .
ment with France and Germany would
be effectual in forcing other European
countries to a recognition of silver as an
international measure OF value. Austria
and Italy would certainly assent.
The plan of an international conference
has been used by the monometallists to
postpone the rugged issue of silver coinage
in this country. There have been three
conferences with no results favorable to
silver. In that of 1881 this country was
represented by three very able men, ex-
Secretary of State Evarts and ex-Senators
Thurman and Howe. Mr.. Thurman was
the only out and out bimetallist, and it
could not have been expected commission
of two against one could have accom-
plished anything of value for silver. The
last commission was a mixed concern,
composed of goldites, silverites and men,
bers of no positive views. The British
commissioners stood back and asked the
American comm ssioners to make def
mite proposition. and as there was di-
IS hav~ f1,axy
unable TO present any proposition. The
result was dissolution or adjournment
of the conference without the accomplish
ment of anything. The proposed new
conference promises better, because in
France and Germany there are indica-
tons of strong and growing sentiment
in favor of bimetallism, and even in Eng
land there are symptoms of giving up the
idea of single gold standard. 1t seems
more probable than ever before that some
thing to the advantage of silver may be
accomplished.
We agree that it is desirable that tn ere
should be an international recognition of
the double standard, and that we should
uot spare any proper effort to bring about
that result. The commissioners appointed
by the Senate and House are mainly
friends to silver; in fact, not one of them
is positively hostile, and should the Pres
ident appoint men as favorable it is prob
able that the comm issioners would be
able to present definite proposition.
There would seem to be no difficulty in
coming to an agreement with France and
Germany in coming in the ratio Ct l6 to
l, for Germany prior to 1871 coined on
the ratio of 10 to 1, and France still lee
of silver Great Britain recognized
the ratio of Is to 1. which is the same as
that adopted by the silverites in this
We therefore hope the conference co n
will be held as it can do no
harm and may possibly do some good, but
we are opposed to the using of the con-
ference idea to postpone the settlement of
the silver question in this country. We |
10 not believe the people will longer sub
nit to any declaration Of an ambiguous i
policy on that question. This country is |
The leading producer of silver and has a |
anger domestic commerce than Great |
Britain, France and Germany combined. |
as we neeu larger Volume OF money TO
conduct our home commerce free coinage |
If silver is of vital Importance to us in
assuring an amplitude of circulating me-
lium. OF all nations we are the very one |
hat should lead off in favor of silver. In
dependent and vigorous action on our
oart will do more for the cause than any
md all conferences that may or can be
leld. 1t is undignified for us to hold the
position of supplicants.