Omaha daily bee., 1895-08-26
MR.. BALrOUR'S STATESfENT.

The true friends of silver, those who
have hoped for a larger use of that
metal in the worlds currency through
international agreement, will be dsap-
pointed at the statement made by Mr..
Balfour in the House Of Commons. 1t
was not expected, of course, that the
British government would take any steps
to promote the holding Of an interna-
tional conference to consider the silver
question. That matter did not enter
into the late campaign and while it was
considered by the electors in n num-
ber of districts and men were chosen
who are pronounced bimetallists, still
wise committed regarding the
silver question. The fact, how
ever that Mr. Balfour and several
other members of the ministry are pro-
nounced bimctallists and That Salisbury
himself has manifested leaning to-
ward bimetallism naturally caused It
to be believed that the government
would take no position unfriendly to
the holding of monetary conference,
even If it did nothing to favor the
proposition. The warranted expectation
was that it would not interfere with the
project and that If conference should
be called it would send delegates among
whom the bimetallists would be repre-
sented.
Although it is said that the British
bimetallists are not at all discouraged
by the statement of the government
leader in the Commons, it may as well
be admitted that it disposes of all hope
of an international monetary conference
during the present year and probably
during the existence of the Salisbury
ministry There is no other rational
conclusion to be drawn from what Mr..
Balfour said. He still believes there
ought to be an international agreement,
thus showing that he is still in favor
of bimetallic policy, but he does not
think such an agreement would be
helped by an international conference.
He could hardly have said anything
more strongly hostile to a conference and
those who are opposed to any efforts
to rehabilitate silver are entirely correct
in the construction they put upon the
utterance. Mr.. Balfour disclaimed any
right to pledge his colleagues, but it
Is not to be doubted that all of them
concur in his view.
After this declaration from the man
who occupies the second place of author
ity in the British ministry, and from
whom there was expected friendly
interest in the proposed conference, it
would seem perfectly safe to assume
that the German government will no
longer seriously consider the question
of inviting the nations to a conference.
That government has hitherto been
guided in this matter by the position of
England and there can be no doubt
it will continue to be. Without it's in
itiative there will be no conference and
in the absence of British cooperation
Germany will not take the initiative.
Such being the situation it is obvious
that the subject of an international
monetary conference may as well be dis
missed from consideration, however re-
luctant the real friends of silver may
be to do this One effect of Balfours
statement upon the silver issue in this
country will probably be to intensity
the demand for Independent action by
the United States, but it will not neces-
Sarily increase the strength of the free
silver element, though it may check the
disintegration of the free silver forces
which has been rapidly taking place.