The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-27
The House Of Commons Discusses b.
metalliSm.
FOR INTERNATIONAL CONFERENCE,
Hope That the Government VIII Co-Ope-
rate With Other Powers TO Bring
Back the State When the Two Met
ais stood Upon Common Ratio.

Ihat the House regards with increasing
apprehension the constant fuctuation and
growing divergence Of value of gold and
silver. and heartily concurs in the recent
expression Of opinion of the Governments
Of France and Germany in regard to the
serious evils arising therefrom.
Speaking TO the motion, Mr.. Everett
appealed to Sir William Harcourt 10 give
heed to the real position of the
question. put aside theorizing and
open his eyes to the enormous
revolution Of value, which has not been
brought about by natural causes but by
legislation. He expressed the hope that
the Government would cooperate with
other powers in the effort to bring back
the state Of things which existed when
the two metals stood upon a common
ratio.
England Mr. Everett said, was rich
but that was no reason why she should
unJustly increase the burden of other
States. Surely, ne said, she was not in
terested in the bankruptcy Of other ma
tions which were owing her money, but
that was exactly what was going on. and
what would continue unless something
was done to check it.
BLOWS I'm D AT slLyER.
Right Hon. Henry Chaplin (Conserva-
tive. in seconding the motion, said that
the Government had aimed blow after
blow at silver; had closed the mints of
India, depriving silver Of its last great
market and afterwards had imposed a
duty upon the silver imports of India
The constant fluctuations Of the metal
ne declared, were directly traceable to
the monetary laws of England. He
obp Vtft bnU
ing misjudged the views of France and
Germany on the question, and predicted
that. although the opposition to bi-
metallism was now bitter. that system
would at no distant date be victorious.
because it had upon it's side experienced
justice and scientific truth. Sir William
Harcourt said he had never denied the
existence of evils in consequence OF the
growing divergence of the values OF gold
and silver When other countries had de-
sired a monetary conference the Govern
meut had not refused TO join. The last
conference at Brussels had shown that
"A majority Of the European countries de-
Clared In favor OF mOno-metallic cur
rency He did not think that Germany
had changed her opinion. When a pro-
posal from Germany or any other coun-
try reached the Government It would be
time enough to consider the question OF
\ miscouccDtiou, fe said. existed IN re-
gard to the cause Of the failure OF the
Brussels conference. The Government OF
the United States, in proposing that in
ternational conference, expressed wish
that it be held with view to establish
the ratio OF values of gold and silver by
the leading nations by means Of the free
coinage of silver in their respective mints.
Fngland ne said could not accept an in
In, Ia al
not enter into "a matter which impeached
the first principles of Englands currency.
C'Hear, hear"D
TIE UNITED STATES.
The United states Government proposed
that the conference consider what mea-
surcs. II any. could be taken to increase
the use Of silver iE the currency system
of the nations. When the conference met
a p, preventative Of the United States
Drclosel "a general resolution that m the
opinion of the conference il was desirable
that "a method should be found which
would increase the use Of silver. The
measure was supported by the British
delegates. 1t mad been alleged that the
failure OF the conference was due TO a
premature declaration on the part or SIR
Charles Rivers Wilson, British delegate
AGAINST b.metallim. This statement was
absolutely unfounlcd. IL was a German
delegate who made the first declaration o.
the kind, saying that Germany was salts
fled with fer present monetary system
aLd did not intend 90 alter IL. tHe1r.
HearJ Ha also said that Germany ie-
cCeulzed the fact that the continual oscil-
lations Of silver values were rcSr 'ttabie
from an economical point Of view, and j.
was therefore desirable hat the question
should be considered. The reports OF
France and the other powers were not so
directly opposed 10 the questions, but
rather disposed 20 criticise than 10 CO.
operate so the United States delegates
resolution had 10 be abandoned After
this Mr.. Alfred Rothschld, British dele
gate had L-ade a practical proposal for
the enlargement OF the use OF silver. and
this was defeated by the action OF Russia
and the Latin Union. II Was clear, there
fore. that as far as the objects OF the
United states were concerned no blame
could be attached to the British dele
gates for the negative results reached.
l. ERNATioNAL COURTESY.
Recurring to the possible action Of Ger
many I'm promoting another conference,
Harcourt said the Government had re-
ceived no official communication on the
subject, but he had no hesitation in say
ing that as far as he himself was respon-
8 bic such "A communication would be met
in the same manner as the proposal Of
the United States was received. (Hear
Hear) To concur In proposals TO confer
on subjects OF common interests was
what belonged 10 international courtesy.
n would suggest that II another confer
ence were held it should be understood
that It was not for mere academic discus
sion, but that the delegates ought to be
empowered 10 make definite proposals en-
bOdyng their views. The respective min
isters fully recognized the magnitude OF
the currency prOblems The interests OF
the country, as the greatest trading and
monetary centre Of the world were bound
up IN the soundness OF her currency. and
IL ought 10 be borne In mind that Eng
land conducted her trade upon relatively
the smallest basis OF any country She
did so because she had the largest credit.
(Hear Hear)
CONT NU'TY OF M POLICY.
Leaving international considerations for
the national aspect OF the question. he
contended that there ought 70 be con-
tinuity OF the currency policy which the
nations had attained. Though hoping lit
tie from an international monetary con-
ference, inasmuch as a motion had been
brought forward Oh common grounds de-
claring that evils existed which the Gov
ernment admitted. and as he had only
been invited 10 cooperate with the pow
ers on the subject. he had decided not 10
oppose the resolution. (Cheers)
The Parliamentary Bimetallist Commit
tee Immediately after Sir William Har-
court had announced his acceptance OF
Mr.. Evereti's motion. telegrapsed 10 the
Berlin B.metallst League asking IL 10
urge upon Prince Hoheniohe, the German
Chancellor, the expediency OF opening ne