Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-03-01
THE WHITE METAL
The Probability Of an International
Silver Agreement.
WHAT MEMBERS OF TEE House SAY
Substantial Results Beneficial to
Silver Hoped For.
SOME OPINIONS GIVEN

Talk of the probabilities of a bimetallic
conference. which has been more or less
active since the parliaments of Great Brit
ain and Germany have agitated the ques-
ton, has been given fresh impetus by the
adoption of Senator Wolcott's resolution
providing for the appointment of interna-
tionaf conferees. The discussion is not
confined to either party nor to any par
| ticular factions, and in the House the
feeling was a decidedly hopeful one all
around that the movement under way will
be productive Of results. The United
States has only been waiting, it is gener-
ally said, for other governments to take
! the initiative. or manifest disposition to
meet US half way. to cooperate with them
| in the Inauguration Of plan for more
extensive use of silver. If foreign powers
show that they are in earnest in the mat
ter, it is said, and proceed to demonstrate
the sincerity of their utterances by action
the sentiment Of the United States would
impel the government to act with them.
Representative Quigg's Views.
Representative Quigg of New York. one
of the working republican members, said,
in speaking of the matter:
1.-The vote In the Senate showed substan-
TALLY that the members of that body who
are in favor Of fat money or imitation are
popuIists. This is most encouraging sign
the currency question. The republican
party has always claimed that sooner or
later those foreign countries whose flnan-
cial systems are on gold basis would tire
Of pursuing course Of hostility to silver
and that the way would open to interna-
tional bimetallism. This prediction is be-
ing verified, and in the course of the repub-
lican party in doing what it could to sus-
IN fhn NJ Civ yr0r no q NM OF
without undertaking to bear the whole bur-
den Of its complete rehabilitation is being
indicated. Of course no one can say what
the issue will be Of another international
conference, but it is certain to be a step
in the right direction, and to hasten the
day when all the first-class powers will
use silver freely on ratio common to all.
1.-THE republican party Is going to do
everything 1t can to bring forward this day.
In the next Congress, or as soon as 1t Is In
position to legislate, it will go at the Ques-
mindful Of the fact that this country is
5000 miles wide; that it contains popula-
ton, with interests more or less diverse,
and that all wise and prudent legislation
involves compromises; and 1t will endeavor
to secure a result that will safely reflect
the sound sentiment of the whole country
and secure the best interests of all"
What Mr.. Springer Thinks.
'"This movement that has recently started
in Europe" said Chairman Springer of the
committee on banking and currency, must
not be construed into an effort for the re-
monetization of silver at ratio of 16 to 1.
On the contrary, there are few. II any, Eu-
ropean statesmen who believe that re-
monetization is possible. Their object is to
secure ratio so near the intrinsic value of
the two metals that the ratio established
will be the basis of international exchange
both Of gold and silver. A fixed ratio which
could be maintained would greatly facflt-
tate business and utilize to the fullest ex-
tent of commercial possibilities both metals.
What the ratio shall be is Of little conse-
quence except to silver mine owners. Silver
is now being produced at a profit at GO
cents an ounce. With the ratio 16 to 1t
would be worth $129. and 1t is very doubt
full whether, II all countries could agree
upon 16 to l, such ratio could be maintain
ed. owing to the fact that production would
be stimulated to such an extent that silver
would be as plentiful as copper. This move
receive the support Of commercial interests
regardless of any opinions on the use OF
gold and silver, for 1t can only result. II
any result is achieved, in reaching basis
on which exchange could be carried on a
fixed basis"
Hopeful of Results.
st am very hopeful that the movements
in Germany and England will be produc-
tive Of results" said Representative Hep
burn Of Iowa, who is accounted a silver
man. "Only the politicians have been
heard from before. The former movements
for bimetallic conferences have come from
governments. This is a rising of the pep
pie, the masses who have not been heard
from before. They have not clearly realfz-
ed the tendencies Of financial legislation
If the matter could be put to vote there
would be an overwhelming majority in
Germany and in England, believe, against
destroying one-half of the money Of the
world as q money Of ultimate redemption.
Even in New York city the people are
against it. do not believe there is reason
to hope for any action friendly to silver
from President Cleveland, for II any man
has been outspoken and honest in his OPP
position to silver he is the man. He has
even gone out Of his way to express his
convictions, when it required courage to do
So and II 1t was in his power he would
place the country on a basis Of absolute
gold monometallism."
Said Representative Strauss of New York:
"a small but very active coterie is work.
ing in London to bring about a monetary
conference. I am hoping that their efforts
will succeed, for If anything is to be done
to increase the use Of silver in our cur
rency it must be done by international
agreement-that is. unless we are to go on
to a silver basis as the free silver men
would have u.s.
Representative Cobb Of Missouri. who is
prominent member OF the House commit
tee on banking snd currency, said: III
the agitation in Europe is continued, as I
hope It will be, 1t will probably result in a
conference Although I am called q gold
bug I am q hearty and enthusiastic BIZ
metallist, and believe that bimetallism is
the true monetary system But this nation
cannot take care Of all the silver In the
governments must carry their part"
Complicated Situation.
A. R. Alvord, the son Of Hiram Alvord Of
Rockville. Ind, has filed notice Of contest
In tho natter Of the estate Of the Iafe