The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-09-04
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BALFOJTR AND BIMETALLISM NJ.

Those bimctal!ists who have been ex-
pecting, with President Andrews, that
that England would he on her knees be-
fore silver in half year, Will be deeply
disappointed at the attitude of Mr.. Bal
four, who was looked upon as the chiet
apostle of blmetalllsm IN England anu
whose accession to power as the leader
OF the government parry in the commons
was expected to result in giving a great
Impulse to the bimetallic cause. 1t was
confidently believed that he would take
an early occasion to signify an active
and earnest interest in the project for an
international conference on the question
and to reverse the position of the Brit
lsh government on that subject as II
had been set forth by Ills Liberal pre-
decessor, Sir WEQlam Harcourt, But
when the question was put to him in the
house of commons whether he favored an
International monetary conference and
would advise the government to invite
one, his answer was not encouraging, He
was In favor Of an international agree
ment upon the currency question, but he
had no right to pledge his colleagues to
such an opinion" And as to the pro-
posed conference, 1t would be sure TO
prove abortive. 1t was therefore unde-
siraIble and he was opposed to calling
one.
This decisive dlsapproval OF the pro-
jected conference by the leading British
advocate of the dual coinage was GER
tainly discouraglng to those sangulne be-
llevers who have been expecting TO hear
by the next steamer that the governments
are about to open their mints to free
coinage, But the nations do not rush
into each others arms on questions OF
this kind with the impIlSiveness of school
glr.s on their first vacation, exchanging
vows OF undying affection. The mone-
tary systems of the world are slow of
growth, They have been evolved through
centuries of eXpt rience from the con-
veniences or the necessities of business.
The governments OF the word have
adopted such monetary systems as have
been approved by the judgment and ex-
perlencs OF their business communities,
They are not likely to change them ex-
cept upon the demand OF the men who
carry on the business and the finances OF
the countries concerned.
So that while Mr. Balfoars utterance
ON this subject in the commons Is de-
pressing to those who have expected that
he would put himself at the head of an
sgressive movement looking 10 an inn
HANAAohN NAiaAh' III Nhe fVAiNS VI
Great Britain. It win not bear the inter-
probation put upon 1t by some of the
gold standard papers as a distinct re-
nunciation OF international hlmetaliism
as a practical scheme OF monetary re-
form. All that he meant to say was that
In the present state Of European 0pin-
ion, especially as 1t is represented by
European governments. the endeavor to
push 80 radical a chanSe OF monetary
poiicy at the present time. Is premature.
Before II can be realized vast work OF
education has 10 be accomplished. BIZ
metalllsm has Already made great pro-
gress among intelligent insnelers in Eng
land and on the continent. But 1t stln
Is very Far from being understood, from
being received with favor. And the main