The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1895-03-06
SILVER IS COMING.
THE BRITISH BIMETTAllSTS GAIN
UNEXPECTED SUCCESS.

! French Bimetallic Views, Passes COM
mons--An International Monetary Con-
| ference Assured.
LONDON, Feb. 27.-In the House of
Commons yesterday, Robert L. Ever
ett, Liberal member for Woodbridge
Division of Suffolk, introduced the
following motion: That the House re-
CARDS with increasing apprehension,
the constant fluctuation and growing
divergence of values of gold and sill
yer and heartily concurs in the recent
expressions of opinion of the govern
ments of France. and Germany in re-
gard to the serious evils arising there
| from"
Speaking to the motion, Mr.. Ever
EFT appealed to Sir William Harcourt
to give heed to the real position of the
question, put aside theorizing and open
his eyes to the enormous revolution of
the values which has not been brought
about by natural causes, but by legis-
lation. He expressed the hope that
the government would cooperate with
| the other powers in all effort to bring
back a happier state of things which
existed when the two metals stood
upon common ratio.
England, Mr.. Everett said, was rich,
but that was no treason why she should
unjustly increase the burden of other
states. Surely, he said she was not
interested in the bankruptcy of other
nations which were owing her money;
but that was exactly what was going
on and what would continue unless
something was done to check it.
Right Hon. Henry Chaplin (Conser-
vative) in seconding the motion, said
that the government had aimed blow
after blow at silver; and closed the
mints of India, depriving silver of its
last great market and aftel wards had
imposed duty upon the silver i'm
ports of India. The constant fuctua-
tons of the metal, he declared, were
! directly traceable to the monetary laws
of England. He charged Sir William
Harcourt with having misjudged the
views of France and Germany on the
question and predicted that although
the opposition to bimettalism was now
bitter that system would at no distant
date be victorious because it had upon
its side experience, justice and scien-
tific truth.
Sir William Harcourt said he had
never denied the existence of evil in
consequence of the growing diver
gence of the values of gold and silver.
When other countries had desired a
monetary conference, the government
had not refused to join. The last con-
ference at Brussels had shown that a
majority of the European countries
declared in favor of a monometallic
currency. He did not think that Ger
many had changed her opinion. When
proposal from Germany or any other
country reached the government, it
would be time enough to consider the
question of England's joining in
another conference.
A misconception, he said, existed in
regard to the cause of the failure of
the Brussels conference. The govern
ment of the United States, in propos-
ing that international conference, ex-
pressed wish that it be held with
view to establishing the ratio of val
ues of gold and silver by the leading
nations by means of the free coinage
of silver in their respective mints.
England, he said, could not accept an
invitation couched in such terms, and
could not enter into a matter which
impeached the first principles of Eng
lands currency. ("Hear, hearn) The
United States government thereupon
proposed that the conference consider
what measures, if any, could be taken
to increase the use of silver in the cur
rency system of the nations. When
the conference met, a representative
of the United States proposed a gen.
eral resolution that in the opionion of
the conference it was desirable that
method should be found which would
increase the use of silver. This reso-
luton was supported by the British
delegates. 1t had been alleged that
the failure of the conference was due
to premature declaration OH the part
of Sir Charles Rivers Wilson, Brit
ish delegate, against bimettalism. This
statement was absolutely unfounded.
1t was German delegate who made
the first declaration of the kind. say
ing that Germany was satisfied with
her present monetary system, and did
not intend to alter it. C'Hear, hearn)
He also said that Germany recog
nized the fact that the continual oscil.
lations of silver values were regreta-
bic from an economical standpoint,
and it was therefore desirable that the
question should be considered. The
representatives of France and the
other powers were not so directly op-
posed to the question; but were rather
disposed to criticize than to cooperate,
so the United States delegates resolu-
ton had to be abandoned. After this,
Mr.. Alfred Rotschild, a British dele
gate, had made practical proposal
for the enlargement of the use of sill
YER, and this was defeated by the &C
ton of Russian delegates and the Lat
in Union.
1t was clear therefore that as far as
the objects of the United States were
not concerned, no blame could be at
tached to the British delegates for the
negative results reached. Recurring
to the possible action of Germany in
promoting another conference. Har-
court said the government had receiv-
ed no official communication on the
subject but he had no hesitation in
saying that as far as he himself was
responsible such a communication