The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1895-03-15
THE PROPOSED MONETARY CON-
FERENCE.

LII Is HdUUeT VI IoSlOU ohoo oh0
delegation which was selected by con-
gress to represent this country to an
international monetary conference,
should one be called, is so StrOnly
tinged with radical silver views. Out
of the six selected Congressman Hit
seems to be the only one who is at all
conservative in his views or will come
anywhere near representing the real
views of the country on the money
question. However, if there is any,
thing in the story which comes from
Washington, and was published in
last nights Minneapolis Journal, Sena-
tor Teller may be more conservative
upon the subject than he has been
credited with being. In fact the claim
is made that he and Senator Wolcott,
with others, are breaking away from
the extremists, and falling more into
line with the position taken in the
last Republican national platform,
calling for a settlement of the silver
question on an international basis.
But through the commission as Sc
lected by congress is very one-sided,
we understand that the president has
the appointing of three members
which will undoubtedly give the
sound money side better showing at
the conference, and should Senator
Teller prove as conservative as report
ed. put the radical sllverites in the
minority.
While it is probable chat England
will 90 into such a conference should
it be held, still it is plain to see that
if any arrangement is made to bring
silver into larger use among the ma
tions of the world, it must be by an
agreement of the nations aside from
England. But there is a growth of
sentiment in England for a greater
use of silver in the money volume, land
a very general feeling in favor of some
definite settlement of the silver Ques-
tiOn.
Heretofore the United States has
had to push this matter along, land has
been badly hampered by the fact that
it was taking care of large share OF
it's own silver product without regard
to the other nations Of the globe.
Now this country will go into the con-
ference freed from these incum-
ORANGES, and with Europe as the
initiator. There will be more chance
for the success of the proposed confer
ence than there was for those which
have taken place in the past, but that
does not say that it will reach any
thing definite in the matter. The
position which this country ought to
assume before the proposed confer
ence, is that outlined in the Republi-
can platform-that of genuine BIZ
metallism. 1t must stand for the use
of both gold and silver in the money
volume of the world. 1t must discard
neither in it's own circulation. This is
the least that can be done and presrve
it's credit with the world, for as the
Minneapolis Times well says, 'if the
United States are to preserve their
credit among the commercial nations
Of the world they must remain true
to the currency which the world has
accepted. If we are going to do bust
ness with other nations we must use
the same standard that they do. But
this need not prevent us from making
larger use of silver. There are some
countries in which silver is the basis
of currency. China and Japan prefer
silver. So do Mexico and the South
American countries. Silver can be
profitably used in business with these
countries and without affecting our
credit with the gold standard nations.
But whatever we do we must have
gold enough to meet all obligations in
gold if that metal is demanded. Our
business with the gold countries must
be done on gold basis. Our bonds
must be paid in gold to preserve our
credit. The money in circulation
among the people must be the best
money in the world. Cheap money
would ruin us more quickly than any
thing else. We cannot too soon assure
the world that it is our intention to
for all time to preserve the soundness
of our financial system"
This assurance cannot be conveyed
by the demand of the silver extremists
for free and unlimited coinage on Is
TO basis to the exclusion of all other
matters which may enter into the con-
sideration of the question.
II is probable, after the action of
the meeting of a representative body
of Republicans last night, that Dr.