The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1895-09-24
JUDGE HUGHES ON SILVER.
Tho United States Can Establish It's Own
Monetary system.

nent. occupied 10 chief part by forty- a va
great and hourishing States, inhabited
BY free, industrious, prosperous and
happy people. For these forty-five in.
dependent States we have already an
international conference which meets
every year, which Is bI-cameral, and
shereoy conservative, which Is re-
sponsive to the will Of the people, and
which Is qualified by intelligence and
the courage Of conviction to deal suc-
cessfully and for the general good with
every measure that may be proposed for
the public welfare, We call 1t a Con-
gress, and for US, for our forty fl e sister
Stale or nations, 1t Ia the very best.
safest and wisest international con-
ference we could possibly conflde in.
cardinal principle OF our policy,
from the birth Of our Government, with
respect to Europe has been TO beware OF
entengling alliances. Our American in
ternHtional Congress- ia not only compe-
tent to re-estsblish in our own country
tho constitutional monetary system OF
gold and silver. but will fad It neces-
sary to do 30, by its own act, In the
course of an early future. The fatuous
socialism which boasts and vaunts TO the
contrary will "have it's day" like the
animal in the proverb, and will PASS
away, after an ephemeral existence,
probably amid the excavations of the
public.
But while the true blmetallists of our
country scorn the thought Of waiting
for the approval of Europe in this mat
ter, they have all, without exception,
recognized the necessity to Europe itself
OF On international conference of
European nations for the purpose of
bringing out OF chaos into some COM
mon system OF currency the heteroge.
neous medley Of coins now circulating
In the countries Of Western Europe,
issued from as many mints as there are
principalities and powers, big and little,
In that portion Of the world.
The demonstration OF silver in West.
ern Europe has 40 radically and thor
oughly demoralized the myriad coins of
their many mints that some inter.
national action has come to be regarded,
and, by the great powers, dresded, as
al international necessity. 1t ia medi-
cine over which the greater powers
make wry faces, but which they will be
obliged to take early and promptly.
Over here in America we appreciate
the situation In Europe, and IL the send
ing of q delegation from the United
States will help the calling OF con-
ference there, our bimetallists are per-
fectly willing to send it. 1 think the
advocates OF the free coinage of silver
in our last Congress voted unanimously
in favor OF the measure, and some of
the most pronounced free silver men in
both branches of that Congress con-
scented to be members of the embassy.
The free coinage party of this country
approve of what was done by Congress.
and commend the free coinage mem
bers and Senators who accepted ap
pointments on the commission. 1t 10
not the free coinage party here that is
obstructing the European conference,
but the gold trust and Its following.
This Ia notorious.
Nor need we deceive ourselves in re .
gard to the real problem to which the
European conference will have to ad-
dress Itself when, and If, 1t meets. II
will not be the ratio or parity of gold
and silver. That Is essa blished already
by nature. Give the two metals the
equal privilege of the mints, and the
ratio takes care of itself Municipal
law Is necessary to the fixing and
legalizing OF what nature has already
arranged, but it cannot materially
change the ratio or parity Of value
which nature works out "a the true one.
No. 1t will not be the ratio which the
European conference will have to bother
itself with The real problem will be
how to get rid of the heterogeneity
which new sflicts the circulation Of
western Europe; how to devise sys-
tenn OF coinage that will give 1t conve-
nient, acceptable and faclle currency in
all the States represented In the confer.
epce. or course the relative value of
gold and silver will have to be settled in
limine In devising the system; but that
will have been practically determined
beforehand at 15M to /. It would dis
credit the whole work of the conference,
and entail failure upon it at the vary
threshold, to subvert the established,
and tor Europe, the only conservative
ratio. 1t Is not the ratio that will tax
the Craftsmanship Of the conference,
but the problem OF creating a metallic
circulation that will have free currency
throughout the Jurisdiction for which it
is devised.
Although the ratio is matter really
not in controversy. is a thing settled
almost as definitely as the specific
gravity Of water, yet 1t has become
monotonous theme with the Grass poll
ticians and pigmy partisans of the
American hustings. Tne zeal, vehe-
mence and occasional ferocity with
which these debators n this great cause
OF Nothing vs. Nothing acquit them
selves is. have no doubt, exceedingly
amusing to the gods.
do not think there is much promise
OF the restoration Of the bimetallc
policy in our country before March.
1877, when the present Federal admin.
istration will vacste the government I
fear the gold trust will be powerful
enough in the intervening Congress to
defeat the passage of any legislation
on the subject over the Presidential
veto.
1t Is for that reason tina. I have
looked with interest to the calling OF an