The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-03-01
THE CLOVEN HOOP.
It Appears in the Scheme to Change the
Bi-metalIic Ratio.

Bi-metalIic Ratio.
WASHINGTON, March Talk of the
probabilities of bi-metallic conference
which has been more or less active since
the parliaments of Great Britain and
Germany have started the question, has
been given fresh impetus by the adop-
ton of Senator Wolcott's resolution, pro-
viding for the appointment of interna-
tional conferrees. The discussion is not
confined in either party, or to any
particular faction 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.
Representative Guigg of New York,
one of the working Republican men,
bers, said in speaking Of the matter:
s'The vote in the senate showed sub
stantially that the members of that body
who are in favor of fiat money, or
initiation, are Populists. This is a
most encouraging sign of healthy state
of public sentiment on the currency
question. The Republican party has
always claimed that sooner or later those
foreign countries whose financial systems
are on gold basis would tire of pursu-
ing a course of hostility to silver, and
that they would open to international
bimetallism.
"This prediction is being verified and
the course of the Republican party in
doing what it could to sustain the use of
silver Il money metal without under
taking to bear the whole burden of it's
complete rehabilitation is being vindi-
Gated
Gin the next congress, or as soon as it
is in position to legislate, the Republi-
can party will go at the questions of BIZ
metallism and currency reform, mindful
of the fact that the country is 5000 miles
wide; that it contains a population with
interests more or less diverse, and that all
wise and prudent Legislation involves
compromise, and it will endeavor to Sc
cure a result that will safely reflect the
sound sentiment of the whole country
and secure the best interests of ALL"
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 reconciliation of
silver at ratio of Is to 1. On the con-
trary there are few if any European
statesmen who believe that remonetiza-
ton is possible. Their object is to secure
a ratio SO near the intrinsic value OF the
two metals that the ratio established
will be the basis of international
exchanges, both of gold and sill
yer. What the ratio shall be is
of little consequence except to silver
mine owners. Silver is now being pro-
duced at a profit of 90 cents an ounce.
With the ratio Is to 1, it would be worth
$129, and it is very doubtful whether if
all countries could agree upon Is to 1,
such ratio could be maintained, owing
to the fact that production would be
stimulated to such an extent that silver
would be as plentiful as copper"
81 am very hopeful that the movements
| in Germany and England will be pro-
| ductive of results" said Representative
Hepburn, (Rep) Iowa, who is accounted
as 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 people. I do not
| believe there is reason to hope for
any action friendly to silver from Presi-
| dent Cleveland; for if any man has been
| outspoken and honest in his opposition
| to silver he is the man."
Said Representative Straus of New
| York: "a small coterie is working in
London to bring about a monetary con-
| ference. / am hoping that their efforts
will be successful"
Representative Cobb, Dem, MOI who
is prominent member of the house
! committee on banking and currency said :
| "If the agitation in Europe is continued,
| as hope it will be,it will probably result
in conference. Although I am called