The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-03-18
INTERNATIONAL
BIMETALLISM
English Government Viii Make an
Effort to Equali1s the yaiue
Of Gold and Silver.
WILL NOT DEPART FROM CO
chsasslIOr Of the Exshsquer Thiaks an la
tsrnatiOnal Agreement Night Possibly
Bring the ysIHe Of the Metals Closer
Ihaa at the rreseae Time.

Special 20 the Astorian.
London, March 1.-THE government
will support the Whiteley blmetaiiic mo-
ton, with the qualification that the gov
ernment does not intend to depart In
the slightest degree from the gold stand
ard.
The motion Of Whitley recited that Il
Is the opinion Of the house that the In
stability In the relative value OF gold
and silver since the action Of the Latin
Union In 1s73 had proved injurious TO the
best interests OF the country. and II
urges upon the government the advisa-
bility that they do their utmost TO secure
an international agreement.
Chancellor OF the exchequer. Sir Will
liam HIcks-B Beach, said that. although
bImetallism was involved In the motion,
its adoption by the house did not neces-
5arily involve the adoption Of a bimetalllc
system by the United Kinkdom. He
thought II was impossible to fix the ra-
ito absolutely independent Of the market
fluctuations Of such articles.
Sir Michael also added that the adop-
ti0n Of an international agreement BY q
sufficient number OF nations might possi-
bly, bring the value OF the metals closer
than at present.
In respect to ratio. Sir Michael said he
had been told the United States would
probably desire l5h or Is to I. but. IN
view OF the present price Of silver. It
seemed to him that such a ratio was abb
solutely dishonest to creditors and would
simply mean a financial panic. with pos
sIble disastrous effects TO the credit OF
the country.
Nothing Is more important to Great
Britain than the extreme danger OF alter
ing the currency. for Great Britain. under
the gold standard. instead OF being ruin
ed. was singularIy prosperous. Wealth
was more generally diffused among the
working classes. and higher wages we're
being paid, than ever before. No coun-
try in the history Of the world, the
speaker said. was ever In better posi-
ton to bear the enormous loads Of tax
alton with less discomfort. Thereforc. he
saw nothing to justify altering Great
Brttain's currency system
The chancellor Of the exchequer admftt-
ed. however, that there was a depression
in husbandry and the cotton industry.
But he claimed the cause was to be found
in low prices. which were due at one
time to the appreciation OF gold But the
production OF gold had largely increas-
Z ed, and now, higher than ever. stood ths
remarkable fact that the same veal
which had shown an enormous and un-
exampled stock of gold in the banks
had showed the lowest prices on record
Might there not be reason for the fal
in prices without anything to do will
the appreciation Of gold? The fact wal
/ that tie fall in the price Of neari,
every article was due to foreign com
I petition. which was due to an incress
in production. and the more effective
use OF capital. owing to the wider sys
I tenn OF credit and the use Of the tele
graph and the vast extension Of the ran
ways of the world and Improvements 4
the mercantile marine.