The Caucasian. (Clinton, N.C.) 188?-1913, 1896-03-26
INTERNATIONAL"
FOOLISHNESS.
A Record of Some ''InternatiOnaI
Agreement Conferences"
Which Failed.

Which Failed.
csspsIeI Othsr csss.riss To Sikh 10 The Agree
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Chicago Times Herald
There are intelligent and patriotic
Americans who favor honest money,
yet believe that an International
agreement might be reached for the
free coinage Of silver for a limited
period at q ratio to be adopted and
maintained among tie countries
having commercial intercourse wi b
one another.
The advocates of q silver standard,
a totally different category, also IA
vor, naturally, and international
agreement for feee coinage Of silver.
The Times Herald, while holding
that the place of silver in the best
currency is limited and subsidiary,
would be pleased to find evidence,
nevertheless, that an international
agreement could be effected by
which the two metals should be
safely and beneficially used on equal
terms at any ratio,
There have been already three in
ternational conferences for the pur
pose of remonetizing silver. There
was, it is true, conference in 1867,
but its particular object was agree
mept for an international coin.
Tho conference of 1867 accom-
plished nothing. That of 1873, the
first of the three in the interest of
silver, accomplished nothing. 1t
was called by the United States and
met at Paris, remaining in session
nearly fortnight. The opinion of a
majority Of the delegates, represent
ing most of the countries Of Europe
except Germany, was that the qnes-
ton of the relations of gold and sill
yer as money should be governed by
the conditions of individual States
or groups of States, and that differ
ence Of opinion rendered impracti-
cable the discussion of common
ratio.
The United States joined with
France in calling a second confer
ence in the interest of silver at Paris
in 1881. In this Germany was rep
resented in addition to the othe1
leading countries of the globe. The
conference remained in session many
weeks, but reached no conclusion
and did not even take vote.
i The United States called the thirt
conference in 1892. 1t met at Brus
sells. Every country of importanc,
was represented and silver had Their
its most plausible friends. The ses
: sion began November q and ad
, journed December II to May 30
, 1898. 1t has never reassembled. s.
} convinced, apparently, were its mem
bers Of its futility of the purpos'
, that no explanation has ever bee,
made for its failure to take any not
. of the date at which it was to reas
3 semble
4 The leading countries were eff
: GENTLY represented, nevertheless:
N. Tirard, one of the most consery
5 alive and ablest of the financiers Q
/ the republic, upon whom the lat
President Carnot profoundly relied
t declared that France had no reaso
= to complain of her monetary situs
Q ton. France had ceased to coin 81
yer and saw no reason for returnin
Q to its free coinage whom she was a
t ready so amply provided with i
y Germany had imposed strict reserv
Q on its delegates, because its mont
8 tary situation under the doub
/. standard was perfectly satisfactor,
l. Austria imposed upon its delega
o prohibitory restrictions like tho
It under which the German delegat'
II were. The British delegates d
y clared their faith in the single go
b standard. The delegate from Swift
erland asserted free silver coinal
,, on any basis impossible for b
le country. The Russian delega
20 claimed that facts had demonstrate
re- that it was contrary to the nature
le things to establish a fixed ratio b
Is tween the value of gold and the val
Is of silver. So it went from the b
If ginning to the end of the conferene
Is The question of ratio was n
n reached because it was impossit
l to ascertain that any number of t
ID countries represented would agr
a to international bimetallism at a
l ratio. Senator Jones. of Nevad
it may be said to have covered t
Id whole ground for free silver COMA
v on some ratio in q brief, overhowi
Mt fifty folio pages, the delivery
BY which occupied nearly the emit
~ time of two sessions.
ey What has occurred in the co
ne mercial relations Of nations sir
1892 to warrant hope that furtt
n international conferences would ST
n coed any better than the three viii
to failedf Just as in the United Stat
cd there is q small and energetic gro
Is, in Great Britain, Germany a
q France, but composed entirely
e's theorists and politicians, who fa'
lal . conference, without, however, hi
on ing any new argument to offer q
tY, absolutely without substantial ba
,re ing in their respective countries.
gg But suppose that all leading COZ
tries could be induced-a most I
e's reasonable supposition-to en-
ED into an agreement for common
be- ito and the reconciliation OF sill
ro- with free and unlimited COMA
Fill What power, what machinery,
'ad litical, commercial or physical, co
ian be relied upon to compel these co
tries to abide by the agreem'
ow even for . period Stipulated Wo
ad- . treaty for . ratio be more invi
be bic than any other most solemn G
of pact entered into among matt
his and broken "ere the ink with wi
ard twas writ was dryi"