Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-03-18
NOT BIMETALLISM.
slI,,, and Gold Discussed 10 tho Eng
lish House Of Commons.
uurrELY,s RESOLUTION ADOPTED,
,o,r An Explanation That II Did Not
roree the Government TO Change
lis Views.

tospos, March 1.-THE resolution
=, NJ. Whitley, which, 1t is stated,
the government will support, reoiles
,,s,itis the opinion OF the HOUSE that
me instability In the relative value Of
-, and silver since the action Of the
80 union 10 1878 had proved inluri.
',o INC beat Interests OF the country,
~ n ufgss upon the government the
p,..hility Of doing her utmost u
...n,s an international agreement.
Tho chancellor Of the oxchequer, Sir
,ti.hasl Hioks. Beach, said that al
,s"r,h blmetallism was Involved In
~ motion, its adoption by the house
St not necessarily Involve tue adop-
,,o, nj the bimethlllo sysiem by the
Tfnited Kingdom. He then proceeded
',dWsil upon the diversity OF opinion
,.s,,ding blmetallism, and he thought
~ o.. imposalblo 10 NIX n ratio abso.
ntsly iudependent Of the market
eactnatlon Of such articles. Ga the
a,b,r hand, he continued, u was not
denial thatIf an International agree.
ment was entered into by n sufficient
number OF nations, It would Influence
,bo fluctuations. Besides, Bir Michael
,5isd, tho adoption NJ an international
ssf,sment by n tufliiient number Of
nations, might possibly bring the value
Of the metals closer than al present.
In regard TO the ratio, Sit Michael
sald he had been TOLD the United States
would probably desire lb3 ORIG TO !,
hut 10 view Of the presenG price OF sill
vtf Il seemed 10 him that Auch ratio
vas absolutely dishonest 10 creditors,
and would simply mean financial
pauic with possible disagtroug elects
70 the credit OF the country. III the
f,lio was bnsoI on the market values
n the metals, no could not sec how
that would warrant tho extravagant
bo.es Of the bimetAllists, for the agree
msnl would DO liable TO be broken In
tue event Of political convulsion OF
war, and tho effect Of such doubt In It,
psfmanvnco might initiate agains,
success. Nothing more important TO
Great Britain could DO conceived than
he extreme danger OF altering the cuff
'ency. for Great Britain under the
golI standar1, instead Of being ruined,
vas singulafly prosperous. Wealth
was more generally diiiusod among
tho wofGing Glasses, and higher wages
were being paid ihsn ever before. No
country In the history OF the world,
the speaker asserted, was ever In n
better position 20 bear the enormous
lead Of tnIation with Ices discomfort.
Therefore, he saw nothing TO Justify
altering Great Bfitain's currency sya-
ten.
The chancellor OF the sxchSquer adj
mitied, however, that there was de-
preston In busbsDdry and the cotton
industry. But, he claimed, the cause
vas TO be- found In low prices, which
utfe tue at onu time 10 the appfecia.
ilos OF geld. but the production OF
gold had largely Increased, anu now
higher than ever stood the remarkable
iaol that the same year which hal
shown an enOrmU us aud unoxamplcd
stock Of gold In the bank had showed
tic lowest prices on record. Might
there not DO n reason for the fall ~
prices without anything 10 o. with the
appreciation OF golaG Tue 'act was
tnat tho fall In tho price OF nearly
every article was due 10 foreign com.
petition, which was due 10 an increase
10 production ana u more effective use
of capital, owing TO n wider system Of
credit, anu the use Of the telegraph,
and, lastly, TO tho vast extension OF tue
railways OF the world and the i'm.
provtmenis In the mercantile marine.
hir Michael Hiekt- Beach also tald
while admitting the evils TO India
consequent upon the fall Ia the price
Of ths rupee, he felt that the other
gold.using parIS Of the empire must be
considered.
The government was willing and
Abxious TO enter into an international
conference or upon negotiations, but II
was not prepared 10 sbaudon the gold
standard for the United Kingdom.
home Of his colleagues, like Mr. Bal
tour, the first lord Of the treasury,
did not agree with these views; hui
they were all agreed that they were
not Justified In proposing or accepting
\ cnauge In the gold standard Of the
United Kingdom,
HARcoURr's VIEWS
Sir William Vernon HarcouTl, who