The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-12
INTERNATIoNA MONETARY CON
FERENCE.


In accordance with the instructions
of Republican caucus, Senator Sher-
man has named special committee
of five to devise legislation for action
looking to an international monetary
conference. The committee. which is
considered a conservative one. is com
posed Of Senator Wolcott of Colorado
(chairnan), Homer. Massachusetts;
Chandler, New Hampshire; Carter,
Montana. and Gear, Iowa
No one Will believe for a moment
that this is anything more than a
makeshift, a thing of appearance and
not of substance. 1t may be said to be
the introduction to formal fulfllinent
of the promise of the St. Louis plat
form on this question. The very fact
that Senator Sherman is at the head
of the movement shows how little it
is intended to amount to. The ap-
pointment OF this committee at the
present time is merely to forestall any
criticism of the party for its hostile
attitude towards silver; and that at
titude viii be maintained in reality, if
not in appearance.
What is the good of an international
monetary conference anyway? Is it
again necessary to approach the va
rious gold standard countries with
propositions for a restoration of silver
10 its former place as a money metal
to find out anew that they viii do
nothing? Were it not for the rude
ness of the thing. the nations to be
sounded. if anything comes of the plan
this caucus will formulate, would prob
ably say, How many times do you
wish US to say no. before the fact
that we mean no dawns upon your"
What good has ever resulted from a
monetary conference? The first in
ternational monetary conference was
that of 1867. 1t was called at the in
stance Of the French government and
met in Paris June II. Eighteen of the
principal countries of Europe, and the
United States, We're represented at it.
Every country represented, with the
exception of the Netherlands. voted in
favor Of the gold standard. 1t ad-
journed July 6. and was never reas-
sembled.
The second international monetary
conference was that of 1878 1t was
called at the instance of the United
States, and met at Paris, August IS.
Twelve countries were represented.
Two propositions. on behalf of the
United States, were laid before it. They
were: l. That it was not to be de-
sired that silver be excluded from free
90 in,
States. 2. That the use of both gold
and silver as unlimited legal tender
may be safely adopted by equalizing
them at a ratio fixed by international
agreement.
The answers to these propositions of
all the European delegates, save those
of Italy, were presented by the presi-
dent of the conference, Mr.. Leon Say,
and were:
1. That it was necessary to preserve
in the world the monetary function of
silver as well as of gold, but that the
choice Of one or the other or of both
simultaneously. should be governed
by the special situation of each state
or group of states. >. That the ques-
ton of the restriction of the coinage of
silver also should be left to the dis
erection of each state or group of states
3. That the differences of opinion that
had appeared excluded the adoption of
a common ratio between the two
metals. The conference adjourned
August %.
The third monetary conference was
called at the instance of this govern
ment and France in 1881 There were
thirteen sessions, but nothing was ac-
complished. The declarations presented
in the name of the governments of the
United States and France were not
adopted. It adjourned, April u, 1882.
and was never reconvened.
Then followed the Brussels confer
ence. 1t met November %, 1892, its
last meeting being held December Il,
1892. It has never been reconvened. /
1t accomplished nothing.
If all these conferences teach any
thing, it is that nothing can be accom-
plished for silver by means of them.
As well enact legislation looking to the
utilization Of the canals on Mars for
the purpose of inland navigation as
TO enact legislation looking to the
converting of another international
monetary conference, so far as fur
thering the interest of silver is con-
cerned. The whole scheme is so trans
parent that even the dullest eye can
cap fbrpftwn II