The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1897-04-03

|
the recommendation Of a new ratio or
151a to for silver. Nor did any Of the
recommendations Of the commission ind
favor in the sight Of the National Legis-
lature. But the report undoubtedly led TO
further inquiry in connection with other
nations, which has come to be known in
American history as the international
Monetary Conference of 1878.
For international BimetaIlism.
By the act of Feb. %, 1878, President
Hayes extended an invitation to the ma
tions Of the world to meet and discuss the
establishment of relations looking toward
international bimetallism, and in August
of that year representatives from the
leading nations of Europe met the distin-
guished delegates of the United States
in Paris under the auspices of the French
Minister of Finance. Ex-Gov. Reuben
E. Fenton, of New York, was the chair
man, Gen. Francis A. Walker and w. ).
Groesbeck his associates, and s. Dana
Horton, well known authority on BIZ
metalism, the secretary of the delega-
ton; all except Mr.. Groesbeck were Re-
| publicans. AS Mr.. Horton was courte-
ously given the same rights on the floor
| of the conference as the others the Re-
| publicans preponderated. This is the
more significant when taken in connec-
ton with the reply of the Americans TO
a majority of the European delegates.
| This reads:
THE representatives of the United
States fully concur that it is necessary to
maintain in the world the monetary func-
| tons of silver as well as those of gold.
and they desire that ere long there shall
be adequate cooperation to produce the
result.
"In regard to the third and last propo-
sition they admit that some of the States
which have the double standard or. as
they prefer to say, use both metals, find
1t impossible to enter into mutual en-
gagement for the free coinage Of silver
They. as representatives of the United
States have come here expressly to enter
into such an agreement. The difficulty
is not with them, and whatever il may be.
they trust that ii may soon be removed"
This final statement signed by all the
Americans, taken by itself shows more
clearly than columns of explanation what
the Republican party meant at St. Louis
by declaring in It's platform for the free
coinage of silver 'by international agree
ment with the leading commercial nations
of the world. which we pledge ourselves
to promote"
AT the meeting in Paris in 1878, Ger
many alone of the great commercial ma
tons of Europe was absent To the as
sembled nations the Republican party of
the United States, through three of its
distinguished members, proclaimed its
anxiety then and there to enter into re-
ciprocal relations for the free coinage of
silver. What was done then will be done
again during the Mckinley administra-
ton, and, as will be explained shortly,
with every hope of success.
The Conference of 1881.
Specie payments were resumed Jan. I,
1879, and President Hayes was again au-
thorized to send delegates to an interna-
tional monetary conference, held, like the
one preceding, in Paris. The United States
was there represented by William NJ. Ev-
arts, lately Secretary Of State; Allen G.
Thurman, late United States Senator
from Ohio; L. o. Howe, late United
States Senator from Wisconsin, and S.
Dana Horton, whose services at the for
mer conference and whose authoritative
writings on bimetallism entitled him to
the distinction. All the delegates except
one, Mr.. Thurman, were again Republic
cans, though the Congress which passed
the resolution was Democratic in both
branches. The sessions began on April
10. 1881, James A. Garfield being Presi-
dent of the United States
The report of this Paris conference Of
1881 is filled with statements which at
test the ardent support of the doctrines Of
bimetallism. What the lamented Garfield
had said in his inaugural regarding the
precious metals was the basis upon which
all the delegates of the United States
stood throughout the protracted argu-
mcnts. President Garfield expressed
himself as follows:
by the experience of commercial ma
tons, in all ages, ii has been found that
gold and silver afford the only safe foun-
dalton for a monetary system. Confu-
sion has recently been created by n varia-
ton in the relative value of the two met
ais: but / confidently believe that ar
rangements can be made between the
leading commercial nations which will Sc
cure the general use of both metals.
If possible, such an adjustment
to be made that the purchasing power Of
every coined dollar will be exactly equal
to its debt paying power in all the mar
kets of the world"
To the same effect read this extract
from Mr. Horizons note presented to the
conference, in relation to the Allison
Bland bill: by the law of Feb %, 1878,
the United States became n tea cher of re-
form monetary doctrine. The United
States proposed to Europe concurrent
coinage Of silver and gold at one ratio,
with view to their convenient use in the
countries of the proposed union and the
comparative steadiness Of their relation
to each other everywhere"
The Brussels Conference.
The last international monetary confer
ence was held at Brussels Nov. %, 1892,
Benjamin Harrison being President of
the United States. AS at all former as
semblages of the kind the American rep
resentation was largely Republican, it's
members being Senators William b. ALI
son, John +. Jones, James Il. McCreary,
Henry w. Cannon. L. Benjamin An
drews of Browns University, and Edwin
III. Terrill, Minister of the United States
to Belgium. The object they had in view
ia Indicated in the letter of instructions