Middlebury register. (Middlebury, Vt.) 1886-1937, 1897-02-05
FOR A MONEY CONFERENCE.


United States on any international mon
etary conference that may be called oc-
cupied the senate today almost eXclu-
siyely and was finally passed by the
triumphant majority of 4G to 4. II
authorizes the president to appoint five
or more commissioners to any lnterna-
tional conference with view to secur-
ing fixity of relative value between
gold and silver as money by means of
common ratio between the metals, with
free mintage at such ratio, and 1t also
authorizes the president to call, In his
discretion, such conference to assemble
at such point as may be agreed upon.
The debate on the bill was long and
Interesting; but by far the most impor-
tant speech was that made by Mr.. Hoar
(rep., Mass.), who took the ground that
a veiy large majority of the people OF
the civilized world was in favor of the
double standard of gold and silver.
Mr.. Hoar combated the idea
that the possibility of an interna-
tional monetary arrangement was a
chimera or a dream. He thought that
the gentleman who expressed such an
idea failed to take into consideration one
or two facts. There was no doubt what
ever that a very large majority of the
people Of the of the civilized world was
in favor of the double standard of gold
and silver. There were few people in
this country, like the senator from Wis
consin (Mr. Vilas), who were not in IA
vor of ii but the democratic party, the
populist party, and the supporters of
Mr.. Bryan believed in the double stand
ard. And the republican party, so far
as it could be Judged, had declared its
belief in that doctrine and had pledged
itself to promote it. Another exception
to the doctrine of international bimetal-
ism was his honorable friend from Ne
vada (Mr. Stewart, who did not want
foreign nations to enjoy Dimetalllsm.
That senator wanted to have money in
this country so poor and cheap and mis-
cradle that even Jap or Chinaman
would not touch 1t.
II do not want it so dear" Mr.. Stew
art interposed, THAT an American can
not get it,
Mr.. Hoar-The Americans have been
getting on pretty we'll. The wage earn
ers of this country have laid up fifteen or
sixteen hundred million dollars in the
savings banks. As to foreign countries,
| had some exceptional and unusual
means of learning something about that
matter last summer while | was abroad.
| had the pleasure of long converse
ton with one of the foremost bimetal-
lists in France, NJ. Fougerol-if | do
not pronounce the name correctly, my
friend. the chairman of the committee
on foreign relations, will correct me.
Laughter at this alusiOn to one of Mr..
Sherman's noted idiOsyncrasies. This
gentleman introduced last spring into
the French assembly a resolution declar-
ing that the present depressed condition
in agriculture, manufactures and COM
merce in France is owing to the demone-
tization of silver and pledging France to
cooperate with other nations in its resto-
ration. In the French assembly an i'm
portant measure is not introduced by
one person alone, but he gets the sigma
lures of men who agree with him before
it is presented. And that resolution
bore the signatures of, | think, 3G1 out
of $50 delegates; at any rate, between
three. fifths and four-tifths of their num-
Der. NJ. Meline, then and now the pre-
mier of France, made Il speech on the
question in the French assembly, in
which he declared that when other cOun-
tries would reestablish silver they would
not have to wait for France. Now
that is pretty respectable capital
to start with in getting this union among
nations-the pledge of the republican
party, the pledge of the democratic and
| populist parties, aud 4l5 members of the
| French assembly. The gray-headed and
hoary hermit from Nevada (Mr. Stew
art stands alone in this matter.
| Laughter. They have bimrtalic
| league In France, of which NJ. Mcline is
the president and of which his p edeces-
sor in the premiership is an honorary
president. That bimetallic league rep
resents, among others. the delegations
from every agricultural society in every
province in France; and these agriculture
al societies are not merely societies of
gentlemen devoted to fancy farming
and stock raising. They WELD political
power and represent the political pur-
poses of the farmers of France. With
one accord, without an exception, these
representatives of these great French
interests agree in saying that France is
eager TO unite with other countries.
Now come to London. | know very
well the power of that "square mile" In
| London, where the accounts of the
world are summed up and where London
sits taking her toll on the exchanges and
industries of mankind. After the great
fire of London the great British
poet pictured the restoration of the city
of London, and that picture is as true
today as it was when ii was written:
''More great than ever now, and more an
gust,
Now gorifed, she from her fires doth rise,
Her widening streets on new foundation:
rest,
And, opening into larger parts she hies.
Now like a maiden queen she doth behold,
To her high turrets hourly suitOrs come,
The East with incense ana the West with gold
SHAH stand, like suppliants, to receive hei
doom"
THAT is So" Mr.. Stewart exclaimed
as the last sentence was uttered.
GLOW is it," Mr. Hoar continued, "or
this question of bimetallism in England
| had the opportunity of a full conversa
ton with Mr.. Balfour, the present leader
of the house of commons. This gentle
man has made known, in every way in
which they could be made known, his
opinions in favor of the establishment OF
international bimetallism by concur
renee of the civilized and commercial
nations. He defended that opinion
81 4, t,1 - e.. - Id