Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-10-21
WHAT NExTs

About month ago, when 1T was an
nounced that the Bank of England had
agreed to do something for silver" by
keeping one-ffth OF its reserve In that
metal. the Dispatch suggested that II
was probable this something had at
tached TO 1t a string. such as was at
tached to the offer made by the bank to
the monetary conference that assembled
In Paris In 1881. This offer was mere
brutum fulmen. Mr.. Freemantle, repre-
sorting Great Britain in the Paris con-
ference, laid before the body a commu-
| nication from the Bank OF England. en-
bracing an agreement on its part to
receive silver bullion and issue its notes
| therefor to the extent OF one-fourth or
the gold held In its issue department. so
that the total metallic reserve should
be four-fifths gold and one-fifth silver.
provided the minis OF other countries
would return to such rules as would in
sure the certainty Of the conversion OF
gold into silver and of silver into gold"
That our suggestion was not out OF the |
way--indeed, that the banks last offer |
was even less entitled to be regarded I
as serious concession to bimetallism
than its offer of 1SSi-was clearly proved
by the interview the London agent OF
the Associated Press had the other day
with Mr.. Hugh c. Smith, governor OF
tho Bank OF England. Among other
things, Mr.. Smith said that the press
had been filled with misstatements as
tO tho hankfc nOcftion no
he explained, asked the bank IL it was
willing to renew it's offer made to the
conference Of 1881, regarding the banks
'eserve, and the reply was in the same
tenor as the memorandum which the
'ank sent to that conference, though
more guarded" That was all that hap
ened. The statement, added Mr. Smith,
hat the bank has been coquetting with
he American Commissioners was pure
ubbish.
But this is not all that initiates
gainst the idea that there has ever
cen any reason TO believe that Great
ritain entertained seriously the idea OF
ping something for silver On the heel
Mr.. Smiths declaration comes the
as might have been
,pected, of the failure of the Wolcott
ission.
And now the matter Of an interna-
NAL agreement being, so to speak, a
ing decided in the negative, the next /
estion is. What is the Republican
rty "going to do about tor, rather 5
lat is going to be that party's next
in the currency reform deception
zee 1t has been playing ever since the
Louis platform was adopted? Now
It the Wolcott commission has ac- {
nplished all that it could accomplish \
a time-gainer. and an evidence OF b
bod faith"-save the marki-on the
t Of Mckinley and his party in re- F
ct of keeping their promises "to pro- ,
te the free coinage of silver by inter-
ional agreement with the leading =,
lmercial nations OF the world" what s,
be the next move of the administra-
and it's advisers to avoid meeting 81
arely the currency reform issue? on II
face it would look as If the admins
ion had reached the length of its q,
er, and must stand up to the rack, (nig
so resourceful is the Republican bS
y in subterfuges, and such an adept
in lodging, that we fear present APP NJ
ances are deceptive. In short, we do vi
believe that anything will be done $500
the currency until the Democrats III
n come into power.