The times. [volume] (Richmond, Va.) 1890-1903, 1898-09-14
The Monetary Conference in Session
at the Omaha Exposition.
LEADERS ON BOTH SIDES DEBATE
Mr. Edward AtkinsOD's Speech OH
Force Bills or Legal Tender Was
Read a. lie Was Unable to At
tend-Mr. Morton Presided.

opened three udlS 7N0lyi "a s4'~ No.
etary conference az the Nebraska build
INK. Exposition Grounds. to-day. Hon.
J. Sterling Morton presided.
N5essrs Warner. Towue. Bartine,
Weaver. Reynolds. and other leaders OF
the silver and paper money sues looA
part in the joint debate to-day.
shortly after 10 clock Mr.. Morton
called the convention % order, ana win
out any unusual Formally beyond d rev
words OF explanation ana "elcoHs, s"iu'
Three questions demanding your soiu-
nc "One. Is It the nxed legal ratio en-
aotcd between the coins which governs
me relative value OF the metals On pul-
Two. Is it the relative value OF the
metals ia bullion which governs the reia-
tive value OF the coins! 49,
Three. II no single and separate state
can maintain fixed legd. rauc between
line metals when coined I'm unlimited
ouantities. can an international asree-
ment among the principal mercantile
countries of the world 40 so.
Mr. Edward Atkinson the distinguish
ed economist and puDhcist of Boston,
was prevented from attending because OF
IN health. Therefore. he sent for pre-
eeutaflOn his paper, entitled, f0Ioe
Bills or Legal Tender. and without Iut-
Their prelude. 1 proceed 10 read IT:
Mr. AtkinsOns paper dealt with me
question OF legal tender saving so9l
money needs no act of legal tender only
had money calls Tor an act of force or
legal tender 20 make people take IL
whether they want % or not
Money Us necessary % the cOnducl OK
rOmmerca Commerce U.s. the exchange
OF products or services for mutual oene-
Who invented money? 40 one knows.
All exchanges must first have been I'D
the nature of barter. When men met eacn
of whom had something Co spare Which
the other did not want at tnat time'
money came into use 10 ls one or we
great inventions OF the world. CORRESPOND
Ing 90 the wheel. the making OK nie' lhe
spinning Of cord.
Money was invented to meet the me-
ccssifies or trade before there was any
law or legislation in the sense ln "nlcl
these words are used. II came INTO use
bv custom. and out OF customs ofl6l-
mated DEGREES, ordinances and laws. hy
and by laws were perverted under acts
OF legal tender % cheat the masses on
the people. Coinage was invented lou5
after money had done its WOrk-nueeels
OF gold and silver passing 0y weight.
The names OF aN the early coins are
names of weights. Every contract I'D
sell or deliver goods was "a barter "I
coin passing hv weight Every contract
for the nurchaso of goods was "a barter
OF coin passing by weight Tor n meas
uroI quantity Of goods. We shall never
solve tho difficulties and CONFUSION OF OUT
coinage and our currency unul we tuilc
barter for one thing Tor anoin ef-5p'u
for coin coin for gOOds-crodlt money
convertible into coin boy weight serving
Mr.. Atkinson then dealt with the his
tory Of coinage. he pointed ON ln4l lie
great bimcfaIlist President Francis a.
Walker. defined money MS THAT Whlch
passes freely from hand 90 hand Ihefe-
fore. his theory Of bmetailsm was Wn2l-
U.s. opposed Goo lbs own piuclplt .tr 1l,,3
Kln1 Of money mat passes irtnF iHlou.il-
out the world being money made or gold.
There was uo debate nn Mf. AihiA9"ii
speech and Editor Horace Nhite OF tue
New York Evening Post opened int con-
ference urou0ra Hirl H uIner 600 b ne
History ~ Inc Cold standard.
Mr.. Horace White said that be had
treated the history or ine goa s,ti.' Xxx.
or the Worlds Congress of BANKER anh
Einancicrs at Chicago, ln lh'a, bringing
DO down tD That date. Tie should NOT re-
peat what Doe said then. The world had
advanced boo know.edse since thAl .. 1iIl',
and the subject was NOT so lultfcslls
now as DC was then. THE history of tne
gold standard was q narrative oi al-
tempts ON the pare OF golcthme hi- ana
peoples tO make TWO metals, NdiItDle iii
their nature. stable iu reference To- cdcu
other These attempts were honest uuL
futile The pursuit. OF nimetaIIl@m was
like the pursuit OF an lAnui iOtle- u I'D.
nations. one after announcer. Nao stDAH I"iit1
H. so that iu lnH H. countries OF eHg
commercial importance except -FOUR nad
adopted the single GOLD standard Ihe7e
four were India Chill Japan and tu--
STA. All four were then silver andaIu
countries An have since adopted me
cold standard or have taken steps Co
that end The only nation That has gone
back 90 silver from gold D. spain, ana
this has been lu consequence or hef roe
cent misfOruncs. Mexico and China are
the only countries of amy magnitude tn1t
voluntarily preserve the silver standard.
There were n0 ulmcta.ic countries now.
AS to international b.mctalIism Mf. W hile
thought that Senator Wolcoli nag pit"-n-
cd us funeral sermon after Dee cam
back from bis frultiess mission some SIX
months ago.
AIR. BARTINE DIsAGREEs.
Congressman Rarlur. of washington
replied to Mr.. White. lie denied indt
eIiher Nj Atkinson or Mr White nhl
made ans affirmative showing DO u.u.lt.
OF the gold stand rd' iu ifrI' nr eeliien
that any affirmative showing clui" nf
gJs grains of gold ID dollar c1uId nave
made dollar of half thdt amount "u'
under thc law making This ID STANDARD
dollar Dr. therc were only one ounce gl
gold in the world 10 would not ue Won ~
more than S2061. Tho gold standard
,-nerever Do existed was ID creature OF law
and nothing else. Gold had poo particular
Intrinsic value. Nle difference between
he supporters of Bryan aud those or
AfrKfufer iu f4e last campaign was only
u difference OF method. He made the
sf4femcnt that in the last election prac-
tlraUy 100000 voters had gone on ree-
ord Tor the Tree coinage of silver at some
time nearly l3fOo0 voting unequivocaily
for The perpcuati0n 0i the gold standard.
Speaking for an hour he went into aIl inf
arguments in support Of silver as money
metal c0-ordina'ely with gold at lD to 4.
MOUTH TO MOUTH.
The afternoon session of the convention
developed into an almost mouth to NOUN
contest between the gold and SILVER sides.
with the NUddie-0f-the-R0a1 editors or
The Reform Press Association strongly ln
evidence for their favOrtte theory az "a
p9uer currency Fiat advocates are ln -
raficn, fo ho heard and can hardly wait
untH Thursday. which is their day 10 be
heard. ~ NJ
The speakers this afternoon were u. II.
Robinson CHICAGO. editor VI the Railway
Age. Louis r. Enrich. Colorado Springs.
col. Governor shaw OF Iowa, VINO pe-
clared he was gold m0uomefaust, ana
General A. J Warner, OF OHIO.
Captain willard i'm Town.
Captqin Joseph r. Willard Of The Third
virginia Regiment. was in me CITY last
nfrht and called on Governor ny er,
The Governor expects % leave for Rad