The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-09-14

OMAHA. Sept. 13.--One OF tho most dts
tingulshed gatherings OF financial students
and authorities that ever assembled, open
eI ;hree-dass' session at the Nebraska
building at the exposition grounds this
morning. There IS scarcely weil-known
name on either side Of the great currency
problem which has been 80 long before the
American people bat what is represented
on the programme Tor a set paper or TO
take part in she running debate.
Hon. j. Sterling Morton is presiding to-
day. Horace White, of New York. Ed
ward Atkinson. Congressman Fowler. of
New Jersey. Edilor T. Robinson. of the
Railway Age. Louis X. Ehrich. Of Colo
RADIO Springs; former Senator Carey. %
Wyoming. and Gov. Shaw. OF Iowa. are to
take part in the programme. Edward AT.
kinsou is not here. owing to Illness hls
paper being read by Mr. Morton. Messrs.
Warner. Towne. Rartine Weaver. Rey-
nolds and other leaders of the silver and
joint aclate today.
Shortly after 10 o'clock MIR. Morton called
the convention 20 order. After few re-
marks explanatory OF his opinion ON fhe
currency problem. Mr.. Morton read Aikin-
sons paper. Then Editor Horace White.
OF New York. opened the conference proper
with paper on THE History OF tho Cold
Standard
Mr.. White said tia, he had treated the
his ,0Fy OF the gold standard at the Worlds
congress Of bankers and financiess al Chi
cago. IN 1856. bringing II down to that date
lie should not repeat what he said thcn.
The world had advanced III knowledge
since that time. and the subject vas not SO
interesting now a. II WAC then. The his-
tory OF ,tae gold standard was narrative
Of attempts on he part of governments
and peoples 70 make two metals variable
In their nature. stable In references 10 each
other. These attempts were honest but fu-
tile. The pursuit OF o!-metallru vas like
the pursuit Of an ignis fattuS rhr ma
tions. one after another. had abandoned II.
So that IN 1886 al countries ~ any COM
rnercial importance except four had adopt
ed the single gold standard. TIE four
were india, Chile. Japan and Russda All
four were then silver standard countries.
y Il.
or have taken steps 10 that end The only
nation that has gone back from gold to esl-
Yer IS Spain. and this has hsen ia consa-
quence o; her recent nlsfortunss. Mexico
and China are THE only countries Of any
ns4aniiiae that voluntarily preserve the
silver standard. There were no bl-metaiiic
countries now. As to international hi-
n7etaliism. Mr.. White thought that Senator
Wolcotf had preached It's funeral sermon
Re L sf-
sion some six months nGo
Plenty of Gold in the World.
MIR White next considered the common
saying that there Is not gold enough In the
world - DO the business OF the world He
could prove tina, there was enough gold 10
do our business At the present time tae
banks of Ncw York and Boston had three
dollars OF gold 10 dollar os paper in
their vaults. The reason for this vas that
the West and South had drawn nearly all
their paper currency away from them. Gold
had flowed in from abroad 80 take ifs
place II the West and South thought there
~ax no; gold enough te 10 their business
i: them aend this paper back IN New
Yo}k and ask for gold In exchange. The
eounfenances ot the New York bankers
would be wreafhcd IN smiles while handing
Il over TO thesn. The reason of this ple-
thora % gold easy g. understand. Tho
large crops of the last two years. co!ncid-
ing with partial failure abroad had turned
,he balance II trade IN ctr favor. Accord
ingly we had imported ore hundred ard
eleven millions 81 gold during the fiscal
year ending June -. isss. We had pro-
dJced nfiy-esgEt millions 10 our ovn couu-
Try which We had retained. and we had
received somewhere from 1--we 20 ten rnii~
Hons froFa the Klonalke. CiuT STOCK os geie.
has Increased abou; one handref ard eighty
millions III little uoTe tq2u ene year. Olr
holdings OF gold were now fully ss5a.ga~
1a belug larger tban those II any
other country in the VOID. zu-i e vas
perfectly absurd - say thss t8ere not
enough gold ~ d or business wfsn. rnf
the evidence @as over Nne I'm. .eg nAt sNere
was ea0ugt f8r Other aas}ous Ae7 The
amount added 10 the world s. stock during
the last eight years was one fnuusartf
three hundred and ssvfo-Y-%s-Ven miN.pn
dollars. and u was Increasing by leaps and
bounds.
Ersenbneks Bank Mites.
Mr white thought THAT . nare interest
Ing sIb3erF for aiseHssieH q tal3 oa fund
fn re present paaae q +ae ,r4~reney quez-
sion That Guasslon wae gree ubaaks vs.
hank roles .Fnat waA a tre~nfsa~k7 Is
sayE "the United states w.u pay M bear-
er one dollar" The supreme c8urt has
decided that dollar is q piece of metal
81 Is certain weSnt and Igenezs. Accord
!ngly fbe value of ths EreenhaeG rests
upon fne f4alFnent u ne governments
EsyotEsiss a. fav tals taine On demand II
the government lAeks either th@ Yneagpx ar
the lneiraiion Is fui1n ,hss promise ts
crst3t IA impaired nj huzlness which ae-
rea.s g1va sla ~ s,..k l. Qls,uSoss ana ina