The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-25
An Important Mission.

The departure last week from New York
Of the American monetary commission,
appointed by President Roosevelt to de-
wise an international gold standard Of ex-
change in connection with other coun-
tries which either use silver exclusively
or have important trade relations with the
silver using countries, is an event Of i'm
portance, for, if the series OF conferences
proposed are successful, there will be
adopted a fixed par Of exchange between
the gold and silver countries. preventing
! the heavy fluctuations Of silver, so in
furious to trade, as has been seen in Mex
leo and in the Philippines and elsewhere
during the tremendous slump In the mar
ket value Of silver in the past few years.
The gentlemen of the commission are all
well-known students and experts In
fnance-Professor jerks Of Cornell, G. A.
Conant Of the Morton Trust company, H.
Fl. Hanna Of indianapolis, chairman Of
the monetary convention which has been
strenuous champion of sound money for
some years past. Mexico is sending En-
rique Creel and Eduardo Meade, we'll
known bankers Of the City OF Mexico.
These two commissions will confer with
the British colonial secretary. who will
soon confer with a board Of British Off
Gals Of the colonies on monetary needs
OF the British colonial possessions, after
which the two commissions will go to
Paris and attend conference Of the
French colonial officials.
The movement has nothing in 1t Of the
decisions of the advocates Of interna-
tional bimetallism. The theory that the
equal treatment OF the bullion Of either
metal thru coinage Of either, at a ratio
fixed by law at the option Of the holder OF
the bullion. 50 opening an unlimited mar
ket for either metal. would keep them
equal to each other at an arbitrary parity,
has been fatally punctured by actual test
It is not in the power Of law, national or
international to establish rigid relations
Of value between two different things. This
fact has been admitted and conceded by
many Of the most intense bimetallists who
have figured during the past decade Of the
battle of the standards In this country
and in Europe. The latest bimetallist
who has been won over by conviction tc
the gold standard is the well -known chan.
cellor Of the University Of Nebraska, DR.
3. B. Andrews.
The aim OF the present movement will
be to remedy the evil felt by the silver ma,
tions and those who deal with them, NOR.
or less. by introducing sound economical
principles which will give government con
troll Of the quantity of currency, so sepa
rating silver from the fluctuations OF thu
bullion market and giving it a definit,
value in gold. BY limiting the supply o
silver coins it will always equal the deman,
at q fixed price, but, II the supply exceed
the demand, no legislation can possibl,
bolster up the price. Mr.. Conant, one o
our commissioners appointed to secure co
operation in Europe in this movement
first suggested concert of action betwee
Mexico and the countries having Deepen
denotes in the orient. such concert of &C
ton to recognize the great fall in tn
value Of silver by the adoption OF q, ne,
ration Of about 80 Of silver to OF gol6
Our government has taken the tnitiativ
Ia this matter and there Ii reason to be