The New York Herald Newspaper, September 21, 1878, Page 4

4 THE MONETARY CONFERENCE Tnside View of the Recent Interna- tional Congress in Paris. AN EFFORT TO RESTORE SILVER, How France Was Controlled by the Latin Union. GERMANY MAKES ALL THE MISCHIBY. England Wants Gold for Herself and Silver for India. Position of the United States—What the Conference Achieved. Se Panis, Sept. 5, 1878, ‘be telegraph bas given you an idea trom day te day of the work of the International Monetary Con- ference, whose sessions have just closed. It seems to me that u general summary of the questions before the Congress, the debates arising out of these ques- tions, the astitude of the various countries, and the results may not beuninteresting. Inall these interua- tional congresses there ure wheels withia wheels, influ- ences never expressed, never appearing on the suriaee, Dut of a potent character. This Was true of the Congress. If the question could have been taken ag ene of political economy the deliberations would have becn of more value and the conclusions more useful. It wasaconference of abic men, The nations which accepted the Americans’ invitation did us the honor to send their strongest delegates, men who were expert on questions of finance, and who, whatever their views on the immediate question before the Congress, the creation of a double standard, wero competent to discuss all finan- cial questiong, Awerica was represented with especial ability, Governor Fenton, the head of the Commission and Vice President of the Congress, showed his usual tact and courage in handitag bis case, and bas worked very hard, Mr. Groesbeck you knew as one of the oldest of the Western statesmen— a man skilled in finance. ProfessorWalker, of Yale, bas now & national position as a writer on finance, 10 which his labors here have given a European fam Mr. Horton's knowledge of finance and of the langua, was so useful that, although he came as the Secretary ef the Commission, ho was admitted asa delegate to the Congress. THE LATIN MONBSTARY UNION. The diffculty about coming to any tangible result fm this question of money must be found tn the politt- cal complications of Europe. In the first place ece- Bomical considerations in Europe are affected by the Latin Untop, ‘This union is composed of France, Htaly, Switzerland, Belgium and Greece. Of this union France is the head. Her wealth, her solvency, ber commercial enterprise all place her there, and the statesmen of France since the close of the wars of the curly and later part of tne century and the fall of mavy-ambitions, bave cherished this union asa remnant of thetr overshadowing days, By the terms of this unton the gold and silver coin 1 the countries embraced are ot the same value and circulate freely. Tnus, it you go to your banker and receive @ hundred Napoleons, you will be sare to find among your pieces graven images of the Emperor and the Republic, of the Pope and Victor Emanuel, of the Geneva Cross of Helvetia, of Leopold and George. You will occasionally tumble outa bead of an Aus- Srium or a Spanish ruler, but while some por- ions of the currency of Austria and Spain ere the Bame as those of the Latin Union, those countries have never come into the compact. France has always cherished this union as a source of economy now and of prospeetive power under.altered Eu- ropean conditions, Therefore, to understand what was done in the Congress, what influences controlled a4, and upon What the further founcial legrsiation of the European countries will depend, it 1s necessary to bear in mind the existence of this Latia Union ‘and tho relations of its members one tothe ovher, ITALY IN THE CONGRESS. There is Italy, in the first piace, very patriotic, bat very poor. lvaly is ina state of suspension. Spe bas a forced carrency and deals 1m paper. If you travel in Italy you will have remembrances of the early happy sbivplaster days of the Repubdlic, when public virtue was the rule and a free citizen could give bis dollar any value he chose, This was long before the traof public corruption and the greenback ut par. Italy remains 1m the union, bat pays no specie. ‘This ls an advantage to Italy, but mot to the other rouatries, and espectaily France. Ltaly has the benefit of the silver she has cormed. Mostot that silver is in France. I bave heard it said that the etate of suspension in Italy pas thrown a hundred millions of cotm into France. Of course France does not like it If she denounced the treaty ana left the union then she could take up this coin— silver, especially—and usk Italy to redeem it, franc tor franc, io gold. If France did this it would be dia- astrous to Itely—a fearful disaster. To avoid this and at thesame time have the profitof the money circulation in one country and the paper circulation an her own the Iintans will do anything France wishes, France could withdraw from the union and pat the screws on to Italy, bus if she did Italy would be thrown into the arms of other and, perhaps, unfriendly powere, There 18 tho old r, for instance, who bas been smiling and sparring around Italy for several years, and who Would ask notuing better than to see her bundled out pt the union and Franco pursuing her for her ¥ilver, as old Shylock pursued Antonio over we Rialto, Therefore, although France wants ber amoney, would like her money, would prefer to have hor own coin in circulation, she sees in Italy a grow. ing, and in time to come, a great Power, and 60 she contents herself with the loss and keeps herhand on the nip of her neighbor, DRLGICM IN THR CONGRESS. Now, while France holds Italy throagh her misfor- Anne: © bas other relations with Beigiam, Belgium isa solvent country. She preserves the gold stand. ‘ard. She pays specie and 18 not to be dealt with as France ceais with italy. It France were to assert her policy as bi-metatlic, and decree the comage of silver, what would be the resnlt? Belgiam would be throwa prer to [ngiand, with whom she is alreaay im great yy mpathy, or to Germany, who looks at ber much as the wolf looked on the cnild im the nursery tale, To drive Beigium into closer relations with Germany oF an economical dependence upon England would bo a calamtty, It so happens that politroal changes give Betgiam an exceptional position, When thts Vonfer- Bnco wae proposed It was known that Belginm was in Javor of the double standard, and tt was hoped that ber Commitesioners would act in accord with those Jrom the United States, It was them belreved that Belgiam would wheet into line on the donble standard Bide. Bat some months eince a revolutton took piace in Belgiam—a grove and important revolution— throwing ont the clerieal ultramontane party and call- ing in the liberals, It happened that the old Ministry was bi-metailic, while the new one is headed by o man who leads the gold party, He did not como into powor on that wane, It was ro. ligion and liberaliem, not finance, which gave him power; bat the accident of the eituation affeoted the Congress to this extent that the delegates who came 10 the Conference came as champions of gold, while the others would have euggested the double standard, Yherotore the fact that the Belgian Ministry was under the rule of a pronounced and almost fanatical gold metelliet had wwo resuite—it kept Franee ro= ferved and wary and weakened the United Staten France held that it wae a paramount consideration to hoid such relations with Belgium as would make her content with the Latin Union. DIPLOMATIC COMPLICATIONS OF FRANCR. While Frauce was wen holding italy under duress and paying money to keep her trom falling oat of the woron, she wae alto conxing Bolgium not to leave tt ‘Ths made her conservative and negative and subor- NEW" YORK HERALD, “SATURDAY, SEPTEMBER 21, 1878.~TRIPLE SHEET. dinated all of her actions to aiplo: it was not the views of Leon Say which prevailed in the conter- ence, but those of Mr, Wadaington, It was not what her Fmance Minister thou; was best for the interests of commerce and the country, but what her Foreign Midister felt would be ‘the most advantageous in the way of alliances, what would make France strong against the day of reckoning. All governmental action in France runs in the on rection, the dey of reckoning, and onco that chord is touched in French affairs all other con- siderations vanish. If Belgium were driven oat of the union, she would be either more English or more German, and, as all Frenchmen foe) that they have a mortgage on that country, that it belonged to them once and may belong to them again, the influence of Belgium asa Power to be conciliated and a Power Pledgea under her new government to a gold policy and po other was very great. THE POSITION OF HOLLAND, Then came Holland. To this Conference Holland sept two delegates—Mees and Vrolich. Mees is the president of the Bank of the Netherlands; Vrolich was the former Minister of Finance, Here another misfortune befell the United States. If Vrolich had come to the Conference he would have thrown his influence in favor of the double standard. He be- came ill, and telegraphed to the Conference asking an argument he had written in favor of the double theory sheuld be made a part ot the record of the Congress. This was done, but the body felt the ab- sence of Vrolich’s large cxperience and keen mind, This more particularly because Mees was in favor of the single standard, Mecs, however, was not pro- nounced amd his own record was neutral. 1n 1572 he urged upoa Germany tbe impropriety of her course in demonetizing siiver, the mischiel it would create throughout Europe and the world, the peril to ex- change and iree commerce, He was in favor then of Germany adopting the French basis that gold was fifteen times and a half more valuable than silver. He said if this was adopted all Eastern Kurepe would be on an unshakable basis of bi-metallism. Germany would not listen, and Mees, therefore, came into the Con- ference a gold advocate, not pecause he belicved in the absolute gold standard, but because tnere was no help for it, Holiand is a small couvtry. She is ‘wedged between Germany and England, Sheis so dependent upon these two countries that she must assimilate her policy to theirs. Consequently gold ‘was supported because Holland, under the circum. stanceg, believed gold would be better for her indus- try and-commerce. WHY WAS SPAIN NOT INVITED? Neither Spain vor Roumania was invited, although the currency of Spain and Roumania are the same as thatof France. 1 can understand how Roumania was left out, because she is a young nation, hardly weancd, It would have been a graceful act to have recagnized her existence by asking her to tho Conter- enoe,.but I presume our ruling people are too much immersed in civil service reform te really know what bas takea place in the East. But if there ts a reason, and a good one, for the omission to invite Rou- mania, why not have invited Spain? This was ome of the questions most frequenily asked by those who took an interest in the Proceedings of the Conference. “Why does not the American government invite Spain?” Spatn, it is said, was our near neighbor. Her richest colonies were on our coasts, We had commercial relutions with Spain of the most important character, Spain was.a silver country, and tho inflaence of her states- men would have been in sympathy with the United States, Spain is a much greater country Ima com- mercial point of view than many who were present, and to us commercially second to none in impor- tance. Why, then, should America not have asked Spain? She had been dramming up delegates to her Conference from all parts of the world. Even att@ Germany had declined America insisted she shoula not deciine, and almost coaxea her to come, But Spain, whose presence and counsel would have been more valuable to us than Gormany—Spain was not even asked. So when this question was pro- pounded there could be no answer. 1t coulda not have been an.oversight, jor no department could cemmit such an oversight. The State Department must havo -heard of Spain, for there is ao Spanish Min- ister im ocr capital. Thero could have been mo purpose to insult Spain or be rude to ber, a8 a nation not worthy to sit im the council with Greece and Italy. Tnis suggestion was never entertained, for if anything is weil understoed herp itis that we have a benevolont, Christian ad- mindetration, which injares no ene, wounds no one’s Jeolimgs and urns the unslapped cheek to ite assuil- ants. Consequently it was bolieved that there was a purpose in America’s not asking Spain, and as none of the Commissioners seem to know that purpose it can only bo found in the Cabinet at Washington, The absence-of Spain, unexplained, was a source of weak- ness to the American side. SWITZBRLAND ALWAYS FOR GOLD. Switzerland was dead against the United States on every point, Feer Herzog—(Feer being his own name and Herzog the name of his wite blended together in this Ajpine fasbion)—is the leader of the extreme gola school, He was the Swiss delogate, and bis position from the outset was in direct antagonism to every- thing that lookedJike regarding silver in any other light than as an article of commerce, Greece luoked onand said nothing. Sweden and Norway were to sympathy with Switzerland, ‘THE POSITION OF ENGLAND, England was in « peculiar position, and herin- terest in the Conference was second to that of the United States, I observe that the London journals say that the presence of the Hoglish delegates was an act of courtesy to the United States. Bat the de tom was exceptionally strong aad abie, At tho head was Mr. Goschen, formeriy in Gladstone’s Cabinet, a famous banker and writer on finance, There was Mr. Gibbs, formerly governor of the Bank of England, ond now one of th directors ot the bank, The third member was Sir Thomas Secomb, financial secretary of the treasury for inati 4 an expert upon the silver question, now #o troublesome to the English im India, England showed in her attitude at this Conferenee some of tho burdens ot empire, All her home interests are for gold, alt her Indian interests are for sitver, In India silver is the ruling form of value, and the fall of silver in India alono has cost the British government £2,000,000 a y ‘rhis does not include private losses to merchants who deal with India, and which must be enormous, This double attitude was well ex- pressed by Mr. Goschen. Kngtand, he argued, had done more than any other nation to show her good faith in the silver crisi# and had done more than any other nation to kecp up the price. For five years she had borne a heavy burdon—ioss to her revenue, lo to her merehants, joss to her Indian officers. Hecon- tended that, having given this preof, the best she could do was to wait and see if silver would recover its tormer value, He reminded the Conference that it India had followed the example of Germany and demonetized silver it would have fallen fifteen per cent more, Therefore, he claimed for FRogland credit im preventing this fall, At the same time England always saved ber goid positien. It had been taken by Lord Liverpool, in 1816, at the the close of the Napoleonic wars, Whether wise or not, for generations it had beon the standard, and there was no desire fora chengo, no bope that there would bea change. There was no uso in asking her to do so, Sitver sho coined as tokens, not money; and for debts to tho amount of forty shillings it was legal tender, Beyoud this she would not go, could not go At the samo time, while silver was not good enough for England, it was good enough for other people, England was far from wishing all Europe to follow her exampio, In fact, she seemed to think the gold business had gone tar enough, Over ond over ogain the English dologates faid the consequences of the German demonetization haa been disastroas, Jt bad disturbed exchanges and prevented coinage in France, As Mr. Goschen ex- pressed it in one of his specohes, ‘The Aimortcan pro- posal of a double standard involved an impossiblo Utopia, but the theory ofa universal gold standard was equally Utopian—indeed, involved a false Utopia.” ANGLAND AS APPROTED BY INDIA. England, thinking, of course, of India, and the av, noal £2,000,000 tribute pad to siiver, showed the strongest disposition to help tho fatare of siiver, al- Ahough she gave no bope that she would restore it as a standard of value in her own country, 1a 1968, when the reaaits of the lest Conference were discussed fn Parliamens, sr. Lowe, then Chancellor of the Ex- chequer, congratulated his country that ail the nations of Europe were about to follow tho English ex- ampio and adopt tho gold standard. Whut ton years ago was a matter for con. gratulation to one English Minister is now 9% matter lor concern to another. This contrast between the opinions of Lowe and Goschen was keenly noticed by Mr, Horton in one of his discussions and dwelt upon as an evidence of the change of heart that bad come over England. If, in ten years, she had gone So far under pressure irom India why might not that pressure continue and drive England into the silver countries? This change of opinion in England was deemed by our people as one of the important results of the Conference. It showed that time and experience baa given the coup de grice to the last Conference and tne ideas—mainly those of M. Chevalier—which swayed Europe then, Ex- perience shows that universal mevailism is out of the question. Thus nothing benefits England more than the deuble standard prevalent in France. For this reason the whole weight of England was given for the continued use of silver, Indeed it was said that tf other States carried on a propaganda for the universal gold standard and tho demonetization of silver with suceess the Indian government would be obliged to think of her own two millions sterling going every year to the bad and reconsider her position. In shat event, should India demonetize silver, there would be such a scramble to got rid of it that thero would bea crisis of alarming proportions affecting the commerce and industry of the whole world. GERMANY IN 4 CORNER. Another question was the attitude of Germany. These count: which used silver currency were angry with Germany. They argued that the Germans had demonetized sitver in nton spirit, witnout considering, or, at all events, not caring for, the wisnes: of the other countries, To this action of Germany ‘was attributed the fall of silver and many of the worst features of the panic of 1873 and the world-wide depression which has prevailed since, Germany had done this, as her critica said, in the ingolence of military victory. Sho had conquered her onemy, made her empire, exacted a vast indemnity and now would govern the Continent by her ideas. In Germany it was sald that imperialism had become as much of a vice as in France under the Bonapartes, Germany had dia- turbed Europe for her own purposes; yet she herself was the maia sufferer, Her indemnity had vanished. In its stead grew up a speculative, venturesome spirit, which had preyed most disastrous to the business of Germany. Silver had fallen so low that she was compelled to stop demonetization, and as a cousequence she had suffered and was suffer- ing more from her own acts than any other country. Sbehad now on hand $75,000,000 of silver. For thisehe ‘was craving a market. Now, ifthe other countries of Europe—it Belgium, England and Holland more pa ticalarly—were to adopt the double standard, what would be the result? Germany would be the gainer, She would have an immediate market for the silver which she now held unwillingly, and sho could sell it at a profit, The resentment toward Germany prevented any action that would relieve her from an embarrassment caased by her own course. England would not contribute to that result, remembering her own ten millions a year lost in india through the fall of silver. Of course France had no desire to aid Germany. Consequently in considering the inside view of the Monctary Con- ference, the resentment toward Germany fclt by every Power prevented any suggestion that would in the least benefit Germany. Nothing would do her 80 much good now asthe opening of a market for her silver, Such a market would at once flow from the adoption of the double standard. THE GERMAN AVALANCHE. ‘There were also business reasons involved in the attitade of Germany, The most important was the tear of the effect on the market of the German stock of silver. This point was discussea with groat-ability by Mr. Gibb, of the English commissioners. Mr. Gibv attributed an enormous influence to this stock. It was an avalanche hanging over the market. This market was in constant depression arising from a fear of this avalancte. The merchants in any part of the world could noc buy or sel! silver until that stock wus disseminated or eliminated. There would be no coin in France especially until that was done, Gibb and bis colleague agreed upon the im- portance of this German accumulation, Feer- Herzog, the champion of the gold coiaers, did not think so, He thought that tho proportion of stlver in Germuny to the silver in the market was not great enough to produce any of the results apprehenaed by the Enghsh delegates. But while Feer-Herzog spoke asa man of authority he was regarded asa theorist when his views were in opposition to those of men like Mr. Gibb and Mr. Goschen. Althougn Germany was in trouble on account of the fall 1a silver ana her own action in demonetizing she was in no way dis- posed te repent, and consequently declined to attend the Conference, To have taken part in such a cop- ference now would have been saying she was wrong in 1871. A RESUME OF THE EUROPEAN POSITION, Here, then, was the position of the countries of Europe, Germany was absent, but all the nations wereagainst Germany. Spain was absent through some unexplained action of the American govern- ment. 1{ she hed been present she would have sup- ported the American position. Austris, Russia and Tuy re with America. Noither of them were strong enough to have any influonce, as in all of them specie payments were suspended. Switzerland was uncompromising, id always against us, So were Sweden and Norway. Belgium and Holland were opposed to us, but not altogethor to our theories, They saw no reason why other nations should not have silver, but they preferred gold, france was in sympathy with the American view, but there were diplomatic reasons arising out of her posttion tn the Latin Union and her position toward Germany which made it impossible tor her to declare herself, Engiand was in favor of both standarde—gold for herself, silver for other people, Any way and both ways worked her gain, She needed gold for home, silver for India, ‘The practical positton of India, contrasted with her atsitude at the last conforence, was regarded as the evidence of a great change in the minds of her states- men and @ rapid acceptance of American ideas, WHAT AMERICA WANTED, What were the American ideas as expressed to the Conference? So much has been said on the silver question at home that it affects your politics, and it may be interesting to see wnat position the American delegates took when removed from the heated atmo- re of home policy to the cool chambers of national diplomacy. Mees, the Holland dolegate, suggested to the United States that, as they could flad no allies im Europe on the silver question, they might find them in Japan, China, Central and South america, British ana Dutch fadia, I asked ono of our people it this was meant in earnost or as a sar- casm, and the answer led me to suppose that tho Americans could not mako up their minds howto view it. AMBRICA’S GENERAL IDBA, Asa general proposttion the Americans laid down this theory, Five years of practical experienco showed that the demonetization of silver in Germany was a mistake at which the whole world cried out which Germans themselves found to bea loss, It was & measure never recommended by the political economist or statesman, It Initiated an enormous amount of evil, It was based on « sentimental idea formerly prevalent that not only should the standard of value be gold, but that the ovins of all countries should nave a relative value, The Americans, while not despising international coinage, held that the advantages were entirely sentimental and pot worth the torrible sacrifice involved in the aemonetization of silver, AMERICA’S PINST PROPOSITION. From this basis the Americans advanced two other propositions, They arcued in favor of bi-metaltism Decauge the first effect would be the production of wealth, All contracts, prices, wages, debts, fo the United States especially, have been, to the extent of tens of thousands ot millions, based on tho existing volume of money. Now it twenty or thirty or forty per cent of that volume were to be discardod or exiled to China by the demonetizition of stiver in American and Kuropean countries what would be the result? Nat- urally, the Americans reasoued, the first effect would be to increase in a crushing degroe the burdens upon Jabor and commerce, They attributed the prolonged crisis all the world over to this «ction on the part of Germany. Debts cannot be balanced. Ail profits are out off trom bu i, In America the debtor class is the producing class, With our peopio being in debt does pot mean necessarily epending money tnritt- loasly or wasting it, The debtor ia nearly always ono Who has borrowed capital to conduct business, When you pass a measure that Increases that debt and attho same time cuts away the profits of the busivess tho prodacing class will cease to produce. America as tho producing country of the world, the country where ea lee feels more than any otbel the effect ef any monotary action like the aemonetiza: tion of silver, and would be benefited by the creation of the two standards, gold end silver. AMERICA'S SECOND PROPOSITION. ‘The second proposition advanced by the Americans was that demonetizition would destroy ail ex- change between Europe and Asia. Asia was tho de- pository of tho vast silver houses, A merobant could purchase in Loi or New York goods euit- able for India or China to the value of 200 ounces im gold. To make a profit he must receive 4,000 Onces ip silver at « certain value. If silver were at the standard of 153, in India—the standard adopted by France—he could make a profit. This enabled Lim to bave a fixed and definite exchange under the old system, He knew what he was doing, Since 1873, since demonetization became the law of Ger- many, he might do nis best, but he could not depend upon exchange, A iall of two pence im the price of siiver would rain him, His business, conducted on the most conservative business ideas, was only gambling, Business at the best ts difficult, Business between Asia and Europe is impossible whea we weaken the Astatic standard and give it a shifi- ing value, If we reach mono-metallism wo are in the position of a country which is solvent while other countries suspended, From 1803 to il in America the two metals were the same, and there was no trouble, The excnange between Asia and America is not as great as between Asia and some other countries, but tne basiness ts growing. 1 must in time assume vast dimensions, and, for the protec- tion of American merchants and American commerce, silver should have @ value that would protect ex- change between the two continents, CRITICISMS OX AMERICA. It was charged that America was pressing for this action for selfish reasons, because she had large sil- ver mines and wanted a market for her silver, To this was answered that the stock in the mines was like any other unproduced and unproductive metal. As Jor our silver om band, we had less oven than Switzerland. Instead of being scltish we were leas so than any other specte paying State, It was not silver but other industries that suffered, and these America wanted to protect and encourage. It was urged that America had passed the Silver bill as a means of scal- ing the debt—as, in fact, a measure of partial repudia- tion. This allusion Was combated with great force and ability, and in this particular the success of the American delegates was very great. No allusion was made to Canada. ‘The formal deelaration ef the Congress was, alter much thought, promulgated in the following form:— DECLARATION OF THE CONGRESS. “The delegates of the European States represented in the Conference wish to express their sincere thanks to the government of the United States for having procured un international exchange of opinton upon asubject of so much importance as the monetary question. “Having maturely considered the proposals of the representatives of the United States they recog- nia “I,—That it is necessary to maintain in the world the monotary functions of silver as well as those of gold, but that the selection fer use of ene or the other of these two metals, or of both simultancously, should be governed by the special position uf exch State or group of States. “LL.—That the question of the restriction of the colnage of silver should equally be le!t to the dis- cretion of each State, or group of Btates, according to the particular circumstances in which they may find themseives placed, and the mere so in that the disturbances produced during the recent years im the silver market have soriously affected the monetary situation of the several countries, “Ill.—That the differences of epinion which have appeared, and the fact that some of the States which have the double standard find it impossible to enter into a mutual engagement. with rogard to the free coinsge of silver, exclade the discussion of the question of the adoption ef a common ratio between the two metals,” ‘This declaration was submitted to the United States and carefully constdered, In response they presented the fellowing answer or argument, which Governor Fenton read to the Congr REPLY OF THM UNITED STATBA, “In response to the address of the representatives of the European States the representatives of the United States desire on their part to express their sin- cere thanks to tho European States fur accepting their invitation and consulting with them on a subject of so much importance. They regret that they ca: yt en- Urely concur in all that has been submitted to them by a majority of the representatives of tne European States, “They fully concur ina part of the first prepesi- tion—namely, that ‘it is necessary to maintain in the world the monetary functions of silver as well as those of gold’—nnd they desire tnat ere long there may be adequate co-operation to obtain that result, They cannot object to the statement ‘that the selection for ‘use of one or,the other of these two motals or of both simultaneously should be governed by the speeial position of each Stute;’ but if tt be necessary to main- tain the monetary functions of both metals, as previ- ously doclared, they respectfully submit that special positions of States may-become of but secondary im- portance, “From so much of the second proposition as as- signs pecial reason for at present restricting the coinage of silver, ‘that the disturbance produced dur- ing the rocent years im the silver market has differ- ently affected the monctary situation of the several countries,’ they respecttully dissent, belioving that a policy of action would remove the disturbance that produced these irregularities. “In regard to the third proposition they admit that ‘some of the States which have the doable standard,’ or, as they prefer to say, use both m: “find it im- possible to enter into a mutual engagement ior the tree coinage of silver.’ They, as the representatives of the ‘United States, have come here expressly to ontersuch an engagement, The diffloulty is not with them, and, Wherever it may be, they trust 1t may be soon re- moved, They entirely concur in the conclusions drawn from this state of the case, “that it excludes the discussion of the question of the adoption of a common ratio between the two metals,’ “Lt useless to agree upon a particular ratio be- tween the two motals if the nations are not ready also to adopt a policy to uphold it, We remain upon ours, the European world upon theirs,” THK RBAL GAINS OF THE Co! ‘The inference might be drawn, {rom the terms ot tho two documents I have printed, that the Americans were beaten in their arguments, This would be an unfair inference, There was a disposition all through the Congress, with the exception of Switzerland, to consider the Dbi-metallic standard. Bat, as I have shown, diplomacy intervened in many wayr, Although no action was reached the Americans achieved a great deal. The Congross emphatically antagonized the theory of gold metallism, In the countries of Belgium, Switzoria and Sweden, who were gold, the curremcy reserve was only $13,000,000, not more than half of that in Italy, showing that the preponderance of financial pewer was with the American theorics, The great work of this Congross was the expression of a sentiment against the demonetization of silver, and the vindica- tion of tho United States from the suspicion that 4! passage of the Bland bill was a step toward repadia- tio. GOOD FERLINGS AND FRIENDLY FARRWELLS. ‘The sessions of the Congross were held in the For eign Office, under the presidency of Léon Say and the vico presidency of Governor Fenton, The best of good fecling prevailed, and the sessions were long and interesting. Many courtesies were showered the members, and in return the Amertoan Commis. sioners gave a dinner at the Continental ot the most agreeablo and magnificent character, Goy ernor Feuton presided. Sost of the foreign representatives wore present, Among the Americane your correspondent noted President White, of Cornell; Murat Halstead, Minister Noyes, R. R. Hitt and H. Vignaud, of the Logation; Governor Fairchild, Mr. Harjes and Mr. Monroe, the bank Colonel J. W. Forney, Governor R, OC. McCormick, Captain Stokes Boyd, Mr. Lutrobo, Mr. Goshorn, Mr. Bierstadt, the artist; Mr, Hamersiey, and the American members of the Commission, There was no speaking, aud the evening was largely spent in conversation, The American members of the Congress are finishing their reports, which will be t to the Departm of State. REVEALED BY THE SPADE, The laborers employed on the Tompkins square improvement yosterday exhumed th fragme its of a human skutl They were sent to the Coruner’s office, RAPID TRANGI'S VICTORY. ———_+-—___——_ . Complaints Against the Metropolitan. Railway Dismissed by the Grand dur THE ENEMY ROUTED. Leading Physicians Deolare the Road Is Not a Nuisance MONSTER PETITIONS IN ITS FAVOR. What Will Become of the Horse Car Lines Now? ee Yesterday was a great battle day for rapid transit, and the Grand Jury took the final testimony in refer- enoe to the complaints on which it bad been asked by bumerous petitions to indiet the Metropolitan Ele- vated Railway. The battle was won in such a magaif- cent manner asto fill every iriend of rapid transit with rejoicing. Messra, Garrison, Pullman, Navarro, Baird and the other managers of the road appear to be shrewa tacticians, and nobody, it seems, even dreamt of the perfect arsenal of deadly war- material which they bad quietly accumulated since the famous petition of the 185 sawbones was first prosented asking the Grand Jury to indict the rood as injurious to the public health. Yesterday three separate memorials wore presented to the Grand Jury by Mr. Lowery, counsel for the company, signed in all by over two hundred physicians and surgeons, who represent nearly every medical college, hospital or other medical institution iu the city, declaring in the strongest poraible terms that the road has in no wise produced either disease or death, but, om the contrary, Dromises to greatly improve the sanitary condition and decrease the mortality of the city. The following is the first memorial presented by Mr, Lowery, which was signed by thirty-four leading medical men, among them ex-Surgeon General Ham- mond, Protessor Fordyce Barker and Protessor Em mett:— THE FIRST PETITION, Sxrremser 20, 1878, To the Homorasie tHe Guann JURY ov THE City aND County or New Youx—Davip G. FRanots, Esq, Fore- mani. 0 undersigned, physicians and sur, of city. atthe Interest of justies and sclonce, deuite to express our dissent from the proposisions set terth in a memorial to the Grand Jury, signed by cortein medical geutiomen, concerning the detrimental effects of tho noises made by ne Fayeg Hl, a 1 agi ropositi hi st of all, we do not ion that ube soft brath of cluldhood caunot Heald Nlovelop, and waste under the ” nor can we cen, the faculties of magure life saust continuous excitation of a special sex sont thas this “is « Dhysloloyioal nxiom mot admictt debate.” We are not informed of any medi a any authoritative dictum lays an axiom. It the brains work oF ch continus to develop ot sur; yt Tiveiu silent places. ‘The physiological ot noises have never b ade bjeck of study, nor does there exist jovoled to this subject, so farus is known tous: and Lnwise that inferences & prion should have rning this, especially when the weltare of a great community and stich important public interests were involt Forsunately, how: perience of four months ens: bles us to estiinate fairly the effect upon hi life of ol Metropolitan Elevaved Raliway in 8! ee ae hers ‘ aa the er ae healthy, growin; whove active lim ke mdvemonte arrested deveiopmout of their soft brai nervous euorgy of the tracesmen and Others on ‘that «reat thoroughfare continuo to be exer: clved in « way to forbid the supposition of ‘edo not learn that to the | ied by meine has our clienta mental of mor hysteria, chorea, m: paretyels, mouingibis'or desey of With réteronce to the influence of the rallway noises fn, Ugett laryngeal and pulmonery complaint leged, our experven could pentues dis tainly not — Pate NHecessitate use of th insom nia, or pulmonary 10 possibility of these noises boing instrumemtatin pro- tracting disenses or in causing relapses or death {8 like- Wiso Lo be role.sted to the vest of experience, and this ena. bles us to say that pationts on ure no raliwey shat do be suurces of noise which tend to a a ‘Dut as soon as the population on to Sixth avenue becomes accustomed to the novel rever- borations of the railway the inconvenience wil eur jisturb steep in it fod “unhoutt hal of rae city by oF Bae wat he on ip cheap hom: of living are more istand the effect upon the public healsh will ve mi i intuch an uumistekable way that Bowe will’ be able to gainsay it. We should rogard it ns » public disaster shoald wthe sti yoy ot the memorial a. honoraple bod, etive agency I and in vastly tmprovin oa “eo Co. Soc, Me ‘the 1, Bolton M.D: ¥. Poryce Batker, Me D-, Aw Surg’ Women's Hospital, Gon, Puys, to Bellevue, Si, Kitzaberh’s and Nursery and “Cnina’s Hovpitals: &. 'S. Hates, M iA. earsall ‘Brown, Mb: Df Kings Boe. ; t, Lavi, a D., Mem. Co. gue. aus hye sit Aid Assn. M. Med. Jour, Assn. ys. Mat. Aid née, M, Dix Mom, Co! Sac., Path. $0c., Jota Onvorn, M0. Mein. Co. Soe., Neier toast Hoe, ; s Mat. Aid Assn.; M ‘allen, Visising: Pa s. Materaity Mosp.; Stoyell C. Parsons, M Mora. 8 hn pley, M. D.. Vinieis Ye Visiting Puys, st. Brave grees in the main}, Mom. “cota 8 Acad. a0, M. D., Mem: Jour fon.'; W. Schoonover, Mt, D., Meta, 06, Soe.) Phys. Mut. Ald “Ansa. ; Carian 6: simuious, Ne Diy Nein. Co, Soc. Med. A ‘Thos. Ti. skin our, Asi Laasar Bern, M. D., Ate a Baaadort D,, Mom. Oo, Soc., rr Sharkey “th Roberts .B. Sog,; iiudolt Tausaxy: te es § Bint. Aid Wagner, M. MD. thiriy . id memorial, which has wed b: feet t tee elevated roads, This 1 mgaed by titty pbysi- cians and surgeons, ‘THE SECOND MSMORIAL. SEPTEMBER 20, 1878, To the Hononasty te Gnaxd Jony oF Thy City axp County or New Youw, Davin G. Francts, Keq., Fore the unde vd, physici city, in the fat ee unten, dovire surgeons of this press our dissent the prop: rth in orial to the Grand Jory, ain me tlemen, con roing the wa of the ins of th met 6 forth y In the ‘memorial ‘rolgered ent that various nervous, aud duental divenses may bo and are produced by the noise of the said ratlway trains is ouo wintch Is wholly unsupported by to our experience, Ut opinion that by opening up to tion the more elevated an upper part of the t buon Will be conf tine any lives will he save locomotion afforded to the people; wet fe aghts of wintey and rainy weather | jous delays, occasioned by snow, b the use of the elevated railway. For these and many other obvious reasons wo bog leave to protests against tho hasty and ausupported statoments of the momorial above reterred to; and we pray your hon- rassing of prejudieing inion, y the ng avoided by now offe: a D., Met o* Allan Mebane Hamiiton, M. 1. Le Baron Hartt, M.D, C D, y Satterlee, M. Biff, M. De, M. D., “Som. Go. atts ve Varona, M.D. ke. 5 Ge A. Btenror, M. n, i Strteklnnd, ‘i Sthtes Arnolds FD. Poster; by A. Berrien: 2. Bulkley, wee ruil Haup: " Phy BA, ptigineman. Hw ees ys.) Fi 1, S. Seabury J Mem. a ele Heber, Ve La ee -ag' 4 ; Willian Op. Bucs Joseph O'Dwyer, Mem. Co. she Bassmoro, Jt, Mem. Co. iz A a Ww Rowb, Mom. © Repl: Barres M. soliee m; Med Jour’ Assn, Re; Thomas Ii, saith, B sturkes, J. dale David Webster, ‘Mom. of Opthal. Boc., &e.; Le Nircis, Horace &, Will eo THIRD PETITION. The third petition was the shortest of all, but in point of numbers it was a regular ‘‘buster,’’ being signed by no loss than 117 physiciuns and serge thus making over swo hundred in all or nearly sev- enty more than the petition asking for the ‘of the road could beast of :— tes the HonoraBex tie Guann Jury or Tux City AND ney or New Yous, Davin G. Francis, Esa., Foree We. the subscribers, offering this memorial geraes and surgeons of this city, ttully represont that wa do not wxree wish the, all ations of & provious momorial signed by certain other physicians and surgeons and sent to your honorable body: presenting the Metropolitun Ele- y as injarion pate do.not know of any case of ordesth that hae deeu caused by the noise of vad “railway, We consider thas the sald Metropolitan levated Ag ter4 is, and tperd fses to be, # great public benefit, fording speedy and tafe transits aud mt renderime the health{ul region of Upper part of the isiand available for residence to a lar; mrss of the papulation. In this way, it is onay to understand, tho said raitwa: may become insirumental in improving the health! mdiwe tradi any action aud in diminishing the death rate of oar ci your honorable body will not see proper to tending to obstruct the operations of the rond. ‘And we shail every pray. w.T. Saxsodate M. D.; Timothy F, Allen, M. D,; MH. A, v. 1. De; Ad ngo. M. D.; Ferdinand ia nce E. Beebo, ward J. Bermine™ D.; ye Davin M, Des Ohas, Dendy, M, D. John "Doran, D.; G Du labrow. M, “Pi Fignnrt. D. "0, D. ay Z brother, M. D.; Robe: N. M. Freeman, M. D.; M.D, ze Hare, M M.D; J. Jan: Ww poonglolnd ‘Lippe, 1 Di: MP ‘AK. Lyons, M. De; T A. Mebride, au.’ M. "fe Donal, #7 fe biel 5. Mi Mose! jorton, M.D. Tobias P. Mullen, a. D Dey don i. Rosie MD. oe. Qrurie Oortel, M. x Farias: Dey Wintea ih B. for, M.D nigh Es git mtoy ated: Taylor, M. Rivas anaes 3, Wool Le bee 14 39 others, making ie wt ~ WITHDRAWING THEIR SIGNATURES. It is a well known factthat balt of the physicians who signed the petition asking for the indictment of the road are now heartily ashamed of their action, Indeed over seventy-five never read the petition oll, many ot-the signers have since admitted. The grandest or Garrison, Na- varro Was when an additional memorim! was pre- rdoaipy esterday the fraitful Mr. Lowery to ad any in wi “oe number of the are — jon formally and emphatically 1 erie their signatures, and such men as Drs. Bozman, Schéney and Spitzka declare that the pprehensions Leteiyear) in thas, petition were ‘‘not borne out experience;’’ that in the interest of troth andjustice ti ey desire to “correct any erroneous ideas’’ that might have arisen through their ageucy; that they kvow of no diseases of any character whatever ‘which bave been produced or Mrelinawa 7 ie the avises” of the Toad; that they ‘know of no con! been caused by the locomotives, at that since the horses have become accustomed to the strange nowes “the increase in the number of accidents, if th ever was any, has wholly di eared.” Among the retractors are also Drs. Lee, E! a Eliiote THE RVPKCT OF THS PETITIONS. The effect of these monster potitions, which came pen the Grand Jury like a thunderciap—for it had beon frequently claimed by the enomtes of rapid trau- sit that not a single physician could be got to that pe) road was not injurious to health—may be gathered tne fact that the Grand Jary at once declared oor would hear no further testimony e2 the sfbject, Mery synougn Drs, Sayre, Fordyce Barker, Clin: ton De Rosset and otbers had been sutamoned. ad ‘were only wailing im the anteroom to be called im order to confirm the pertect Dealthfulness ond sanitary advantages of tbe road, the Grand Jury were stubboro, and declared with almost one voice that they had heard enough. Messrs. Navarro, Foster, Lowery, Baird and the other representatives of ‘the road were seen by tue Hd at beni to come out with the most tiappily smiling faces, and the rumor went at once round like wildfire ‘tbat the Grand cold had peremptorily dismiased the tal Upon investigation, bowever, it wag matureand that no Gri P up their ‘misae that the complaints mast be dts missed, WES EXAMINED. The only wituess “ examined by the Grand Jury Previous to the presentation of t: bystcians’ mon- ster memorials were Mr. Charles Haswell, Arbi- trating Engineer of the elevated railroads; Joba Baird, Chief Engineor and one of the lone 3 direc. tors of the Metropolitan Elevated Railway, aud Pro- tessor Edison, Mr, Baird’pointed out the various improvementa made on the road in oraer prevent the fizing of jee Tne experiment in ‘Twenty- t had reduced the noise irom thir- ty-tive to forty per cent, bur as it would be a tedious task to change the entire road bed by that meth something better and quicker would probabiy adopted, Anew “spark arrester! was also belug put an, and fer a month tions bad been care- fully watched and no soars secu. Larger engines had also been ordered with a view to slower combus- noise, aud as goon as those were ready the old ones would be gradu altered, Mr. Haswell testified that the company was not so much to blame for the noise as the Kupid Transit Commissioners, for the latter bad required thom to us, and the blow of the wheels with tueir res upon these rails produced a pecaliarty ringing sound, He tnought thal Were now trying to correct this y lay with a broader troad they would materuily n the notse. the noise witn tne phonautograph, pared to other steam roads whose not ured, this one was ep eecommenty quiet He also compared the road with certain railway bridges, which, if put upoa Sixth avenue, would really make the beopie crazy. He thought he had ascertained ail the causes of the noise, and that it could and proba bly would umiatahed flty per ceaw ‘Alter listening to this testimony and receiving the several petitions tho Grand Jury adjourned. HOFFMAS S$ COxvPLAINT. MRS, SERIOUS CHARGES AGAINSI HER HU3DAND, WITH A DIVORCE SUIT IN PROSPECTIVE, Murs. Ida Hoffmann, in a petition submitied y ester day through Mr. Cnarles Strauss, her counsel, to Judge Westbrook, in Supreme Court, Chambers, velis rather singular story. The object of the potition was to obtain a writ of baboas corpus, with a view to regain possession of hor son Darwin Hoffmann, seven years old, whom she charges her husband, Dr. Julius Hoffmanp, with having taken forcibly [row her, MARITAL MIBBRY. Mrs, Hoffmann says sho was married to Dr, Hoff. mann about ten years ago, and that be bas lately been living at No, 116 Socond avenuc. She charges tho Doctor with having treated her in a cruel and abusive manner ever since their marriage. Sho continuod to live with him, however, out of regard for the best of their only child, the boy mentioned "§ reached her in June iast that the Doctor had established improper reiations with two living in Brookiyn. On investigation she avers, those rumors to be correct, and Jef her nusband, aking thelr boy with her. SRIZING THR CHILD, Oo Thursday was walking the gee hie | her voy with he met, as she fart husband, who at once seized thi away by force. Sbe adds thut sh that be has openly stated that he has removed the child where it will be impossiblo for her to find him. RUMORED KLOPEMENT. ‘This is not the wuole of Mes, Hoflmann’s narratt bi in her petition that she has discovered, and chat 1b to be a fact, that Dr, Hoffmann has arranged an elopemeat with one of the Brooklya wemes meu- tioned, and that it i# bis intention to go to San Fran- is Lest told in the pe- t “said Dr. Julius Hoffmann rs @ bad mau have the care of said ch arrested tn other matters et that he belongs to a bad class of people, who re; ‘on the enst side of tho city, known aa SCommuniate’ of ‘social democrats,’ which make him in his hours and g' bim littio time ty to take proper Charge or care of said A DIVORCE SUIT, eats Mrs. Homa she expects ngsioat ner busba hy when him io ber petition will be fully p Tho writ jed for wi prompuy granted made returnable this morning, The production of t child in court 18 demanded in the writ, THE STADT THEATRE TROUBLE, Judge Smith yesterday attornoon concluded the amination into tho alleged assault upon Mr. Henry David, the treasurer and jor of tho Stadi Theatre. Joba Thompson and John Creston, the pris oners, Were in Court, as also & namber of other pro fessionals, ‘he noble ‘Count Johannes” appeared is son to look after the interests of Mr. David, bul udge Smith said: —'Ob, no, Count; the proseow tion 18 well protected by the Vourt.” tho “uuuat,” however, decliued to leave the stand. The investiga tion fuiléd to reveal any pew facts, and Judyo smi finally decided to hold Messrs. Thompson and Creston xi behavior The nrsoners