Publisher's Synopsis
Excerpt from The Monetary Conference; What America Asks From Other Nations: Address of Hon. William M. Evarts, of the United States Commision, at the Close of the First Session of the Conference Held at Paris in May, 1881
Mr. President and gentlemen OF the conference: The first disturbance in what was a satisfactory condition in the working of the money market of the world - become so by either a fortuitous or a circumspect consent which had obtained between the nations theretofore - the first dis turbance in that condition of things grew out of the debates, and came as a sequel, of a conference that really had no function or duty in the matter which we now discuss. The Conference of 1867, meeting for and undertaking to treat that important consideration of convenience and utility, the unification of the coins used in the computations and the transactions of the world, naturally, under a scientific, a mathematical, a symmetrical consideration of the subject, felt that if there were but one metal money in the world it would be easier to have a universal system of coinage. Bent, with the zeal of their work, upon accomplishing that secondary result, and finding that the reduplicated impedi ments grew out both of the use of the two metals and of the great diversity of coinage in the two, they thought that the Way to get at a unity of coinage was to have but one metal in the service of the world for its money. This was a clear subordination of the end to the means; this was a sacrifice of money that could not be spared in its volume and in its force, in order that the symmetry of the mintage might be more conveniently attained. This was in the nature of a sacrifice of the great and manifold transactions of an open commerce to the convenience and the simplicity of the bookkeeping which records it.
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