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nydus/The History of Currency, 1252 to 1896Public
Page 413 of 764
Table of Contents

CHAPTER III

intention of abiding by the gold standard they were in the course of adopting.

The decided lead of France was followed punctually by Switzerland, Italy, Belgium, and Greece. The Netherlands were prepared to join a bimetallic union, provided that Great Britain formed a part of it; and Spain and Mexico were willing to adopt bimetallism, or other measures which would have the effect of raising the price of silver. No declaration was made on the behalf of Russia, though one of the delegates, speaking personally, was an active supporter of the gold standard. The Roumanian Government did not consider bimetallism a practical possibility, and Turkey and Portugal expressed no opinion.

Practically, the United States stood alone in advocacy of bimetallism. In addition to this fact, the situation was rendered much more trying for her delegates by the fact that since their appointment the presidential election had placed the Democratic party in power, and great uncertainty prevailed as to the attitude and intentions of a new President and Congress. "In these circumstances it soon became evident that the delegates were anxious for an adjournment of the question to give the new Government the opportunity of expressing Page 293 their views, and that the conference would adjourn without any practical result. But, nevertheless, some very important statements and declarations were elicited in the course of the debates. In the first place, in addition to the distinct declarations on the part of some of the most important European powers that they would not entertain bimetallism, the representatives of the United States announced in very clear language that at

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