at its exact value in gold, it might be made to | play an important part in the work of international exchange without danger to any interest. Count Rusconi (Italy) contended that money was not merchandise, but a creation of law; consequently the ratio of fifteen and one-half was just as good as the ratio of sixteen or twenty. Mr. Burkhardt Bischoff (Switzerland) contended that money was merchandise, and not the creation of law. All that the state could do was to give a certificate of its weight and fineness. This it effected by means of a stamp. When that stamp was affixed, the state had exhausted its powers. The double or alternative standard was unjust in that it allowed the debtor always to pay in the cheaper metal. The greatness of London as a centre of the world's exchanges was due in large part to the invariableness of the English standard. You could always know what a pound sterling was; you could never know with certainty what a franc was under the double standard régime, when that standard existed. Replying to Mr. Cernuschi's observation on the loss of ninety-six million marks incurred by Germany, he contended that this was a fallacious assumption. Instead of incurring a loss, Germany had really made a gain. She had sold her silver at rates considerably higher than the present market price. If she wished to repurchase it she could do so now at a profit. The proper way to deal with the great stocks of silver in the banks of the Latin Union was to melt them down into ingots, and issue silver certificates for them, of so many kilogrammes each, which might pass into the world's commerce at their value according to the weight represented by them. Mr. Cernuschi reiterated that Germany had lost ninety-six million marks by her monetary reform. This was testified to by the memorandum of the German government submitted to the conference. (This memorandum showed a loss of 96,481,136 marks, comparing the sales with the original cost of the silver.) - During the fifth, sixth, seventh and eighth sessions the theoretical discussion was continued by Mr. Horton, Mr. Howe and Mr. Evarts on the part of the United States, by Count von Kuefstein and Chevalier von Niebauer (Austria-Hungary), Mr. Cernuschi and M. de Normandie (France), Mr. Pierson and Mr. Vrolik (The Netherlands), and Mr. SeismitDoda (Italy), in favor of bi-metallism; and by Mr. Brock (Norway), Mr. Pirmez (Belgium), Mr. Forssell (Sweden), and Count San Miguel (Portugal), against it. Sir Louis Mallet, on behalf of the government of British India, made some important statements. He said that he was authorized to engage that India would continue to keep her mint open to the free coinage of silver for a certain definite period, provided and upon the condition that a certain number of the principal states of the world engage on their part to maintain within their territories during the same period, the free coinage of silver, with full legal tender faculty, in the proportion of fifteen and one-half of silver to one of gold. He would explain how the 124 VOL. III. -5 depreciation of silver affected the Indian government. The government of India had to pay £15,000,000 in gold in London annually. This was the interest on the Indian debt contracted in gold, the interest on railway and canal obligations, also pensions and annuities, and that portion of the military expenditure which relates to pay and commissariat. These expenses were fixed by contract, and could not be reduced. The loss resulting on these remittances by reason of the fall of silver was £2,000,000 per annum. The government could not increase its revenue materially, the land revenue in Bengal being fixed in perpetuity, and in other provinces for long periods. It would be impossible, without serious political danger, to propose new taxes for reasons which the mass of the people would not be able to un| derstand. But this actual loss was not the worst part of it; it was the absolute uncertainty which hung over the future, and which prevented any accurate calculation of the resources of the gov ernment. Then, there was a loss in trade resulting from the uncertainty of the exchanges and a loss of 20 per cent. on the great quantity of silver hoarded by the natives. The great wish of the financial authorities of India had been to have a common monetary system with England. Silver being impossible as a common standard on account of the English system, the choice must be between bi-metallism and gold, and although the latter was at present too difficult, it was certain that if any opportunity should offer itself India would seize it and enter into the struggle for the sole metal left as a solid basis for an international currency. Mr. Moret Y. Prendergast suggested that England might second the undertaking of Germany in behalf of silver by keeping one-fourth of the bank reserves in that metal as authorized by Sir Robert Peel's act. Mr. Fremantle replied that his government would take into very serious consideration the views put forward by the conference, but he suggested that the proposals be put in as definite form as possible. Mr. Forssell (Sweden) said that it was vain to talk about the sufferings and groans of this country and of that country, of this great bank and of that great bank, for the want of bi-metallism, so long as England and Germany refused to be converted. Notwithstanding all that had been said about the growth of bi-metallic opinion in Germany, here was the imperial government absolutely inflexible in its adherence to the single gold standard. There was not one ray of hope in that quarter. England was equally unmoved. Her Indian interests were so far inferior to her general interests that there was not the smallest prospect of her entering into a bi-metallic union. It was said that £2,000,000 per year are lost in the Indian exchanges. That was an ascertained sum, but the loss to be sustained by entering into a bi-metallic union was an indefinite and unascertained Was an exact amount of loss ever bartered for an indefinite amount of risk? Was the monetary supremacy of a country ever sold for two sum. - millions sterling? Bi-metallism would always | could she do in order that bi-metallism should fail of adoption in face of the disproportion between the comparatively slight ailings complained of and the perfectly enormous remedy proposed, and however skillfully those ailings might be added up, the amount would never be deemed sufficient to justify the remedy. Mr. Forssell suggested three additional topics of discussion to be added to the questionnaire, viz.: Has there been, in the last ten years, a fall of general prices which may be attributed to the demonetization of silver and to a dearth of gold? Is there reason to believe that the successive adoption of the single gold standard will lead to a contraction of the metallic and paper circulation sufficiently great to exhibit itself in a fall of general prices? Is there ground for taking legislative measures to economize the use of gold in view of the progressive adoption of the single gold standard? Mr. Moret Y. Prendergast renewed his motion that the conference adjourn from the 19th of May to the 30th of June, in order that delegates who desired to communicate with their governments and receive further instructions upon propositions formulated in the conference, might have the opportunity to do so. Lord Reay (British India) thought that the excellent speeches which had been heard would be valuable contributions to economic science, but when the conference should reassemble it would be necessary to take practical steps to come to an agreement. The habits of English statesmen tended to make them give attention to facts rather than theories. If it were sought to persuade the United Kingdom to adopt bi-metallism, gentlemen could not do better than practice what they preached. They should begin by adopting bi-metallism at home. It would be another glory for the bi-metallists to accept the slight burden of some inconveniences which, on their own showing, would be only temporary. France and the United States were strong enough financially to make the experiment of bi-metallism. Great Britain had not waited for other nations to join her in adopting free trade. If other nations should show their faith in what they professed by adopting bi-metallism, Great Britain would be the first to render them the homage which she had always paid to any work tending to draw closer the bonds which unite nations. Mr. Seismit-Doda (Italy) seconded the motion for adjournment to June 30. The motion was unanimously adopted. On motion of the delegates of India the conference requested the several governments to take the opinion of the chief banks of issue in each on "the monetary question." Mr. Pierson (The Netherlands) asked the delegates of the United States what measures that country would take, in the event of the adoption of bi-metallism, to require the banks to receive silver on the same footing as gold. In most European countries the obligation could be imposed on banks of issue of buying gold and silver at a fixed price. What analogous steps could be taken in America? In short, what | exist there, not only in name, but in reality? He did not ask an immediate reply, but requested that a definite answer be made when the conference should reassemble. — After an adjournment of six weeks, the conference held its ninth session, June 30. At the tenth session Mr. Horton regretted that he was, as yet, unable to present a response to the question which Mr. Pierson had put to the American delegates at the eighth session, or rather, to enter into the practical discussion to which the question would necessarily give rise. Mr. Thurman, reverting to the declarations of Germany and British India, which he read at length, said that these propositions required France and the United States to keep their mints open to the free coinage of silver of unlimited legal tender, this being the condition upon which Germany would agree to suspend her sales of silver for a definite period of time. While the United States would not reject any and every proposition which comes short of perfect bi-metallism, he was bound to say that a proposition which would expose them to alternate drains of gold and silver, according as the one or the other should command a premium in the market, would not be acceptable. The United States held a large stock of gold at the present time, and only a small stock of silver. They would hesitate to enter into an agreement the effect of which might be to lessen the amount of their gold. They would cheerfully become parties to a great bi-metallic union, but without such union would not surrender their power over their own coinage. He said this without underrating the importance of the German and English propositions, which were entitled to most respectful consideration, but which, in his judgment, fell far short of what the exigency required. Mr. Schraut (Germany) desired to combat the assertion that the sales of silver by his government had been the principal cause of the depression of that metal. The largest sales had been made in the year 1877, when the average price was one and three fourths pence higher than in 1876, and two pence higher than in 1878, showing that there were other and more powerful causes at work than the sales of silver by Germany. These causes, in his opinion, were the increase of production, and the increase of sales of India council drafts on the London market, which, taking the place of silver as remittances to India, lessened the demand for silver by an equal amount. The sale of such bills in London from 1871 to 1879 had exceeded the sales of silver by Germany more than three to one. Mr. Cernuschi contended that neither the more plentiful issue of bills by the Indian government nor the increased productiveness of silver mines had caused the depreciation of silver. If Germany had not adopted monometallism, France would have continued to coin the two metals freely: therefore the depreciation could not have taken place. Germany was the sole author of the silver crisis. Unless she had further declara the bank of England. This communication was in effect an agreement on the part of the bank to receive silver and issue its (gold) notes therefor, to the extent of one-fourth of the gold held by the bank in its issue department, as authorized by its charter, provided that the mints of other countries would return to such rules as would insure the certainty of the conversion of gold into tions to make to the conference, she had as yet made no proposition which the United States and France could regard as a concession. Mr. Horton, while agreeing with Mr. Cernuschi as to the mistake which Germany had made in her monetary legislation, could not look upon her as the sole cause of the mischief. It dated further back. England began it, and the Paris conference of 1867, in which the United States took part, propa-silver and of silver into gold. All its notes were gated it. The responsibility was not only on Germany, but on the civilized world. Baron von Thielmann (Germany) said that his government had nothing to add to the declaration presented at the first session of the conference. Mr. Fremantle said that at a later session of the conference he should present a fresh communication which he had just received from his government. At the eleventh session Mr. Dumas (France) made an extended argument in favor of bi-metallism. But if bi-metallism were for any reasons found to be impracticable, he would suggest the suppression of small gold coins, in order to give greater employment and steadiness of value to silver. Mr. Schraut concurred in this suggestion, and would add to it the suppression of bank notes of less denomination than twenty francs, and of the one and two dollar notes in the United States. Mr. Brock (Norway) said that all monometallists would concur in those suggestions, but he pointed out that the proposal of Mr. Dumas differed from that formulated by his colleague, Mr. Cernuschi. Mr. Cernuschi said that all such measures were only half measures; they only looked at small sides of the question, and could come to nothing. The internationality of silver at fifteen and onehalf was the point to be arrived at. Without that, nothing would be effected. "We must have all or nothing." Mr. Pierson presented a declaration of The Netherlands government saying that it would join in a bi-metallic union consisting of "all the great states of Europe and America," but could not engage to act thus if the system were confined to a more restricted area. It would, nevertheless, give serious attention to a project, if proposed at the conference, for establishing bi-metallism in an area comprising only several great states of Europe and America. At the twelfth session, Mr. Seismit-Doda presented a declaration of the government of Italy, saying that Italy would unite with the other states of the Latin Union and the United States of America "in resuming the limited coinage of silver" for a fixed term, provided Germany would agree during the same term (which should be at least five years) to suspend her sales of silver and replace her gold five-mark pieces and treasury notes with silver money, and provided the British government would increase the paying power of its silver crowns. Italy could in no case agree to the free and unlimited coinage of silver, unless England and Germany, or one of them, should unreservedly adhere to it. Mr. Fremantle pre. sented a declaration from his government transmitting to the conference a communication from | payable in gold on demand, and it was required by law to receive all the gold offered to it in exchange for its notes. The president suggested that it would be well at the next session to consider the subject of adjournment. After such profound discussions it was not likely that any fresh light would be thrown upon the subject or additional eclat be given to the proceedings. — At the thirteenth session (July 8) Mr. Evarts, in behalf of the delegates of France and the United States, and in the name of their respective governments, read a declaration stating, 1, that the depression and great fluctuations of the value of silver relatively to gold are injurious to commerce and to the general prosperity, and that the establishment of a fixed relation of value between them would produce most important benefits to the commerce of the world; 2, that a bi-metallic convention entered into between an important group of states for the free coinage of both silver and gold at a fixed ratio and with full legal tender faculty, would cause and maintain a stability in the relative value of the two metals suitable to the interests and requirements of commerce; 3, that any ratio now or lately in use by any commercial nation, if so adopted, could be maintained, but that the adoption of the ratio of fifteen and one-half to one would accomplish the object with less disturbance to existing monetary systems than any other ratio; 4, that a convention which should include England, France, Germany and the United States, with the concurrence of other states which this combination would assure, would be adequate to produce and maintain throughout the commercial world the relation between the two metals that such convention should adopt. The president said that a considerable number of delegates had expressed a desire to see the conference suspend its labors and adjourn to some later date. He suggested that this subject should be discussed. Mr. Forssell (Sweden) objected to this proposal as likely to lead to no practical result, while it would give a character of permanence to the conference which was not contemplated or authorized by the governments represented. It would be better to acknowledge at once that the projects of bi-metallism had collapsed, and to reaffirm the conclusions of the European delegates at the conference of 1878. Baron von Thielmann (Germany) asked that the reasons for adjourning the conference to a future date be formulated. After a recess of twenty min utes, the president read an explanatory resolution saying that, considering the speeches and observations of the delegates and the declarations of the admit a parlementaire, or person of truce, or to make his admission subject to such conditions as may seem proper; for example, that he shall be introduced into the lines with his eyes bandaged. Once admitted, the parlementaire should be protected, not only against all bad treatment, but against all insult.* The parlementaire is not obliged spontaneously to close his eyes and ears during the course of his mission, and he has a perfect right to observe what he is allowed to see, sometimes with design, and to let his side take several governments, there is ground for believing | ious; but there is always the right to refuse to that an understanding may be established between the states which have taken part in the conference, but that it is expedient to suspend its meetings; that the monetary situation may, as to some states, call for governmental action, and that there is reason for giving an opportunity for diplomatic negotiations; therefore the conference adjourns to Wednesday, April 12, 1882. The resolution of adjournment was supported by Mr. De Normandie, Mr. Pirmez, Lord Reay, Count von Kuefstein and Mr. Brock. Mr. Forssell with drew his objection. The resolution was adopt-advantage of his observations. But if he should ed. On motion of Baron von Thielmann, the thanks of the conference were awarded to the president for the impartiality with which he had directed the proceedings. The Conference then separated. It did not reassemble at the time fixed in the resolution of adjournment. There has been no public statement of the reasons why it was not reconvened. HORACE WHITE. PARLEY. Two hostile armies often have need, even in the very midst of hostilities, of holding some correspondence with each other; for example, concerning the burial of the dead or the exchange of prisoners, or to propose a capitulation, to arrange for a suspension of arms, etc. This correspondence is effected by means of persons charged with the parley. In antiquity, at least in Greece and Rome, as well as in the middle ages, the persons sent to conduct the parley were always heralds, that is to say, men who held that office, not only for a special mission, but, in a way, permanently. Heralds fill a large place in Homer's poems, and many passages bear witness to the profound respect which was paid them in those remote times. For example, Talthybius and Eurybates, sent by Agamemnon to demand Briseis from Achilles, stopped overcome with terror at the door of the hero's tent; but the latter saluted them with these words: "Welcome, sacred heralds, ministers of gods and of men, you are innocent of the insult which I receive." For a long time the custom has been simply to send as parlementaires, officers accompanied by a drummer or a fifer, bearing a white flag. The inviolability of the parlementaire (person of truce), which appears to have been founded in antiquity upon the sacred and almost priestly character of the herald, rests to-day upon international law. It is one of the oldest, most elementary and most essential regulations of this law. "Nomen legati," says Cicero, "ejusmodi esse debet, quod non modo inter sociorum jura, sed etiam inter hostium tela incolume versetur." Whoever attacks this principle, not only injures his adversary of the moment, but, to use Vattel's expression, "he injures the common security and safety of nations; he renders himself guilty of an atrocious crime against all peoples." It would not do to allow any departure from this sacred rule, even in civil war and toward the envoy of a party which is considered, rightly or wrongly, as rebell abuse his character to act as a spy and to concoct plots, he would expose himself to be ignominiously expelled; he might even, in certain cases, be deprived of his immunities, be detained as a prisoner, or even be put to death. The rigor of the law can even go to this extremity; but it is almost always not only more humane, but even more politic, not to have recourse to it, and to respect the character of the parlementaire, even in those who have abused it. GASTON DE BOURGE. PARLIAMENT, The British, is the supreme legislature of the United Kingdom, and its history is, to a large extent, the history of the growth of political freedom. The attempts to trace the origin of this parliament to the Saxon period fail to connect the Wittena-gemote (meeting of wise men) with the representative principle, the hereditary character, or the royal summons, three characteristics of the present British parliament, which are deemed essentials of its constitution. It is by act of the crown alone that parliament can be assembled; only twice have the lords and commons met by their own authority-first, before the restoration of Charles II., and again at the revolution in 1688. Parliament is also prorogued (adjourned to a certain day), or dissolved by royal proclamation only. While the main constitution of parliament, as Blackstone says, was marked out in magna charta, A. D. 1215, when King John promised to summon the nobles, bishops, etc., to council, its actual first existence is commonly referred to the year 1265, when the writs of Simon de Montfort first summoned knights, citizens and burgesses to parliament. From that time parliament has consisted continuously of two houses, the lords and the commons, while the Saxon Wittena-gemote and later councils consisted of one chamber only. The creation of a house of commons elected by the people (or by the property element), may be said to have had its birth in that jealous care of the rights of property, so all-pervad The institution of parley is useful to the strong as well as to the weak; not to respect it is not only a crime, but also, for each, a very grave fault against his own interest. It sometimes happens in war that a parlementaire is killed; we believe this is always by mistake. The flag has not, perhaps, been seen, or, if the envoy presents himself during a battle, which is generally a very inopportune moment, he may be accidentally wounded.-M. B. ing in the British mind. The early kings had so be no other than the representatives of the will of the house of commons for the time being. What is called the government of England embraces not only the cabinet, but from forty to fifty political heads of departments, who quit their places with every change of administration. These changes, as we have seen, occurring every four years on an average, are effected by the majority in the house of commons, and this in its turn is dependent upon qualified suffrage. The powers of parliament are theoretically divided between three co-ordinate branches-the crown, the peers, and the commons-for the sovereign is, by the constitution, a part of parliament, having to be present in person or by proxy, and every law requiring the royal assent to its passage. The veto power, still lodged in the crown, has not been exercised since 1707, or for nearly two centuries. The house of lords, which has in theory equal law-making powers with the commons, can really do little but register the edicts of the latter. | Although there are some measures of policy, such as the right of Catholics and Jews to sit in parliament, the extension of the suffrage, and the reduction or abolition of taxes or prescriptive privilege, upon which the stubborn opposition of the lords has for years stood in the path of reform, that reform has always sooner or later been carried. The political history of England is one long testimony to the weakness of precedent and prerogative when standing in opposition to the power of an enlightened public opinion. - It may appear something like a paradox to assert that the powers of the popular branch of parliament are even greater now than in the days of Cromwell, when both the throne and the house of peers were abolished, and all sovereignty was swallowed up in a parliament of one chamber. Yet it is apparent that, with the single exception of the judicial power, which is still reserved to the house of lords, the commons of England, through their legislation and through their cabinet, wield a far more comprehensive authority than did the long parliament under the lord protector. The very constitution of the kingdom, that unwritten yet all-controlling governmental power, is nothing but the net result of the long series of parliamentary assertions and statutes, down to the latest embodiment of administrative power in the cabinet, which is defined by Bagehot as a committee of the legislative body, selected to be the executive body." - The organization of parliament is attended with great formality. The lord chancellor announces to the house of commons (previously summoned by the gentleman usher of the black rod to attend in the house of lords) that as soon as the members of both houses shall be sworn, her majesty will declare the causes of her calling this parliament; and further requests them to choose their speaker, who must be presented in the house of lords the day after, for the royal approbation. This being done, the speaker formally claims, on behalf of the commons, "all their ancient and undoubted rights |