“Then comes the larger question of the disposal of the remaining three billions of gold now on my hands. It is as much a matter of concern to the whole world as to America. I should like to submit the problem to a commission, necessarily small, and composed of the highest statesmanship and financial wisdom of the world. I know of no way of doing this except through you. It would, I think, be within your power to convene such an international monetary conference. Only the great powers need be invited, and without disclosing the secret, even to the heads of governments, an intimation of the importance of the matter could be conveyed through diplomatic channels, and thus you could secure the selection of delegates of the highest ability and influence. Of course no hint of the truth must be allowed to transpire until this conference has decided upon a final policy, and arrangements have been made for putting it into execution.” The president listened to Brent’s statement with close attention and manifest interest. He remained for some moments in profound thought. At length he said: “On first consideration, Mr. Brent, I am inclined to approve of your suggestion unreservedly. There are difficulties, but I think they might be overcome. I will talk the matter over with the secretary, and we will all discuss it together again a little later. What is more pressing for the moment is our present policy. The Congress, as you know, meets next week. I was engaged in reshaping my message when you came in. After what you have told me, it may be necessary to redraft it entirely. I was prepared to recommend vigorous measures to bring about restoration of confidence, even to the suspension of the free coinage of gold, if such a policy seemed advisable. But with all the other mints of the world still open, and with your assurance that no more additions will be made to the unnatural supply of gold, such a course appears to be unnecessary. We have already curtailed the work of the mints. You know they have all been coining gold day and night at top speed for months, and still have been unable to handle a fraction of the metal offered. Hereafter they will run only during regular hours and at ordinary capacity. Have you noticed, by the way, gentlemen, how completely you have solved the silver problem?” “Yes, sir,” responded Brent smiling. “We have almost succeeded in both demonetizing gold and remonetizing silver.”