The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-12-03
BI-MEIALLIC PLANS.
The American Idea VIII Now
Be Discussed.
RoTHsCHILD's PLANS REJECTED.
British Delegates WIN Now EndeavOr to Cur.
tail Discussion and thus Break
Up the Conference.

BRUSSELS. Dec 1.-The scheme for a So
lusion Of the monetary problem submitted
10 the international monetary conference
IL lSothschild, was rejected by the COM
n4ttee 10 which it was referred on the votes
CT the delegates from France, Italy, Bel
gum, Norway, Sweden ana Russia The
first objection made 10 the plan was from
delegates of the nations belonging TO the
Latin union. They disapproved the propo-
sal that fcrty-three pence be fixed as the
maximum purchase price OF silver. This
figure was consequently withdrawn in
favor Of higher one. but this concession
failed to reconcile the opposition.
Reports were submitted this afternoon
By Ra1faloyitch. Of Russia, chairman Of the
committee. It declares Rothschnd's pro-
posals are Of great interest and worthy of
full discussion but the committee by a vote
of seven to six declined to recommend its
adoption. The committee declared in favor
Of that portion of the Menetefore Levy
plan which refers to the gradual with
drawal of all gold coins under the value Of
2e francs; also Of all bank notes below g
certain value.
The report concludes with statement
Of the American, Mexican and Indian del
egates with reference to the future action
OF their countries. This statement is not
get obiainaOle. The American delegates
regard the position cheerfully. The way is
now cleared for full discussion of their
bi-metallic plans in accordance with their
original programme.
4 prominent opponent of prolonged de-
bates is Bertram Currie, British repre-
sentative. His aim in trying to cUrtail
discussion is TO bring the conference 10 a
close at the end of next week. The Amer
ican delegates wiz not yield to the apDlica-
ton of hasty closure, but if Curries in
Huence prevails, the British, German and
Austrian delegates will withdraw. at the
latest by the middle Of December, and
thus break up the proceedings.
The report Of the committee TO the con-
ference on the proposals submitted com
menced By explaining that the opinions
expressed were given on the indivual re-
sponsibility of the members of the commit
tee, and continues by setting forth that it
Is necessary that prellmInaHss for the
proper examination of any proposals with
g precise understanding RS 10 legislative
measures are hkely to be taken by coun-
tries producing silver; existing probabiii-
ties OF the failure of production of silver in
the United STATES and Mexico; policy Of
the United States as 70 the purchase of
silver, and the policy OF India regarting
silver.
United States Delegate Henry W. Can
non stated that IN the United States under
existing legislation there is no means for
limiting the production OF silver, and that
g modification Of the present law in that
direction is improbable. The value of sill
yer extracted from American mines is in
Significant as compared with Tie annual
total general production.
In, half IF
the Mexican government, said as the chief
Rrticle Of export it is not to the interest Of
the government TO interfere with the in
dustry, and under the constitution no
means existed TO restrict the output or pro-
hibit its export.
Regarding the third question Cannon
said should the conference fail to make
some disposition of the question at issue,
il was more than probable thai America
would not be willing to continue TO pur-
chase ffty-four million ounces Of silver an
npaily.
l. Sir GuiIford Wordsworth, one of the del
egates from India, in speaking on the
fourth question said: "Whlle there was
hope OF International entente, India wouiu
hesitate to modify the present system. y
The committee by a large majority ap-
proved the Levy scheme which contem-
plates & gradual withdrawal of all gold
coins under the value OF twenty francs,
and all bank notes under twenty francs ex-
cept il the case of silver certificates.
Sir C. Freemantla. deputy minister OF
the English mint declined 10 commit his
government to the Levy scheme unless con
currently adopted with that of Rothschild
or z similar plan.
After vote was taken Dutch delegate
opened the general discussion with q view
10 inducing the American delegates TO sub
nit definite proposals for international BIZ
metalism Senator Allison then moved to
adjourn until Tuesday. and after some dis
cussion tie motion was accepted.