Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-11-26
SILVER is THE CRY
American Delegates at the
Monetary Conference
HAVE A PLAN FOR BlMETAlISM
They Favor u Re-essablishmens Of the
Unrestricted Silver Coinage.

DRt-cELcs NOV. So-1n0 inter-
monetary conference re-
sumed its sittiug this m orning. Sena-
tor William B. Allison and Senator
John p. Jones set forth the American
baslug them on general
view OF the monetary situation IN the
United States and IN the countries re-
ported in the conference. The pro-
posals laid before the conference by
the American commissioners are as
follows: at is generally admitted that
the very large depreciation of silver
as compared with gold in the last
twenty years. and the frequent and
violent fluctuations of silver incidental
nave been injurious to the
and other economic inter-
ests OF all civilized countries, and have
caused and are causing serious evils
and inconvenience to trade, the full
extent OF which cannot yet be meas
ured. 1t is the opinion Of the people
of the United States with singular una
nimity that tie re-establisnment OF
some fixIty Of value between gold and
silver and the full use of silver as .
coin metal upon u ratio to gold, TO be
fixed by agreement between the great
commercial nations of the world.
would very greatly promote the pros
perity of all classes OF the people.
Public Opinion Against It.
"They are not unaware, however. Of
the fact that public opinion in some
M ~h in, =
successful movement for such an agree
ment. is most desirable, may not fully
accord with the views entertained in
the United States as to the practicable
ity of such an agreement. They be-
leve, however, that the sentiment for
the larger use Of silver, as money
metal has been steadily growing
throughout the world, and that the
present time is propitlous for holding
an international conference to consider
the subject.
"The government of the United
States, while frankly disclosing its own
views as to the remedy to be applied,
has not wished to impose any condi-
tions that. would embarra ass any gov
ernment that might be willing to con-
fer upon the most advantageous rela-
ton of silver to the coinage Of the
world. For these reasons the govern
ment of the United States proposed .
convention of the powers for the pur-
pose of cOnferring upon what meas
ures, if any, can bc taken to increase
the use of silver as money. In con-
formity of the purpose of this confer
ence the delegates of the United states
offer the following resolution:
The Resolutions.
Resolved, That in the opinion of TIM
conference it 10 desirable that some
measures should be found for increas
ing the use of silver In the currency OF
the nations.
ain presenting, asrequired. further
program to be laid before the confer.
ence. the delegates of the United
States consider it due to other nations
represented, that opportunity be At
fOrded to them to consider plans for
the enlarged use of silver as money,
other than the one favored by the
United States. 1t is our desire and ex-
pectation that the powers here repre-
eented, or their delegates, Will submit
proposals to this end, and we desire
these to have precedence in the discus.
sions. In addition to any plans of the
kind which may be presented We SUBJ
mt for discussion the following. which
have been suggested by recognized
authorities, at the same time We sub.
NIT the general plan of bi-metalism
which 10 favored in the United States
The Delegates Plans.
Firstly, the plan of NJ. Moritz Levy
proposed to the monetary conference
of 1881.
Secondly, the plan of the late Adolpa
Soetber, (Sevienna Nue Freie Presse
September 30, 1892; Hamburgishe
Boersenhale, August %. 1892; Pioneer
Mail. Allabahad, October l3, 1922.
Lastly we present the plan pro.
posed by ourselves as delegates of the
United States: The re-establishment
and maintenance of q fixed parity be
tween gold and silver, and the con.
tinued use Of both as coined money ol
full debt paying power would be pro
ductive of important benefit to the
world.
Unrestricted Coinage of Silver
These ends will be accomplished by
the removal Of the legal restriction,
now existing and the coinage OF silver
into full legal tender money, restoring
by International agreement the parity
of value between the metals, which
existed prior to 1871, at such y ratio a,
the conference may decide upon. The
essentials of such an international ar
rapgement should be--tbe unre.
stricted coinage of both gold and silver
into money of full debt paying power
fixing q ratio in the coinage between
the metals and the establishment of q
uniform charge. If any, to the publ,
for mIntng gold and silver coins"
The plan proposed by the United
States commissioners cannot be dis
cussed and pronounced upon unit
many other plans shall have been dis
posed of. The general attitude of tn,
conference. however, leaves little doub
that the American plsn will be rejected
The German aud Austrian delegate
are strongly against any measure which
would uecessitate any change of mo
ment in existing legislation on tn.
mOney question. Sir {. Rivers Wilson
one Of Great 8rItain's delegates, stsrtet
for London tonight, presumably to e.
additional instructions from his gov
ernmeas.