New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-01
SILVER COINAGE PLANS.
Ctntinnrd from First Page


that vouh best inurc to the advantage OF Great
Britain. lie said
"Europe could well AFFORD TO undertake the COM
paratlvey small purchases Of silver contemplated III
this scheme II thereby 1t would fasteh the preSeA'
policy OF leaving the burden Of supporting silver on
the United States. The result of the plan would be
TO burden US with an enormous stock OF the metal Anu
orr finances at the en- Of five years would be worse
OF than they are now General Thomas added that
he had urged previous to the passage Of the Act OF
1850 an amendment to tie proposed law which would
substitute gold for the silver purchases proposed
II that attitude had been aiken by this country then
II would not have required six months purchases Of
gold TO bring the Governments OF Europe on their
knees to the United states to effect solution Of the
silver problem. one decided benefit accomplished by
the brussels Congress, General Thomas thought vas
that IL had already opened the eyes Of feecoinago
silver men 10 realization that their position was
hopeless In view OF the attitude Of foreign nations
william Sherer. manager Of the Clearing House.
said
I, does not seem 20 me that the proposition will ac
compli.h ANYTHING II would Il adopted throw the
burden supporting silver the United States but
II would not settle the silver question. Ergland Is In
stronger position than any other nation in The monetary
situation and doubt II viii assent TO any proposition
that will reduce its prccmncnce. There Is no DOUBT
that good may from the conference. In that AZ ea'
II will public Interest IN the question: ana paw
the way toward an earlier settlement Of the silver question
National Bank reluctant to discuss the subject
lie said that the proposition rs II appeared In the
present cable advices so objectionable upon us
face that 1t could not be discussed seriously and II
was almost waste OF tine express an opinion until
fuller details presented.
s. v White said
am pleased not with the Rothschld proposition. but
with the fac, hat it comes from the British delegates.
Thot fact proves there Is realization in BRUSH
financial circles pressing importance Of the subject
and that the English people oIe as deeply int"resed g
We ore In @ satisfactory solution. an a bimctA!st IN
believing that tcYo should be international exchange
Of the metal, proper basis 70 b. liked with uu'
regard Tor the relative supply OF cod ana silver out'Uv
OF the requirements Of The arts IL Is gratifying 70 ha's
England present a proposal that will b. tn basis 81
careful consideration which leads to believe that
Will result in the Conference finding balls OF agree
ment which Will b. equitable 20 all Interests ard when
carried out will conduce to general prosperity
william Lanman Bun. Il Edward Sweet & Coz ex-
president Of the stock Exchange. SID:
This proposito, u NJ Dc rotschi shows the anxiety
OF Enel1nl and Euo psn nations in general T. have Us
keep up the present ridiculous policy Of purchasing 'lN'F
This is the first tine they have shown any htr''t
in our monetary affairs. Il means tia, If We viii keep
on taking silver then they willing N take CON.
parlt ycly small amount m. amount ramd q 80 small
suppose 70 0e intended -erorsly but mat
is meant only ba-!- Tor NEGOTIATIONS II j. evident
that aur Only method u Inducing cooperation BY forcrn
nations In the more general % silver j. through thor
tarA and that those could be ~ effect only by
tie stopping o, purchase. Of silver. IN ny indg'
ment cessation OF silver purchase by ' United states
womb at induce such acton by foreign Powers as
would result in greatly increased Use % silver new
and rational basis Unless these purchases are suspended
(, docs not seem likely that The Conference Will have any
result.
J. 5. Kennedy. a director Of The National Bank Of
Commerce and Of the Manhattan Bank. said
think We ought 70 step tAe monthly Purchases o.
silver. silver Should b treated the sane as cope.
So long a. We keep puichas-ar. men Will keep nlnns
Il and selling 70 the Government. II We are COINS T.
have yard stick let not have one OK Two !elcps.
Way should 80 on encouraging mca u uino more
silver uaa is neodcIl Instead o. letting silver md -
value a, merchandise and a. such so abroad % pay
debts arc buying silver and scadinc out gold, Just
what want T. keep. oonnoi tel tho Gay 90 hour
when sail collapse, BIT the lnc VII 'pTcy come
JUS, a. Inevitably as ruin conc, % the d!'slacf man
80 nation ca1 use standard nuc,uatng a. silver toc'
As well use a rubber ya'd stick. Il l. an artificial
state u dr3lrH which aef ed In disi7'fr
have faith Of any good coming out o' NC conference
AID especially THIS op,siuon Of NJ Dc hoihsehid for
II, provide 0r keeping up purchases. While Euopen
Governments % not seem iom DE reports 70 he lur-
chasing aay more than now, rather Jess.
e.. g. Williams. pFcJfoL. Of o. Chemical Na'lonnl
Bank remarked:
Nv idea Is That We have e.. % % On with silver as
supp have o. d.. for though favor Tie repeal
q tho present law don't think con accomplish II and
have got - take things as they ere then cNeY gallo 100
Emopean consumption q benefit % II Europe taxes
~ WV puma 'S',,' "' ''' -,
:. "'P - e. . -.
twenty % one 10 would Dee better. TIE SILVER mon a.
ing - permit " Do .'1p pufrh',ng silver. The'
going 10 make Us Keep On and trust % Providence -
bcIn al. out
q. don't think much u Tie con,,-.ncc- said John
n a., ,-.l,.,., ~, 90. National -b,. a,d to,,bc,
nank. IT mas lead % something, but / don't sec
any immediate benefit
-''" -. 'i-' "
Nhu'hAI h'"N' sam me P''P''"'" VI VII W.
h"iA7'1d J. aO'uI'' anu - ITO i'H''y "' III ''' ""
evil
l.. I. Wright president OF tie National Park Bank,
expressed his We've a. follows, ard OAcr officer %;
h, bank. took the same position:
II seems that no K0hs hl4s proposition Is L.
create fictitious value silver which sells
markets q London U0e any other commodity. d. not
believe in any lcr,Ous valve Tor silver. IL should uni