St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-03
One Of the British Delegates
Attacks the United States
Position.
Brisson Fails in His Attempt
to Form 8 French Min
istry.


proposal that 43 pence be fixed as the
maximum purchase price of silver. This
figure was consequently withdrawn in
favor OF a higher one, but this cvnces-
sion failed to re concile the opposition.
The report OF the special committee
said that before considering the plans
of Mr. Rothschild, MoritZ Levy and
Adolph Zetbeor, they had tried to clear
their way by getting answers from del
egates to four vital questions. The
first question had been: "What
measures will the sllVer-producing
countries take to restrict or regulate
production ?"
Henry w. Cannon had answered that
no artificial means of regulating
The Production of SILVER
existed IN the United States, and legiS-
lation to that end was exceedingly i'm
probable. Deputy Don Joaquin CasasuS
had made similar reply for Mexico.
The second question had been: What
are the prospects regarding the future
production of silver?" Deputy Casasus
had answered that in Mexico tie pro-
duction had reached its maximum, the
tax having been reduced from so to ~
per cent. Mr.. Cannon had answered
that the silver production in the United
States was confined to six states and
three territories. The extension of
Rocky mountain railways had opened a
large number of mines, whose total
products had reached or exceeded the
highest previous average.
The third question had been: "What
is the policy of the United States con-
corning silver purchases" Mr.. Cannon
had answered that the Democratic and
Republican parties and the bankers of
New York had declared in favor of a re-
peal of the silver purchase act of 1890,
and this act, in all probability, would
be repealed if no international agree
ment was made at the present gcOn-
ference. -
The fourth question had been: "What
is the policy of India in the matter of
silver coinage?' Sir Guilford M0les-
worth had answered that as long as
hope of an s+l sgi
International Agreement
existed India would be reluctant to
alter her present money Sys tenn, but if
the conference collapsed, ana cense-
quently the last chance of united
action was lost, India would feel
obliged to act for herself. The
adoption of the single gold
standard bristled with difficulties which
excited the apprehension of India, yet
she felt assured that her adoption OF
gold monOmetaliSm would be still more
disastrous to countries already having
the single GOLD standard. The only
satisfactory solution of the problem, he
said, would be an international bimetal-
lism, in which India would gladly join
the Latin and the other states.
After diSposing of the four ques-
tionS and answers the committee
had proceeded to the discussion, of
the Rothschild plan for obligatory inter-
national purchases of silver. The OPP
ponents of the plan had contended that
natural economic laws would neutraliZe
the effects of such an artificial
mode of trying to appreciate silver.
The action neceSstating government
purchases of silver in the United States
had failed generally not only to raise
the price but also to prevent it's falling.
Moreover in 1891 Europe had absorbed
300,O00,00 francs worth of silver for
coinage without having had any effect
in preventing the
Depreciation of Silver
To these objections Mr. Rothschild
had replied that the arguments of his
opponents were entirely one-Sided. The
American experiment had beenquite con
elusive. At this point, the report states,
wide divergence of opinion became
apparent in the committee on the
question whether central international
organization should not be created to
purchase the silver in lump for all
contracting powers and then allOt to
each country its share, or each country
should purchase its own share indie
pendently of all others. No decision
was reached in this matter.
The committee decided not to enter
deeply into the complications of Adolph
Zetbeor'S plan, but to confine them
selves to Moritz Levy's proposals. A
motion to recommend the RothSchild
plan was defeated by a vote of Z to q.
As regards Levy's plan the committee
took the action already indicated, with
tho approval of a large majority
Nevertheless Sir G. Freemantle, delegate
for Great Britain, declared that he was
unable to pledge England to withdraw
her solid gold coins unless in connection
with some such plan as proposed by
Rothschild. After discussing the report
and the general question of principle
involved III the battle of the standards.
the delegates decided against re-
verting at once to the discussion
of the original American proposals, lest
such discussion should lead tothe
premature dissolution of the conference.
The conference adjourned after passing
resolution to meet again next Tues
day to discuss Moritz Levy's plan. q!
Attacked America. G5
During the discussion today the Dutch
delegate, BoiSsevain, and the Belgian
delegate, Allard, expressed strong BIZ
metallic views. Bertran Curio, delegate
for Great Britain, created the first
sensation of the conference by max
ing rather fiery attack on
the United States for their iatti-
tude toward the silver question.
He denounced the selfish policy of, the
American government and warned the
out of the fire for the United States
Amer lea wished to make scapegOat of
Europe, he said, in the present con
ference. He derided the attempt to
place silver in defiance of natural laws
and by trivial artificial measures.
The plan of Moritz Levy met with no
show of favor today and will probably
come to very small end, as the Latin
union is understood to oppose it. Italy
is especially hostile to it, as her money
circulation is heavily stocked with small
notes.
The American delegates regard the
position cheerfully. The way is now
cleared for a full discussion of their
bimetallic plaps,in accordance with their
original programme. A prominent OPP
ponent of prolonged debates is Mr.. Ber-
tram Currie, a British representative.
His aim in trying to curtail the discus
sion is to bring the conference to close
at the end of next week. The Ameri-
can delegates will not yield to the appIi-
cation of hasty closure. but IL Mr.. Cur
RES influence prevails the British.
German and Austrian delegates will
withdraw at the latest by the midife of