Morning journal and courier., 1892-12-03
THE SILVER CONFERENCE.

DeRothsehfld's Scheme Rejected
Foster Talks.
BRUssKLs, Dec 2.-The scheme for the
solution of the silver coinage problem sub
mitted to the international monetary con-
ference by Mr.. Alfred de Rothsehild, one
of the British delegates, was rejected by
the committee to which it was referred on
the votes of the delegates from France,
Russia. The first objection made to the
plan was from the delegates of the nations
belonging to the Latin union. They dis
approved the proposal that Add. be fixed as
the maximum purchase price of silver.
This figure was, consequently, Withdrawn
in favor of higher one, but this conces-
sion failed to reconcile the opposition
The report of the committee was sub
mitted this afternoon. 1t declares that Mr..
de Rothsohild's proposals are of great in
terest and worthy of full discussion, but
the committee by vote of z to declined
to recommend their adoption. The COM
mittee declared in favor of that portion of
Molitz Levy's plan which refers to the
gradual withdrawal of all gold coins under
the value of twenty francs and also of all
small bank notss below q certain value
The report concludes with the statement
of the American, Mexican, and Indian dele
gates with reference to the future action of
their countries.
When the committees report had been
submitted to the conference the American
delegates declared that they were not
70 A..
upon adjourned until Tuesday, when the
report VIII bs debated.
WASHINGTON, Dec. 2.-Secretary Charles |
Foster this afternoon said he had private |
edvices in regard TO the proceedings of the |
international monetary conferences at Brus- /
GELS to the effect that the committee to
which the Rothsohild plan was referred
hes decided to first consider the general
question of bi-met1llism. The secretary |
expressed the tsIief that the conference |
has already accomplished come gcoi, but |
he would not commit himsslf further on |
the subject. It is learned from another |
Eource that the American delegates are not |
altogether satisfied with the Rothcohild |
plan, and will endeavor to secure further |
concessions in the came direction.
CALCUTTA, Dec. 2-The Englishman at |
tacks Mr.. de Rothschild's proposals and |
declares them to be too psltry to have great |
anxiety of England TO arrive at settle
ment the propoFels are practically value
lees
BRUSSELS, Dec. 2-The reports to the
monetary conference on the proposals
submitted, commenced by explaining that
the opinions expressed are given on the
individual responsibility of the members
of the committee, and continue by setting
forth that a necessary preliminary for a
proper examination of ono of the proposals
was preoiss understanding; first-as to
the legislative measures likely to bs taken
by the countries producing silver; second
-sxisting probabilities of the futnre pro-
duction of silver in the United States and
Mexico; third-the policy of the United
States as to the purchase of silver; fourth
the policy of India regarding the mint
age of silver.
Regarding the first question Unitsd
States Delegats Cannon stated that the
question of limiting silver had been con-
sidered in the Unit2d States and 1t was
recognized that under existing legislation
there was no means for affirming that OBJ
ject, and that the me iification of the pres
emit law in that direction was improbable.
The federal government had no direct or
indirect interest in the working of the sill
yer mines. European capitslists were,
moreover, greatly interested in American
mines, making the problem more compli-
Gated. 1t would be difficult t. tax pro-
duction which would involve a customs
supervision along the frontiers of the
United States e3ioining Mexico and the
British possessions in order to prevent the
United States the interference with private
rights world hardly Ia admitted. The
value of silver extracted from American
mines was insignificant compared with the
annual total of the general production.
Regarding the third question Mr.. Can
non Eaid that the American democrats and /
republicans beside the great bankers ad-
vissd rereal of the silver purchase act of /
1890. Should the conference fail to make
some disp osition of the question at issue 1t
was more than probable that America |
would not be willing to continue the pur-
chaes of %, DOC, 900 ounces annually. Sir ]
Guilford Wordsworth, delegate from In |
dia. in speaking on the fourth question /
ssid while there was no hope of an interns-
national entente, India would hest
tate to modify her present system. |
India, though difficult, would be |
attended by more disastrous results in |
gold-using countries than in India. The |
only satisfactory solution would be intsr- |
national bimetsllism in which India would |
join with the Latin union and America. If |
the conference should adopt plan render |
ing the maintenance of a relative stability |
of silver probable India would not ba like |
ly TO close her mints to silver. Even though |
the plan was only partly acceptable to the |
government India was prepared 10 pur-
chase silver, or permit the mintsge of not |
less than 90, 900. 600 rupees throughout the |
duration of a period which should be |
agreed upon by the conference.
During the discussion by the committee
it was revealed that silver producing and
free coinage states would not be satisfied
unless ell the silver purchased should be
utilized in coinage, while the European del
egatss desired to mint only the necessary
ouantitv of eilyer