Crawford avalanche. (Grayling, Mich.) 1879-19??, 1892-12-22
Doings at Brussels.

Doings at Brussels.
The Monetary Conference Committee,
at Brussels, reported on various schemes
which have been introduced to advance
its object. The first plan, that of Tiet-
gen OF Denmark, consisted in the crea-
tion of an international silver currency
based on the variable mercantile value
l'of metal in international intercourse,
but with unlimited paying power for the
| respective countries coming it, Sir
William Houldsworth's plan proposed
| the creation of an international silver
currency In the form of certificates OF
deposits as a legal tender I'm the states
! which would issue them, but not re-
deemable in gold. The adoption of these
| certificates would meet the objections
raised against bimetallism on the
ground of the inconvenience which re-
coinage would cause in case OF varla-
| tion in value of the metal gauged by
gold standard. In order TO attain this
end Sir William Houldsworth proposed
preliminary formation OF bimetallic
union, or, IL this could not be brought
about, at least free silver coinage in
one sufficiently strong country.
OF the third plan it was considered
that NJ. Allard, OF Belgium, who had
drawn it up on the lines of the Window
| bill, with an international character
added, wished to create nm international
silver note not possessing the character
OF legal tender, but repayable to the
bearer in weight of silver variable ac-
cording to the fluctuations of the mar
| ket, but always representing the nomi-
nal value expressed in gold. The
states issuing such notes would have to
| bear in common any possible loss re-
| sulting from repayments ia case OF a
| depreciation in silver.
The fourth plan, which M, de Fovllle,
the French delegate, desired 10 encour-
age was the practice OF depositing sill
yer bullion in mints and banks OF issue,
| with certificates OF deposit and CONNER
| cial warrants negotiable without q le-
| gal rate or a guarantee OF value on the
part of government. Raffaelovltch, of
| Bussia, proposed to give the certificates
an international character by establish
| ing a system OF warrants enabling the
bearers thereof TO obtain, on delivery OF
their receipts, an eqUal quantity of sill
yer at all institutions which adhered to
the plan and having . stock of silver at
disposal.
| Representatives Of the silver produc-
| ing countries objected to this proposal
as lying outside the program of the con-
4 IeTeHCe. une uulJ Ol WulCH Wd6 10 SIuuy
the means of extending the monetary
employment of silver.
| The fifth plan, introduced by Sainc-
tellette, of Belgium, and supported by
Mr.. Montefiore, proposed to create re-
ceipts of deposits of gold and silver,
bearing such conditions that certain
| quantity of gold should be always ac-
companied by IA certain quantity of
silver, the proportion of which should
be determined periodically by an inter-
national commission. which twin de-
posits would be effected in order to be
represented by certificates, the market
price of silver to i've taken into account
In fixing these proportions, that an
international character might be given
to the certificates.
The report proceeds to reproduce the
arguments for,and against these plans
and asked whether the marriage OF the
tw0 metals would not be an artificial
one, and whether the conventional sys-
tenn would meet those requirements OF
commerce, which desired, above all
things, the simplest possible solution OF
the problem. ON the.other hand, il is
urged that wariations,in in the price OF sill
yer would be lessened, II not altogether
stopped, by the ooexistence of the two
metals in deposits represented by GER
tificates and the relative fixity of value
of the twin deposits.