New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-03
THEMONETARY CONFERENCE
A. DE ROIHSCinLD'S PLAN REJECTED 81
THE COMMITTEE.
THE VOTE SEVEN TO SIy-THE CoNFhhhN0'
TO DEBATE TIE REPORT ON TUESpAi
AMERICAN pELEGATEs CHEERFUL
I,EErU\G IN INDIA.

THE FEELING IN INDIA
Brussels Dec 2-1he scheme that was snpm''"'
to the International Monetary Conference ~
fred de Rothschild, of the BRUSH uV's"nS'
las bcen rejected by the committee TO which IL was
referred on the votes of the delegates from fl"ioo'
Jtalv Belgium. Norway and Sweden ana huS9i''
The report of tie committee wac '"
mittei this afternoon. The iirst ooJeo'iv"
made TO the plan was from tNo ...
gates of the nations belonging 10 tne '"',.
Union They disapproved the proposal ''''' 80
pence be fixed as the maximum purc"a~ p',I'
of silver. This figure was cohsequcn,N
drawn in favor Of higher one ouQ 'i's 'o"''
sion failed TO reconcile the opposition
Tho renort formulated on the proposals by the
committee notes A diversion Of opinion as 10
,vbethor the nurchas,s should he collective or In
diyidual: il also notes that Soctbecrs scheme was
complicated and did not afford basis oil agree
wont Therefore only Moritz Levy's plan was
considered The objections TO the Levy scheme
referred IN the cost of reconage and the unpopu-
,,,itv Of the withdrawal of small gold coins, and
the difficulty of withdrawing small notes
Tie committee by large majority approved
the Levy scheme which contemplates gradual
withdrawal of ali gold coins under the value oil
20 francs and all bank notes under 20 francs.
mittee rejected Mr.. de Rothschild's scheme by a
vote of to g.
The report of the committee began by explain
ing that the opinions expressed are given on the
individual responsibility of the members OF the
committee. and continues by setting forth that
a necessary preliminary for proper examination
of any of the proposals precise understand
ing: first as TO the legislative measures likely 10
be taken by the countries producing silver; sec
ond. existing probabilities of the future pro-
duction of silver in the United States and Mexico
third, the policy of the United States as to the
purchsse of silver fourth, the policy OF India
regarding the mintage of silver.
Regarding the first question, Henry W. Can
non. one of the United State, delegates stated
that the question of limiting silver ha1 hccn
considered in the United States. and 1t was rcog-
nizcd that under existing legislation there were
no means for attaining that object. and that the
modification Of the present law in that direc-
zion was improbable. The FEDERAL government
had no direct OF indirect interest in the WORKING
of the silver mines European capitalists were,
moreover greatly interested in the American
mines that fact making the problem more COM
nlicated II would be extremely difficult TO tax
q nroductjon which would involve 4 customs super
vision along the frontiers Of the United states, ad-
toininr Mexico and the British possessions III
order to prevent the smuggling Of the ore meta!
hut in the United States the interference VITA
private rights would hardly be admitted lhe
value of the silver extracted from the American
mines was insignificant compared with the annual
..,.l .f iI.~ .soa~raI production Tho oNtansi"n
Of the railroads in tile Rocky Mountains had LED
to the opening OF many mines. An inventory OF
tbe mineral wealth had be.n made. and the
s,eaker could readily believe that they had
nearlv reached. If they had not passed, the maxi
mum production.
REGARDING the third question, Mr. Cannon said
that the American Democrats and Repuphcans,
besides the great bankers, advised a repeal OF
the Silver Purchase act Of 1890 SH"uld inc
Conference fail ~ make some disposition OF '"e
question 1T issue il more than propapie
that America would not bc willing To continue the
Durchase of "a OOO, 600 ounces Of silver annuflN
Delegate Casasus Of Mexico. expressed himself
as entirely agreeing with Mr.. Cannon t'a' '''
cree, increase of silver in MeNico was due TO
the reduction Of taxation. and 70 the improved
methods of extracting and refining The SiiT"r ana
the dl,oinution Of cost of Transportation In he
half Of the Mexican Govcrumr nj. lie decl' tli'
+be production Of silver in Mexico had perhaps
reached the maximum As silver was ~" c"i'i
article Of export il not 10 the interest," oi
,ho cover,mcnt 70 interfere with tie industry.
anil under the Constitution 10 means existed to
r&striet tie output or to prohibit its export
SIR Gliltor! MocSworth, ono OF TIE dr"'H'' -
from India in speaking on the foHr'h q'"s"'"
cold thu. ,vbnc there was hope of an micrna-
tioonal entente, India would hesitate 10 n'o'liS
her present system. The adoption OIL eoi'
standard in India though difficult, would De at
,apded nv more disastrous results III goid-usihs
countries than IN India The only satisfactory
solution would be international olIne'aillsh' III
which India would join with the LAIN 'h'o" al"
America II the Conference shonlr adopt a pan
rendering tue maintenance OF rel'uNe sa"'ns
of SILVER probable, India would not be hNeY 10
clos. her ,uints 10 silver. Even though the pa"
was only partly acceptable to the Government,
IndLl was prepared TO purchase silver or pT'h'
the mintsgc of not less than 100000 rupees
throu- hont period, the duration oi which s"""''
be ayrceG upor by the Conference
Senator Allison moved that the Conference ad-
,ourn until Tuesday VI Ranaoviteh olpos sd
the motion. but NJ 1ilard. out Of courtesy TO
the American delegates supported the motion,
sltlsgh he did not understand the nethou
OF their procedure. After some discussion oei-
sior Allison's motion was adopted.
Tie American delegates regard the posl'loh
che.rfnily The way is now cleared for lui
discussion Of their bmetalic plans, in accordance
VITA their original programme.
prominent opponent Of prolonged depa'e9 10
Bertram Currc. q British preventative Ills
aim in trying 20 curtail the discussion IS 10 pfia
the Conference 10 close at the end Of next week
The American delegates will not yield TO the
application OF hasty closure: but, If Mr.. Curric
Influence prevails the British, German ana
Austrian delegates will withdraw, at the lat
est by the middle Of December, and thus brc&"
up TIE proceedings
Tie delegates having a pleasant time So
CHILLY. Dinners ard other entertainments are Oh
nightly occurrence NJ Montefoie Levi Me presi-
dent Of the conference has taken the Pau Theatre,
and has engaged " Coquclin, the famous actor,
with company from Paris, to play "'rhe Tanning OF
the Sirew., Tho performance will be given espe-