Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-11-23
COUNCIL ON SILVER,
First Meeting of the Conference
at Brussels.
GREAT GATHERING OF FINANCIERs

Two Speeches Witch Advocate the White
Metals Use As sioney-Three Powerful
Opponents to BimetalIism, England,
Germany and Austria-A Call On the
United States Delegates to Formulate
Their Ideas-The Proposition Declined
Until Briday-How the Principal Ma
lions are Represented.
BRUSSELS, Nov. s3-The International
monetary conference was opened shortl,
after O'Clock yesterday afternoon by the
Belgian premier, NJ. Beernaert in the Mar
Ole hall of the Palais des Academies. After
paying his compliments to the delegates NJ.
Beernaert gave an elaborate resume of the
history of the precious metals during the
present century. clearly indicating by his
Interpretation of events early in the seven
ties that he stood firmly upon the platform
Of bi-metallism. He spoke of the siguifi-
:ance of the Latin Union and the vain eff
forts of the states composing it to steady
the relations of gold and silver The prin-
oiple of the Latin Union he regarded as in
vulnerable, tut its benefits in practice had
been eounterbalanced by lack of support
from the majority of the great commercial
nations
Uncle Sam Is the Proposer.
1t was in the direction of international
understanding that soluti On of the men
cary question was now sought. This, he
added, was in accordance with the law of
progress. Numerous such understandings
had already been arrived at for the regula-
ton OF the common interests of the civil
lZed world in regard to telegraphs. railways.
weights and measures, and why should not
the same course be followed in the case of
money? 1t vas fitting that the delibera-
tons OF the conference should take place on
the soil of country belonging to the
Latin Union, but it was for the delegates
OF the United States to put forward the
views OF their government and explain how
IL was proposed to carry these views into
effect.
France and America Pleased.
In conclusion M. Beernaert expressed
the hope that the delegates would reach an
understanding as to the best means for the
rehabilitation of silver and shat to this end
they should make the Latin Union the fouu-
natlon OF vast international agreement
as to the coinage Of gold and silver. M.
beernaers was warmly received by the
American and French delegates, but
evoked fewer signs OF approval from the
delegates of Austria, Germany and Eng
land At the close of his address Senator
Montihore Levi was elected chairman of
the conference and Edwin II. Terrell.
United States Minister to Belgium. was
elected vice chairman.
Not in sympathy with Gold Bugs"
Senator Levi spoke at considerable length
upon taking the chair. He followed the
general lines of NJ Beernaert's address and
made no pretense of sympathy with the
gold bugs" After reviewing the numer-
Gus efforts to regulate the relations of the
metals both through national and interDa-
honal conferences, he described the present
condition OF the worlds money as peculiar
for its unprecedented instability. The
daily disturbance of commerce and fiucsua-
tions OF the so-called standards of value he
ascribed to the unsteadiness of the silver
market. The situation had become SO fraught
with trouble and danger to the finan-
claI world that the time had come when
delegates to such conference as the
present one should sink purely indiyid-
aal or national interests and should do
their work for the benefit of the whole
commercial world
Americans Asked tor Details
Edwin H. Terrell's speech was awaited
with keen interest, rs il was expected to
contain some hints as to the course to be
pursued by the American commission. b
was, however, a purely formal recognition
Of welcome on behalf of the American dele
gates. Several delegates requested the
American representatives to give the details
OF their plan, as the wording of the invita-
ton to the conference had been too yaoue
to convey any clear idea of its concrete OBJ
ject. This the Americans declined to do.
but they promised to submit their proposals
one hour before the next session After ar
ranging the details of the procedure the
conference adjourned until Friday. The
conference will sit three days in each week,
THREE NATIONS AGAINST SILVER
ENGLAND, Germany and Austria Onnnse