The state herald. (Holyoke, Logan County, Colo.) 1887-1921, 1892-12-02
i'HE MONETARY CONFERENCE.


The international monetary conference met
At Brussels on the 22nd.
The countries which accepted the invitation
OF the United States government TO send dele
gates to the conference arc Austria Hungary,
Belgium, France Germany, Grca. Britain,
Greece, Italy, the Netherlands, Portugal,
Roumania, Russia, scrvla, Spain, Sweden and
Norway and SwitxGland. The following Is u
list OF the delegates representing tho United
States:
Senator William r. Allison, Congressman
James B. McCreary, E. Benjamin Andrew,
president of Brown University; Professor
Ronald p. Falkner Of the University Of Penn
sylvania, Thomas w. Cudler, Thomas 7. KEEL
Ter, James T. Morgan, Senator John p. Jones,
Henry W. Cannon and +. y. Leech, director
Of the mint.
The total number Of delegates Is forty-eight.
The opening session Of the conference was
purely formal.
NJ Beernaert, the Belgian prime minister,
opened the proceedings with an address Of
welcome.
Upon the conclusion OF NJ. Beernaert's
speech the Hon. Z. Terrell, United States
minister to Belgium, thanked the prime min
lister for the cordial welcome extended to the
delegates and expressed the respectful homage
OF the American delegates for the King of
the Bclglans. Mr.. Terrell concluded his re-
marks by proposing N. Monteiore Levi Of
Belgium as president Of the conference. N.
Lewis selection was unanimously agreed TO.
NJ. Levi said that he accepted the honor OF
presiding over the deliberations, knowing
that II was intended for Belgium rather than
| for himself. He referred TO the numerous
attempts made TO solve the monetary Ques-
ton, mentioning specially the British gold
sad SILVER commission Of 1886 as distinguished
above all other similar bodies by Its cmlncntly
practical character. The worst feature OF the
present monetary situation was It's instability.
He hoped the conference would sink It's
individual interests and keep IN view the
higher interest Of the great human family.
The conference arranged to meet three
times each week. The American proposal
| will be submitted on Friday, TO which the
conference adjourned.
At the session on Friday, Senator Allison
offered resolutions setting forth the suggcs-
tions Of the United States. The proposals
laid before the conference by the American
commissioners are rs follows:
1t Is generally admitted that the very large
depreciation of silver, compared with gold
| In the last twenty years, and the frequent and
violent fluctuations Of silver incidental there
To, have been Injurious to the commercial
and other economic interests OF all other civ
ilized countries, and have caused and are
causing serious evils and Inconvenience TO
| trsde, the full extent Of which cannot yet be
measured. II 10 the opinion Of the people of
the United States, with singular unanimity,
that the rc-cstablshment Of some fxity of
value between gold and silver, and the full
Use OF silver rs coin metal upon n ratio
TO gold, To be liked by agreement between the
great commercial nations Of the world, would
very greatly promote the prosperity OF all
classes Of the people.
They are not unaware, however, of The fact
that public opinion In some other countries,
whose co operation In successful move ocnt
FOR such an agreement IL most desirable, nay
not fully accord with the views enterta ned
In the United States rs TO the practlcabiliiy Of
such an agreement. They believe, however,
that. the sentiment for the larger Use Of sii-cr
Ms money metal has been steadily grow ng
throughout the world, and that the prc-en ut
time Is propitious for holding an International
conference To consider Its adjustment
The government OF the United States, while
frankly disclosing Its own views as to the
remedy to be applied, has not wished to im-
pose any conditions that would embarrass any
government that might be willing To confer
upon the most advantageous relation Of silver
TO the coinage OF the world For these reasons
the government OF the United States pro-
posed a convention Of the powers for the pur-
pose OF comforting upon what measures, II
any, can be taken TO Increase the use Of silver
MS money. In conformity OF the purpose Of
this conference, the delegates OF the United
States offer the following resolutions:
"Rexoirtd, That, In the opinion Of this con-
la hal mn
should be found for increasing the use OF sill
yer In the currency system Of the nations"
In presenting, as requested, n further pro-
grammc 10 be laid before the conference. tlis
delegates Of the United States consider Il due
10 other nations represented that opportunity
be afforded TO them 10 consider plans for the
enlarged use Of silver rs money other than
the one favored by the United States. II "
our desire and expectation that the powers
here represented, or their delegates, will sub
nit proposals 10 this end, and We desire ihc-c
TO have precedence In the discussions. Iu
addition TO any plans OF the kind which may
be presented We submit for discussion tho
following, which have been suggested by
recognized authorities. Al the same time we
submit the general plan Of blmeiallIsm, whIcl.
Ia favored by the United States;
firs,--Thc plan Of Mr., Moriu Levy. pro
posed To the monetary conference Of 1851.
seeondly-Tbc plan OF the late Adolrh
Soetbcr.
lastly-Wc present the plan proposed ~
ourselves ms delegates Of the United Statss.
The re.establishment aud maintenance Of n
fixed parity between gold and silver and the
continued use OF both rs coined money Of full
debt-paying power would be productive %
important benefit to the world These ends
will be accomplished by the removal Of TIM
legal restrictions now existing and the coin.
age OF silver Into full legal tender money. re,
storing by International agreement the parity
Of value between the metals which existed
prior To 1871. at such a ratio as the conference.
may decide upon. The essentials Of such an
international arrangement should be the nnre.
siricted coinage Of both gold and silver Into
money OF full debt-paying power, liking
ratio In the coinage between the metals, am.
the establishment Of uniform charge,if any.
10 the public for minting gold aud silver
coins.
Sir Charles Rivers Wilson, speaking 70,
Great Britain, said that British delegates al,
hered to the American resolution, which va,
really the ba.. on which the conference met.
The Australian aud German delegates init.
mated that they had been instructed 10 say
tina, they could not assent to any modification
Of their existing monetary laws.
The Dutch, Spanish and Mexican delegates
stated that they were ready 10 vote fayornbly
on the American resolution, while the Rus
Sian, Italian, Roumanian, Swiss and Greek
delegates declared that under their ln,iruc.
tons they were no, permitted 10 vote on the
resolution. The conference ultimately re.
solved, In nccorlan-. with the request Of
Senator Allison, to Postpone action on III.
American proposals until a later meeting ani
Ia consider the proposals submltied by Baron
Rothcchild OF the British delegation.