The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-12-20
THE MONETARY CONFERENCE.
Ei'TS mat UiIE CONE To LIGHT
SINtE TIE ADJOURNMENT

Early Disscnsions In the American Dciega-
ton 4 hanged Views Among tho Europeau
Members i.~nd TO Hopes or substantiai
Results AT the Nc>t Se--ioN-The AFaeri-
cans arc Content with tho Prospects.
BRrsSHia. Doc ~. Now that tho Monetary
ConfcieAco has Adjourned facts IRE coming
TO light which ha>o an important bearing on
tho work Of tina, body and tho prospects Of
practical results at next summers session. In
the first place. it has been with the utmos din.
Guilty that tho American delegation has been
held together some very contradictory opin-
ions have been represented among its mem.
lers. and those of concilintory views have
tccn ut times almost nj their wits end to pre-.
vent the disagrcements cropping cut in the
OMEN sessions OF the Conference
The English delegation have been hore.
less!y split almost from the beginuing. and
had some disaster Gefallen the Americans tho
Conference would have ended in II nasco after
one or two sessions The pending change OF
administration had much to do with the lack
Of cohesion among the Americans.
Then. too. the almost unanimous condem.
nation in America Of any mere palliative
measure such as the Rothschild scheme has
much surprised most Of the American dele.
gates. Had it not been for protests from
home most OF the Americans would have favor
ed max ing Rothschild's proposition tho basis
Of a more equitable measure In the sumo limo.
Several Of the American members say they
have no doubt that a strong majority recon-
mendation OF u silver purchase plan much
more favorable to the United States than
Rothschild's suggestion could easily have
been carried through. Several Of the dele.
gates are much chnErined that home opposi.
tion made this impossible. They argue that
tho repeal OF the Silver Purchase bill at the
present session OF Congress is impossible.
Therefore it would be of advantage to make
Europe buy thirty or forty millions Of ounces
during tho ensuing year.
The cables were kept busy for several days
over tho matter. but both tho political and
financial authorities in America advised that
it would not be worth while. The attitude Of
nearly all the DELEGATIONS was materially
changed Ivy the advices from homo during tho
progress Of the Conference. This fact makes
the Americans most hopeful OF practical co.
operation In dealing with the ituation at next
summer session.
The United States delegates are agreed that
any practical. equitable plan for an increase
In tho use OF monetary metals. in other
words. bimetalism under some other name.
will secure the support OF the British
and almost all tho other European Govern
ments. Tho most remarkable change was in
luc poSilpil VI tho ueTHluu OcleRhtes lhey
said they were present only as matter Of
courtesy. and they were not willing to con.
slider any suggestion OF change in the present
system. Their instructions were modified
more than once while the Conference was in
session. and at tho close they expressed them
selves ready carefully to consider any plan for
cooperation in mitigating the threatened
financial evils.
Tho important work here las all been done
outside 81 tho sessions Of the Conference.
which from first to last has been Of really lit.
tie importance or Interest. Tho American del.
eEates undoubtedly succeeded In gaining the
confidence OF the representatives Of other
countries. At first It was broadly suspected
that the United States had All axe to grind
and called The Conference merely to secure the
help OF tho other countries in an awkward
dilemma. This impression has been wiped
out. It has been brought home 10 Europe that
the United States lie quite able TO repeal tho
Silver Purchase I'LL and take care OF herself
in the crisis which might follow. The d.sas.
trous consequences which would follow for
Europe have awaken genuine alarm among
her delegates.
THE Sun reporter asked Senator Jones to-
day if he would advise the repeal OF the Silver
Purchase bill by the present Congress In order
to force Europe to deal with the situation In
liberal spirit He replied that such action
would cause widespread panic In London and
other financial centres. and that such Z tori.
bio lesson not necessary or justifiRble.
You will not see the Silver Purchase law re.
realed." 10 said. unless bill is passed at
the same time providing for a still greater use
OF silver
He added significantly that silver would
be stronger than ever in the next Con-
Rress. He explained that the southern
hal in ,,,l,.,
yielded to Cleveland's influence before would
not do SO again because it would mean
political death to them at homo. Nothing
but great discovery OF gold could prevent. in
his opinion. the further monetization OF sill
ycr by international agreement.
Senator Jones has been in close correspond
ence by cable with tho silver barons in Ameri.
ca while the Conference has been IN session.
so that his remarks about Congresses pro.
gramme have considerable Significance.
Mr. Cannon OF Now York tho American
mombor OF the special committee OF tho Con-
ference. has had more influence. perhaps.
with tho delegates from other countries than
any other man. His views have been sought by
everybody. and he has been most successful
in making the American position understood.
While. he says. no plan has yet been suggest
ed which the United States could accept or
consider. he Is most conf lent that an e1uita-
bio arrangement for International cooperation.
II proposed next summer. will gain almost the
unanimous support of the Conference.
Senator Allison said substantially the Same
thing.
All the delegates complain that the reports
Of tho Conference furnished to the press have
been most Inadequate. and in many cases
false and misleading. The stenographers who
attempted to report the proceedings were ut.
terly inconl petant. Ind so. too were the Official
secretaries. II was great mistake to make
the sessions secret.
Several Of the American delegates will go to
Paris for n few days to watch the great drama
OF scandal and politics there enacting. All
the members OF the conference anticipate the
Gravest events in France before they meet
again.
Settled Out OF Court.