The times. [volume] (Richmond, Va.) 1890-1903, 1892-11-26
AMERICAS PROPOSALS
IRE COLDLT RECETFED By TIE
MoNErARY CONFERENCE.
Representatives of the Powers Decline TO
Consider Them Without First Con-
sulting Their Government.

American proposals. and reviewed the
monetary situation in the United States
and other countries represented In the
conference. They submitted a general
plan on blmetalism offered by the United
States showing, first. that the re-estab-
lishment and maintenance of hxed
parity between gold and silver and the
continued use Of both as coined money
OF full debt paying power would be pro-
ductive Of important benefit to the world.
The American delegates also submitted
resolution declaring that In the opinion
Of the conference IL Is desirable that
means be found for an increasing use OF
silver in the currency systems or the
nations document prepared by the
American delegates and presented with
the resolution explained that they wished
that an opportunity be afforded 10 con-
slider their plans.
English influences are evidently busy
In opposition to American schemes. The
English delegates hardly make eny con-
cealment of the fact that they mean, IL
possible 10 make the conference abor-
tive They privately hint that the object
Of Englands representation i'm the con-
ference is to enable the British Govern
ment TO tell the Government OF India that
they have done all that is possible, and
that. If no agreement can be arrived at.
It is because the problem is an unsolvable
one.
The document submitted by the Ameri-
cans concluded as follows:
These ends will be accomplished by the
removal of the legal restrictions now
existing, and the coinage Of silver into full
legal tender money. restoring by inter
national agreement a parity Of value be-
tween the metals at such ratio as the
conference may decide upon. The essen
tials of such an international arrange
ment should be:
81 The unrestricted coinage of both
gold and silver into money of full debt
paying power.
80. Fixing a ratio in the coinage be-
tween the metals.
80. The establishment of a uniform
charge If any. to the public for minting
gold and silver coins"
The American proposals were coldly re-
ceived. Mr.. Tierand, of the French dele
cation, who speaks with authority as a
former minister of finance. declined To
consider the proposals without first con-
suting the French Government, and In
this position Tierand was sustained
by most Of the other delegates, who also
declined to give consideration TO the
American proposals without consulting
their respective governments. Thereupon
American delegates decided to withdraw
their proposals Professionally.
Alfred be ROtnscnld, Of the British
delegation, announced that he would pro-
pose tomorrow 20 create an international
syndicate to purchase silver with the
view OF affecting an appreciation in the
value OF the metal.
The full text of the proposals laid be-
fore the conference by the American
commissioners is as follows: 1t Is gen
orally admitted that the very large de-
probation of silver. as compared with
gold in the last twenty years, and the
frequent and violent fluctuations OF sill
yer incidental thereto have been inJur-
ious to the commercial and other eco
nomc interests of all civilized countries,
and have caused and are causing serious
evils and inconveniences TO trade, the full
extent Of which cannot be measured IL
is the opinion OF the people Of the United
States with singular unanimity, that the
Of some fixity OF value
between gold and silver, and the tull use
of silver as ascoin metal upon ratio TO
gold, TO be fixed by agreement between
the great commercial nations OF the
world would very greatly promote the
Of all classes Of the people.
They are not unaware. however, OF the
fact that public opinion in some other
whose cooperation I'm a sue
cessful movement for such an agreement
is most desirable may not fully accord
with the views entertained I'm the United
States as to the practicability OF such an
agreement. They believe, however, that
the sentiment Of the larger use OF silver
as a money metal has been steadily grow
ing throughout the world. and that the
L. f,tto 10. boil n
conference to consider the
subject
The Government Of the United States.
v hile frankly disclosing its own views
as to the remedy 10 be supplied. has not
wished to impose any conditions that
would embarrass any government that
might be willing 10 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
purpose OF comforting upon what meas
ures. if any, can be taken 10 increase the
use Of silver as money In conformity OF
the purpose Of this conference the dele
gates Of the United states otter the fol-
lowing resolution:
Resolved. That in the opinion OF this |
Conference il is desirable that some meas
lres should be found for increasing the |
use OF silver in the currency system Of |
.he nations.
In presenting. as requested. a further |
programme TO be laid before the Confer |
nee. tne delegates Of the United States !
consider IL due to other nations repre- !
,ented that opportunity be afforded to
hem 10 consider plans for the enlarged |
lse OF silver as money other than the one
aV0rcd by the United States.
IL is our desire and expectation that the |
Powers here represented, or their dele.
yates, will submit proposals 10 this end. |
md we desire these 10 have precedence in |
he discussion. In addition 70 any plans
If the kind which may be presented. We
Iubmit for discussion the following, which
nave been suggested by recognized au-
horities. At the same time We submit Lhe
,cncral plan OF bimetallism which Is IA
'ored by the United States:
First The plan OF Mr.. Martz Levy,
roposed TO the Monetary Conference OF
sSl
Second. The plan of the late Adolph
iOetbeer.
Lastly, We present the plan proposed
y ourselves as delegates OF the United
tatCs: The re-establishment and main
cnance OF "A fixed parity between gold
nd silver and the continued use OF both
S coined money OF full debt paying
over would be productive OF important
enett TO the world. These ends will be
ccompished by the removal OF the legal
estrictions now existing and the coinage
I silver into full legal tender money
estoring by international agreement the |