Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-12-03
THE MORiTZ-LEyY PLAN.

Substitution of Silver Notes for Gold Under
Twenty Francs Value Favored at Brussels.
In the report to the international monetary
conference yesterday the special committee APP
pointed to consider various plans declared that
the proposal of Mr.. Alfred de Rothschild was
| extremely interesting and worthy at some
time of serious attention. he committee
had decided. however. to especially rec
| ommend to the conference the Moritz-
Levy plan Of the withdrawal from cir
cuIation Of all bank notes and gold
coins below the nominal value of 20 francs and
| the issue of a silver and paper currency having
the same purchasing power as gold coin below
20 francs 1t is understood that the delegates
from France. Ital.-, Belgium, Norway. Sweden
and Russia were opposed to the Rothschild
plan. The delegates of the Latin union dsap-
proved of the plan on account of the opposition
to make 43 pence the maximum purchase price
of silver. and refused to be conciliated even
when this figure raised to higher one.
The American delegates are determined to
persist in advocating their plans of bimetalism
and believe that the conference should remain
in session until there has been an opportunity
for thorough discussion.
Mr.. Bertram Currier. an English delegate, is
using all his influence to bring the conference
to an early conclusion, apparently in the inter-
est of monometalism.
The report Of the special committee said that
before considering the plans of Mr.. Rothschild,
Moritz-Levy and Zeetbeer they had tried to
clear the way by getting answers from delegates
to fonr vital questions.
The first question had been: "What measures
will the siver-producing countries take to re-
strict or regulate production?'
Henry W. Cannon had answered that no
artificial means of regulating the production of
silver existed in the United States and legisla-
ton to that end was exceedingly improbable.
Deputy Don Joaquin Casasus had made a
similar reply for Mexico.
The second question had been: '!What are the
prospects regarding the future production of
silver?"
Deputy Casasus had answered that in Mexico
the production had reached it's maximum the
tax having been reduced from 80 to ~ per
cent.
Mr.. Cannon had answered that the silver pro-
duction in the United States was confined to six
states and three territories. Tine extension Of
Rocky mountain railways had opened large
number of mines, whose total produc tion
although unknown, had reached or exceeded
the highest previous average.
The third question had been: What is the
policy of the United States concerning silver
purchases
Mr.. Cannon had answered that the democratic
and republican parties and the bankers Of New
York had declared in favor of a repeal of the
silver purchasing act of 1890. and this act in all
probability would be repealed if no interna-
tional agreement were made at the present con-
ference.
The fourth question had been: ''what is the
policy OF India in the matter of silver COIN
age?"
Sir Guilford Wordsworth had answered that
the only satisfactory solution Of the problem
as far as he could see would be international BIZ
metalism, in which India would gladly join the
Latin union and the United States.
A recommendation for the Rothschild plan
was defeated by vote Of seven to six. As re-
CARDS Levy's plan the committee took the
action already indicated, with the approval of n
large majority. Nevertheless, Sir C. Freemante,
delegate for Great Britain, declared that he
WAS unable to pledge England to withdraw her
smaller gold coins unless in connection with
some such plan as that proposed by Mr.. Roths-
child.
Bertrsm Currier, delegate for Great Britain,
created the first sensation of the conference
by making rather fierce attack on the United
States for their attitude toward the silver ques-
ton. He denounced the selfish policy of the
American government and warned the other
delegates against pulling the chestnuts out of
the IRE for the United States. America wished
to make a scapegoat of Europe. he said. in the
conference. He derided the attempt to raise
the price of silver in defiance OF natural laws
and by trivial artificial measures.
The conference adjourned after passing a
resolution to meet again on next Tuesday to
discuss Moritz-Levy's plan.