The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-12-10
NO HOPE OF HARMONY
English Delegates Working for
DiscOrd at Brussels.
DEFEAT OF AMERICA FoREsEEN.
The Indian Currency Ouestion-EHect
Of the Depression in silver on
Colorado and Nevada.

zones Will Wlnu up the ueDaLe an the monetary
conference Tuesday with an important deciara-
ton. The concluding sitting Thursday will en-
deavor 10 crystalline the results of the confer
euce. Regret has been expressed in the past few
days that Rothschiids proposals were COM
pletely withdrawn, AZ IL was felt they would
have formed the basis OF temporary eompro-
mise If an understanding with regard 10 the
chief objection OF the Americans, the price ct
which silver should be purchased, could be ar
rived at A scheme on similar lines may yet be
adopted, in which event the conference will ad-
3ourn until May. Belgian Prime Minister Beer
nard emphat!caily denies the report that he has
declared the conference practically failure
the bi-metaii!st delegates to the international
monetary conference are discussing whether or
not they shall unite in signing a memorandum
On the obstruction offered by Great Britain TO
the dete -miuation OF the question before the
conference. III the conference resu mes it's ait
tings after prolonged adjournment, such a
protest, it is believed, will be likely 10 induce
the British government to present TO the con-
ference decided policy through its delegates
acting in unison thereon. The present British
delegation appears TO have been sent purposeiy
TO muddie the proceedings There is no cohes-
ion among the British representa- ives either as
TO principles or procedure. Each delegate ap-
pears to act individual agent,
except Sir c. Rivers Wilson aud Sir
Freemantle, deputy master Of the British mint,
the latter of whom used his political position TO
disclaim any responsibility for the proposals
presented by Rothschilds. Bertrsm Currie and
Sir William Houldsworth have not single idea
In common and have a strong mutual contempt
for each others views. Neither Gen. Strachy or
Dir Guilford Aoiesworth. the India delegates.
has official orders as to the course 70 take. 1t
has been made clear that the British govern
msnt has puFposely avoided giving any instruc-
tions tending to the common action OF its dele
gates upon any point whatever. II IL now obvi-
hat ia HuSfe poHt n sb..P
ference in coming to any general or special So
luton Of the silver question.
10 NDoS, Dec a-Letters from the British DEL
ogates 10 the Brussels conference announce
their return TO England next week. They will
oppose whatever request the American dele
gates may make with regard to prolonging the
adjournment representative OF the Asso-
ciated Press has authority from high source,
state official, that Delegates Sir Charles Riy-
ers Wilson and Sir C. Freemantle, deputy mas
ter of the British mint, do not expect the con-
ference 10 be resumed after the adjournment,
aud that Bertram Currie will decline to return
70 Brussels. In the meantime Baron HerschelIs
India currency committee, which adjourned
without date until the Brussels conference
should be ended, has resumed its sitting and is
taking the evidence of experts The members
OF the committee seem strongly in favor OF
the adoption of gold coinage in India and con-
current cessation OF the free coinage OF silver.
What chiefly prevents the early determination
OF this policy is the uncertainty prevailing
among members regarding the action OF the
American government, as the risk OF paralysis
of the Anglo-Indian trade would be increased
tenfold under repeal or suspension OF the sill
yer purchase act The committee has strong
reason to await Developments in the United
States. Currie is among the minority which
seems ready to risk everything by a prompt
declaration In favor of gold. A representative
OF the Associated Press has reason to state that,
apart from the protests OF Anglo-Indian bank
srs. leading single standard experts have adj
vised the COMMITTEES against such a radical
change in tie Indian currency. The Indian
government also would prefer that the commit
tee shall present such q report to parliament as
would be tantamount to a recommendation that
the existing system be left untouched
In response to question by the Indian Cur
rency Association as to whether it would take
measures TO protect the currency In the event OF
the failure Of the Brussels conference, the
Indian government today replied, declining to
give assurances on the subject The reply fur
sher states that the government can not recon-
mend that the secretary for India stop the
sale OF consol bills below the rates now current
Pending decision by Herschei!, the committee
OF tho India Currency Association thought to
steady the position by getting the Indian gov
eminent to promise not to sell consol bills below
Affixed rate. The government, however, pre-
fsrs to retain complete freedom of action.
Fears at the stock exchange of an immediate
collapse in silver values appear to have van
tshed. silver securities have been strengthened
during the last two days. Rupee paper. closing
yesterday y better, has again risen 81 today.
The predicted failure of the international mon
ctary conference will have no effect on the stock
exchange. Most of the securities held here are
gold obligations. and il is reasoned that the
more silver fails in value the more people will
invest in gold securities.
WAsHE NGToS CITY, Dec. a.-Treasury officials
attach no special Significance TO dispatches from
Denver with regard TO the panicky condition of
the silver mining interests of Colorado. The
fact that many small mines are being aban-
doned is taken to indicate simply that they are
played ont and can no longer be worked at a
profit 1t is held that the recent depreciation OF
silver In the London market aud the predicted
failure of the international conference to adyo-
cate q more liberal use of silver money can
have no direct bearing on the present situation
in Colorado, for the reason that silver has risen
in value within the past few days The treas
ury department is paying half q cent more than
on Wednesday. The treasury department today
purchased 10000 ounces OF silver at .Sa05 TO
$40 cents
Williams of Massachusetts introduced in
the house q bill for the discoatinuance of silver
purchases after February l. next. aud setting
aside & trust fund the money received by the
treasury for tie redemption OF national bank
notes, which. By the Sherman law OF 1890 was
made miscellaneous receipts.
DENVER, Dec. 3-Slver fell 10 90 today The
mines nave constantly been losing, and almost
every day repor; is received OF some property
large small, dischargtng men. There are a
hundred mines not being worked. many small
sud whose output cuts no great figure but the
aggregate OF persons thrown out Of employment
is large enough TO exercise a material influence
on the general condition OF trade. Colorado
wo0d be on the verge OF disaster were Il not that
its resources other than precious metals have
been developing rapidly during the last six or
eight years. Last year the agricultural products
exceeded in ys|ae its product OF gold. silver aud
lead. but large district IS yet wholly dependent
mining. The belief is widespread That If the
report OF the Brussels conference is decidedly
heavy drop in silver. aud Aali the mines now
being worked VIII he closed. With silver under
~ cents there are not likely TO he dozen purely
silver mines in operation. Banks and stores
are preparing to meet the emergency.
CARSON CITY. New. Dec a--Ehe most notable
evidence OF the depressed condition from the
low market price OF the white metal IS the con
slant Gepopulstion OF towns which a lew wears
ago produced many thoueanGs cG dollars Of gold
snd silver. Virginia City ST oas time contained
0o00 people and its annual output reached
millions. A; present the population Is s,0JA
Mines formerly paying magnificent dividends
are running behind. The quartz mills az Car.
son river, whea silver HHs at paS. ran IS ore
stamgs eacA with = capacity ~ three ,oas OF c-e
sday. Now there arc oUt saxiy-slx stamps in