The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-12-03

..,a.. for the Substitution Of . silver
p,per Currency for Gold Coins and
,.,u >,te. Below the Value or Twenty
,.,A close Vote on the RothschiId
,,.. Tb. Attitude OF the United state.
,..,,rced by IN English Delegate.
..,.r,s Dec I'm their report to the In
ps,i,,ol Monetary Conference day the
Ie.i.i committee appointed to consider vari-
'pe .r,ns declared that the proposal Of Mr.
w. p,-sl A, Ko,l. .tlild was extremely interest
H,' "a worthy at some time OF serious atten-
@ The committee had decided. however.
"'",ommrlld especially 10 the Conference
N,,,,, e,y rlan FOR the withdrawal from
,,,,ian Of all bank notes and gold coins
cur, ,I,, noulnll valuc VI twenty francs. and
w. O! silver and paper currency hav-
Wv .,a sane purchasing power as gold coin
below twenty lanes
Ve .r, r,,or, went on t" say that before con-
.a, ,hr pans uf Mr.. Ho.hschild. Moritz
s,'nrl Aluluh Socthcer. the committee has
rl,ar thor way Ivy getting answers
wv" ,.,cra'a. - four vital questions. The
n'" .s,,,u Ind been: what measures will
wv r,,-.t,.,Iu ing countries take to restrict
'"' ,Ita rr,luct.unr Henry ". Cannon
..w.,rd tI,t no artificial means Of reCu-
',,.,t.rr,iGGt Oh NJ silver existed i'll the
I'D states. AND legislation to that end was
,ti,rl, Improbable Deputy Don Joaquin
ems Ind ma e n similar reply for Mexico.
rn, seroa! question had been: What are
.,',r.ospects regarding the future production
a,.',erl Deputy Casasus had answered that
=, v.,irn REPRODUCTION had reached its max
,'n, ,be,Jx having been reduced from thirty
,".eysr AN! one half per cent. Mr.. cannon
h,.I,r.vrrc! tia, the silver production in the
Iri,.ls,a,c, Was confined TO six States and
,nr,p, Territories. The extension OF Rocky
Nuur,,,nral,wnys had opened II large number
a ,o,r.. whose total production. although
urkrova M.i reached or exceeded the high
-s'rrp'ione average.
The hri question had been: What is the
,ui.y,, ,he United states concerning silver
purchases, Nt. Cannon had answered that
the democratic and Republican parties and
the .a.kers OF New York had declared in
hyor.o;arcrcal OF the silver purchase act OF
1Ap, ana this act in all probability would be
repealed If no international agreement wore
made NJ the present conference. .
III, fourth question mad been: What is tho
policy 81 India in tn. matter OF silver coinage?
sruI,ilinrd Mn!esworth had answered that rs
Iopgas hur- OF an International agreement
eN..,r,! India would be reluctant to alter her
collar : d. and Consequently the last chance Of
united actl N were lost. India, would ieei
obliged t, &c. ~ herself: Ihs auopi%n OF me
which excited the apprehensions OF midas
mercantile world. yet she felt assured that her
adoption OF gold monometal lism would be still
the single gold standard. The only Satisfnc.
tory solution Of the problem. as far as ne could
which India would gladly Join the Latin Union
aud the United States
After dlsposing OF the four questions and
answers the CONF ittee had proceeded to the
discussion Of the Rothsc hid plan for obliEa-
tory International purchases Of silver The
yi. &c 6nom!e AVS would neutrailize the ef-
ferts o, such an artificial mode Of trying to ar-
Ireclat. silver. The act necessltating GOV;
states had Jailed signally. not only to raise
the price tnt also to prevent its falling. More
without having had any effect in preventing
the depreciation OF silver
w. entirely one. sided, The Am erican e1-
rs'iment had been quite inconclusive: Senior
dtnstd statement Of Mr.. I!othschild,s plan in
the form q Pin prpyidingo u that nd Eapropean
United States. should, continue their present
purchases and that, Mexico and India should
quota OF purchase to be determined at some
future date. and each being free to effect tho
purchase in its own manner.
Renee Of opinion became apparent in the com
mt'eA on the question whether central in
purchase the silver in a lump for all the con-
iac,ug powers and then allot to each coun-
so v, s share indepe . Of ali others 10
decision was reached on this matter:
The COMMITTEES decided not to enter deeply
pan. but to conilne themselves to MoritZ
leyy,s proposals. A motion to recommend
tie Rothschild p Ian was defeated by vote OF
ksypn n .tN AS v,rIs n Ia
committee took the action already indicatei.
WITH the approval OF a large majority; Never.
theess. Sir {. Fremantle. delegate for Great
lr4in. tsclared that he was unable to pledge
England to withdraw her smaller gold coins
unless IN conpecti!n with some such plan as
that Proposed ny Mr.. Rothschiid.
After discussing the report and the general
Gnestiohs o. Principle involved IN the battle OF
. .e s1Hndards the delegates decided against
original American PROPOSALS. lest such dis
SfWssLon should Lead to the premature d!sso-
:ouTned after passing, resolution to meet
again on next Tuesday to discuss Moritz
During tho discussion to-day the Dutch
delegate, Eolsscynin. and the belgian dele
v va'~ AIII EXPRESSED strIHgly me,astlt
a c~ the aI hrs, Of Ii the dSn
ference oy making rather fierce attack on
,nt niteH states for their attitude toward tho
IoIl"y f tho American Government. and
sWarned TIC other delegates against Eull! ing
N'cci"SlNHlS phl oil me IRE Tor tho nltel
States. AMERICA wished TO make u scapegoat
g. Europe. he said in the present conference.
lie !"rideh the attempt to raise tho price OF
silver in defiance of natural laws and by
NNHi artificial measures.
1t IS understood that the delegates from
lance. Italy. Belgium, Norway. sweden. md
Russia were opposed to the Rothsrhild plan
ne q ~lega'es of tho Latin Union lieapprovel
he plan on account OF the proposition 10 max,
ren." lie maximum purchase uric. OF
slNer. land refused u be conciliatei ever
Mnen THIS ilGur" WAS raised 10 IA higher one
Ihr American delegates are determined Il
persist IN aGvo"ati NJ their plans OF hlmetall
ism. and believe that the conference shoul,
remain in session until there has been an on
ror'unlty for thorough discussion Bcrtran
lurrie is using al! his influence to bring III
conference TO an early conclusion, appareptI
IL the interest Of monometallisIn.
Tho plan OF Mori'z Levy. which met with
Show II favor to day, will probably come to
Very small eni. as the Latin Union is under
stood to oppose il. Italy is especially hostil
u u, rs her money circulation is heavil
stocked with small notes. This evening tn
aeIesates are at the Park Theatre at the inv
taSlon OF senator Levy.
Mehls strongly on the futility OF the Brussel
Sn,helehCe and says:
uNer and over again European countrie
CO.. teletl-1 TIE theory of bimetalism. Tn
=, Sao against grows stronger and strong
sTn,I !, and still the American delegates te
r, laurence THAI they can do nothing els