Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-12-03
IHE ARGCS
SATURDAY. DECEMBER 8 1892
FINANCIAL SHARPS
Continue to Wrestle With the
Silver Question.
R0THsCHILDs PLAN Is LAID OUT"

R0THSCHILD'S PLAN Is LAID OUT"
The Latin Union Did 1t with It's Little
Objections-Another Proposal That De-
velops Much Disagreement-Tha of
NORTH Levy to Be Given a Turning Over
Ne1t-Report of the Committee to the
Observation-Disclosures Propounded
and MISUNDERSTANDING Yet Decided.
BRUSSELS, Dec. Sin their report to
the international monetary conference
yesterday the special committee ap-
pointed to consider the various plans de-
clared that the proposal Of Alfred de Roths-
child was extremely interesting and wor-
thy at some time Of serious attention. The
committee had decided, however, to espec-
alfy recommend to the conference the Mo
Kitz Levy plan for the withdrawal from cir
culation of all bank notes and gold coin
of the nominal value of 90 francs and the
issue of paper ard silver currency having
the same purchasing power as gold coin
below 90 francs 1t is understood that the
delegates from France, Italy, Belgium,
Sweden, Norway and Russia were opposed
TO the Rothschild plan.
Objected To by the Latin Union.
The delegates of the Latin union disap-
proved OF the plan on account of the pro.
position to make 49d the maximum pur-
chasing price Of silver and refused to be
eonciliated even when this figure was raised
to a higher one. The American delegates
are determined to persist in advocating
their plans of bimetallism and believe that
the conference will remain in session until
there has been an opportunity for thorough
discussion. Bertram Currie an English
delegate, is using all his influence to bring
the conference to an early conclusion ap-
parently in the interest Of monometallism
The Special Committees Report.
The report OF the special committee said
that before considering the plans of Roths-
child, Moritz Levy and Adolph Soetbeer
they had tried 10 clear their way by getting
answers from delegates to four vital ques-
tions. Tine first question had been:
"What measures will the silver producing
countries tate to restrict or regulate pro
ductionY" Henry W. Cannon had answered
that no artificial means OF regulating the
production OF silver existed in the United
Sites and legislation to that end was ex-
ceedingly improbable. Deputy Don Joaquin
Casasus had made u similar reply Tor
Mexico.
As to Prospects OF Production.
The second question had been: ~What
are the prospects regarding the future pro
duction of siiver!n Deputy Cisasas md
answered that in Mexico the produc-
sion had reached its maximum, the
lax having been reduced from 80
X ~ per cent. Cannon had an
swered that the silver production in the
United State. was confined 10 SIX states
and three territories. Tho extension Of
Rocky mou ntain railways had opened
large number OF mines whose total pro-
auction, although unknown, had reached
OF exceeded the highest previous average.
Policy Of tho United States
The third question had been: What In
the policy of the United States concerning
silver purchases Cannon had answered
that the Democratic and Republican par
ties and the bankers of New York had de-
elarod in favor OF a repeal Of the silver pur-
chase act of 1890 and this act in all probA-
bility would be repealed IL no international
agreement were made At the present con-
ference.
India's Policy Not At All Certain.
The fourth question had been: What il
che policy of India in the matter Of silver
coinage" Sir Guilford Wordsworth had
answered that as long az hope Of an inter
national agreement existed India would be
reluctant TO alter her present money sys-
tenn, but il the conference collapsed and
consequently the last chance Of united
action were lost India would feel obliged TO
act for herself. The adoption Of the single
gold standard bristlss with difficulties
which exoited the apprehension Of India.
mercantile world. yet she fslt assured that
her adoption Of gold monometallism would
be still more disastrous to the countries
already having the single gold stondard.
DISCUSSED De ROTHSCHiLD'S PLAN.
A Wide Divergence of Opinion Develop
Attack Unols Sann-
After di5pOsing of the four questions and
answers the ssmmittee had proceeded to
the discussion of the Rothschild plan for
obligatory International purchases Of sil-
ver. The opponents of this plan had con
tended that natural economic laws would
nsutralize the effects of such an artificial
mode of trying to appreciate silver. The
act necessitating government purchases Of
silver in the United States had failed
Ggnslly not only to raise the price but also
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