New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-07
THE OBSERVATION-DISCLOSURES
THE ROTIISCIELD PLAN WITHDRAWN FROM
CONSIDERATION.

DEIEsATES-ANOlHfK fNGIINl FlNN
Brussels Dec 6-The International Monetary
Conference resumed It's sitting today, and con-
tnued its discussion Of the report Of the committee
which examined into the r 'thschild proposals
After speech by Sir c. Rivers Wilson. member
Of the British delegation, NJ. dc Ro'hschild an
nounccd that he withdrew his scheme from the
further consideration Of tho Conference.
Sir c. Rivers Wilson, who said that his views
were entirely shared ny sir c. Fremantlc, Deputy
Master Of the British Mint, declared that the
British Government had found i; impossible TO
accept the original America invitation that the
Conference examine into tho possibility OF cs'aD-
fishing by international agreement fixed rela-
ton between the values Of gold and silver, as IL
might have caused Il misunderstanding By Imply
ing that the Government had some DOUBT as 10 inc
maintenance Of the existing monetary system oil
Great Britain. A. the same time. In" commercial
Interests Of Great Britain in India and her o'her
Eastern possessions where silver was alone uSc"'
did not allow the Government TO view WIN III
difference the drawbacks resulting nom 'nc IAN
and fluctuations in the price OF that metal -
had therefore accepted the invitation 10 'aNc
part in the Conference in modified iorh "o
instruction, 70 the British delegates allowed them
great freedom Of action, but ala NOT a''no''N'
them 10 bind their Government. by speech OF
vote, 10 any Particular O""i'N ~ ~
tinuing, the speaker said ~
Wa believe thst all the Governments who have semi
delegates here recognize the presence OF great u'"t
stherwse. our presence here Is not lus'n'u' ,ha
warning has reached us from America anu 10 10y ~,
least 4, Is doubtful whether the America" WV
"a, continue Indefinitely the gigantic Efforts which IL ha
frulesslv made for many years u malh"h ""o '
the price Of silver. We need not inquire "he'"' Wv
rolcy which governed the currency legislation VI Wv
srea, ronubllc was wisc conception; but u r7no "
bos realized expectations ana Is -''''
che cause OF or present ptitlol. In any Gaze '' u
pension OF American silver purchases mas O''o" P
tical question OF the doy. and ii occurred m'lh' ~ 70
the suspension OF coinage In India te't"h NIX" -"
charities bceve that tnc sudden cessation Of pur h's'S OF
silver nv ard the closing Of midas "nt- "0"u
lad % a heavy fall in silver and Il diSa'''o'S
a, commerce Others contend that the fu Is aHe"'y
greatly ouncd and that the removal OF the
n, pre.ent weighing on tac market would have qn'h4
Effect and bring stability In view oil t''s' "'''s "
ideas what course should be adopcd' pan "'sn'
aoubtcss be worked out which would lie more or less
continuation Of the Amc'ican experiment in The hop'
succeeding whore America failed or we may do NOTHING
ieavlnr the ratio between cold ami SILVER 20 >c'u' S'
Naturally our instruction. require US, beior" con-
,,uoinc ina, matter, uust 10 left rs 'h'Y nre. 10
examine with the create: plan subn tt>d fo' ne
nu,nosc OF extending monetary use Of silver In
order TO avoid q Misunderstanding dcsc 70 state V'''
81, Charles Frcnanc and nyse arr pure mo"omc a i>t
and do no1 admit other system than single eou
standard is applicable in Great Britain we nave t"
for studied only the nC>hschd ard Levy plans ana are
willing 10 afmI; ieat the Adoption OF e'et Or oo'h "ouG
not be Incompatible with our pr'ns Iies Eut IL Is ho'
enough that schemes arc c't'nsoic III Pr'"''Pr
W. osk ourselves whether either would have tn llN
chance Of meeting with prcpondcrance OF suPpo'' TIA"
would justly in recommending tn BRUSH "oN''''
% consider IL. Inc ioshsehlid plan has not receiver
.ucb .uppor. and this Is sufficient to dccd' us to ahsan
from discussion OF It's details watch W" know would DC
frutless The Levy proposal would Involve Vn' wan
urawal OF the reign. 50 would - eqnaF u
less TO discuss hat plan since Great Britain Il uh"nS
10 aueh err
conjunction with plan Offering advantages Whch al 'o
power. recognize Another plan may how Nc DC lof""
lated and approved by the Conference ara IL !, uoS nv
,onn,ct with the principles we have lod dowh IL WI"
receive serious consideration from the Bfush "oN'"
nept. 49,. H.. ,o,o
James b McCreary, Of the United STATES uc'c
kation. proceeded to point ont the diihcu'.i's
and pcrils of the existing situation lie salI ''f'
whatever was the cause, the fact rcInaln'' INA
n remedy was inpcr1tivoly needed. ii" approx
stcd the attention which Mr. De RothscAii' hao
given TO the important business OF IN" confer,
ence. but he coud not support the Roth'cnid
plan. lie continued:
cannot admit that It is just me proper r"'N
o., America 70 continue TO purchase 100000
ounces Of silver annually at Wce nov " ~
coed 100 coats on inc 'o'"' y" ~
that the European Powers make vary P'.''
70 the amount OF 600 ooO for Ave years at pe' h'
n exceed pence per ounce and that silver
should rise prse purchases b" inm'u'a''i!
suspended. cannot see why VIC In America sh"Uu
required pay 100 cents the dollar Necessary "hi
European Powers pay only scVcntythre cents on '
dollar ID an unequal distribution that VIC shor1
b expected purchase twice as much silver ~ iu'P
The object Of Conference shouc Be- no. = IN ril'e
which would Keep silver below par but to enlarge M'
use and restore parity with the value II had Win
gold prior 1873 when It wa frat cutaNHd Mr.. De
Rohschlds mat II IN. Conference Should dis
solve without definite result sNer would dep oc!nt" t.
frghtful extent. perhaps lcaTing 20 monetary panic
.pl@n le tdtefen 10
meet the grave H. pc1cts, and inadcquat'
remedy decreasing prices ard dstcss In s-icup'c
Mr. McCreary then referred TO the complaints
Of the British Chambers of Commerce, quoted
the reccrt declarations Of Archbishop Walsh
and Mr. Balf0ur, and contcnded that the stua-
ton demanded broader recognition and bet
ter remedy than that suggested by Mr.. De
Rothschild. The American delegates. he s1id,
were ready to cooperate with the other dele
gates in a cacdid and earnest effort TO maintain
the monetary functions of both metals There
fore, after submitting the general plan Of b.
metalism favored by America. they also submitted
the plan favored by themselves. II was q plain
business proposal, and if it adopted the
necessary details could he easily arranged II an
nounced no new theory, and proposed no M
tried system Ii only opened way 10 return
70 the tine-.ried and time hororcd system under
which cold and silver wore for many years al
par and werc equal Instruments in exchange
Acts of Parliament, laws Of Congress AMI ehc's
of morarchs had changed the relative value Of
the metals II an international agreement re-
stored silver to all its former privileges and
powcrs as money fair and Just ratio ii
parity OF yalnes If the metals would soon b@ cstao-
Ished. II should he understood that the Am"r-
can delegates had no power TO bind their coun-
try. They were authorized to consult the other
delegates for the purpose Of ciucda;ing and SOW
ing the important problem. and If solution
were agreed upon they were TO report the result
10 their Government and Congress would take
such action as would give such validity to thcif
work rs seemed proper.
In order that the situation in the United States
should be fully known Mr.. McCreary explained
Al ...si.iop nf Ahn different nnlific1l nnrc S and