The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1892-12-08
VARIUUS PLANS.
Special Committees Report to
the Monetary Congress.
FOUR VITAL QUESTIONS.
Alfred De Rothschild's Proposals Worthy
Of Serious Attention,

Using HIS Influence in the Interest OF
Recommendation.
BRUSSELS, Dec. 3.--Tn their report TO
the international monetary conference
yesterday, the special committee ap-
pointed to consider various plans de-
clared that the proposal Of Mr.. Alfred
De RothsChld was extremely interest.
ing and worthy at some time of serious
attention. The committee had decided,
however, to especially recommend TO the
conference the MOrit2 Levy plan for the
withdrawal from circulation of all Dank
notes and gold coins below the nominal
value of 90 francs and the issue of
silver and paper currency having the
same purchasing power as gold coin be-
low 90 francs.
1t is understood that the delegates
from France, Italy, Belgium, Norway,
Sweden and Russia were opposed to the
RothsChild plan. The delegates of the
Latin union disapproved of the plan on
account of the proposition to make 43
pence the maximum purchase price of
silver and refused to be cOnciliated even
when this figure was raised to a higher
one. The American delegates are deter.
mined to persist in advocating their
plans of bi.metalIl,m and believe that
the conference should remain in session
until there has been uD opportunity for
thorough discussion.
Mr.. Bertram Currie, an English dele
gate, is using all his influence TO bring
the conference to an early conclusion,
apparently in the interest Of mono
metallism
The Special Committees Report.
The report Of the special committee
said that before considering the plans Of
Mr.. Rothschlld, MoritZ Levy and Adolph
Soetbeer they had tried to clear their
way by getting answers from delegates
TO four Vita questions. The first Ques.
tion had been: What measures will the
silver 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 legislation to that end
was exceedingly improbable. Deputy
Don Jaquin Casasus had made a similar
reply for Mexico. The second question
had been: What are the prospects re-
garding the future production Of silver?
Deputy Casasus had answered that in
Mexico the production had reached its
maximum, the tax having been reduced
from 80 to II per cent. Mr.. Cannon
had answered that the silver production
in the United States was confined to six
states and three territories. The ex.
tension of Rocky mountain railways
had opened a large number Of mines
whose total production, although I'M
known, had reached or exceeded the
H. II
question had been: What is the policy
of the United States concerning the
silver purchasesp
Mr.. Cannon had answered that the
Democrat and Republican parties and
the bankers of New York had declared
in favor of a repeal of the silver pur-
chase act Of 1890, and this act in all
probability would be repealed if no inter.
national agreement were made at the
present conference. The fourth Ques.
tion had been: What is the policy Of
India in the matter of silver coinage?
Sir Gulford MOleswOrth had answered
that as long rs hope Of an International
agreement existed India would he re,
luctant to alter her present money sys-
TEN, hnt If the conference collapsed and
consequently the last chance Of united
action were lost India would feel obliged
to act for herself. The adoption Of sin
gle gold standard bristled with difficult
ties which excited the apprGhensions of
India's mercantile world, yet she felt as.
sured that her adoption Of gold mono
metallsln would be still more disastrous
10 countries already having the single
gold standard The only satisfactory
solution of the problem, as far as he
could see, would be international bi-
metallism, in which India wOnId gladly
Join the Latin union and the United
States.
The Roth sch ild's Plan,
After disposing of the four questions
and answers the committee proceeded TO
the discussion of the ROthschld plan for
obligatory international purchases Of sill
yer. The opponents OF the plan had COLI
tended that natural economic laws
would neutralize the effects of such an
artificial mode of trying to appreciate
silver The act necessltating govern
ment purchases Of silver in the United
STATES had failed signally not only to
raise the price, but also TO prevent its
falling Moreover. in lSS0-0l Europe
had absorbed 800 600 600 francs worth of
silver for coinage without having had
any effect in preventing the depreciation
of silver.
To these objections Mr. Rothschild
had replied that the arguments of his
opponents were entirely unestded, The
American experiment had been quite
conclusive Senior Osma Spanish dele.
gate, then presented a condensed state.
ment of Mr. Rothschild's plan in the
form of bill providing that European
countries should purchase 30 coo 600
ounces of silver annually 90 the condi.
lion that the United States should con-
linue their present purchases and that
Mexico and India should maintain un-
limited coinage, each nations quota of
purchase to be determined at some
future date and each being free 10 effect
the purchase in its own manner.
At this point, the report states, a wide
divergence Of opinion became apparent
in the committee on the question
whether a central international Organi.
cation should be created to purchase the
silver in a lump for all contracting pow.
ers and then allOt TO each country its
share or each country should purchase
its own share independently of all 9TH
ers No decision was reported on this
matter. The committee decided not to
enter deeply into the complications Of
Adolph Soetbeer's plan, but to confne
themselves to MoritZ Levy's proposals
A motion 10 recommend the Rothschild
olan was defeated by a vote of 10 g.
AS regards Levy's plan the committee
took the action already indicated with
tho approval of a large majority. Never
theless Sir @. Eremanle, delegate from
Great Britain, declared that he was un-
nble 10 pledge England TO withdraw her
smaller gold coins unless in connection
with some Ruch nlan as that nronosad nv