The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-11-10
A BIC TALK ON SILVER.
The International Monetary Confer
ence Nearly Ready to Proceed
to Business.
The Part That the United States
VIII Play In Thai
Body.
The Views Of the American Delegates ON
the Very Important Questions
There at Issue.

aels has Witnessed more exciting episodes
than the quiet gathering which is to be
termed the international monetary confer
ence. Great men from all nations will be
there. but IL concerns the United States
most of all, for the initial steps resulting in
the international delibe rations were taken
by this government, The move shelved a
vexed question just before a p esidential
campaign, and il will now be seen how in
ternational action will change the problem.
The American delegation consists OF e1-
Comptroller Henry W.. Cannon, Senator
William B. Allison, of Iowa; Senator John
p. Jones, Of Nevada; President Il. Benja-
min Andrews, of Brown university; Con
gresham MoCreary, of Kentucky, and Ell
ward O. Lsech, dir ector of the min.
1.-THE delegates" said Mr.. Cannon to me
before he left for Europe. Certainly repre-
sent all the views of Americans on the sub
iect OF coinage, and az it would be inadvls-
able to present all these sentiments We have
practically decided upon "a compromise. l
believe shat there Ia not enough gold TO en-
able us to do without silver, but am strongly
opposed to fee coinage. Senator Allison
takes a middle view on the question. Sen
ator Jones 10 confessedly q radical free
coinage man. DIR. Andrews has written an
interesting volume on 1.-THE Gold Dollar"
and his views are almost radically against
free silver. Director Leach believes that
there 10 too much silver IN the market, and
Conqressman McOreary is inclined to side
with Senator Jones, although by no means
ns radical on the subject. We have had no
conference as vet. but each has had a talk
with Secretary Foster, AMI our duties nave
been clearly defined. We have authority sim
ply to discuss and to propose, but no power
for final action. / doubt if any of the dele
gates from other countries will have pleni-
potentiary authority, Thu delibe' atoms
will in ali likelihood be conducted In the
English language. The American delegate
will atgue for bimetallism. and 1t 10
likely that our most bitter opponents
will be the English delegates. who. l IN
detstand, believe that we are making q
Rrievous error in purchasing 4.6OusoUO
ounces of silver a month. They think tnat
to stop coming this great mass OF silver ao!-
lars monthly would drive more bullion
abroad, and i'll that way favoraDly aneoI
the silver market.
mo proposition looking to all indorse-
ment Of free coinage of silver will y OBJ
nblv be submitted by any of the American
delegates. Senate Jones was in Washing
ton at the time ! conferred with the secre-
taries and l feel sure he will az ee on tne
'bimetallism' compromise WHOM VS. VAL
urge for adoption by the conference"
The delegates from Other countries as far
as announced are as follows
Great Britain-sir William II. Houlds-
worth, M. p. Tor Northwest Manchester;
Mr.. Bertram Curne, partner in me oank OF
Messrs. Glynn, Mills, Curne d Co.; Hon.
Sir Charles Freemantle, X. Q. b.. deputy
governor of the mint. :
Government of India-General Richard
Straohey. G. Y. S., formerly member of the
Indian council; Sir Guilford Il. Molesworth,
*. G. !. Il. J..
France-Mr. Tirard, former minister of
finance and president of council; Mr.. l.. de
Iirou. high official in the department. of
finance; Mr.. de Faville, high official IN the
department OF finance. d.
observation-disclosures. Cramer, Frey and
Iardy, minister at Paris.
Italy-Mr. Luiga Luzzatti, Mr.. Ramere
Semonelli and Mr.. Domenico Zeppi. all
members of the late parliament, Italy.
Sweden-Hon. Fersoll. ex-minister OF
finance.
Denmark-Mr. G. F. Tretgen.
Mr.. Cannon and Mr.. Leech are both Of
the opinion that one of the strongest plans
to be submitted to the conference will be
that Of DR.. A. Soetboer, a fnancier of note.
1t is much on the plan of the proposition
submitted by Maurice Levy, the Danish
delegate, to the International monetary
conference of 1881, that silver be substi-
tuted for gold in payments not exceeding
two pounds sterling, and that silver notes
be issued to obviate the necessity of carry
ing about SO much silver. DR.. Soetbeer
has modified the old proposition consider
ably and believes il will be certain to meet
with favor before the conference. Sum
married, his plan 10 as follows:
/. Recognition of some definite weight OF
fine gold as the universal foundation of the
measure OF value of the monetary system.
9. Maintenance of the existing gold none
tary systems of the various countries; cessa.
tion by them of the further coinage and
issue of gold coins under 5.SO65 grains OF
fine gold (~twenty franc piece); obligation
of such countries to retire their smaller
gold coins within the next ten years.
3. Uniform gold coinage charges of twe
per 1000.
4. Issue of gold certificates for gold de-
posted. by the principal minis or centra
banks. for amounts OF 800 grains of fn'
gold or multiples of that amount. Agree
ment on a uniform mode of assaying.
s. Retirement within the next ten yea
of all bank notes hitherto issued in thu
country and of other paper monev OF
value under h.8065 grains of fine gold, ant
refusal to issue any longer either banl
notes or other paper money under sail
value in gold.
G. Retirement of existing silver coins 0
h higher nominal value than 10 per cent o
the value of the lowest future standard golt
coin, within the next fifteen years, m
hereafter exclusive coinage of the prinoipa
coins in the value ratio of silver to gold 9
TO i. Coinage of the same only on accoun
of the government. Each country to re
tain it's freedom as to the coinage of small
divisional coins.
Z. Obligation of the government of eacl
country to receive into its public treasure
the principal silver coins bearing their owl
stamp in payment of NIL sums.
8. Obligation of private individuals an,
moneyed institutions to accept the princi
pal silver coins of the oountry in paymen
to an amount equal to tn es times the valu
of the lowest standard gold coin.
Q. Issue of silver certificates bv the prin'
clpal mints or central banks against the de
post OF the full value of the face thereof il
the principal silver coins in denomination
not lower than one-haif of the vnlue of tn
lowest standard gold coin, and also i'll mul
tiples of such amount. The iminsdiat
specie redemption of the silver certificate
in principal silver coins ON demand and a
all times at the places of issue.
10. No issue of credit notes payable Il
silver only.
II. Liberty of each state to recede fror
this monetary treaty after twelve months
notice.
II. Obligations OF the several govern
ments to inform each other NJ the close q
each calendar year of Nil laws, regulation
end proelamations issued respecting til
monetary system.
had a talk with u New York inancier o
Engiand's real attitude TO the confsrsnc.
were in many l~espeots like those OF Amer
L.. --N slaN thtA fnAk .latl lA..A -, N %