New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-01
SILVER COINAGE PLANS.
TIE MONETARY CONFERENCE COMMITTEE
BEGINS WORK.
ITS PROCEEDINGS TO BE KEPT PRIVATE UNTIL
DEFINITE CONCLUSION Is REAcHED-THE
DANISH DELEGATE TO SUBMIT
A PROPOSAL


A PROPOSAL.
Brussels, Nov. 3o.-The international None
tary Conference did not meet to-day. The next
sitting viii be on Friday, when it is expected
that the committee considering Mr. de
Rothschild's proposals will make report.
The committee OF twelve sat yesterday for
eight hours with only short interval for lunch
con The members have arranged to give their
exclusive attention to the work Of the commit
tee so as to be able to present an exhaustive
report to the Conference Several experts. who
are not delegates 70 the Conference. offered to
give evidence on the production of the precious
metals and other points relating to the delio-
crations. but the committee declined to hear
witne; ses on any side of the questions 1t Is
understood that the committee take as nearest
approaching accuracy the statistics prepared by
Ottoman IIaupt. especially for the use of the
Conference, giving estimates compiled from the
latest data Of the monetary stocks OF the worlu
and the annual production and consumption OF
gold and silver.
Senator Jones' one Of the American delegates
has prepared special statement OF the consump-
ton and production of silver.
The committee has consented to request the
Danish delezate c. F. Teitgen. 10 submit MS
nlan as an addition to the De Ro,hschlld plah'
Mr. Teitacn is monomctallist. lie proposes
the coinage OF silver Gveranc, fourshiIiing' VI
dollar pieces rated to gold according 10 'ne
price of silver in the year previous 10 'he auoP
ton Of an international agreement, with eeien-
iorooe Of 10 Der cent lie also proposes the
appointmcnt Of permanent lnternanohai 'o'h-
mission TO fix the initial price Should the prlcc
81 silver fall 10 2 per cent, below the coin
an. ratio the Commission will have authority
,o Ax a new ratio and order the recolhag" CT
,bo nieces These coins will be legal Veh"e'
Internationally. banks TO keep them as re-
sor,,o AGAINST notes ard 70 have the HSht "
demand cold ia exchange for them at any ''ue
fro,, the government issuing the particular coin
held. ,, .ho.
Tho members OF the committee declare 'ha'
tbeir proceedings must be kept cohpIe,eS piF
va,c until definite decisions are attalho"' in''
,vir rot communicate TO the deleRa'cs NV 10
,o,.drg IN the committee the progress ohey u'e
making In the discussion ....
T. "a ,eg,rdcd A. certain that the committee
having in charge the Rothschd silver propos"''
,an recommend tho adoption OF Mt ue ''o'n9
.Lrl,s rlan with some important modlhca'ioN''
,,clrdino a suggestion that the limit TOT 'hc p',
chase of silver be reduced % three Year. ~ !"
urdcrs,ood that the recommendation VII. no' ~
rr.ecnted ~ the unanimous report oi O' V',"
,ni,t., hnt that the views Of the minority Will w
explicitly stItee .o,.o
An animated discussion Will. II II eApeo.'u "'N. w
H., in ,bo Couferrncc Oh Friday. lhe American
'ta1o,,,os although they invite discussion oil 'iie
p,hschild and other plans. intend TO naNe ,rfii
of international bmetallism thoroughly
,oi,.sod Tie majority Of the deegatcs sem W
,-L, ,o be inclined 80 adopt TIE kot tlso'n I'au ,
,,noie.i bv Suggestions fron the ooetoecr anu -
plans . ,to Monetary Conference are
lie iuter,,tcd in Archbishop Malsh HccLt"iih tioh
80 in favor OF bimciallisn, the adopU3n pi t "n
'' H. ,.catcs ~ necessary to saYc the lrlsh b'hano
so,, min sir e.. l.. Mol"-worth, Wlo - y a.
irisb laullord, said 70 an Assoc.ated frcS' iep''
sentative this evening .i,h. myself
Archbishop Walsh s perfectly rlgit N.Y. III
h,,,,. contendcd for many years tIau VI. - :
Ginculty is greatly due To the appr"i'tl'00 10 10" % W
Ia tE. value of which has increased oo pr
cont since ls7l The Irish farmers contract 10
nov ,Lrir rent in gold; but now, owing To t'r
rncrcasad purchasing power OF IN" sovereign tl'S
,.t r,i.n more produce IN order 10 earn th' rem
,''n.v Landlords also suffer. rs mortgaG'S a''i
,r iii-o must be- satisfied with the apprccat "a
s,,r6ard The substantial reductions maze III
rcnts in the last generation have been maze uau
., moot the difficulty. because tho reductions la'
not kept pace with the appreciation ol SoIu
Tho odoption Of bimetallc monetary stahdlru
would lend 70 a slizht rise in prices ana a s''eIt
c,u in tlc rates OF interest, which WOMB r9uiI
in increased commercial activity throughout '"c
world