Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-12-07
AT BRUSSELS.
Speech Of Sir wilson, an
English Delegate.
A WARNING FROM AMERICA.
Single Cold STANDARD The Oaly Thing
POt Great Britain.
nv. McCrsary of the Aunsricnn Dcie-
Cation Addresses ihe silver
Congrsss.

BRussrLs, Dec. 0.-Slr g. Rivera
Wilson, who said his Views were shared
By Cir Charles Frecrnantlc, the other
Bii.lsh delegate, said he believed all
tue governments who sent delegates
there recognized the presence OF a
great DANGER a
"rhe nots OF warning has reached
US from America, he said, "ani to say
tho least It Ii doubtful whether the
American government can continue
inicnnltoiy the glg@uiIc efforts fruit.
lcesly made for 10 many yOAra 20 main.
tain and raise the price OF silver. We
needing Inquire whether the policy
which has governed the currency
legislation OF the grent republic was
wise In conception, but II cannot bu
den.ei that II has not reallzei egpec.
tations and Is greatly the cause Of our
present position. In any cise tue sus.
pension OF American silver purchases
has become tho practical question OF
the day, and II It should occur might
lead TO the suspension OF coinage In
India. Certain high authorities believe
tue sudden cessation OF purchases OF
silver by America and the closing OF
Indis's minis would lead so,a heavy
fall Ia silver aud a disastrous disturb.
ance OF commerce. Others contend
that the fall already has been greatly
discounted ami tho removal OF the
present uncertainty would have no bad
effect.
"In view OF these divergent ideas as
TO what course should DO adopted, Sir
Charles and myself will frankly state
that We arc pure monomctallsis, and do
not admit that any other system than
the single gold standard is applicable ia
Great Britain.
ave will admit that the Rolhtchild
and Levi plan would not be- iucompa-
tible with our principles, but itN 10 not
enough that these schemes are deiend.
BILE In principle. Would either plan
have the least chance OF meeting with
the prepopderapce OF support that
would Justify US In recommending
that the British government consider
iR We think not. Another plan may,
however, be formulated ana approved
by the conference, and N 1t does not
conflict with our principles, Il will
receive consideration from the British
government"
SIR s. q. WORDSWORTH,
one OF tho delegates for India, combat.
tod the theory that Great Britain owed
her commercial superiority 10 the gold
standard. Great Britain IL saved from
serious danger only by the bimetalllsm
OF France. The whole question 10.
quired TO bs examined from the View
OF tho indus,rial as well as the none.
tary and financial interests.
SIR q. y. IIouLDswoRTn,
a British delegate, then presented his
plan. He proposed that a bimetallio
union should 10 formed by the ma.
tons willing TO enter into such agree.
ment, and the nations prtferrlng TO
retain the single gold standard should
undertake to have their minis receive
silver bullion Ia not less quantities than
the fixed minimum against receipts,
noting the quantity and value ut a
specified rate per ounce, to he deter.
mined by agreement, tho quantity
specified to be- delivered by weight TO
the bearer whenever demanded and
the receipts to circulate as money.
MIR. M'oREARY
OF the American delegation proceeded
TO point out the difficulties and perIls
OF the existing situatlon, and said that
whatever the cause, the fact remained.
and remedy was imprratively neces.
snry. He appreciated tho attention that
Rothschild had given the conference,
but could not support his plan. He
could not admit that II Is u proper
remedy for America to continue 10
purchase 1900, 900 ounces Of silver an.
nually nj a price not to exceed 100
cents on the dollar on condition thar
the European powers made purchases
yearly 10 tho amount OF e5 900, 900 for
i've years at prico not TO exceed AZ
pence per ounce, aud II silver should
rise above that price tho purchases
TO bo Immediately suspended. 'It
seems an Unequal Distributions said
he, "that we should be expected TO
purchase twice Us much silver M
Europe. Tho object OF the conference
should be, not 10 hx a price which
should keep silver below par, but 10
enlarge Its uso and restore IL TO n
parity with the value II had with gold
prior TO 1872"
McCfesry referred to the complaint
OF the British chambers OF comnsrce
quoted la the recent declarations of
Irish Bishop Walsh aud Mr.. Balfour.
and contonded that their salvation dc.
handed recognition, as 1t was better
remedy than that suggested by Roths-
child. The American delegates arc
ready to cooperate with other delegates
In n candid and determined effort TO
maintain the neutrality-suspicious. OF both
metals. Therefore, after submitting
the general plan OF blmetaIlism
favored by America, they also
submitted u plan favored by them.
selves. Ii was plain bust.
ness proposal, aud II adopted,
the necessary details could easily
be arranged. II announces no theory,
and proposes no untried system, IL
only opens u way to return to tho time. ,
tried and time-honored system under
which gold and silver were for many
years at par and equal Instruments in
exchange. Acts OF parliament, laws OF
Congress and cdicts OF monarohs had
-