The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1892-12-21
Doings Mt Brussels.

The Monetary Conference Committee,
at Brussels, reported on various schemes
which have been introduced to advance
it's object. The first plan, that of Tiet-
gen of Denmark, consisted in the crea-
tion OF an international silver currency
based on the variable mercantile value
OF metal in international intercourse,
but with unlimited paying power for the
respective countries coming it. Sir
William Houldsworth's plan proposed
the creation of an international silver
currency in the form of certificates of
deposits as legal tender in the states
which would issue them, but not re-
deemable in gold. The adoption OF these
certificates would meet the objections
raised against bimetallism on the
ground of the Inconvenience which re-
coinage would cause in case OF varia-
ton in value OF the metal gagged by q
gold standard. In order 10 attain this
end Sir William Houldsworth proposed
preliminary formation OF bimetallic
union, or, ii this could not be brought
about, at least free silver coinage in
one sufficiently strong country.
OF the third plan it was considered
that NJ. Allard, OF Belgium, who had
drawn it up on the lines Of the Window
bill, with an international character
added, wished to create an international
silver note not possessing the character
Of legal tender, but repayable to the
bearer in weight of silver variable ac-
cording to the fluctuations of the mar
ket, but always representing the nomi-
nal value expressed in gold. The
states issuing such notes would have to
bear in common any possible loss re-
sulting from repayments in case Of a
depreciation in silver.
The fourth plan, which M. de Foville,
the French delegate, desired 10 encour-
age, was the practice of derositing sill
yer bullion in minis and banks OF issue,
with certificates OF deposit and CONNER
cial warrants negotiable without le-
gal rate or guarantee OF value on the
part Of government. Raffaelovitch, Of
Bussia, proposed to give the certificates
an international character by establish
ing a system Of warrants enabling the
bearers thereof to obtain, on delivery of
their receipts, an equal quantity Of sill.
yer at all institutions which adhered to
the plan and having a stock Of silver at
disposal.
Representatives of the silver-produc-
ing countries objected to this proposal
as lying outside the program OF the con-
ference. the duty of which was to study
the means of extending the monetary
employment of silver.
The fifth plan, introduced by Sainc-
tellette, of Belgium, and supported by
Mr.. Monteflore, proposed 10 create re-
ceipts of deposits of gold and silver,
bearing such conditions that certain
quantity OF gold should be always ac-
companied by certain quantity Of
silver, the proportion of which should
be determined periodically by IAN inter-
national commission, which twin de-
posits would be effected in order to be
represented by certificates, the market
price of silver to be taken into account
in fixing these proportions, that an
international character might be given
to the certificates.
The report proceeds to reproduce the
arguments for and against these plans
and asked whether the marriage Of the
two metals would not be an artificial
one, and whether the conventional sys-
TEN would meet those requirements of
commerce, which desired, above all
things, the simplest possible solution Of
the problem. On the other hand, it is
urged that variations in the price Of sill
yer would be lessened, if not altogether
stopped, by the coexistence of the two
metals in deposits represented by GER
tiflcate5 and the relative fixity of value
OF the twin deposits.