The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-30
Evidence that Europeans Are Aroused
to the Necessity of Doing Something,
Though De Rothschild's Plan Is Net Likelyts
Be Adopted, Treasury officials and Bank
en Pleased at the Interest Taken. :
Gen. Newton's Connection with the Pan.
anna Railway Gets Him in Trouble.
Sharp Letter from Secretary Of War Elkins-
American Interests Not Affected. Accord
ing to Director Of the Company.
DE RoTHsCHILD's PROPOSALS.

DE ROTHsCHILD's PROPOSALS.
Probably Based on Information Picked On
at Neutrality-suspicious. OF Officials.
Special 60 the Indianapolis Journal
WASHINGTON, Nov. 29.-Alfred De Roth.
schild's proposition to the international
monetary conference at Brussels has re-
called the fact that he and other WELL
known members of the great banking
house of De Rothschild have been frequent
visitors to Washington. It il thought,
moreover, that some of these visits have
given the Rothschilds an insight into the
course of financial legislation In this coun-
try. which has had much to do with the
present proposition. Only two months ago
Henry De Rothschild. with his valet. cour-
ier and q small retinue of attendants, was
ct one of the uptown hotels for several
days. He is the Paris member of
the Rothschild house. At the time
of his visit Secretary Foster was
making final arrangements for the inter-
national monetary conference. Last spring
another member of the family-and 1T is
thought to have been the one who Is now
prominent in the Brussels conference-was
in Washington for some days. It happened
to be at time when the House was In q
turmoil over the Bland silver bill. and ME-.
De Rothschild showed much interest In the
controversy. In an interview he stated
that his interest was not so much due to
what Mr.. Bland might or might not do. bus
1t was from curiosity over the excitement
which could be aroused in America on q
financial question which Europe knew
nothing about. Mr. De Rothschild treated
the congressional turmoil very lightly.
From his expressions at that time il is
judged that he has changed his mind con.
siderably as to the Importance of concerted
action among the great financial powers.
Several times prIor TO last spring various
members of the Rothschild family have
been here. although their visits have al
ways been as sight-seers rather than finan-
ciers.
At the Treasury Department. to-day.
there was much satisfaction over the news
from Brussels. 1t has been feared that the
entire conference wouldl collapse without
any thing further than the expression of
the wishes of the American delegates The
proposition of De ROthschild is, at least an
assurance that the leading financiers of
Europe are treating the conference with
seriousness. 1t Is not expected here that
any definite results will be secured. as it is
pointed out that an agreement would have
to be submitted to the various powers, and
that many months, and probably years.
would intervene before the agreement
cOuld secure the sanction of the countries
represented. but 1t is expected that steps
will be begun which will finally lead TO an
international union.
Representative Bland, of Missouri, the
chairman of the House committee on coin
age. is earnest in his denunciation of the
plan hich NJ. De Rothschild has present.
an m a m nm at n rU linn
says that to establish the value of silver
at 43 pence per ounce. as NJ. De Rothschild
proposes. would demonetize about one
third of the silver currency of the world.
and would be direct contraction OF the
currency. He does not see how the Amer.
loan commissioners can agree to the propo-
sition, but even if they did he believes
Congress would never ratify the agree
ment.
Views Of New York Bankers.
Special 10 the Indianapolis Journal
NEW YORK, Nov. 2e.-Your correspondents
to-day visited number of prominent bank
ers in this city. and asked them their viewa
on the proposition of Mr.. Alfred De Roth.
schild, of the English delegation to the
monetary conference. Vice president Por.
ter. of the Chase National Bank, SAID: II
think the plan presented by M. De Roth
schIld in the nature of q simple stand-off.
1t Is an encouraging sign. however. that
England Is disposed to do anything at all.
/ think that under the present law and
present general conditions the Sh erman law
10 constant menace TO our national finance.
But it would be better to continue ths
Sherman law with the coop GRAFTON of Eu-
rope. as proposed by Mr.. De Rothschild, for
q whIlethRn to repeal that law and 60 back
to the old Bland act.U
President John A. Stewart, of the United
States Trust Company, said: Il have not
looked into the plan very deeply, but /
should say that my impressions OF it IS
that is q ridiculous measure. lt would ac-
complish nothing more than adding TO
fictitious demand for silver. The only way
ont of the situation Is TO let silver reach its
natural level, and then let the nations get
together and agree on ratio TO continue,
say. ten years"
Sir. Henry Clews, the weIl-known bank.
er of Wall street. had this To say: In
purchasing the t., 100000 of silver annual.
ly, Europe will meet US half way. and, per.
haps, will then find q way to q still moro
extended use of the white metal. don't
think that Mr.. De Rothschild submitted
his plan without comforting with the
while the latter country is not bound TO
any plan brought forward, / suspect
that the RotbschiId plan is more or less Of
an official nature. Should Europe pur.
C1ase OF silver annually IL wOulQ
do much to relieve the prejudice and oppo-
elti0n TO the metal In this country. The
European powers most certainly sboald
come TO the relief of the silver market az
the present time They have taken tre-
mendous quan ntities of gold from Us. and wa
have not objected. They have sent bach
all the silver they could to our already
overcrowded market. and we have taken
no decisive steps TO prevent their accumu-
lating the yellow metal We have enough
gold left, but If Europe continues to drain
this life blood and refuses to meet us half
way now or assist US, it will be time for rs
to show her what we can do. We have the
power TO get our gold back. We can force
her to disgorge and send back 81 in
gold for every 81 she takes out
We have orr high credit and un-
equaled resources. and can ruin any
Lne of the great powers-England. Ger.
many. France or Aus;ria-if they continue
this greedy game OF getting and boarding
all the gold in sight"
President j. Edward Simmons, of the
Fourth National Bank said: 81 would not
like TO express u final opinion on the propo-
sition until acquainted with all the details
involved In the plan proposed by Mr.. De
Rothscbild. When these are known. IL
may be that the proposal will be admlssa-
BILE, far as we are concerned. but, look
ing at lt as II is now published. the nero
suggested purchases. i am led TO believe
that the scheme is not a good one for the
United States. For the first reason. that
while all the European powers combined
would buy only t5,0C0.0 000 of silver. or
about 81. 600 900 onnces we, a single nation,
would be bound TO buy twice as much each
rA-a l..~