The Meeker herald. [volume] (Meeker, Colo.) 1885-current, 1892-12-03
RorHscnltD's PROPOSALS
He Submits to the Monetary Conference
Plan for Purchasing silver.

He Submits to tho Monetary Conference
Plan for Purchasing silver.
When the monetary conference met again
At Brussels on the osth, Baron Alfred dc
Rothschild on behalf Of the English dele
gates submitted plan to extend the use or
silver.
Mr.. Rothschild's proposals covered eleven
printed pages Summed up, they arc that
America should continue her present pur-
chases of silver and the European powers
should continue to buy an amount equal to
Is, OOO, 600 sterling year for Eve years At 43
pence II silver should rise above that price
the purchases are to be Immediately sus-
pended.
In discussing his plan NJ. De Rothschiid
says:
/ feel that gold standard in England is
the only possible one, and IL we CONSIDER ina.
her whole commerce, and great part OF that
OF other countries, is carried on bills OF ex-
change on London, which are naturally pay
able In gold, 1t must be admitted thAt tne
world generally transacts business on goiu
basis, and that double standard, with the
exception of very modified form, does not
exist In these countries protesting TO pay In
either metal Whatever international agree
ment should be made, and whatever ratio
should be established, gold alone viii be
chosen as the fayorite medium OF set
Ting large remittances. 1t would be impos-
sible TO remit large sums of silver abroad
owing TO the bulk. Gold would be sent even
II II lad to be bought at premium.
Apart from other considerations. 1t seems
TO be that II universal arrangement OF the cur
.ncy question Is impossible. As the wealth
and source. of expenditures In no two coun-
tries are alike, 1t would be impossible TO carry
vu III. trade Of the world on sound, stable
basis, II the debtor were allowed the option OF
paying In whichever currency suited him.
Although hope that have shown that bi-
metallism is impossible in England, the qucs-
ton arises whether or not 1t Is possible to ex-
tend the use of silver, thereby stopping a
further fall and Its disastrous consequences,
whereof ii is impossible TO foresee. sherc-
submit the proposal not as an absolute, last
ing remedy, but as palliation.
The proposals were referred TO COM
mittce.
The Portuguese delegate. have been In
structed by their government to act in har-
mony with the British representatives.
1t is stated that Mr.. De Rothschild proposes
to raise the legal tender of silver in England
from 60 To 60 Great Importance attaches TO
this proposal, as 1t means that English 70
notes will be payable in silver
The Danish delegate, who is a mouometsl-
list, will propose the coinage of silver 5-franc'
4-shilling or dollar pieces, rated TO gold ac-
cordIng to the price of silver In the year pre-
yious to the adoption OF an international
agreement with a seignorage Of 10 per cent,
He will also propose the appointment OF h
permanent international commission To fix the
Initial prices.
Should the price of silver fall to per cent
below the coinage ratio the commission Will
have authority to FIX new ratio and fix the
coinage OF a new ratio and order the RECON-
age Of the pieces. These coins will be legal
tender international bank stock, except a.
they are reserved against notes and have the
right TO demand gold In exchange for them
at the time from the government issuing the
particular coin held.
Thi. scheme was the subjcc, of lively com
municatious between the delegate. but it will
not be formally proposed until the Ro,h.child
proposals are debated.
The American delegates authorize the As
ISOLATED Press representatives to state that
they are thoroughly satisfied with the turn OF
events, and consider that Rothschild's plan
and to-day's action OF the conference amply
Justify the convoking OF the conference.