Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-12-08
DEMONSTRATION OF SILVER.
Congressman McCresry Presents tn
Americap PositIon nj BRUSSELS.

American Position nj BRUSSELS.
After Mr. Rothschild had withdrawn his
scheme from tho further consideration OF the
International Monetary Conference, at Brussels,
Tuesday, the position OF the American delegates
was stated by Congressman James b hcCreary,
VINO proceeded to point out the dmcullles ana
perils OF the situation. lie said that Whatever
was the cause, the fact remained that remedy
WAS imperatively needed. He appreciated the
attention which Mr.. Rothschild had given TO the
important business OF the conference, ous ne
could not support the Rothschlld plan.
Tho American delegates, he said, we're ready
10 cooperate with tho other delegates In a can
did and earnest effort 10 maintain the monetary
functions Of both metals. Therefore, after SUD-
mittlng the general plan Of Dimstallism favored
by America, they also submitted the plan favor
ell by themselves. It was plain business pro
pOsal and II 10 were adopted the necessary de-
tails could be easily arranged.
In order that the situation IN the united States
should be fully known hr. McCreary explained
the position Of the different political par
ties, and added that he believed that the
people in general, without regard TO po-
ltical afiliauon, indOrsed the American plan.
Referring 20 the silyer-bullion law, he said that
the law was not entirely satisfactory 10 either
party, and in support OF bis statement ne quoted
from the platforms adopted by the hinneapous
and Chicago conventions. For himself, he be-
leVed that the silver at Of 1890 would be re-
pesled. ~ not at the present session Of Congress,
certainly at the next.
z,
the best aim Of the conference 10 be the general
remonet etization OF silver and the unrestricted
coinage OF gold and silver into money Of debt
paying power; with permanent international
ratio OF 1516 or lG TO !, and prefer the latter
1nis in my opinion. IL a system that would give
unity and stability 10 the value Of money, and
would furnish the best remedy for the existing
evils from which all civilized nations are suffer-
ing"
Mr. de Rothschild followed Mr.. McCreary.
He said that as America would not support his
proposals he considered that II would be most
In accor lance with tho respect due the confer
ence 10 withdraw them. He thanked the con-
ference and the committee fO- the sympatnetc
reception they had accorded his proposals..
Sir William HouldsHorth, ono Of tho British
delegates, then presented his plan He said tnat
It was not new one, a. II has been suggested 10
earlier monetary conferences. lie assumed
that France, the Latin Union, and America
would support such plan, and II only re-
mained 90 be seen TO what extent the
god-standard countries would support II. He
proposed that a bimethliic union should be
formed by nations willing 20 enter into
such an agreement, and that nations
preterrng to retain a single gold stand
ard should undertake to establish the
following or a similar arrangement-vlz.'
tnat their mints should receive silver bullion IN
not less q1aniity than fXcd minimum asaiuet
receipts, noting the quantity and value at O,
specified rate per ounce, 70 be determined by
international agreement, the quantity so specl-
fed 10 bo delivered by weight 10 bearer when
ever demanded, and In no other manner or
on any other account whatsoever the re-
ceipts 20 circulate az money. He said that ho
believed that tho receipts would circulate AT
par and be used as bank reserves, and that 20
long az the mints Of the bmetall!c union were
open % tho free coinage Os silver the ratio
would be maintained between gold and silver
coin in toe union and between gold and SILVER
receipts In other countries.
The conference adjourned until Tomorrow.