St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-09
One Of the Belgian Delegates
Presents q Scheme to
the Conference,
Providing for Purchases Of
Silver, Against Which Notes
Will Be Issued.
Prof. Andrews Says His Coun-
try Will Not Give UP
Her Gold.
When the Conference Ad-
.iourns It Will Be Until
Spring.

BRUSSELS, Dec. S.-When the inter
national monetary conference adJournS
at the end of next week it will probably
leave the respective governments rep
resented to decide whether or not it
shall reassemble in January. The Am
erican and other bimetallic delegates
will try to obtain from the conference
recommendation to all the governments
to allow from year to eighteen months
! to elapse before taking any active meas
ures toward changing the present cur
rency policy. The advocates of this
recommendation have in view possible
improvement to the general monetary
position. They also hope much from
the growth of bimetallism as political
force in British politics. The proceed
ings yesterday at the British agrlcult-
ural conference in London struck some
of the delegates like revelation.
Immediately after the opening OF the
body today NJ. Allard, one OF the Belgi-
an delegates, submitted plan for an
international agreement for the pur-
chase under common account or
stocks of silver. against which treasury
notes will be issued by the contracting
states, none of which will be obliged to
coin the silver thus purchased or codlfy
its existing currency legislation. Inc
plan also proposes that these notes shall
have International legislation.
M. Raffolovitch, one of the Russian
delegates, spoke briefly regarding the
MoritZ Levi plan. He declared that ne
did not believe that, under
The Present Conditions,
any international agreement to regu-
late the relations between gold and sill
yer was possible. The general discus
sion was then resumed.
In reply to an invitation extended to
him by the conference, Prof. Andrews
made an address, in which he said ne
hoped the idea that America was bent
only upon increasing her national
wealth, and that she was merely acting
as the Servile creature OF mine owners
should forever be dismissed as being
equally as absurd as the idea that Amer
lean interest was mainly due to the dis
tress affecting the American monetary
system. Continuing MIR. Andrews said:
1--WE have not and are not at present
likely to nave dollar in silver beyond
our needs in the United States. We
have no idea of soliciting any favor
from the people of Europe. What we
desire is as much to EnrOpe's interests
as ours. We wish to multiply our trade
with the world, to do yaster business
with China and Japan, and Central and
South America; at the same time with
Europe. This will never be successfully
accomplished so long as two great
groups of nations continue to drift
apart. The evils of fiuctuating eX-
change which beset England in her
commerce with India we also experience
in our trading with our nearest neigh
bors. But we are determined not to &C
complish desirable end at the terrible
cost of opening similar chasm between
ourselves and the nations of Europe:
We will part company with Asia and
South America rather than with you.
We will not forever continue alone the
task of sustaining
sssu The Price of silver.
If Europe is not enough interested In
the matter to cooperate with us, we Will
soon decrease our annual purchases OF
silver and begin to provide by recruit
ing our currency by issues or paper.
The next congress is nearly certain to
omen procedure In that direction. We
will not give up our gold. The time
honored monetary policy of the United
States will never be changed with Mr..
Cieyeland's consent.
Referring to the tariff, Prof. Andrews
said it was obvious that there was no
surer way to lower the American tariff
than for Europe and the United States
to agree upon policy favorable to sill
yer as money. That alone, he declared,
would abate the IncesSant conflict for
gold and leave the United States free to
effect a generous reduction in the Gus
toms tariff. In conclusion, Prof. An
Grew said he thought that some of the
plans proposed TO the conference were
feasible, and if the delegates continued
their deliberations with due sense OF
their responsibility, the conference.
would not fail to devise measure OF
relief.
The best authorities state that when
the conference adjournS next week it
will be until the spring. A careful can
yass of the delegates shows that ma
jority OF them favor this course. The
debate on the various bi-metalllc pro-
posals will conclude on Tuesday.
Gold Standard in India.
LONDON, Dec. Sat meeting of the
Institute OF Bankers held here. Lesley
z. Robyn prOpounded scheme for the
introduction of the gold standard into
India without reducing the silver cur
rency or adding largely to the gold
reserve already held. AS the scheme
involves the empowering OF the govern
ment to reduce the redundant silver
coinage by purchase, II necessary, it
was adversely criticised. There is a
feeling here against any move Deing
made until it is known what America IS
going to do. An immense number or
orders to sell rupee paper nave been
received here, mainly from the CONT
nent.
The feeling entertained by London
bankers toward the proposed adoption
of the gold standard i'll India Is less
hostile. The Eastern bankers seem to
think that 1t would not materially dls-
turb trade, but would rather be an ad-
dition to its permanent strength. as they
are transferring their balances from
China and Japan to India. AdVices
from Melbourne show that sharp de-
cline occurred there in prices OF silver
mine shares. Right Hon. Henry Chap
lin intends to make motion III the
house of commons declaring IN FAVOR OF
bi-metalliSm.
ID Propose an Amendment,
New YORK, Dec. S.-The following
cablegram was sent to Senator Jones III
Brussels today concerning the dolngs OF
the international monetary conference,
by Henry Clews:
nAmend Rothschild proposal to 81
100000 in place of 30,000,0OO ounces,
thereby making Europe'S obligations
same as ours. Remove limit OF price.
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