The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-12-06
LOOKS LIKE FAILURE.
The Monetary Conference Likely
to do Nothing.
HOSTILE FEELING OF THE BRITISH
Discussion wiI Occur Today as TO Whether
RothschiIds Plan or That of the Ameri
Gun Delegates Shall Be Considered.

BRUSSELS, Dec. 5.-When the interna-
tional monetary conference resumes sit
tings tomorrow the first matter requiring
settlement will be whether the report Of
the committee appointed to consider the
Rothschild plan will be further debated OF
the proposals of the American delegates
proceeded with. Rothschild, Sir G. FIRE.
mantle and Sir William Houldsworth,
British delegates, desire some expression
of opinion regarding the Rothschild plan
from the full conference. Bertrsm Currie,
another British delegate, aims to bring tho
conference to speedy close, and, In COM
mon with some other delegates who are re-
signed to see the conference result in q
failure, would accelerate consideration of
the American resolutions, as fastening a
winding up Of the meeting. t'remantle,
with view to resumption of debate on
the Rothschild plan, has amended his
declaration declining to pledge the English
government to Withdraw its half sovereign
pieces in favor of silver by adding the
words, except concurrently with the
adoption of the Rothschila plan or some
other proposal having the same eompensa-
tory value"
Fremantle, who is deputy master of the
British mint has never been known TO
take independent ac1ion or personal initis-
tive. II is therefore taken for granted that
he will be the mouthpiece Of the British
government in announcing assent to the
abolition of the hall sovereign. If, despite
the adverse report of the committee, the
full conference adopts the Rothschild plan,
number OF delegates will want the con-
ference to close or adjourn Dec. 10 at the
latest. If adjournment is taken it is doubt
full if there will be full attendance when
the sittings are resumed in January.
Currie has sent TO the Times verbatim
report of the speech he made before the
conference on Friday. This report is
similar to the heretofore published &C
counts of the speech only in its advocacy
of g gold standard. Currie denies the
evils impending to the world from dlsuse
of the silver standard. The costly silver
experiments of the United States, he says,
are never likely to find imitat0rs. The
conference met TO endeavor to raise the
price of commodities, an OBJECT entirely op-
posed to the economic doctrines accepted
in Great Britain. Cheap goods, not dear,
goods in plenty, not scarcity, has always
been held to be the conditions profitable TO
trade. That the general fall in prices has
been brought about by scarcity of gold
has never been proved. Such theories are
at variance with the facts within our
knowledge. Currie has the strongest per-
sonslity among the British delegates and
win not bulge an inch towards compro-
mise.
The possibility of the repeal of the
Sherman act was much discussed among
members of the conference today. The
opinion was thatit would be serious blow
unless accompanied by some other special
| legislation in support of silver.
The committee will today examine into
the proposal Of c. F. Teitjon, the Danish
delegate. The proposal provides that an
| International union be formed to fix the
relative value of gold and silver On the
basis of the average price Of silver in Lon
don during the formation of the union.
! Members of the union will be permitted
to coin an unlimited amount OF silver
coin to the value Of 81, which will have I'M
limited debt paying power in the country
whore they are eoiued. The scheme pro-
vides for the appointment OF committee
TO watch the silver market. If the value OF
| that metal falls per cent. below the value
fixed The committee will have power to de-
eide whether a fresh issue Of silver coin is
necessary. Every bank Of issue will have
| the right to have portion of its metallic
reserve in the silver coin of the union
with proviso, that on six months' notice
they can demand that silver coins held in
the banks of the treasury be repaid i'll gold
by the country from whence the coins came.