The record-union., 1892-12-03
speclal 70 the REcoRp-UNIou.

Special to the REcoRD-UNIoN
BRUSSELS, Dec. 2.-The scheme for the
solution of the monetary problem sub
mitted to the International Monetary
Conference by Rothschild was rejected
by the committee to which it was referred
on the votes of the delegates from France,
Italy, Belgium, Norway, Sweden and
Russia. The first objection was made to
the plan from the delegates ofinations be-
longing to the Latin Union. They dis
approved of the proposal that 43d be fixed
as the maximum purchase price of silver.
This figure was consequently withdrawn
III favor of higher one, but this conces-
sion failed to reconcile the opposition.
report was submitted this afternoon
by Raftalovitch of Russia, Chairman of
the committee. 1t declares the Roths-
child proposals Of great interest and
worthy of full discussion, but the COM
mlttee, by vote Off to 6, declined to rec
ommend its adoption. The committee
declared in favor of that portion of Mon
tefiore Lewis plan witch refers to the
gradual withdrawal of all gold coins un-
der the value of 70 francs; also all bank
notes below certain value. The report
concludes with a statement of the Ameri-
can, Mexican and Indian delegates with
reference TO the future action of their
countries. This statement is not yet OBJ
tainable.
The American delegates regard the DO
sition cheertully. The way is now
cleared for full discussion of their BIZ
metaillc plans in accordance with their
original programme. a prominent oppo-
nent of prolonged debates is Bertram
Currle, British representative. His aim
in trying to curtail the discussion is to
bring the conference to a close at the end
OF next week. The American delegates
Will not yield to application of hasty
closure, but if Currie's influence prevails
the British, German and Austrian dele
gates will withdraw, at the latest by the
middle of December, and thus break up
the proceedings.
After the submission of the report Of
the committee, the Americans announced
they were not ready 10 discuss it and ad-
journed till Tuesday.
The report of the committee to the con-
ference on the proposals submitted com
menced by explaining the opinions ex-
pressed, given on individual responsibility
of members of the committee, and con-
tinues by setting forth the necessary pre-
liminaries for the proper examination of
any proposals with a precise understand
ing as to legislative measures likely to be
taken by the countries producing silver.
existing probabilities of the future pro-
duction Of silver in the United States and
Mexico, the policy of the United States as
to the purchase of silver, and the policy
of India regarding the mistake of silver.
United States Delegate HenryW. Cannon
stated that in the United States, under ex-
isting legislation, there was no means
of limiting the production of silver, and
that a modification of the present law IN
that direction was improbable. The
value of silver extracted from American
mines was insignificant compared with
the annual total general production
Mexican Delegate Caseaus, on behalf of
the Mexican Government, said as silver
was the chief article of export, it was not
to the interest of the Government to in
terfere with the industry, and under the
Constitution no means exist to restrict
the output or prohibit its export. Re
garding the third question, Cannon said
should the Conference fail to make some
disposition of the question at issue, it was
more than probable America would
not be willing to continue the purchase
of fifty-four million ounces of silver an
nually.
Sir Guilford Molesworth, one of the
delegates from England, in speaking of
the fourth question, said: "While there
is hope of the international entente.
India would hesitate to modify the pres
ent system"
The committee by large majority ap-
proved the Levi scheme, which con-
tempt s the gradual withdrawal of all
gold rs under the value of twenty
franc ID all bank notes under twenty
frar .eept in the case of silver certifi-
cates
Sir Il. .Freemantle, Deputy Master of
the English Mint, declined to commit his
m O nj hn axvi -aI1.o
concurrently adopted with that of Roths-
child or similar plan.
After the vote was taken Dutch dele
gate opened general discussion with a
view to inducing the American delegates
to submit definite proposals for inter
national blmetalism. Senator Allison
moved to adjourn until Tuesday. After
some discussion it was accepted.
ANXIETY IN INDIA.
CALCUTTA. Dec. 2.-The newspapers in
India are watching with anxious inter-
est the proceedings of the Monetary Con-
ference.
The Allamabac Pioneer says the chief
importance of Rothschild's scheme is lis
parentage. 1t is believed Rothschild was
appointed a delegate mainly to strengthen
the opinion of the bankers and merchants
of London. He now appears to be the
mouthpiece of the Government, for with
out the authority of the Government he
would never have made q proposal in
volving alteration in the legal tender
power of silver. A further meaning is
attached to his proposals, seeing the Brit
ish Ministry which has such anti-siIyer
tendency, recognizes the necessity for
immediate steps towards the support of
silver and for securing the co-operation
of other nations to that end. 1t is odd
also that the submitting OF the proposals
should have devolved upon Rothschild,
as the anti-silver legislation of the past
twenty years fonnd its warmest SUPPORT
among Jewish financiers, and especially
the Rothschilds, who, as holders of the
chief Government stocks, gained enor-
mously through the appreciation in gold.
Probably the Barring crisis opened the
eyes even of the Rothschilds 70 the fact
that the present strain, involved by the
scarcity of gold, may be carried too far.
and bring on disaster that would obliter-
ate the advantages secured by the mon
eyed interests.
The Bombay Times says India holds
the Rothschilds scheme would pave the
way to ultimate adoption of international
binletallisIn.
LONDON GOSSIP.
Lively Time Expected When Parlia-
mcnt Assemblies.