The times. [volume] (Richmond, Va.) 1890-1903, 1892-11-30
THE ROTHSCHILD PLAN
My BE ACCEPTED BY THE NONE
TARY CONFERENCE.
Personnel of the Committee to Consider the
Proposai-Whatt the London Press
Says About 1t.

! Mr. Alfred DE KOtnScnlu, "Hi~h WIZ
presented TO the Conference yesterday, is
made up as follows: Sir c. Freemantle,
! Great Britain; Sir Guilford L. Moles-
worth India: Henry W. Cannon, United
/ States VI. De Foville, France; Signor
Simonelli, Italy; C. f. TietJen, Denmark
| n. p. Vanderberg, the Netherlands; Hans
l.. Torsell. Sweden and Norway; Senior
J Osma, Spain; NJ Creamer Frey, Switzer-
land: NJ. Sainctletto, Belgium; and NJ
Baffalovitch, Russia.
Mr.. Alfred De Rothschild Great Bri-
| tain) and NJ. Montefiore Levy, president
! Of the Conference, are eX-otficio members
| Of the comnittee. The committee VIII
also consider the plans suggested by NJ.
| Levy and Professor Adolph Soetber. Ihe
plan of Mr.. De Rothschid, announced in
| these dispatches yesterday, is, in brief,
that syndicate of nations be formed 10
make yearly purchases of silver TO the
amount of 900 sterling, and tha the
United States continue her purchase OF
silver at present. In the event of the
price of silver rising above 43 pence per
| ounce purchases are to be suspended at
! once.
Professor Soetber's plan is to establish
| one gramme of fine gold as an interna-
tional unit of value. and TO stop the mint
ing Of coins containing less than 5SO65
grammes OF pure gold. The circulation
of coin of foreign countries OF less than
the new standard will be prohibited by
the countries signing the agreement, and
gold coin Of inferior value TO be With
drawn within five years. Private indi-
viduls will be allowed to coin gold upon
the nayment of agreed seigniOrage. Gold
certificates may be issued against gold
held i'm reserve.
Professor Soetbers plan also includes
the coinage of silver I'm the proportion or
twenty value units OF that metal to one
Of gold, but private individuals will not
be allowed the free coinage OF silver.
The above is Professor Soetber's plan in
brief. Ills proposals have been discussed
In financial circles for some time past.
ard are we'll known to all persons inter
tsted in the solution of the monetary
problem.
OF the committee that will consider the
proposals five members are avOwed BIZ
metalists. six are monometallists and
one doubtful. The committee will sit
twice each day. 1t is the general eXpec-
tatlon that Mr.. De Rothschild's proposals
will be accepted by the committee, and
then referred for adoption or rejection
TO the Conference and the Governments
represented, with the notifications sug-
gested by the schemes of NJ. Levy and
Professor Soetber.
One Of the notifications will undoubt-
ediy be that all gold coin below the value
of twenty francs shall be withdrawn from
circulation and replaced by silver notes.
The adhesion of German delegates is now
considered certain, as Herr Docbend,
formerly president of Reich's bank, ap-
proved the main lines Of Soetber's pro-
posal.
The French representatives will also
accept the plan of Soetber, which was
communicated by NJ. Tirard the French
ex-Alinister OF Finance. This plan was
well received by all Of the French dele
gates before IL was submitted to the Con-
ference. With the prospect OF an early
agreement being achieved, nobody now
talks Of the failure of the Conference,
which at first was the only prediction
made as to the outcome of the meeting.
SO rapidly has the optimistic feeling
grown that it is reported that the Confer
ence is likely to conclude it's work next
week. 1t was said last week that the
session would last until after Christmas.
The American delegates have strong rea-
sons to be satisfied with the recognition
of the advocates Of monometalism, and
the seriousness of the dangers arising
from a further fall OF silver. They are
disposed to support Mr. De Rothschild's
proposals on the principle that halI loaI
is better than no bread.
The Indian delegates are also pleased
with the proposals, as they will assist
the conclusions Of the Indian currency
committee and their acceptance Will free
the Indians from the fear or large fall
In silver. The American delegates believe
that the absorption Of 300O0,OOO ounces OF
silver by the European Powers would
nh srfff "a
silver market which the international BIZ
metallism could establish permanently
ard scientifically for life.
WASHINGTON. Nov 29-The action OF
the International Monetary Conference
at Brussels continues TO attract the close
attention In the executive departments
here. The proposition made by Mr.. Roths-
child and the Danish delegates were dis
Gus. ed with much interest to-day. The
officials would prefer that the confer
ence should agree TO the coinage OF sill
yer upon international basis, but hardly
think such will be the outcome. They will
be satisfied if some agreement IS reached
which will result in che increased use OF
silver as a money metal, but think that
the proposition Of Air. Rothschild to limit
the purchase OF silver to one hundred
and twenty-five million Of francs an
nually is not on adequate solution Of the
problem.
LONDON, Nov. 2e.-Referring TO the
roCeedings Of the Monetary Conference
the Daily News says: Alfred De Roths-
childs plan. which seems 10 have saved
the Conference from collapsing. turns out
TO be mild, palliative and in nowise he
roic Theoretically, it would be best TO
let silver alone, but when we find Roths-
child trying tooth and nail to prevent
collapse Of the Conference, 1t may be
supposed that such a result would be dis
astrous We cannot suppose 1t to be re-
motely suggested that fve-pound notes
would be made redeemable in silver The
most striking part OF the plan is implied
I'm the belief OF first-rank fnancier that
unless something is done America will
discontinue the purchase Of silver. Amer
ica is, perhaps. the richest country in the
world and cannot be ignored. Were she
to sell silver we might be compelled to
close the Indian mints. Even then we
might be terribly hampered II America
raised a big gold loan. 1t Is not 10 Eu-
ropes interest TO precipitate currency
crisis in America The disturbance Of
trade would amount TO catastrophe"
THE FRENCH MINISTERI1L CRISIS.
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