Los Angeles herald., 1892-12-03
.ROTHSCH|LD's PLAN SAT UPON,
Reported Adversely by Vote
Of Z to 6.
The Latin Union Delegates Were
Opposed to 1t,
Part of M. Lewis Suggestions Adopted
by the International Monetary
ConfeeSpce-A British
oHstruc.ionist
BY the Associated Press.

BY the Associated Press
BRUSSELS, Dec. 2.-The scheme for the
solution of the monetary problem sub
mitted to the international monetary
conference by Baron Albert de Roths-
child was rejected by the committee to
which it was referred on the votes of
delegates from France, Italy. Belgium,
Norway and Sweden and Russia.
The first objection made to the plan
was from the delegates Of the nations
belonging to the Latin union. They dis
approved the proposal that 43 pence be
fixed as the maximum purchase price Of
silver. This figure WAS consequently
withdrawn in favor of q higher one, but
opposition.
The report was submitted this after
noon by Raffalovitch of Russia, chair
man of the committee. 1t declares that
Rothschild's proposals are of great in.
terest and worthy of full discussion,
but that the committee by vote OF Z to
declined to recommend it's adoption.
The committee declared in favor of
that portion of Montefore Lewis plan
which refers to the gradual withdrawal
OF all gold coins under the valde of 20
francs; also of all bank notes below a
certain value.
The report concludes with a state
ment by the American, Mexican and
Indian delegates, with reference to the
future action of their countries. This
statement is not yet obtainable.
After the submission of the report of
the committee, the Americans announced
that they were not ready to discuss it.
The conference then adjourned till Tues.
day.
FURTHER DETAILS OF THE SESSION.
The report of the committee to the
conference on the proposals submitted
commences by explaining that the
opinions expressed are given on the
individual responsibility Of the MEM
bers OF the committee, and continues by
setting forth that necessary preliminary
for the proper examination of any pro-
posals was precise understanding as
to the legislative measures likely to be
taken by the countries producing silver;
the existing probabilities of the future
production of silver in the United States
and Mexico; the policy of the United
States as to the purchase of silver; the
policy OF India regarding the mintage of
silver.
United States Delegate Henry w,
Cannon stated that in the United States
under the existing legislation there is
no means for limiting the production of
silver, and that the modification of tie
present law in that direction was i'm
probable. The value of the silver ex-
tracted from American mines was in
significant compared with the annual
total general production.
Mexican Delegate Casasus, in behalf
OF the Mexican government, said ae sil-
yer 10 the chief article of export it is not
to the ipterest OF the government to in
terfere with the industry, and under the
constitution no means existed to restrict
the output of products for export.
Regarding the third question Cannon
said should the conference fail to make
some disposition of the question at issue
it was more than probable that America
would not be willing to continue the
purchase OF 54,000,0OO ounces Of silver
annually.
Sir Guildford Molesworth, one of the
delegates from India, in speaking on the
fourth question, said while there was
hope of an international entente, India
would hesitate to modify her present
system.
The committee, by a large majority,
approved the Levi scheme, which con-
templates the gradual withdrawal of all
gold coins under the value of 20 francs,
and all bank notes under 20 francs, ex.
cept in the case of silver certificates.
Sir G. Freemantle, deputy master of
the English mint, declined to commit
his government to the Levi scheme,
unless concurrently adopted with that
of Rothschild, or similar plan.
After the vote was taken, the Dutch
delegate opened the general discussion,
with view of inducing the American
delegates to submit definite proposals
for international bi-metallism.
Senator Allison moved to adjourn
until Tuesday. After some discussion
the motion was accepted.
- A BRITISH oBsTRUCMoNIsT.
The American delegates regard the
position cheerfully. The way is now
cleared for a full discussion OF their BIZ
metallic plans, in accordance with their
original programme.
A prominent opponent of prolonged
debates is Bertram Currie, British
representative. His aim in trying to
curtail the discussion is to bring the
conference to close at the end of next
week. The American delegates will not
yield to the application of hasty clos
ure, but if Currie's influence prevails.
the British, German and Austrian dele
gates will withdraw, at the latest, by
the middle OF December, thus breaking
mp the proceedings.