New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-11-30
OPINIONS OF NEW-YORK FINANC1ERS.
SOME OF THEM THINK THAT TIrE RoTscli1LD
n1 AZ aN1y nncrnnNES 4 nANGER

SOME OF THEM THINK THAT TIrE RoTsCluLp
PLAN ONLY PosTPONFs A DANGER
The proposals O, Alfred de Iothschlld. one Of me
British delegates thu International Monetary Noh
ference at brussels. have not commanded ge"crfi
approval in banking circles. In fact some strong
expressions Of dissent heard yesieNiay. lhr'e
Is n conservatism however. shown in tho expression
Of opinion due to the reluctance Of bankers TO pass
final Judgment upOn the propositions until more CON-
pete advlces are received than those contained IN
the cable dispatches. There IS universal expression
Of satisfaction that the plan TO be taken up from
the English representatives Indicates serious ols-
position upon the part Of the British Government TO
treat the silver question with CONSIDERATION or tho
claims made I'm behalf Of the silver using countries.
Whatever defects may be pointed out In the Roths-
child scheme or however divergent may be the views
entertained to the outcome OF the Brusseis dis'
cussons qualification Is felt that the delegates rom
tho country which IS strongest In the monometahst
faith are alive TO the Importance OF the problems
TO be solved and show sufficient interest to advance
important propositions looking to accomplish the object
OF the United States I'm calling the conference namely,
the frecr use OF silver in the worlds currency.
The plan proposed by Mr.. Rothschld meets objec-
tons from both monOmetaists and advocates OF free
silver The defender Of tie single standard declares
that the measures contemplated would not meet the
vital issue OF the financial controversy, but would
rather agrravate the evils declared TO b. flowing
nom the sue OF Treasury notes based upon the present
purchase, Of silver bullion by the American Govern
mcnt The silver also object TO the scheme be-
cause without settling the question: ;s adoption would
bar for five years every effort in this country TO
secure the free coinage Of silver The plan OF Mr..
ROthschd according TO tie cdbled accounts. provides
for the continuance by the United States for five
years OF is present policy OF buying 100000 ounces
of silver Il month. while the European governments
are to undertake the purchase Of $25OCO0OO worth
OF silver annually until the market price OF the metal
reaches 40 pence an ounce In London. The binding
OF the United STATES to the policy Of supporting the
silver market by monthly purchases for five years
ceIvcs some strenuous objection. Wall Street circles
have been earnestly hoping for speedy repeal OF the
SRver Act Of 1900 and the idea OF a long postpone
m-nt OF the repeal is not relAsh'd. II Is objected
chat tie Rothschlld plan would throw upon
this country the greater part OF the work
OF sustaining the price Of silver without
bringing the final solution OF currency problems any
nearer 1t is conceded that international adop-
tioa OF this policy might raise the market value Of
TIE white metal temporarily, and to the extent OF
the iisc the loss America in settlement Of trade,
balances with Europe would be reduced. But 1t Is
urged that the co-opcraucn OF foreign governments
would when silver rose to about % cents Uhe
equivalent OF AZ pence In London), gain OF only
about 10 cents au ounce from the present New-fork
price Of the bullion. and any subsequent rise In pxs