The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1892-12-07
The FIGHT FOR Sill YER
Spirited Discussion Of The Monetary
Problem al Brussels.
AN AMERICANS ADDRESS
Position OF the United States On
an lmportant Question-Mr.
Rothschild WIthdraws
His Proposition.

monetary conference resumed discussion
OF Rothschild's proposal to-day. Mr..
Ro,hschild withdrew his proposition. Sir
&. Rivers Wilson, who said his views were
shared by Sir Charles Fr cmantlc, the
other British delegate, said he believed all
governments who sent delegates hero
recognized the presence OF great danger.
"A notc OF warning has reached us from
America" said he, "and to say the least.
IL In doubtful whether tho American gov.
crnment can continue indefinitely tho
gigantic efforts it has fruitlcssly made SO
many years to maintain and raise tho
price of silver. We needn't inquire
whether the policy which has governed
the currency legislation Of the great
republic was wise In conception,
but II can not he denied II has
not realized expectations and is greatly
the cause Of our present position. In any
case, the suspension OF American silver
purchases has become practically ques-
tion OF day. and II il occurred might
lead to the suspension Of coinage In India.
Certain high authorities believe the sud.
den cessation Of purchases of silver by
America and the closing Of India's mints
would lead TO heavy falls in silver and
Others contend that the fall is already
greatly discounted. and the removal of tho
present uncertainty will have quicting
effect. In view Of these divergent ideas of
what course should he adopted, Sir Charles
Fremantlc and myself, III state frankly,
are pure monomctaliists aud do not
admit that any other system
than q single gold standard is
applicable In Great Britain. We
will admit the Rothschild and Levi plans
not to he incompatible with our principles,
but Il Is not enough. These schemes arc
defeusiblc In principle. Would either plan
have tho least chance of meeting with
preponderance Of support that would JUS
tify us in recommending the British gov.
ernmcnt To consider IL? We think not.
Another plan may, however, he formula
ted and approved by the conference, and
IL Il does not conflict with our principles u
will receive serious consideration from tho
British government"
Mr.. McCrcary of the American dclcga-
ton proceeded to point out the dfilculties
and pcrils Of the existing situation. and
said whatever cause, the fact remained
that q remedy is imperatiycly necessary.
He appreciated the attention Rothschild
had given the conference, but could not
support his plan. He could not admit
that il is a proper remedy for America to
continue the purchase of 5i,UO.OO ounces
of silver annually AT price not to exceed
100 cents on the dollar ON condition that
European powers make purchases yearly
To the amount Of E5.WO,0)o for five years
ut a price not to exceed i3 pence per
ounce. and IL silver should rise above that
price the purchases bc Immediately sus-
pended. II seems an unequal distribution
that we bc expected to purchase twice as
much silver as Europe. Tho object Of tho
conference should bc not TO fix % price
which will keep silver below par, but to
enlarge the Use and restore IL to parity
with tho valuo II had with gold prior to
ls73.
McCreary referred to the complaints of
the British chamber Of commerce, quoted
recent declarations of Archbishop Walsh
and Mr.. Ialfour and contended that the
situation demanded broader recognition
and better remedy than suggested by
Ro,hschild. The American delegates are
ready To cooperate with other delegates In
n candid and determined effort To MAIN
tain the monetary functions Of both
metals. Therefore after submitting the
general plan Of bi-mctallism favored by
,. w, ~ -. IT,
,avosu ,9 S, 70 I,. 49,"
~ ~ous' -. III
nee.ss''', us' W. - .,'s, 49,, .'o
, anno - W. "". po -
ho ".''''pa W .'' IL -.
way W '" ',',,,.,' w. ~ -,
noho u =. . su ,,' ~ .. =,
ser VIZ III '''"., , """ s'iua' ir.,
hs'fu'"s"s
nc,s Vi P., ~. .,;S, y,
co"srces ' ~
nona'cns ""' euau W. i,.a .aue ~ ~
tne inc'as, =" o'ue, ''a' ,e s'.a'oi y,
,ne 'hi'eu o'".cs w '"''s u"uei s,os' -,
Sc, NJ 'ea.s !e,' -" -, IL, .,., Us.
he beiicvcu ,he people w sehera' "thou'
regard 10 poi'icai a'n''a''oh "'uorseo "s
American plan.