The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-12-02
THE MONETARY CONFERENCE
ryrrr PROSPECT That IT WILL RE
SUIT IN NOTHING.
IT,. RothsehiiA Programmes Regarded ns
Observation-Disclosures Will Probably he
.;om, More Talk aud Then Everybody
,,,, 90 lIone-- ppointed .Ane ricans.


,;ou, More Talk aud Then Everybody
N,u Go e-Dtsnppointed Americans.
n,,..sz,s. Dec. 1.-The American delegates
,,x, almost upanim ous!y reached the conclu-
u, mat the Monetary Conference will prove
.,,,.,ye Most Of them were hopeful OF Inn
mt PRACTICAL results growing out Of the
,,uhs-,,.ous until tho Rothschild plan was
s,.ssnted on last Monday. Much had been
..x,.c.rd OF the suggestions from the great
c.s,.,e-. IL was known that. although
.,.,or .ta.l.st. he was prepared to make I'M
.o,.sn. cor ccseious to tho bimotalltc claims.
"a thu. most OF the English delegates were
Of the sar!e MEG. .
v,,,l, all regarded 1t as impracticnbls in the
,o,m in which it was presented. Tho verdict
s,,.srly all countries has been to the snino
nat That Of America has been most en-
phstic Of all
The delegates have been oomharded with
aos,atchos from homo urging them not to
,ire ccuptcnance to tho schsme "Severthe-
I,s." as an American delegate said to-day.
"ve were clnd to have the plan referred to
s1b.eonmstee. hoping that some amendment
would he added OF . raturs to mako it practi-
cslrrduseful 20 country owning as much
silver "a tie United States. believing that any
acton that Europo took to increase the value
OF si.ve- would be beneficial"
The result. or rather the lack o: result OF the
committee deliberations. will DO reported to
the Conference tomorrow. The plan. some
what modified and amended. will simply be
reported back without any Recommendation
except that il DO discussed in Committee OF
the Whole. The American members OF tho
committee viii probably urge that tho discuss
,.nu take vide ran so and bring out clear.ytho
4 Ee-cnt views Of the delegates on the whole
sue,cc. Of tho monetary use o, silver. That is
al that 1t is now expected to accomplish.
Delegates from the United States and others
also express their conviction that Europe Will
not do anything looking to internationa! BIZ
metaism that will be satisfactory. 1t is gem
orally understood among the United States
delegates that one Of their number. who is a
banker. will announce publicly to tho Confer
ence tomorrow that he believes that the
best interests OF the United States demand
the repeal OF the present silver purchase act
in that country. and that America should wait
until England and other European nations
can come to some agreement
This attitude Of the American delegates will
Q, course force An immediate crisis. Conces-
sions must he made or an immediate ADJOURN
mont may be looked for. Inasmuch as no
concessions can be- expected. tho Indications
are that there will be some further talk and
then the delegates will 60 homo with nothing
accomplished.
As President H. W. Cannon OF the Chase Ma
tioral Bank OF this city Is the American NOM
Der OF the sub committee appointed to consider
and amend the plan proposed by the English
delegate. Mr.. Alfred L. Rothschild. the views
he 10 known to entertain are OF especial inter-
est. It 10 understood that Mr.. Cannon will
probably vote that the Conference consider
che proposed rlsn In amended form. 1t is
generally admitted that the plan was referred
to the subcommittee only as bas sis for soms-
thing better. Mr. Cannon's views are as
follows:
IL no monetary agreement is reached
through the efforts OF this body. and il the
United States finds no responsive voice in
Europe to its appeal for the restoration of sill
W. 1t would then appear that our best course
would be to repeal the law Of July. 1850. and
to 60 out Of the market as purchasers OF silver
for currency purposes until such time as an
International aereem emit can be made as to the
relative value OF gold and silver In my opin-
ion. which. believe, is shared In by large
the United States Of America alone to Ak and
maintain the ratio between gold and silver
for all tho world. and. from present indica-
tons. the mints OF tho United States will
not only not be opened for the free coinage Of
silver. but lesser rather than greater use OF
the white metal as money will occur In our
country unless some reasonable international
agreement can be made in the near future II
gold monometallism Ia to prevail among the
principal commercial nations the United
States with its enormous and increasing for
eign commerce. with its high credit, with its
large stock OF gold. and its rich mines OF the
same metal. will he compelled not only to
cease purchasing silver for currency purposes
but to take such steps as may be necessary to
Increase aud maintain Its stock 0. gold"
BY III, uaGsd Pres.
LONDON. Dec. 1.-The DAILY Ns,rs. which has
from tho first been strongly moGumetaliis:,
discusses both sides Of tho Rothschi.d plan.
Opponents OF the scheme, It says take two
grounds: First. that it would bs wrong to
pro!ong the artificial support OF silver. and
second. that currency crisis il bound to oc-
cur in America whether Europe holsters ~
al!Tei o. not The papor admits the necessity
OF avoiding commercial panic as IA strong
ro"s0a for the adoption Of the scheme, ard
shTs ,ESt perhaps year would suffice 70!
America to turn round and quietly permit,
G0mmerce to adjust itself - the fall VI silver
Ihe real doubt. the papor adds. $ wi. ether thu
thfeat OF an American crisis Is grave enongt
meNt in currency.
WAXING on THE SILrEH CONFERENCE
The Chamber OF Commerce DELAY. t,In,,
fin he = nj ar ul.A-