The morning call., 1892-12-09
GOLD AND SILVER.
Work of the International
Conference.
THE POSITION OF AMERICA.
Meeting of the Institute of Bankers.
A Proposed Pam American
Convention.
THE POSITION OF AMERICA
Special TO THE MORNING CALL

BRUSSELS, Dec. s.-When the interna-
tional monetary conference adjourns. at the
end of next week. it will probably leave 10
the respective Governments represented 10
decide whether or not it shall reassemble in
January. The American and other BIZ
metallic delegates will try TO obtain from
the conference recommendation TO all the
Governments to allow from one year to
eighteen months to elapse before taking
active measures toward changing the pres
ent currency policy The advocates of this
recommendation have In view the POSSIBLE
Improvement of the general monetary posi-.
ton. They also hope much from the growth
of bimetallism as political force in British
politics.
The proceedings yesterday at the British
agricultural conference, in London, struck
some of the delegates like a revelation.
Immediately after the opening to-day
Alard, one of the Belgian delegates, sub
mitted plan for an international agree
ment for the purchase, under common
account, Of stocks of silver, against which
treasury notes are to be issued by the
contracting States, none of which will be
obliged TO coin the silver thus purchased or
modify existing currency legislation. The
plan also proposes that these notes shall
nave international circulation.
Baffalovitch, the Russian delegate, spoke
briefly regarding the Moritz Levy plan.
He declared he did not believe, under the
present conditions. any international agree
ment to regulate the relations between gold
and silver possible. The general discussion
was then resumed.
In reply TO an invitation extended to him
by the conference. Professor Andrews made
IN address, in which he said that he hoped
that the idea that America was bent only
upon increasing her national wealth, and
was merely acting as the servile creature of
mineowners, would forever be dismissed as
being equally absurd as the idea that
American interest was mainly due to the
distress affecting the American monetary
system.
Continuing, Professor Andrews said:
I'VE have not, and are not at present
likely TO have dollar in silver beyond our
needs in the United States. We have no
idea OF soliciting any favor from the
peoples of Europe. What we desire is
as much TO Europe's Interests as to
ours. We wish to multiply our trade with
the world. This can never be successfully
accomplished so long as the Two great
groups OF nations continue TO drift apart
We will not. however, continue alone the
task of sustaining the price of silver. If
Europe is not enough interested In the
matter TO cooperate with US, we will soon
decrease our annual purchases Of silver aud
begin by recruiting our currency by issues
of paper The next Congress is nearly cer-
tain to open procedure in that direction.
We will not give up our gold"
Referring to the tariff. Professor Andrews
said ii was obvious that there was no surer
way to lower the American tariff than for
Europe and the United States 20 agree upon
policy favorable to silver as money. That
alone, he declared, would abate the in
cessant conflict for gold and leave the
United States free to effect a generous re-
duction in the customs tariff.
The best authorities state that when the
conference adjourns next week. it will be
until spring. A careful canvass Of the dele
gates shows a majority of them favor this
course.
The debate on the various bimetalic pro-
posals will conclude Tuesday.