New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-02
THE SILVER PROBLEM.

A settlement of the silver question is emf
nently desirable. But it does not necessarily
follow that any settlement whatever Is de-
sirabe. The anxiety for some adjustment OF
this vexed question should not blind Amen-
cans to the faults of any plan which may be
suggested Especially the desire to enlist
Great Britain in any movement of helpful
nature should not blind the delegates from the
United States to the evil effects of the plan
now proposed, nor should it tempt them to walk
into any trap which tho Rothschilds and the
British delegates may put before them.
There is much reason to doubt whether the
plan which has been proposed by the Roth
solids would have been acceptable to the
United States even if it had been regarded
favorably by the committee. This scheme
binds the Government of tho United States
to continue for five years at least its purchases
of "a ,O00, 900 ounces of silver each year. III
is not necessary here t. say anything OF the
disposition of the present House. Nothing can
be done without the action OF the Senate
which is almost equally divided politically
Among the Republican Senators Mr. Sherman
has already opposed the continuance of any
purchases of silver. There are several Demo
any such measure Besides there is the strong
body of silver Senators, who have more than
once shown a clear majority in the Senate, ana
who are inclined TO insist upon the free coinage
of silver. 1t is to be presumed that these
Senator's will resist any purely tentative pol
icy. which would put off for five years at least
any action by the United States in the dircc-
ton of free coinage. Hence it is unlikely that
any treaty which might be submitted to the
Senate in furtherance of the British plan would
be ratified by the Senate as it Is now organized
Without action by that body and without
action by the House it would be impossible
10 give any effect TO the plan proposed by the
Rothschlds. But it is also unlikely that the
present Administration would recommend such
a plan as the one proposed, because it imposes
upon the United States an undue share OF bur
dens without corresponding advantages.
This Silver Conference ought to have bet
ter result. and if the Rothschild plan has
really been rejected, this may yet be accom-
plshed. The summonng and the meeting OF
the Conference are highly creditable to the
United States. The disposition which is now
disclosed by Great Britain to seek some relief
from the evils of monetary disturbance Is de-
cidedly hopeful. 1t is evidence that the anxiety
of British manufacturers and merchants ana
financiers regarding trade with the East begins
to influence the policy Of the British Govern
lncnt in a marked degree. Sooner or later
that Government will be compelled to take
decided steps for a permanent settlement OF
the monetary problem. Under such circum-
stances the United States probably could Sc
cure, and certainly ought to strive earnestly
for. some measure looking to the permanent
settlement Of the silver problem Any advance
in that direction would be far better than a
mere temporary palliative. 1t is perhaps I'M
fortunate that there is not one delegate from
the United States who is in position 70 sub
nit and earnestly to advocate a plan for the
larger use of silver as monetary basis without
free coinage. The ideas underlying Mr.. Win
dom's plan, which was submitted TO Congress
some years ago, might folm the basis of a more
advantageou, and more permanent settlement
than any which has yet been placed before
the Conference at Brussels.