River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1892-12-01
MONETARY CONFERENCE.
Proposal of the United States Submitted
10 the Deiegates-Morcs silver Favored.

Proposal of the United States Submitted
20 the Deiegates-Morc silver Favored
BRUSSELS, Nov. 26.-The proposals
made by the American delegates to the
monetary conference were printed in
parallel columns, one in English, the
other in French, and were on Friday
distributed among the delegaUes, each
receiving a copy as he entered the con-
ference room. The proposals substan-
italy say:
1T is generally admitted that very large de-
probation of silver as compared with gold and
the frequent violent fluctuations OF gold and
the price OF silver incident thereto have been in
furious 70 the commercial and other economic
interests Of all civilized countries and have
caused and are causing serious evils and incon-
veniences 10 trade, the fun extent Of which can
not yet be measured.
1T Is the unanimous opinion OF the people OF
the United States that the establishment Of a
fix.ty OF value Of gold and silver and the full
use Of silver as "A coin metal upon ratio
fixed by agreement between the great
commercial nations of the world will
greatly promote the prosperity Of all classes
Of the people They however are not
unaware of the fact that public opinion in
some other countries whose cooperation in a
successful movement Is most desirable is not
fully in accord with the views OF the practical
bility OF such an agreement They believe that
a sentiment in favor OF a large use of silver is
steadily growing throughout the world, and
that the time is propitious for holding an inter-
national conference TO consider the subject
The government OF the United States, while
frankly disclosing its own views of the proper
remedy to be applied, does not wish TO impose
any conditions that will embarrass any govern
ment willing 10 confer on the question OF the
most advantageous relation OF silver TO the coin
age of the world. The government OF the United
States for these reasons proposed by conven-
ton OF the powers for the purpose Of comforting
and determining what means, II any, should be
taken TO increase the use of silver money.
The United States delegates, in conformity
with the general purpose of the conference. SUBJ
init the following resolution:
THAT, in the opinion of this conference, IL is
desirable that means be found for increasing
the use OF silver in the currency systems OF the
nations OF the world
1.-THE government OF the United States be-
lieves that the reestablishment and mainte-
nance of fixed parity betw, IN gold and silver
and the continued use of both as coined money
OF a full debt-paying power would be productive
Of important benefits 10 the world.
These ends will be accomplished by the re-
moval of the legal restrictions now existing
and the coinage OF silver into full legal tender
money, restoring by international agreement a
parity of value between the metals at such a
ratio as the conference may decide upon. The
essentials of such an international agreement
should be:
Il The unrestricted coinage of both gold and
silver into money of full debt paying power
80. Fixing a ratio in the coinage between the
metals.
%. The establishment OF a uniform charge
If any TO the public for minting gold and silver
coins
In explaining the position of himself
and his colleagues Senator Allison said
that. while they came representing the
government of the United States and
favoring the bimetallic plan, they
were willing to discuss any plans cal
culs ted to promote an increase
in the value of silver bullion.
With singular unanimity, he said,
the people of the United States were in
favor of the free mintage of silver 1t
was to their advantage, as well as to
the interest of the other nations of the
world, to secure under an international
agreement a stable standard of value.
In regard to the assumption that Amer
lea was a silver-producing country, he
said that the silver products amounted
to only $50, 200, 900, while other pro-
duets represented an annual value of
els, OO0 600, 0OO
Sir Charles Rivers Wilson, speaking
for Great Britain, said that the British
delegates adhered to the American
resolution, which was really the basis
ON which the conference met The
principle therein was set forth in the
invitation issued by the government of
the United States, and the presence of
delegates from the countries invited
implied the acceptance by those coun-
tries of that principle.
The Austrian and German delegates
intim ated that they had been instruct
ed to say that they could not assent to
any modification of their existing mon
etary laws.
The Dutch, Spanish and Mexican del
egates stated that they were ready to
vote favorably on the American resolu-
tion, while the Russian, Italian, Rou-
manian, Swiss and Greek delegates
declared that under their instructions
they were not permitted to vote on the
resolution.
The conference intimately resolved,
in accordance with the request of SEN
ator Allison, to postpone action on the
American proposals until later stage
of the proceedings, and to meet on
Monday to consider the proposals SUBJ
mitted by Rothschild, of the British
delegation.