The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1892-11-23
THE MONETARY CONGRESS.
AMERICANS DECLINE TO SHOW
THEIR HAND
Although Requested by Austrian and
herman Delegates Who VIII
Oppose NonOmetaIism--
Opening Speeches.

By cable to Chronicle.
BRUSSELS, Nov. 22.-The international
monetary conference met at the Palais
des Academies at 3 p. m to day. Tie
following countries are re presented: The
United States Of America, Austria, Hun
gary, Belgium, France, Germany, Great
Britain, Greece, Italy, The Netherlands,
Portugal, Roumanis, Russia Servia,
Spain, Sweden, Norway and Switzerland.
NJ Beerneart in opening the conference
expressed the hope that the delegates
would reach an understanding as to the
best means for the rehabilitation of silver
aud that to this eid they should NIX"
the Latin union the foundation of Ast
international agreement as to the coinage
of gold and silver. MIR. Beernaurt was
warmly received by the American and
French delegates but evoked fewer signs
of approval from the delegates of Aus
tria, Germany and England
Senator Montiefiero Levi, who was
elected chairman of the conference, spoke
the general lines of NJ. Beernaert's ad
dress and made no pretense of symp athy
with the gold bugs After reviewing
the numerous efforts to regulate the rela
tions of the metals both through
national and international conferences,
be described the present condition of the
world's money as peculiar for its unpre-
cedented Instability. The daily dis
turbances Of commerce and fluctuations
of the so-calIed standards of value he
ascrlbed to the uusteadlness of the silver
market The situation had become 50
fraught with trouble, and danger to the
financial world, that the time had come
| for delegates to such q conference as the
present one to sink purely, individual or
national interests and should do their
work for the benefit Of the whole com
mercial world.
The speech of Edwin H Terrell, who
was elected vice chairman. was awaited
with keen interest as it was expected to
contain some hints as to the course to be
pursued by the American commissioners
1t was however purely formal 1ecogni
ton of welcome on behalf Of the Ameri-
can delegation.
Several delegates requested the Amer
lean representatives to give the details Of
their plan. as the wording Of the invita-
tion to the conference had been too
vague to convey any clear idea Of its CON
celt objects. This the Americans de
clined to do, but they promised to sub
nit their proposals one hour before the
next session. After arranging the de
tails of the procedure the conference al
journed till Friday. The conference will
sit three days ia each week.
There is 20 doubt tn At the English, Ger
man and Austratfl de422gates di2 ga wi! will follow
a dogin the manger policy. SO far a;
can be ascertained none of them have
come with the idea of making a seriou;
proposal for the rehabilitation Of silver
ani they vii assume pu-ely ne@ativ,
attitude toward any such proposal com
ing from the United States or France
The Austrian government does not care
to burden itself with any more condi
tions as to its currency, while in tn,
midst of It's currency, reform and tn,
concurrent coinage Of new money. Ger
many would lnder no circumstances t0le
rate anything like even a partial aban
donment of monometalism, not onI,
because the whole academic sentiment
of the country seems to be against 1t
but also because such course woulc
benefit France IN both Austria anC
Germany the illusions OF the press to tn
conference are almost without exception
to the effect that II represents the effort
of the silver producing states in Americ
to enhance their product at the expens
of the rest of the world. Every observe
Of the Austria and German delegates il
the conference to day could remark thei
opposition. in fact, they were the one
responsible for the request that tn
Americans should show their hand a
once. They, together with the EngIisl
: delegates, will be the leaders of ever
effort to render futile any work attemptet
by the United States or members of tb
Latin union.