The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1893-09-30
The Stewart Plan.

Though the amendment to the repsa
bill offered by Senator Stewart on Mon
day may not prevail, it will at least af
ford striking text for serious consider
alton and discussion in Congress.
monetary union, such as Stewart pro-
poses, between the United States and
the republics of Mexico, Hayti, San Do
mingo and Central and South America,
all OF which are silver using and several
OF which are large silver producing
countries, would 60 far toward settling
the silver problem. And we have no
doubt that if some such plan of finan-
cial or rather monetary combination
and corporation could be effected, it
would result in the formation of an in
dustrial and commercial union of these
American nations and peoples which
would p5ove immensely advantageous
to all, and particularly to the United
States.
The Stewart plan in detail, as far as
We are advised. is to authorize the Pres
ident to invite the governments Of the
countries named to send delegates to a
conference to meet in Washington four
months after the passage of the act.
The object of the proposed conference
liz to secure the adoption of a common
silver dollar of not less than 959. 81
grains, nor more than 3Sl.lS grains of
pure silver. Such coin to be issued by
each government and to be legal ten
der in all commercial transactions be-
tween the citizens of all the states en-
tering the monetary union. Stewart
then proposes that the action of the
conference shall be binding on the gov
srnments sending delegates, and that as
soon as an agreement is reached the
governments represented 10 the confer
ence shall open their minis to the un-
limited coinage of silver for the benefit
OF depositors.
The plan of binding the countries in
advance of ratification of such an in
transitional agreement is, of course, i'm
practicable, and was probably suggested
by Stewart only for the purpose of en-
phasizing the propriety of speedily
reaching such an understanding.
The proposition to enter into an in
ternational monetary treaty for free sill
yer coinage between the countries of
America, to the exclusion of Europe,
will probably seem absurd and outra-
geous to the English fnanciers of New
York and to their Spokesman in Con-
gress. And yet the plan, though crude
perhaps, has the merit of being essen
italy American, If it could be carried
out in some practical and effective man
ner it would be long step toward the
of that great scheme of
commercial and industrial reciprocity
between the American nations which
was the dream of Mr.. Blaine.
The vast Importance to the United
States of establishing international
monetary relations with the countries
south of US was deeply appreciated by
I
Mr.. Blaine, and was made the subject of
q letter to the President, transmitting
the report of the committee on banking
adopted by the international American
conference. 1t will be remembered that
The conference recommended tbs estab-
ishment of an international American
bank. Mr.. Blaine pointed out the inn
nense advantages which would accrue
o the United States from such an insti-
ution.
1t might be that the Stewart plan !,
would effect the same results. Instead
If being obliged to settle the enormous
snnul balance against US in our trade ;
With these countries, by expensive ex-
hange on London, as we now do, we
ould pay in the coin of the monetary :
lnion.
At all events, whatever may be .
bought of Senator Stewards plan as =
'roposed, be has at any rate suggested .
ubject worthy of attentions Fran
isco Chronicle. L
Railroad assessments reduced Rea-
IN -