New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-08
FOR 4 SILTER GUIRINTEE LEAGUE.
CONRAD y. JORDAN SUGGESTS THAT THE
DIFFERENT NATIONS FORM \ WHITE
LDn

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METAL POOL.
Conrad y Jordan. Assistan. Treasurer OF the
United States in speaking yesterday Of the confer
ence being held in London international
bimetasm suggested that silver guarantee
league should be formed by the different nations b.
which. he thought. the settlement OF exchanges be-
tween the countries could be made with less trouble
and less loss. and the strain caused BY continued
gold shipments would be relieved. He said:
why would not scheme OF this kind do? All
the commercial nations agree that the small silver
coins. say or better shilling pieces and any sub
divisions of same. SHALL may. be coined at the
of i5is 900 fine (this provlso mot actually or
necessarily oblgatOry) francs. marks, lire. etc. at
rate: United States and other American ma
tons halves and subdivisions same rate; al. ex-
sting pieces OF these small denominations to be
received at that ratio until substitution can or may
be effected. That such coins shall be received AZ
the above par by weight. each nation STIMULATING
within ten years Subject to renewal by common
consenU from date to retire from the general pool
their respective coins par In god; this I'm order
to make available the existing stocks of silver with
out coinage or delay, as the smaller coins can be
received and remi.ances made In this l5is silver by
weight and allowances for deficient degree OF fine
ness. The Bank OF England, keeping this guar
anteed silver Issue either 1900 notes OF small
err as preferred. earmarked. on the face or back
OF such notes could be printed the equivalents In
francs. marks. lire. or subsidiary coin, as the
pieces smaller than dollars known In tlie United
States Ohe dollars could be received at the ljia
weight. These notes would then serve for remit
ting to and fro in settlement OF exchanges. and
could be counted legal reserve In the different
depositorles banks etc, the Government Of Eng
land. in addition to the right to use their present
coinage Ghis could include the coinage OF India. or
India might have separate representation, TO
have the further right to coin in such manner ana
to such extent may be agreed upon or thought
desirable by that Govcrnmen; the same weighted
COIN which may he used in the same manner and
subject to same agreement as to payment at end OF
period OF ten years.
III the fear should arise that under this agree
ment the price OF silver might rise too rapidly the
United States might agree 10 furnish silver, IT re-
CURED from It's stock OF bullion AZ it, average cost
the sum agreed upon by and with the English Gov
eminent. The carrying INTO cn'rt O! thlS sch'h'
would Immediately relieve the strain caused by con
tinued gold shipments and permit an fXrans I'VE
cost Of carriasc Of the precious metals ana mlgh'
England, a. comnrr'ai nation, W"ull nov ="
asked to assume a burden greater than ihat nrr1'
by her own commercial transactions. ana would nm i
herself 'recouped by the general rise whch Snoui,u
result in the price u her MANUFACTURED go(is
"a limitation could be put 20 the contribution ~
each nation 10 the fund the stocks OF silver al
Of this scheme. and allow Just 50 much 20 10, an,
sorbel OF the mine product As couI or wouli De
reflect upon the injustice done 10y the Indian COY
eminent in refusing 70 coin the insoi stock IN In
dia thus reducing the wealth through savings or
boarding OF It's subjects . per cent az on" blow.
some sacrifice should b. required on the par Of
England. who. yet, except on IN" lart ot heI
Indian subjects. has suffered no loss Her CONNER.
cia and national interests certainly seem to demand
some active steps on her part - prevent Idrihrr
loss 10 her and her Indian merchants.
The practical result o. this action would be mat
the Governments having large comintrcih interest =
would contribute pro rata - a innI which "oI'h
enable the merchants Of ia" respective countries
10 use such an amount Of these deposits ~ would
suffice 10 settle the commercial movements or the
word and put "A stop to the continual struggle ard
fret OF the constant change now tnkng pace
throughout the commercial world - IT, d"trment
and loss besides cffcctlng economy In such set
Elements as would more than Offset the expense
and loss OF Interest. II any. ~ the latter case. II
woud make available larg" stock OF coin now
practically living useless IN the banks and tre1s-
,rlos OF the different nations composing this silver
Guarantee League and thus solve. II not put an
nd TO- the present precnrious condition Of the COM
Inerclal and financial world