New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-04-03
A SILVER CONSPIRACY.
ENGLAND TO BE BROUGHT TO HER
KNEES.
SILVER STANDARD COUNTRIES DECIDE THAT
THDY CANNOT PAY THEIR DEBTS BECAUSE
COLD Has DOUBLED IL NALCE

fBY TELEGRAPH TRIBUNE
Washington. April 2-There is phase Of the sill
yer situation which thus far has escaped notice In
this country. but which is bound TO have very
important influence upon the solution OF the prob
lon, that now perplexes the world. 1t will be re-
membered that the London Chamber Of Commerce
a few weeks ago submitted n memorial to the Brit
ish Government praying for an interhatIoii"i ."
ourv into the causes of the decline and fluctuations
of the value of silver and for relief from the EN-
barassments and losses suffered therefrom by BRIT
,sh merchants doing business with countries "here
silver money Is the common currency ana the
standard OF value. ! he representations VI '
memorial were extremely serious. ana, coming do II
did from the most conservative commercial Or
eanizatIon I'm the world. which, until now, mas
revor oven admitted that silver might or could be-
money 1t demonstrates that the pocket nerve OF
England is being severely pressed or her merchants
would not cry out in pain
No notice was taken Of the memorial by the Gov
eminent II came just as the change from uiau-
stone to Rosebery occurred, and has propaDy oeeh
huried under other matters dropped into waste
basket But now another blow mas peeh suuoN
at the same tender spot. and the result Is an even
louder remonstrance and an appeal 10 the GOVERN
ment for protection
The little republic Of Guatemala has given Johh
Bull n terrible blow beneath the belt About
rnontb epn Fernando Cruz, the Minister or Guate-
MALI. I'm London, under instructions from MS Gov
eminent announced that the interest upon i's
bonded debt would have to be passed on account
OF the low price of silver and the high rate Of ex-
change Tht Guatemala dollar, which has been
worth from IS to 10 has dropped to 80 ana H.
and as the revenues of the Republic are received IN
silver the interest the bonds is practicahy
doubled and the Government is made to pay per
cent instead OF per cent per annum
The announcement created great deal or sur
prise for the reason that for many years Guate-
mala has been scrupulous in meeting her opllga-
tions and the interest is not due until July l. the
bonds which have been quoted from % 70 49,
dropped TO 30 when the news was known. Inc Eng
ushmen who have an association of American
bondholders in London cabled their renonsrance'
to the Government Of Guatemala. ana causen al III"
vestIgatlon to be made They now claim to nave
evidence to justify them in the opinion that the
default of Guatemala is not due to any inability 10
meet its financial obligations but TO punish Eng
land FOR her stubborn opposition to bimetahsm ana
her responsibility for the decline IN the Naue Vi
silver by suspending coinage in India. Inc ooh"-
holders have asked the Government to intervene
and enforce the paynent Of the Interest when due,
and this f. one Of the first questions Lord Rose
berry will have 20 meet.
Guatemala has entered no denial nor Is II pe-
lieved that her Government desires TO cohceal th'
motive for her extraordinary policy although her
President could not be expected to ADMIT the tru'h
of the charge The defence and justification VIII
be that by reason Of the policy II Great Britain
toward silver the national currency of Guatemala
is deprived OF half its value and its Obligations
thereby doubled II Is therefore Impossible LOT
the Government to meet those obligations ana the
sub jects OF the nation that is responsible Tor the
situation must suffer. Britain may send
down a man-of-war to collect the interest on the
debt for her bondhOders as they VIII douDtlesS re-
quest. but II she attempts force she VII haVe 10
blockade every harbor south OF the 'Tusi OF eHIJo
and the Rio Grande. for the example OF Guatemae
is likely to be followed 10y most. II not all oil the
Latin American countries.
There need be no surprise If Mexico serves a
similar notice upon the owners Of her bonds IN
Great Britain before the sem-annual interest CoeS
due in July next The iorelgn or external GeP' OF
don and Amsterdam. When 1t negotiated or
funded at s per cent, the Mexican silver dollar-the
other American republics and the West Indies
worth from % 70 90 cents sold making the en- IN
81 per At present the Mexican dollar Is worth
only Is cents IN gold ana as the revenues s ana me
buy gold pay It's interest are exclusively silver.
the interest eharse is practically between 10 ana ID
Her opposition to silver is condemned unreason-
able and unnecessarily stubborn. and the suspen-
sion OF coinage IN India is regarded as the severest
blow that was ever aimed at silver money.
Mexico has not yet announced that there will be a
default in her Interest but she may be expected to
do 50 AZ any time There VIII be no rsPudiation OIL
her debt, but simply, a postponement. The payment
Of interest Will be deferred unit! the Mexican dol
lar is worth more than ~ cents.
similar action may be expected on the part OF the
Ayres contain unmistakab.e evidence that the acton
OF Guatemala Is approved ihere Is No question
that II has the sympathy or All the IitIn-Altl Cfin
nations. The diplomatic representative Of one ot
ay 9 tbai bgorr jny thry would all suspend
payments until silver had recovered something or
III silver continues to decline" he remarked.
"or II the present conditions continue We shall be
revenues in silver money AMI are compelled %
pay those Obligations in gold. cold is nov worth
incurred which Is not our fault. but the fdu.t or
our largest ,cgeiitor-England and if England de
q. 1ffr lie
one but herself Every nation in Central and South
H 9 S 4 tie in h Ta Of "@ ar mony
and IT is right for England TO suffer, because she
II she Will recosn.. silver as money the rest Of the
world will do SO II she VIII not her people must
Some weeks ago. under instructions from his Gov
eminent, Mr.. Romero the Mexican Minister adj
dressed letter to the representative in Washing
ton of each OF the Latin American republics and 10
Secretary Gresham. suggesting a conference OF
secure the recognition OF silver money. or some
other t9rm OF relief from ne conditions nat have
received from the United States but the representa-
suggestion to their respective governments with a
favorable recommendation. and II IS probable that
ing the present summer No date has been set
but the details will probably be- left 10 preliminary
conference Of diplomatic representatives. in Wash
1t viii be remembered that this subject was one
national American Conference. and that no con- |
cluson reached. because Of division of opin
There two reports on the silver question. one
for and one against silver and the conference |
finally lodged the issue by referring the topic FOR
the consideration OF an American monetary con- |
ference. be held I'm Washington the following |
year This conference met. Judge Tree Of Chicago |
eX Senator y +. Hill. of Colorado and William A.
Russell Of Massachusetts representing the United
States All OF the Governments. except tine United |
States agreed AS they did at the original confer |
encc. upon the Issue OF a common silver coin of |
equal number OF grains and equal tneness by each |
nation to amount in proportion to it's compare
tive population but the United States would not |
agree to this proposition report signed which |
was very much like the old lady's opinion Of the |
Christian religion. that 1t was good thing il lived
up to-
A NEW FACTOR ~ COLORADO POLITYCS
Denver April 2-Spring elections in this State to-
morrow are for municipal offices only In Denver
the portion north Of the Platte River, known as
Highlands Will elect municipal officers. and 1t will
be a most exciting election. Among the candidates
are two women. who standing for the office OF