Kansas City daily journal., 1896-12-26
SIXTH INTERNATIONAL MONETARY
CONFERENCE IN PROSPECT.
WoLcoTT PREPARING A PLAN.
TO BE SUBMITTED TO THE SENATE
SOON AFTER THE RECESS.
All Previous Conferences Have Ad-
journed without Doing Any
thing Defnite-Three of
Them Called by the
United states.

recognition of silver as money. He has not
yet Indicated the details of his plan, but it
Is presumed that ne will recommend that
the government of the United States take
the initiative in calling another interna-
tional conference.
There have been five international none
tary conferences, and they have all ad-
journed without accomplishing anything
definite. The first was called by France,
and met in Paris on the 17th of June, 1861,
the United States and eighteen of the prin-
cipal countries of Europe being represent
ed. After declaring unanimously, with the
exception OF the Netherlands. in favor of
single gold standard and against the
adoption of silver standard. the confer
ence referred its recommendations to the
several nations represented for diplomatic
action, and adjourned but was never reas-
sembed.
The second international monetary con-
ference was called by the United States,
and met at Paris or August 1G, 1875. The
invitation was issued under an act Of con-
gress and twelve countries were represent
cd. Germany declining to send delegates.
The United States laid two propositions be-
fore the conference:
Il. That it was not to be desired that
silver be excluded from free coinage in
Europe and the United States.
''2. That the use of both gold and silver
as unlimited legal tender may be safely
adopted by equalizing them at ratio fixed
by international agreement"
The European delegates, with the excep-
uon of those representing Italy, replied to
these uff fr,Ir IA
collective answer, as follows:
l. Ihat IL was necessary to preserve in
the world the monetary function of silver
as well as of gold, but that the choice of
one or the other, or of both simultaneously.
should be governed by the special situation
OF each state or group of states
- That the question of the restriction
OF the coinage of silver also should be left
TO the discretion of each state or group of
states.
%. That the difference of opinion that
had appeared excluded the adoption of a
common ratio between the two metals"
The conference adjourned on August %.
The third conference was called by
France and the United States in January.
lSsl, and met in Paris. Ex-senator Evarts.
on behalf of France and the United States,
presented a declaration stating:
"First-That the depression and great
huctuation of the value of silver, relatively
tho general prosperity, and the establish
ment of a fixed ratio of value between them
would produce the most important benefits
to the commerce of the world
'Second-That a bimetallic convention
entered into between an important group
of states for the free coinage of both silver
and gold at u fixed ratio, and with full
legal tender faculty, would cause and main
tain stability in the relative value of the
two metals suitable to the interests and
requirements of commerce.
'Third-That any ratio now or lately in
use by commercial nation, If so adopted.
could be maintained, but that the adoption
of the ratio of 15lz to l would accomplish
the same object with less disturbance to
existing monetary systems than any other
ratio.
''Fourth-That a convention including
England, France, Germany and the United
States, with the concurrence of other
states, which such a combination would
assure, would be adequate to produce and
maintain throughout the commercial world
any relation between the two metals that
such convention should adopt"
After this declaration had been read and
debated a recess was taken TO give the del
egates an opportunity TO confer. Upon call
ing the conference 10 order again after the
recess the president read resolution re-
citing that, in view of the speeches and
observations of the delegates and the
declarations of the several governments.
there was ground for believing that an un-
derstanding might be established between
the states which had taken part in the
conference, but that 1t was expedient TO
suspend its meetings; that the monetary
situation might in some states call for
governmental action. and that there was
reason for giving opportunity for dipIo-
matte negotiations. The conference was
adjourned to April u, 1882, but never re-
convened.
One OF the propositions submitted to the
international American conference that met
in Washington in 1889 was the adoption of
a common coin which should be legal ten
der In trade between the American nations,
and the delegates from all of the countries
participating agreed upon il unanimously
with the exception of those from the United
States. The latter were divided and the
subject was referred to a special confer
enCe of delegates from the san. nations
which was called to meet in Washington
during the year following, when, as one of
the delegates from Chill remarked it was
hoped that the United States government
would adopt permanent monetary policy
The conference met in 1891. The delegates
on the part of the United States We're:
Ex-senator y. p. Hill. of Colorado: Lam
bert Tree. of Chicago and William A. Rus
sell. OF Massachusetts. The delegates from
the other republics, as before, were united
in favor of a common silver coin, which
should be issued and redeemed by each
country. 10 an amount proportionnte to its
population. and be legal tender in all trans
actions between citizens of the American
hemisphere, but the delegates from the
United States would not Join in this recon-
mendation, and proposed a non-committal,
straddling proposition, which meant moth
ing.
Tho fifth and last international none
tgry conference was called by the United
States FOR the purpose of comforting as
10 what measure, If any, can be taken to
increase the use of silver as money in the
currency systems OF nations" and met at
Brussels on November o. 1892 twenty
countries being represented The announce
mcnts made by the delegates demonstrated
that England was not prepared to open
her mints TO the free coinage of silver.
and that Germany was satisfied with her
monetary system, while France and other
TatiOns were willing to unite with England
Rni Germany in forming a monetary union.
While England was not prepared to adopt
the free coinage OF silver at n fixed ratio
IN common with gold. she appeared will
!ng TO accept policy in conjunction with
ether nations which would secure a stable
value TO silver and sustain its price h,,
some practical method short of free mint
age looking TO its enlarged monetary use
Various plans TO this end were suggested,
and long recess was agreed upon in order
that the record and plans proposed might
be submitted to the governments partici-
patinG fer further instruction and sugges-
tlons The conference suspended its labors
DECEMBER 20. 1882. to meet again on the
S0th of May following. should the govern
mcnts approve" The United States dele
gates reported IL 10 be the earnest wish
of the conference that a plan for the On
larEed ,ise OF silver as money, acceptable
20 the nations and adequate to the none