The Butler weekly times. (Butler, Mo.) 1881-1918, 1899-04-13
A MONETARY CONFERENCE
The British Indian Currency Com
MISSIONS Report Misleading as
TO Americas Intention.
STATEMENT By The MINT DIRECTOR.
Reform to Begin WORK Monday-Sew
York Banks Against IssaIng Notes
BASED Clreuiatton-Gen. Brooke's
Plan OF Credit Exteasious An CabA

Washington. April 1.-THE report
OF the British Indian currency commits
sion is misleading so far as il tends TO
show that there has been any serious
consideration by the American ca bInet
OF the question OF another interna-
tional monetary con ference. or of the
ratio for the coinage OF gold aud sill
yer. There is the highest authority
for the statement that there has been
no serious consideration OF the ques-
ton by the cabinet since the failure
of the last monetary conference,
and that il is highly improbable
that the United States, under the
present administration, will take an
initiative for the calling of another.
1t can be said on the same authority,
however, that the United States will
accept any invitation that may be is
sued by any other nation for such
conference, and that the present ad-
rninistration would be inclined to GO
as far in increasing the use of silver
as other leading commercial nations
might be willing 10 GO
George F. Roberts, director of the
mint, whose official position gives such
significance to what he says, said to-
day that he was formerly an advocate
of an international agree ment. but
that in view of the great change in
the situation, due 10 increased gold
production, he did not believe that
such an agreement was now possible,
because there was no longer necessity
for il and il would be impossible TO in
| terest people in it. The increase in
gold production" he said, lis almost
L I
lation based on the most reliable data
obtainab bic, which shows that by the
year 1900 the annual product of
gold alone in the world will equal the
| production of gold and silver com bined
in 1896
To work a Currency BuI.
Washington, April 1.-THE house
caucus committee on currency reform
will begin its meeting at Atlantic
| City Monday. in an effort TO frame a
| bill mbodying reforms in currency
| and banking systems. In this connec-
| ton information has come from WASH
| ington that the leading New York
| bankers will oppose the scheme which
| has been suggested of amending the
| banking laws so as to permit banks
| to issue circulation upon assets not
| now included in their authority. 1t
has been supposed that this plan
was the hobby of the banks. II may
| be of a majority of small banks
| throughout the country, but it is now
said that New York financiers oppose
the proposition. 1t is well understood
/ by the committee that the reason of
the opposition is that the New York
banks, by reason of their large depos-
| its, do not have to issue notes in order
| to make loans, and that they desire to
deprive the country banks of the OPP
portunity of so doing. New York has
no representative on the caucus com
mittee, but her importance as the mon
etary center viii undou btedly receive
due consideration
| Chairman Babcock, of the republican
congressional campaign committee,
| who is also a member of the caucus
committee, is now in Washington. He
says he thinks the committee will
make up a bill, although he does not
venture to forecast its character. The
general belief is that the leading fea-
ture of the bill will be the enactment
of the presidents recommendations
relating to the green backs and the
breaking of the endless chain raids on
the gold reserve.
Credit Extensions In Cuba.
Washington, April 1.-The princi-
pal subject of discussion at tO-day's
cabinet meeting was an elaborate plan
of credit extensions in Cuba which has
been presented by Gen. Brooke and his
cabinet council. but reached no con-
clusion. The $40, 900, 900 to be paid
Spain according to the peace treaty
will be by draft on New York