Show THE MONETARY conference BRUSSELS as nov 28 the in terna lional monetary conference met agalia today proposals ww were o submitted to the conference this thia after noon they cover coter eleven pawa rothschild argues at great gont length that bimetallism in great brit aln in ia absolutely impossible he kar suggests that the he question ariles chobe whether g it is not possible to extend silver gow gen graid erady y and by this querns queans assist la in checking the further burthe MU fail in values said he did not claim ehst his proposals would prove a goal final sola uon of the quest question lop but they would prove palliative hummed up his bis proposals are that american countries continue the pur chase of silver liver and european powers buy an amount au emual to sterling starling every yew year for five years at if silver should rise above that price purchases are to be moderately rius MIS the portuguese delegates delegate have bom been instructed by their go government vern to act in harmony with the british representatives it is in stated that fat rothschild Roth tOhild proposes to raise the legal tender of silver lu england from two pounds to five great importance attaches to the proposal as it memo means that english za 5 notes will be payable repayable in ia sliver silver rothschild said odd to in part that he felt that a gold standard in england was the only possible one and that if they considered that her whole commerce and a large part of that of other countries was carried on toy by bills of exchange on london ondon JL which were naturally pay able in gold it must be admitted that the world generally transacts business on a gold basis and that a double standard with the exception of a very modified form does not exist even la in those countries professing to pay in either metal whatever international vA agreement way may be made or whatever ratio is in chosen gold alone will always be the favorable medium of settling large debts or making remittances germany la act on in 1873 and the action of italy a and russia is ia amassing gold I 1 is proof of the appreciation of great european countries of the advantage ad vantage of a gold standard apart from other considerations it seemed to him that a eal arran geme t of the ou frenoy currency question was impossible impo as the wealth and sources of expenditures of no two countries are alike it would be impossible to carry on the hade of the world on a sound basis it if the debtor was al lowed the option of paying in whatever dunoy suited him thought some such ar ran gemont as he proposed would give t general satisfaction the gold marke mark would also alco be relieved as M only eu appe alfe alts will be made thereto forr far a long time and as south africa is increasing her output of gold the arrangement ran gement suggested would enable russia and austria to complete their purchases without unduly interfering with the money market it the conference adjourns without having accomplished complis campli hed shed any definite result it will cause a fall in silver ailder frightful to contemplate it will cause a monetary panic a nic added rothschild of which it F is 1 impossible impo seible to tell the far spreading effects after the proposals were referred to a committee to consider the committee includes sir G Free mantler british Britis hs guilford Qu ilford molesworth india H W cannon united M boville foville france sig big 8 italy and M elovitch russia Rua aia with alfred and M levi lev belgium as ex officio members the conference adjourned until friday the american delegates authorized the associated press representative Benta senta tive to state they are thou roughly satisfied with the turn of events and consider plan and today sa action of thebon the conference ference as amply justifying the convoking of the conference |