Show ht THE I 1 senators jones and andA allison Hison spoke warmly AND URGED AM AN AGREEMENT next tuesday will end the present session but the congress will meet blee t airala sometime next juno june dec 15 the tho committee appointed by the international monetary tary conference to consider the various projects to the conference adopted a report in ili which they state that in tit considering si the various proposals submittal to them they confined ther themselves nIves to the study of general principles and did not discuss a the details necessary to give the several proposals effect after reviewing the reasons for and against the different plans the report concludes having regard for the fact that the conference is not yet pronounced on the general question the 11 committee do not feel beef satisfied in taking a vote on the projects referred t to them or attempt attempting in to formulate a cono compromise I 1 aromise between talie the varying monetary doctrines oct rines advanced BRUSSELS dec 15 senator jones of the united states delegation made a strong speech at the monetary conference today in favor of bi he ile said the tile enemies of silver and of every silver currency curr r egeL reform were the very men who directed r e attention to the appreciation of gold in its nature money was a function rather than a material that function created by law was WB vastly more important than the material upon which the money function was conferred tile these facts disproved the tile contention that tha t th the cfall fall in tit prices was wa due to scientific development reducing the cost of production the construction of the suez canal brought to the eu european ro markets the effective denia demands gean of hundreds of millions of asiatic of which the tendency was to raise prices more than was offset by the tile tendency of science to lower prices american merlean bi metal lists did not claim that making the two metals legal tender would secure a stability in Is prices rices but they asserted that I 1 free re col coinage n a go over a wide area would result in the I 1 fluctuations of the tile dalueg of gold and silver being considerable they fully admitted the demands of the myriad of 0 f people peoples s in ili the east might in case of a harvest larves t abundance see such an increased demand for silver oliver bills as to bring silver to a slight premium lum over ov C r gold but the fact of colu competition petit prell on for whichever metal became me fractionally cheaper would sustain the tile values the metals inter see had bad not been questioned at the tile conference 31 alono 0 no rueta lists of lombard street when confronted with this argument spoke of the mountains of diver silver they ere told were about to be discovered which would swamp the market for silver with bills sufficient not only to overwhelm the monetary demand for europe but also to inflate the silver curten cies of orientals orient als The evidence taken before the british royal commissions in regard to india showed the rupee today purchased as much in tit india as it ever over overbid overdid did the I 1 indian farmer gets mor rupees es for the thirty shillings illings Ob in gold which re ills wheat realized in london today than lie did lid for the forty ago how flow could europe and america market their crops in the face of auch such com petton while the tile colla collapse ose of silver stimulated the indian exports at the expense of the british farmer it was similarly creating an all enormous competition bombay sell sending 15 ing cottons to china at the tile expense of ian ln I an ashira ashi rc what india gained by falling exchanges she has more than lost bailie by he hesitation of british capitalists to invest in india indiala indias indebtedness to areat britain cornnel compelled led her to sell annually in tit london at least million ounces of a silver ilver more than iras was produced prod used by all the tile mines tit ines of america could it be said that england had bad no interest in the silver question lie ile w would not complain of the attitude of france which was already read amply provided provid edwith with silver currency II 11 with a station stationary ar population copula tion a steady bank bank rate and eastern trade the french interest in silver could not for a moment coin pare the english the tile fall of prices in 1 england was driving the tile farms out of cultivation and arid putting the landed interest into the hands of mortgage companies Ilis history tery was full of warnings Fin financial ancia I 1 scrugg struggles had led to social struggles and arid sometimes to revolution governments ern ments alone could undo the mis chiefs governments overn ments had done whatever might ee be the the result of the conference if it some measure of relief wai not willingly adopted in the near future they might bo assured ultimately in spite of the craft andean and cunning nin and the wicked the great pro producing trig masses of the civilized world wa would id crystallize cryst alize into law their imperial will senator jones spoke for two hours il 31 allard of tho tile belgian delegation then spoke in support or of his its own plan which proposes an international agreement for the purchase under common account of a stock astock of aila silver r against which treasury notes are to bo be issued by the contracting tr states none of will be obliged to coin coln the silver thus purchased or modify its existing currency currency legislation the treasury notes to have nave an all friter international national circulation in the course of hia his s speech allard complained in bained of the obstructive obstruct tactics ti of the british deletes delegates tes senor of the spanish delegation and arid M of the russian Ilus sian delegation urged the tile american delegates not to press a vote on the main question at the Bent stage senator allison spoke with some borne warmth he ile said he be and colleagues did not ask for a vote on he tile main question they fully appreciated the caution with which vl lill the ques question t ton had been approached by all se sections t otis of the tile conference tile proposals already presented to the conference were of such a character that thoa would if adopted d impose a IL heavy burden upon america tile american delegates could not make inake c concessions without compensating amendments he lie believed the truest ratio between gold and silver was 15 to I 1 and ho be wished to repeat that if there was any intention to resume the conference later the united states donld bo be willing to go as far as possible with avith due reg regard affo to its own just Us t interests to satisfy the expectations of europe ho lie promised the t a united states he lie would a accept capt any scheme that met with general approval the next and probably the last session for the present will be held tue tuesday sav sa v A proposal will then bo be made to the C conference oil 1 to adjourn to 0 jane juno ath without dissolving |