It seems to be understood on all hands that the
Monetary Conference at Brussels has failed. It has studied many plans for appreciating silver, but is agreed upon none of them. The nearest approach to unanimity is on a proposal to withdraw small gold coins and small notes ; but neither Italy nor Russia can possibly consent to the latter expedient, and the former would be inconvenient. The Governments interested will have to act for themselves, and there is a general belief that the United States Treasury will stop purchasing silver, and that the Indian Treasury will close ite mints against further coinage. The two operations should send bar-silver still farther down, but there is an idea that they will not equally affect the value of coined silver. Behind the whole discussion lies the doubt as to the actual cost of producing silver. Science may reduce that, as it has reduced the cost of getting aluminium, and then everything will be disarranged again.
Previous page
