Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-06-14
FOREIGN.
The Hnnlan. Elliott Race.

NEWCASrLE-ON-tNSE, June l5,-At the
meeting this evening, the final deposit
was made on behalf of liaulan and FL
liutt. Doctor Luke Armstrong, Prcsi-
dent Of the Amateur Club, was unani-
mously appointed referee, and Thomas
Swaddlc distance judge. 1t waa agreed
that the men should be in their boats
ready To- start at ll:45 4. NJ. on Monday.
The chairman Of the meeting asked
whether, in the event Of Ilanlan win
ming, the next contest for
the SUgHamGa'S Challenge Cup
could take place in Canada? The Chair
man observed that the question was an
important one, and could only be decid-
ed bv the Trustees and donors Of the
cup, whose regulations distinctly stated
that it could only be contested for on
the Thames or Tyne. Col. Shaw, Of To-
ronto, appealed to the generosity OF the
Trustees II" could promise any Eng
lish scullCra hearty reception in Cana
da, and had no doubt the expenses OF
the Journey 10 Canada would be cheer
fully allowed.
The editor OF the Sportsman promised
communicate with the trustees, and
said that doubtless their decision would
be dictated sole by what they believed
10 bc the best interests OF sculling.
IIanlans : supporters left the question
Of the starting point entirely in the
hands OF Elliott's friends. A point off
the Mansion House was fixed upon.
Foreign Financial Matters.
LONDON, June l3.-Thc Times, in its
financial article, says: one Of the main
causes OF the rise IN silver was the pub
licatiuu OF letter 10 the Under Secre-
tary Of State for India, giving the views
OF Lord Odo Russell, British ambassa-
dor 10 Berlin, in regard 10 Germany's
coinage policy. The letter confirms the
announcement Of the German govern
mcnt's determination not 10 sell any
more silver at present. The letter
further states that the German govern
mpnt has CiO,OOOOOO in silver on hand,
which will increase during the suspen-
sion OF sales, and il j. added. on au-
thurilv Of Lord OdO Russell, that 1t ~
generally believed ~ financial men in
Germany that the government - pre-
pairing 10 introduce and adopt the
double standard, a. in France. This
news NAV be correct, Tor the economic
yararies Of the German government in
all directions are in unknown quantities,
and We may be prepared 10 accept the
perpCtratiOn OF any folly after what the
past few years have revealed. Still, II
would be we'll % reserve this news with
caution for more reasons than one. The
financial news from Germany II hardly
sufficient ground on which 10 come to
the conclusion that silver will be re-
mOnetizpd forthwith. As whole,
however, the tendency of the extracts
contained in the parliamentary paper,
where this letter appears, is 10 show
that recovery in the value Of silver u
quite probable. That Germany viii
cease 10 sell till the price rises again j.
also very likely, for the loss 80 FAR has
been rather severe. She j., besides, be-
hind in her silver cOinage-gUi,e apart
| from any question Of double standard,
and in the end may not have much
more 10 sell The production Of silver,
moreover, has been lar less in proper
ton 10 gold than iSpOpuiar.y supposed,
and It's consumption j. greater than
those who advocate the adoption Of D!-
metallism for England have allowed !pT.
| All this fully justifes the opinion that
the depreciation Of silver has been un-
| duly great. Bat it by no means follows
| that an immediate and great Ti-e is 10
take place. Tie lesson taught by
the recent experiments with the
India Council drafts should not
| be 20 lightly forgotten. While these
drafts are kept small in amount. silver
advances in price, but the moment they
increase 10 anything ike the level Of
the requirements Of the Iadia govern
ment, the market gives way. This state
OF things must 10 some extent continue,
whatever the intentions oi the German
government may be. and whatever the
! relative production Of silver and gold,
a. long as the amount ot the India
! Council demands 10 meet home pay
ments nearly equals or exceeds what
the excesses oil the export trade OF lndla
can cover. II cannot be too often reiter
ated that therein lies the true difficulty
Of the silver question.