Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1893-06-29
midas SILVER MOVE.
The Marquis of Lansdowne Ex-
plains Its Full import.
II Was Necessary In Order to Prevent a
Further Fan in Exchange Hopes of

II Was Necessary In Order to Prevent u
Further FAN in Exchange Hopes of
Securing an EfiioienJ Gold standard.
SiLMA, June 27.--In explaining 10 the
India Council the bill providing for the
stoppAgG of the free silver and other none.
tarv measures, the adoption OF which was
announced Yesterday. the Marquis Of Lans-
downe, Niceroy of India, said he hoped
the government would not be criticized tor
dlisPosinEof the important question at a
single sitting.
The keynote of the scheme, he said was
rather to prevent u further fall in ex-
change than to raise the value of q rupee
The liking of the provisional rate of tx.
change NJ Is Id, provided an automatic
means OF preventing the closing of the
mints and the violent disturbance OF eX.
change rates. The rates Of exchange had
been fixed high enough to relieve the
government Of the most pressing neCessi-
Ties, while it was all within the limits of
\ TIE recent fluctuations.
| uherc should be no mistake, the vicerOy
saitk about the facts. Ii was not proposed
to substitute gold for the silver currency.
No attempt would be made AT present TO
fix q legal tender price for gold. While the
ratio OF value was mentioned it was only
provisional.
In conclusion, the viccroy EXPRESSED the
governments sense of the gravity of the
step il was about to take. Personally lie
was aSGrse to all attempts to give money
commodities Il fictitious value, but the
time bad arrived when to remain inactive
was impossible. The government would
be unworthy Of the name if 1t left things
alone. 1t had not taken the momcntous
step with light hearts. He hoped its action
would he fruitful in good results, and that
! a sufficient reserve of gold would be accn.
mulated to make an effective gold standard
| possible.
THE EFFECT Is wAsHlNGToN.
WAsHINGrON, June 27.-One effect of the
! action Of the government of India has
| been To renew the demand for all early
session Of Congress, and this view of the
situation was presented to Secretary Car
| isle this morning by many of his congress
| sianal callers, and by numerous kilograms
| from all sections of the country.
| Before going to the cabinet Secretary
! Carlisle received cablegram from Lon
| don, announcing further decline in the
| price of silver to s. pence AT this price a
| silver dollar Is worth 5ss cents.
| Senator Dolph of Oregon. who is the
| only Pacific slope senator in the city, said
| this morning II am opposed to my col.
league, ms YOU know, on the subject Of free
| coinage, aud am in favor Of maintaining
| all the currency on n par with gold, but il
eminent will diminish instead of incraas.
| ing the prospect of passing repeal of the
| sherman law by the Senate.
Il think the effect will be to make
| thoughtful members of Congress hesitate
before they further deprecate the value OF
| silver by suddenly throwing upon the
markets of the world the 4, $4,000 ounces
| of silver. equivalent to nearly the whole
| American product now purchased and
stored by the government. do not know
that any hing better than the repeal of the
/ Sherman act can be done to relieve the
situation, but am fearful that the repeal
of the act will be disastrous to the finance
OF the government and To silver"
The Senator further desired to correct d
| published statement that lie said in sub
stance that MT. Cleveland would not he
able to command the presence of Congress
at the special session, and that for himself
he should not come TO Washington priui
to September 3Oth.
iemight have said that Congress should
not, OH account of the hot weather, bt
convened earlier than the 10Th of Septcm
ber or that he did not expect to be IN
Washington until the 10Th but he had
said nothing indicating any opposition t
MI. Cleveland, or that he would not he OF
hand whenever Congress was called
No Senator, he said. was more constan
in attendance or more willing to do hi
share of the work than he was, and h,
would probably be a better support OF Mr.
ClevGands financial measures than tn,
majority vi Democratic Senators.