The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-08-09
INDIA AND SILVER.


LONDON, Aug. S-Mr Gladstone an
uounced in the house of commons today
that the government intended to hold an
autumn session of parliament. The an
nouncement was received with loud cheer
ing by the supporters of the government.
MIR. Gladstone added that no adjournment
would be had until the remaining clauses
Of the home rule bill were passed and
supplies voted.
Henry Chaplin asked leave to move an
adjournment of the house, in order that
che change in the Indian currency system
aight be discussed. In speaking TO the
notion, Mr. Chaplin said that the chang
.ng Of the Indian currency system before
allowing parliament to express an opinion
on the change was "A matter OF urgent pub
lie importance. He could not, he added,
blame the Indian government, which had
found itself confronted with bankruptcy
I'll The one hand or the closing of the mints
10 free coinage on the other The latter
policy was full of danger TO the CONNER
cial interests of the world. This policy
had been practically forced upon the In
dian government by the attitude of the
imperial government. The government of
India had escaped a deficit by tampering
with the currency and artiiicially raising
the value of the rupee The effect of this
uctiuv had been to lower in value every
thing else. The government had virtually
mulcted the ratiyes of India by methods
which il had hoped would not be diScoy-
cred. y more fragrant act Of public plum
der never had been peruetrated by civil
lied government If the repeal by the
American congress of the Sherman act
should become inevitable it would be
partly due 60 the error that had been COM
nitted in India A further fail in the price
at silver must follow the repeal OF the
Sherman act.
Mr. Cnapliu, concluding demanded to
know whether the government, before X
ing this action IN India, had any com
munlcat!ou with the United States gov
ernment, and whether the government
with its eyes now opened, contemplated
persistIng IN a great wrong. The loss to
the holders of silver securities. he said
was hlready nigh unto e-0). 900 coo. for
which the government must be held res
ponsible. Its action could not fail TO ap-
preciste gold throughout the world, while
increasing commercial difficulties every
where.
Sir William Vernon Harcourt chancel.
lor of the eXchequer evoked laughter by
saying that II the end of the world should
come right away the honorable gentleman
who had Just spoken would be found de-
iivering an oration on the benefits of bi-
metalllsm. He decliued 30 enter iuto "A
general argument, but he was quite pre-
pared 10 defend the change in India The
course taken by the government he said,
was indicated 10 ii by the royal
commission OF 1856, which point
ed out the dangerous and mischievous
effect which blmetallism, If adopted.
would have upon India. Tue government
stood by those views. Referring TO the
proposals Of the United States at the in.
ternatioual monetary conference at Brus-
sells, Sir William said that the United
States proposed that the conference should
entertain the question of some measure
ior Increasing the use of silver in the cur
rencles OF the nations. As a matter OF fact,
England had been almost the only power
prepared 20 support such u resolution, as
It would not affect British currency.
III conclusion Sir William. speaking
forcibly. denied that the populsce OF Iudia
were suffering as much As they were al
legged To be. he also denied that the ma
ilves held The amount OF uncoined silver
which II had been asserted they held
Arthur James Balfour, the Conserva-
tive leader, said that the government had
been driven To commit financial crime.
and that IL appeared 10 think that it ought
not TO submit to criticism OF is
condnct. Every one now knew that
The existing government had gone
into the Brussels conferences with
"VS SS"-HS ltSe4t diiNc 10 tue extra
ordinary gravity of the situation. The
speech just made by the chancellor OF the
excheqaer was virtually "A sneer at the
present unancial situation. For the chan
cellor OF the eXchequer to get up and tell
the country that he regarded with absolute
indifference what happened 10 silver ap-
peared to him tMr. balfourl TO be some
thing approaching lunacy. ICheers.l
Sir William Vernon Harcourt moved
closure OF the debate, and the motion was
carried without division.