The sun., 1893-06-30
THE INDIIy sILrER QUESTION
Discussing the Eject OF the Suspension OF
FREQ silver Coinngc. 49,

Discussing the Eject of the Suspension oi
freo silver Coinage. r,.
LONDON June 2a.-Further inauirics were
made In the House OF Commons to-day regard
Ing the effects Of tho action Of the Indian Gov
| eminent In stopping the free coinage OF silver.
In response, Mr.. @. +. Russell. Parliamentary
Secretary OF the Indian ONCE, said that neither
the Government OF India nor tho Herschell
! Committee expected prices In India to be ma-
| terially altered under the new currency nr-
rangcmcnts-
The Right Hon. George J. Goschen. who was
| Chancellor Of the Exchequer in the last Cab.
| net of Lord Salisbury asked whether the
| Herschcll Committee and the Government had
| been prepared for tho great fall that had al
ready occurred in tho prico Of silver Would
not the fall modify tho views OF the Govern
mont and tho committee ...,
Mr.. Russell said he could not answer for the
Horschell Committee. With regard to the Gov
ernmcnt. he would leave Mr.. Goschen to form
his own opinion. ''..
Mr. Gladstone said that the Government had
the impression that there was no likelihood OF
any serious fall in the value OF produce In In-
dia. In case such fall should occur. he would
announce the yewsr IS, of the Movcrnment. -. !,
discussing the claims Of the various banks.
which have 81, 100000 in silver now on passage
dc IN k n % msa
from tho action OF tho Govern ment IN stopping
the free coinage oi silveGi 1t Is snid that the
against loss.
'AMsTEnpAM. June 2n-The market here for
World s sreaty seeted M@ ed He BY tho acton tie
Government Of India in dealing with the cur
e ss that n Ss svcr In as hsopps
T., IRussEL, ,R1 % June 24mIiePlying to question
naert. the President OF the Council and Minis
tor OF Finance. said that tho time was III
dian monetary questions on the silver inter
ests OF the nations forming tho Latin, Union.
He added that tho International Tern Monetary
Brussels shortly.
several members OF Parliament who spenk
tervewod this evening concerning the proba-
bic ciISct M Of lndas rev attitude toward silver
in the Bimetalc League @ said that indTa's &C:
tion in closing her mlnts to the free coinage OF
silver would d steady exchange and thus relieve
shire and the. Indian, ports. On the other
hand Lancashire y trado with countries hay
Ing the silver standard would be injured seri-
The posi-, Of India would eventually be
adopt bimeta ism. In reply to question con
cerning the immediate future Of tho bullion
mardke Sir William said pdH1 du5 nG,oR viii
cause further fall OF silvcr-to what extent |
India and has written book concerning the |
country and its people. said he was inclined to |
think tho direct effect OF the Indian Govern |
monts action would be small in India as
prices there were fixed mostly by custom. I'm
less panic should como, the majority OF the
natives would never know that there had been
q change.
Sir William Houldsworth is Lancashire
Mr.. Caine is n Lancashire Radi.
cal Samuel Smith, q Liberal. who IL regarded
MS mn authority. in most Indian affairs. said
hat tho price Of silver probably would drop to
twenty pence per ounce.
Samuel MontaCu. Liberal M. p. and head OF
the arm OF Samuel Montagu & Co.. foreign
bankers. is. more optimistic than Mr.. Smith
He thinks silver will hardly fall below thirty
pence. He could not see how 1t was possible
for the Indian Government to do otherwise
han It had done; The silver market would re-
,oyer slowly and touch q considerably higher
point than tho one Mt which 1t now stood.
Sir Richard Temple. Ex-Governor OF Bonn
bay. said hat the Indian plan was oil wrong
economically; The gold standard ought, TO
lavo hcen introduced in India twenty-five
'ears RGo. However. the present experiment
would provo harmless.
.Dadabhai Naoroji. the only ,Hindoo in the
House OF Commons, said that the Indian G6v-
.rnment had acted merely for the interests of
he Anglo Indian salariod officials, and had
lnloaded further burdens upon tho native