The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-08-13
WATCHING

"
Rumor that Great Britain and Uncle Sam
Are Negotiating About Silver.
epec'sl TO the Indianapolis Journal
LONDON, Aug. 12.-According to the Pail
Mall Gazette. the bill introduced in the
American Congress. yesterday. by Mr.. Will
son, providing for the unconditional repeal
of the purchase clause of the Sherman act.
10 a sound measure of reform. Most of the
newspapers here do not venture to make
any criticisms on the bill. They simply re-
echo the American predictions cabied
here that the silverites will pro-
vent the repeal of the Sherman
law. The growth of this Impression
has assisted In Strengthening silver during
the week. y surprising feature of the sit
uation has been tue steadily increasing de-
mand for the metal for India with the OBJ
vIons sboriness of supplies both here and
IN the United States. Some dealers allege
that the stocks were so cleared out on the
fall in yalue when the Indian mints we're
closed that the free demand now drains the
supply. Other dealers attribute the Curl
Ous state of the market tn American man.
ipulstIon. Connected with the currency
debate il q report that has excited con-
siderable discussion. This report was
10 the effect that negotiations had been
commenced 10y Great Britain and the
United States looking TO the reopening of
the Indian minis with the addition of free
coinage at q fixed ratio of "a TO /. The
StstiSJ gives the report an authoritative
denial. while the bImetellist organs say
they believe IL has a basis In truth. The
Earl of Kimberly, Secretary of state tor
India. In speaking TO q deputation OF the
Anglo-lndian civil service a few days
since. made an important declaration.
The governments. ne said. had not stereo-
typed the value of the rupee at Is Al. 1t
was open to the government TO fix 1t at %
higher rate. In discussing this statement
the bimetallist organs point ont that the
Indian government proposed to fix the
rupee value st Is Oh. approximate to tho
ratio of / TO 20. 10 which it is argued the
American government might more readily
agree than TO the ratio of l TO "A.
Heavy Drop Ia Mexican Securities
BERLIN. Aug. 12.-The proceedings of the
American Congress are watched with keen
interest here. President Cleveland's mes
sage gave bourse operators in this city and
elsewhere in Germany the impression that
slver was doomed. and this caused n heavy
drop IN value of Mexican securities. There
was intense and general ~uneasiness over
tie commercial situation in America. The
apparent strength of the silver men in
Washington. coupled with the rise In the
price OF silver. led To q reaction OF opinion.
and Mexican securities have recovered
three points since Thursday, even though
1t IL asserted that the AGENTS in Mexico of
the Bleichroeders. the well known German
bankers. have information of sn intended
reduction IN the rate of interest now paid
on Mexican bonds.
The advance by the Reicbbank of it's DIS
count rate TO 5 per cent. means q determi-
nation To prevent a drain of gold from Ger
many. Inquiries for gold from Austria as.
sisted To hasten the decIsion of the Reich
bank 20 raise Its discount rate. If q de-
mand for gold through the international
bank shows n marked increase. the Reich
bank Will again raise it's discount rate.