The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1893-06-28
SILYER'S SAD SLUMP
Il RssllE In tho Temporary Dsmofii.
ration Of Financial Circles.
SENATOR DOLPH's OPINION
He 10 for Free Coinage and VIII Be
on Hand to Fight for It-causo
OF indla's Aotion-EnG-
iish Finances.

WASHINGTON. June 27.-Ons effect Of
the action OF tho government Of India has
been to renew tho demand for an carly
session OF congress. This Wow WAS pre-
sentod to Secretary Carlisle this morning
by many OF bis congressional callers and
BY numerous telearains from all sections
OF the country. Before going to the cab
met, Carlisle received . cablegram from
London, announcing o further decline In
the price OF silver TO 3S pence. Al this
price silver dollar 10 worth 5s3x cents.
Senator Dolph Of oregon, tho only Pa
cific slope senator in the city, said this
morning: u am opposed to my col.
leagues, you know, on the subject Of FREQ
coinage. and am In favor OF maintaining
all the currency on q par with gold, but II
seems to mo that this action OF the Indian
government will diminish, instead Of in-
creasing the prospect OF passing a repeal
OF the Sherman law by the senate.
think tho effect will be to make the
thoughtful members Of congress hesitate
before they further depreciate tho value
OF silver by suddenly throwing upon the
markets of tho world 100000 ounces Of
silver, equivalent to nearly the whole
American product now purchased and
held in stock by the government. do
not know that anything better than the
repeal of tho Sherman act can be done to
relieve the situation, but I am fearful
that the repeal Of that act would be disas-
trous to the finances Of the governments
and silver"
The senator further desired 10 correct
the published statement that he had said
in substance that Cleveland would not be
able to command the presence Of congress
ut q special session and that for himself
he should not come to Washington prior
to September 10. He mightjhave said that
congress should not, on account Of the hot
weather. be convened earlier than Sept.
30. In that no did not expect to be in
Washington until the Goth, but he stated
nothing indicating any opposition to
Cleveland or that he would not be on hand
whenever congress Is called. He will prob
ably be a better supporter of Cleveland's o
financial measures than the majority of
the democratic senators.
Among the opinions obtained regarding
the situation as affected by the action OF
the Indian government are the following
Representative Oates says that he is
hopeful Of . speedy settlement OF the
question when congress meets. He thinks
tho most logical and common sense thing
will be the repeal of the Sherman law and
the Law levying . 10 per cent. tax on state
bank currency and provide for tho free
coinage OF silver At such q ratio as to place
IL at parity with god:
A. J. Warner OF Ohio. president Of the
American Bi-Metallic league. said: "The
stopping Of the coinage of silver Ia India
has inaugurated a new monetary revolu.
ton. II 10 movem snt that IL deep
seated and II will be far reaching in its
consequences. The closing Of tho minis
of Bombay and Calcutta is part OF ri.
gantic conspiracy to sieze upon the pres.
ent opportunity to finally and forever es-
tablish single golal standard. and to ex-
tend il over the world. The immediate
consequences will be that silver will fall
and gold will increase In value faster than
ever. Prices will fall everywhere as gold
rises. Every advantage will inurc to cred.
itors and to creditor Of nations. England
has set ont to subdue the world, not with
arms. but with gold.
"Wbat is there left to do but for the
western continent, under tho head Of the
United States, to unite and act indepen-
IDENTITY and establish . financial system
founded upon equity and calculated to Sc
cure stability in value and one which will
keep an even balance between debtor and
creditor, not ono calculated to rob with
iinpunity the debtor for tho benefit of tho
creditor.
"The national convention Of the Amer.
lean Bi-mctallic league has already been
decided upon for the latter part of August
at st. Louis or Chicago"
Secretary Carlisle in response to a re-
quest TO express his views on the financial
situation as affected by the action of In
dia on silver. politely declined. saying
that. under the circumstances. he had
nothing to say for publication and did not
care to indulge in speculation as to the
future"