The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-29
BLAND NOT DISCOURAGED.

produce 40 per cent. or the worlds supply.
BLAND NOT DISCOURAGED.
Thinks the Action of India Is Not n Knock
Out for Silver In This Country.
ST. Louis, June 2S-Representative
Bland. the great silver advocate. who is
here. in reviewing the silver situation.
as affected by tho action of the Indian
government. said.
Heroic measures will be required on the
part of this government for the remonetizA-
tion of silver. Most emphaticaily do not
think tits Knockout for silver IN this
country. On the contrary, Think that II
Congress does not adopt some measure
looking 10 direct metal standard 1t will
make the battle of standards the coming
Issue in this country. This battle will dis
rupt political parties. and cause a contest
between the commercial centers and the
great agricultural districts of the country.
Free coinage of silver Is demanded by the
laboriDg classes. and this is what free-sil-
Yer men will now demand of Congress.
The characterization of silver is q coDspir-
acy between the banking institutions OF
England and the Eastern portion of
the United States, and the suspension of
silver coinage In India Is part or this
conspiracy TO bulidoze the Congress OF the
United States to the adoption of the single
gold standard. do not believe that they
will succeed. If the Democratic Congress
stands true to it's pledges this conspiracy
will not succeed. The low price or silver
is due to the fact that this and other gov
ernments are discriminating against it.
and that the money interests of this and
other countries nave fought It. No impor-
tant commercial country has recently had
mint for the free exchange of gold and
silver. The effort has been TO dam up sill
YER and prevent rts free exchange in the
commerce. of the nations"
Can the United States. by free coinage.
restore silver TO it's original valueF
This was practically admitted by the
British royal commission of 1888. consist
ing of twelve mem bers. six of them uncom-
promising gold monometallists. They ad-
init that Franco alone could maintain the
parity of the two metals on O ratio of 10 -
TO one. This country is stronger in ma
terial wealth, developed and undeveloped.
than France and England combined"
Suggestion from Mexico.
CITY OF MEXICO. June 2S.-The tremen-
dous drop in the price of silver. bringing
exchange on New York to &c per cent, has
created much discussion among Next
can bankers. They generally re-
gard the present situation as offer
ing great opportunity for the
United States to force bimetallism upon
Europe. 1t is suggested by one man that
the United States might issue gold loan of
$500. coo, 00o. Az per cent. bonds which. it is
said. would be Immediately taken mp in
Europe. where all other government secur-
tiles would Immediately drop heavily.
American bonds. According to the
theory gold would flow into the
United States. and in a short space of time
bimetalllsm would have to be adopted by
Europe. and the enormous Quantity of sill
YER held by the American treasury would
rise in value. the whole transaction being
Immensely profitable to the United States.
1t is said here that if nothing Is done to
bring about oimetallism all the silver
using coun tries will begin manufacturing
for themselves. and the United States and
Europe will lose enormously in their for
eign trade. The United States. it is urged,
could afford to undertake gigantic fnan-
cIal operation. being able to feed il. and
has now q wonderful opportunity to settle
the silver question permanently.
Effect on the Chinese Trade
SIMLA. June 2s.-Sir David Barbour.
Gil. said in an interview on the silver Ques-
ton to-day. that in his opinion Ceylon and
Mauritius would be COMPELLED soon to fol-
| low the example of India and close their
mints to the free coinage Of SILVER. The ef-
| feet of the change on the Chinese trade, he
| said was causing much justifablo
I anxiety. 1t might be possible TO
| ease the situation through the
in the Chinese treaty ports, but in any
| event the bulk of about fourteen crores of
| rupees (1400000O0) would be thrown on
| China. That Chinese foreign trade rela-
| tons would be thus disturbed TO an
enormous extent was self-evident. Many
| silver mines must be closed. continued Sir
| David. Eventually things would be right
ed by the decrease OF the production of sill
yer, but meantime there would he bad
N q m p wi hns
having the gold standard.
Silver Mines Closed.
SALT LAKE. U. T., June 2S-The falling
| silver market causes dismay to the mine
owners In this region. To-day the Daily
West mine at Park City was ordered closed
down. The Diamond mine at Eureka
| New. and the Old Jordan and Galena. at
| Bingham. u. T.. were also ordered closed.
| The owners of the following mines say they
| will CLOSE in few days: Sampson. at
| Bingham; Bullion. Breck and Champion,
| at Tintic: Caroline. at Eureka; Yosemite.
| at Bingham: Crescent, at Park City, and
| Anchor. at Park City. These have all been
steady and strong producers.
| Sentiments I'm the South the Silver Law.
BALTIMORE. June 28-The News to-day
| presents the result of q telegraphIc canvass
| of tie leading newspapers of the South
| showing that public sentiment in that Sec
| ton Is now overwhelmingly in favor of
repeal of the Sherman law. Up to a few
months ago the South had been considered
+ a free silver section, and the votes of a ma
jority of the Congressman were relied upon
To oppose the repeal of the Sherman act
and even to go further In the direction
| of enacting free silver legislation.
| Indian Banks Rails, "a Novel Point
| generally approve of the action taken on
| Sh all ya huf In