The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-28

. ansis ssssine. The kstsoes q ~ scbsass -
sssAssi 70 p-sssns f7}sAss fan - sxdhanse
shsn 81 rsiss the vs;us Of tie Yupae The exfng
Of tas;prorfssosAi rate OF s1ehanSs ae - - pro-
vsdsd Fan sutorasse means Of psvysnttn9 the
esossnt OF tie rinss and the vsoasrt di.sursing
ct exeNsnss ssssa Tie RAE OF exehangs had
bssn tsxsd higs erosgh % Seiievs the govern
msas II fhs utmost reosstng noeossjftss. while
IL vss!vesi within the limits a ssesas auesus-
sioea There should - no nistaks ssozt the
fsefA :It vss not psopossd % 81 hss;suts god sof
sfivss jearsrcr and 10 attempt would b made
q; pset<ns 10 Gx the se9a, sendsr price for gold
wniisNks ratio Of value vas mentioned. IL VS.
only rSovls.oasi In conclusion the vicesoy ex-
psessst the govssnmsas's sense OF tas gravity
Of the pep IL 80 ssout 70 take Psrsonsliy hs
vss s';srss 70 Gil stssnpfs 70 give monsY coa-
mobiles fesit:ors vsluss. but the time aad ar
rived sseu 20 1emain inactive was tDpossibsA
TIE essvsrnmsns VOC b unworthy o. - name
II Is .sts thtngs sionA II he'd NOT taken this
raosaseious step with light heart He hoped
iss ACTON would b irsit;uI in good results. snd
that asuescieat reserve Of gold would - sceu-
Eulssf 20 make "a elective gold standard poo
alba
CAli-rrTA. June 17.--General satisfaction
Is expressed ~ the acsion regarding the
cure; lcy yesterday. and government -
cursttss have risen rapidly.
beswsisn the government Of India and the
Indiah ONCE has been made pubnc. It
opens: With letter from the Indian council,
undet, date OF March 8. urging the home
soverrment to aid in the settlement OF the
siiyeriquestion BY IN international agree
ment; snd failing in this not 10 defer de-
Terminating the policy Of India. for II an
interp ational agreement should not b OBJ
tainss. the United States might suddenly
stop zhs coinage Of silver. leaving India
uppr:pared.
Otksr communications discus the fail In
rupee values and fluctuations in rates Of
exchange. The council. In letter written
in Jusss. advises that Ii the international
monetary conference At Brussels fails and
. dirics agreement between India and the
United States cannet b attained. the
m!ntf Of India b closed 10 the frss coinage
Of oil 5er and the gold standard be intro
ducsti. Barbour. the financial secretary
for Jndia. opposes the stoppags OF
free coinage until IL becomes evil
dent that the United States will
not adopt free coinage. Mr.. Barbour
estimate that the. total active circulation
Of Iniiia amounts to l,i5O 00O. 900 rupees,
whtiss much larger proportion Is boarded.
To establish full legal tender currency
comr;,sed entirely OF gold. it would DO
necessary to withdraw from circulation
II0 10000 rupses. replacing them by
77,oa0. 900 sterling in gold. He therefore
contends that with . gold standard in
IndiE. large proportion Of the circula-
ton must continue in silver legal tender
70 sny amount. II both metals b main.
tanned In circulation, gold coinage to the
total amount Of xl5.D0. 900 will suffice for
. long time. In minute report 70 the
council ia August, in which he discusses
the adoption Of the gold standard. he con-,
ciudea by suggestion that the ratio Of
conversion be about 70 20.
In subsequent telegram from the Earl
OF Kimberly to the viceroy Of India. dated
June Z. 1903. the former announces the
fecons msndation Of tho Herschell COM
mission, - adopted BY the council At
simlA yesterday. In advising the Indian
government to exchange gold ut the rate
Of II I'd 70 rupee. the commission says
the object II 70 guard against sudden
rise in exchange. and that hereafter the
ratio ought to be raised II circumstances
make: IL advisable.