St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-06
ENGLISH DISCUSSION
OF Free Coinage of Silver in India
and Its Suspension.

LONDON, Aug. 5.-During the recent
discussion Of the estimates Rt. Hon,
Henry Chaplin, who was president Of
the board of agriculture in Lord Sails
bury's administration, attempted to
raise the Iong-deferred debate on the
question of bimetallism by moving a
reduction of the salary drawn by the
prime minister.
Every bimetallist member Of the
house was on the alert, primed to att
tack the government for suspending the
free mintage of silver IN India, but
their hopes of ventilating their views
and OPINIONS were Quashed by the chair
man, who ruled that the motion was out
of order. This decision was highly graft
flying to the ministeralistS, who are
anxious to avoid the long discussion Of
he question. The bimetallsts are
anxious to avoid as long as possible
an official exposure of the failure of
the India currency policy. A feature
of the position is the continued nom
success of the India concil to sell thei r
drafts on India. On Wednesday last
bills to the amount of forty laos Of
rupees were offered without an allot-
ment being made. The only tender made
was for ten laos at Is 33ld per rupee.
The tender was refused. For five con.
secutlve weeks the India council has
failed to obtain tenders for its bills, be-
ing unwilling to make allOtments ex-
cept at Is I'D or the smallest fraction
under that price. Currency experts
differ in opinion as to whether the
council can hold out in maintaining the
price of its drafts at fixed premium,
and as to what the result of such an at
tempt will have on the currency strug-
gle generally.
William Ii. Greenfield, who has here
tofore supported Mr.. GladstOne's pOlit-
ical and financial policies, has with
drawn from the Liberal party, solely, IL
is said, because of the government It's
action in regard to the India currency
question. This fact, together with the
speech made at the mansion house
meeting on Thursday by Mr.. BalfOur,
when the principal bankers of London
aud other business men assembled to
consider the situation, has again reused
the c0untry's interest in the financial
question. Though Mr.. Balfour in his
speech declined to commit the Con-
Seratlve party to bimetallism, it is an
accepted fact that that party is intend
ing the adoption of double standard
as a plank in the Conservative plat
form.
Mr.. Sadana Horton, the American ex-
pert, who was one of the attendants at
The mansion house meeting. was sub
sequently interviewed in regard to the
outlook for the double standard. He
said he hoped the American people
would realize that American silver was
not yet dead. If the names of the gen.
tlemen who were present at the man
sion house meeting were communicated
to Washington, it would be seen how
all the great business interests had been
represented, and the press boycott
against silver would break down. For
the sentiments expressed by Mr.. Bal
four the papers simply scold him, like a
hen when the ducklings she has Matched
take TO the water.
The editorials On the subject prove
nothing more than the mental feeble
ness of the enemy.
Mr.. Horton added that it was pity
that the leverage obtained could hardly
be we'll utilized.
With the holidays begun, laborers
were few, and all those now agitating
the subject were volunteers. As for the
opinion Of the continental countries,
Mr.. Horton further said, nothing seems
to be known of the Inducements.
There is no organizing, no diplomacy
for this business. internationally, that
condition of affairs had been the rule
since 1885, with rare exceptions.