The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1893-06-29
MORE OF A PROBLEM.
India's Action Complicates the
Silver Situation.
THE CABINET TAKES NO ACTION

1t Merely Decides to Purchase Less Silver
Monthly and Await the Extra Session of
Congrcss-senator Dolph and Several
congressman Talk.
WASHINGTON, June 2S.--One effect Of
the. action of the government Of India
has been to renew the demand for an
early session Of congress, and this view
of the situation has been presented to
Secretary Carlisle by many Of his con-
gressional callers and by numerous
kilograms from all sections of the coun-
try. Before going to the cabinet meet
ing, Secretary Carlisle received a cable
gram from London announcing fur
ther decline in the price of silver to 80
pence. At this price the silver dollar
is worth So 3-S cents.
The cabinet decided that the execu-
tive had no power in the premises, con-
gress alone being able to deal with
measures for relief. 1t was plain to the
cabinet that the monty purchase Of
silver must be continued or else con-
gress must be convened in special ses-
sion Immediately. AS the president had
decided to call congress together in the
early part of September TO deal with
the financial situation, and manifesto
no intention Of changing his stated pur-
pose, the project of an earlier session Of
congress, it is understood, was dropped.
So far as the continuance of the Dur-
chase of silver bullion under the Sher-
man law was concerned, it was decided
to purchase only 100000 ounces, n
comparatively small amount in view OF
the previous purchases.
Senator Dolph of Oregon, who is the
only Pacific slope senator in the city,
said: II am opposed to my colleague,
as you know, on the subject of free
| coinage, and am in favor Of maintain
| ing all the currency ON par with gold,
but it seems to me this action Of the
| Indian government will diminish in
stead of increasing the prospect Of pass
| ing a repeal of the Sherman law by the
Senate. 1 think the effect will be to
make thoughtful members Of congress
hesitate before they further depreciate
the value Of silver by suddenly throw
| ing upon the markets Of the
| world the 4,500,OO0 ounces of
silver-equivalent to nearly the
| whole American product, now pur-
chased and stored by the government.
/ do not know that anything bettcr than
the repeal of the Sherman act can be
| done to relieve the situation, but | am
fearful that the repeal OF that act
| would be disastrous to the finances of
the government.
Representative Anderson of West Vir.
| ginia said the action Of the Indian gov,
ernment greatly embarrassed the situa-
ton here. He was a free silver man
but he believed the conditions at this
time would have to be considered in any
legislation on the subject; that we could
not legislate on the conditions of 10 ol
10 years ago, and that congress would
have to act in accordance with things
as they find them and not upon theories
He thought a great many silver mel
We're disposed to agree to some com
promise, but the matter of detail Coult
not yet be determined upon.
! Representative Meredith of Virgini;
said matters were complicated for the
silver men. He thought the Sherman
law would be repealed, but he did no
care to guess as to the character of tn
substitute for it.
"This action on the part of the GOV
ernment of India" said Mr.. BOatner o
Louisiana, throws a good many nor,
difficulties in the way of free coinage
/ have no doubt that had not this beei
brought about Mr.. Cleveland would
during the next session of congress
have had free coinage bill presentet
to him for his sanction or his veto"
Representative Oates of Alabam
thinks the most logical and common
sense thing will be TO repeal the ShoI
man law ana the law levying n 10 pc
cent tax on state bank currency and +
provide for the free coinage of silver a
such ratio as to place it at parit
| v.yst1, cold