Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-09
ENGLAND PLUNDERINa INDIA.
Alleged Eject of the Stoppage of Sill.
yer Coinage.

AAAe8eu ESueCt Oh the StOpp0Ge OF S11.
yer Coinage.
In the house Of commons yesterday af-
ternoon Mr.. Chaplin made a motion that
the house go into committee to discuss the
financial situation in India.
He charged the government with per-
sistently obstructing the discussion of this
question. and said that the changing Of
the Indian currency system before aliowin g
parliament to express an opinion on the
matter was a subject Of urgent public i'm
portance. II the house had waited for the
Indian budget 1t would have been some
time in October before 1t would have got a
chance to expose the troubles arising from
the governments indiscreet action. He
could not. he added. blame the Indian gov
eminent. which had found itself confronted
with bankruptcy on one hand or the clos
Ing of the minis to free coinage on the
other.
The latter policy was full of danger to the
commercial interests of the world. This
policy had been practically forced upon the
Indian government by the attitude Of the
imperial government.
The government of India had escaped a
deficit by tampering with the currency
and artifcfally raising the value of the ru-
pee. The effect of this action had been to
lower the pro tanto value of everything
else.
The government had virtually mulcted
II
had hoped would not be discovered. The
closing Of the Indian minis to the free
coinage Of silver had necessarily led to a
month as the world had never before
known. There had been a tremendous
wrong done to the people of India, who
metal
By a single stroke the government had
deprecated by Is per cent the value of the
silver held by the population of India. A
more fragrant act of public plumber has
never been perpetrated by a civilized gov
eminent. The result had been a convulsed
financial situation from China to Peru. II
the repeal by the American Congress Of
the sherman act should become inevita BILE,
II would be partly due to the error that had
A further fall In the price Of silver must
follow the repeal of the Sherman act
:. Frequently during his remarks Mr.. Chap
'Hearr'
Mr.. Chaplin. in concluding. demanded to
know whether the government, before taxi
Ing this action in India, had held any COM
munication with the United States govern
ment and whether the government. with
their eyes now opened. Contemplated per
sfsting In the great wrong.
The loss to holders of silver securities.
he said. was already nigh f200, 0O0. 900. for
which the government must be held re-
appreciate gold throughout the world, while
increasing commercial difficulties every
where.
Sir William Harcourt, chancellor of the
excheQuer, declined to enter into gen.
eral argument, but he was quite prepared
to defend the changes in India.
The course taken by the government, he
said, was indicated to them by the royal
committee In 1888, which pointed out the
dangerous and mischievous effects which
bimetallism, II adopted, would have upon
India.
The government stood by those views
That committee had recommended that
India should have a free hand to deal with
the matter. but should not involve the
mother country by altering the funda-
mental principles of currency, as that
would do evil both to India and to the
empire at large
Referring to the proposals of the United
States at the International monetary con-
ference at Brussels Sir William said that
the United States had proposed that the
conference should entertain the question Of
some measure for increasing the use of
silver in the currencies of the nations
AS matter of fact, England had been
almost the only power prepared to sup
port such resolution as far as II would
not AFFECT international British currency.
the indian currency question had been
reserved. In conclusion Sir William speak
ing generally, denied that the populace Of
India were suffering, as they were alleged
to be-
Dadabhai Naoroji, the Parsee member.
protested that the natives of India already
felt the pinch of the change, and that
they would soon awake through suffering
TO the wrong done them.
sir William Harcourt moved the closure
OF the debate. The motion was carried
without division