The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-29
Yesterday Bullion Dropped to 81 Pence Per
Ounce in London and Closed on the New
York Exchange at 6S Cents.
First Monday in September the Date
Now Fixed for Congress to Meet.
Sentiment of Bankers and Others on What
Should Be Done Representative Bland
Not Disheartened by lndia's Action.
STILL TOBoGGANING.

Silver Drops To 6S Cents Per Ounce-Extra
Session of Congress Gossip.
WASHINGTON, June 2S.-Secretary Car.
lsie s mail, this morning was loaded down
with letters from bankers. commercial men
and others calling on the President to con-
vene Congress at once in extra session to
consider financial legislation. The pressure
10 great, but there is some official authority
for the statement that Congress Will not be
convened before the first Monday in Sep
TENDER. A Cabinet officer. speaking of the
financial situation, said, this morning.
there was no doubt In his mind that the
repeal of the Sherman law would bring
about much needed relief. whether tempo
rary or permanent time alone could demon
sJrate. Still there was certainty. even
now, that Congress would repeal the Sher-
man law. The House was more favor
able to its repeal than the Senate. He
animated that if the President were con-
vInced that Congress would immediately
repeal the Sherman law that body would
be called in extra session before Septem-
Der. But" he continued. 1.-The lesven is
WORKING"
According to treasury advices silver con-
tinues to decline. the price III London. to-
day. being SD per ounce. This makes the
silver dollar worth to-day. as bullion. 81
cents. Since the treasury went out of the
market as purchaser of silver, June 81.
the price has declined from 500 to 1879
cents per ounce. AT New York, to-day.
bar silver closed at IS cents. Next Mon
day, July 8, is the time for the next pur-
chases TO begin; but it is limited at the
Treasury Department that purchases may
be delayed until July or Z. The Star says:
The talk of the radical silver men since they
have got over the first shock of the news from
India Is rather defiant. Most OF them declare
that they more than ever determined to
maintain the white metal as money stand
ard. While admitting that the decentralization
In India Is a hard blow at bimetaliism at the
present ratio, they speak OF 1t as conspiracy,
and insist that 1t Is more than ever important
that this country should stand by silver. They
claim TO be firmer than ever in their position
and say that they intend to fight with all their
silver. The more conservative men, how
ever. regard this whistling against the
those men who are known as moderate silver
men, whose votes in Congress have given
to silver the strength which 1t has had against
the repeal OF the Sherman law. will be induced
to look upon it differently under the existing con-
ditions, and while the radicals will fight hard
as ever against the repeal OF the bill they will
lose many OF their followers in the House and
some In the Senate Those men who are not
actually welded to silver bat vote for free coin
age because their constituents think there should
be more money IN circulation, will, it is believed,
find in the present situation an excuse and q
reason for voting the Sherman law off the statute
books, perhaps even without any sort OF substi-
tute as compromise.
Representatives Boatner of Louisiana,
Oates of Alabana. Anderson of West EVir.
GINA, and Meredith of Virginia, all of
whom voted for free coinage in the last
law must be repealed at the earliest Dossi-
Ole moment.