The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-06-29

Nsw YoRK, June 2s,-Bankers re-
ported an easier condition in the money
market this morning. There were no
extraordinary shipments Of currency
reported up to noon; no telegraphic
transfer Of money has been made to
San Francisco, the demand from that
section was believed to be over, and
the only thing noticed out Of the ordi'
nary was large number Of demands
for rediscounts from all over the coun.
try, The silver question waa'the chief
topic Of discussion on Wall street.
Later in the day the clearing house
committee Issued s1,SSOoOO Of clearing
house loan certificates, making the
total amount issued S0,360, 900.
There was much talk in Wall street
az to the reasons which prevented tho
President calling Congress together
immediately. One report was to the
effect that the President, in conyersa'
ton with a loading member OF the
house, had said, while there was no
reasonable doubt about there being
majority in the house favorable to the
repeal Of the Sherman law, Is was by NO
means certain that like result would
follow in the senate, and that this un.
certainty OF the senate was the prinCi'
pal factor against the calling Of an extra
session earlier than September. An
intimate friend OF tho secretary OF the
treasury, in conversation with q re.
porter, said that, according to Mr.. Car"
liBle, a'canvass Of the members OF Con.
gress had been made two months ago in
behalf Of Mr.. Cleveland, with the result
that 1t was learned that there was q
majority Of tho house Ia favor Of the
repeal Of the Sherman silver law, but
that in the senate there was majority
OF twenty the other way. II was be-
lleyed that enough senators eleven at
least) would be converted before Sop
tomber to enable a repeal measure to
be epassed In the upper house.
An ex.treasury official, when asked
about tho effect Of the stoppage Of free
silver coinage by the Indian mints, said:
''This is a very complex question, and
until We know just exactly what the
British Indian goyernments intentions
are, It Ia impossible to discuss the ques.
tion thoroughly. In some respects it
may possibly bo a good thing Tor this
country. Heretofore an English mer.
chant has been able TO buy, say a,dol.
lar'sWorth OF silver for sixty-eight cents,
and have 1t coined into q dollar (lndian
money! with which he could buy a
dollars worth Of wheat, and that gave
him decided advantage over the Amer.
ican. The British government will no
doubt try to avoid interfering as far as
possible with commercial interests not
only In their own dominions, but with
the rest Of the world. They are always
very conservative"
Henry W. Cannon, president Of tho
Chase National Bank, and one of the
representatives OF the United States to
the international monetary conference,
said: 1.-THE closing Of the Indian mints
to the free coinage OF silver will not, in
my opinion, have any Immediately dis
tressing effect upon our trade or COM
merce, although 1t must, Of course, do.
preClate the prico OF tho white metal.
Our merchants, as q rule, can ADJUST
themselves to a fall Of prices occurring
in the east without any serious loss,
and the United States is In better poai.
ton to ward of any depreciation In
silver than any other country.
aAlthough the annual production Of
silver in this country is largo, India
and the east, France aud tho Latin
union are tho largest holders Of silver
money, and, Engnnd's attempt to place
India Upon gold basis may not be sue.
cesstul, as II appears from the dis
patches that the rupees relation TO the
sovereign will be similar 70 the relation
fthe so.callod Bland dollar to the gold
dollar. In other words England is on.
deavoring to establish fixed ratio bo.
tween gold and silver for the transac.
tloh OF business between herselt and
her depOndency-Inlla. This will be q
very difficult matter to arrange to the
satisfaction Of tho poople Of India and
tho manufacturers OF Great Britain"
Y,T a NtN,9 IyTIrIVo