The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-30
THE SILVER SITUATION.
SECRET1RY HERBERT on THE rot
ICY or THE DEMOCRATIC PARTY.
Consultation Between Mr.. Cleveland and
Members OF His Cabinet-India's Step
Discussed in House of Commons.

WASHINGTON. June 29.-Secretary
OF the Navy Herbert, I'm reply to an in
! quiry as to the silver situation and the
! policy Of the Democratic party, expressed
the following views:
II think the stoppage OF the free coinage
Of silver IN India Is the greatest blow
that has been given TO the Sherman law
and TO the free coinage Of silver. The
free coinage Of silver IN India has been
pointed TO us as an object lesson by tho
advocates Of free coinage in this country.
1t has been urged upon the farmers that
india had an advantage over the United
States in higher price for wheat. be-
cause the currency in In0i vas all
silver ignoring the fact that while they
might get more for their wheat in their
own currency, the price Ia gold was no
greater, and the commodities they bought
with the money they got for their wheat
had TO be paid for on a gold basis.
and still further overlooking the loss
through high exchange. It has further
been repeated. they said, that the high
rate OF exchange between India and
England was kept up by England for the
benefit Of English merchants, that they
might sap the very life out Of India.
Now the coinage of silver there Is vOlun-
tarily stopped. with the consent Of India,
and IL tumbles over both of these argu-
ments-that the silver currency was ht
for farmers I'm India and exchange was
on q system for the benefit of England"
'Do you think the silver question pre-
sents serious danger 10 the Demo-
cratic party a this timer
1T is a serious question, which the
conditions demand should be settled. l
think we have reached crisis. and that
the party in power will be judged by the
wisdom they show in giving the nation
sound currency"
He further said that ne believed the
Populist party were losing ground, and
that the teachings Of those engaged I'm il
would have no influence In shaping the
future for the Democratic party. He
said: Those who advanced the mten-
able doctrines OF the Populists on the
money question have formed themselves
into a third party which Democrats rec
ognize as an antagOnistic party. They
can no longer advocate their theories in
the Democratic councils. and as a third
party they are not strong enough 90 be
dangerous. That party organization |
which determines the nominations OF |
Democrats TO Congress and takes part i'm |
the making Of presidential candidates |
and Presidents Will adhere to sound |
Democratic principles and stand by a /
sound financial policy
Consultation Wih Cleveland
Consultations between Mr. Cleveland
and members of his Cabinet to-day caused |
considerable gossip. Secretary Lamont
had a long talk with the President in the
forenoon, and during the time it lasted
hc President would see no callers When
secretary Lamont retired the Senator'S
md Representatives waiting TO see Mr.
cleveland We're hopeful of obtaining an
audience, but Secretary Herbert appeared.
nd he and Mr.. Cleveland went into am
'ther long executive session. When Sec
etary Smith relieved Mr. lHerbert there
vas retreat of those outside the
residents doorway and other members
II the cabinet were also clOsotcd with /
lr Cleveland during the day. The report
pread that Mr.. Cleveland was consulting |
With reference 10 the advisabnity of call
lg an extra session Of Congress earlier
han September but there was no foun-
alton for the story. There Is reason To
elieve that Mr.. Cleveland intends To- leave
le city within a few days for long
,ay at Buzzard's Bay, and that he and
rs matters so that DEE could leave. A
congressman is authority FOR the state
lent that Mr. Cleveland told him he
ould take up no new appointments
lille the financial question is at such
-itical point, but would continue 90 issue
lmmissons 20 candidates whose appoint
tents had been decided upon a large
umber of Treasury appointments were
creed upon by the President and Score
ny Carlisle last night and win probably
p announced tomorrow or Saturday q
mong them are j. T. Tillman. OF Tcnnos- 7
e, for Register OF the Treasury. TO sue q
ed General Rosecrans, resigned. {
Inquiry in the British House. @
LONDON. June e9-Further inq1irv /
is made i'm the House of Commons TO- J
y regarding the effects Of action fn d
dia I'm stopping the free coinage of y
yer. I'm response Mr.. Russell. parlia- O.
'ntary secretary Of India. said that q
ither the Government OF India nor the q
rschen Committee expected prices n q
iia TO be materially altered under the D.
w currency arrangements. ~
ieorge j. Goshen. who was chancellor 70
The EXchequer i'm the last Cabinet Of q
rd Salisbury, asked whether the Her is
lell Committee and the Government | p
d been prepared for the great fall that b
q already occurred I'm the price of sil- Of
r. Would not he inquired. The fan b
dify the views Of the Government and
? committee? y
lr. Russell said that he could not
iwer for the Herschen Committee. I'm 9
ard 10 the Government me would leave
. Goshen 10 form his own opinion.
lr. Gladstone said that the Govern r.
nt had the impression that there was o.
likelihood OF any serious fan in the q
ne of produce in India. In case such oI
would occur he would readily state c,
views of The Government IL
Discussing The Banks Claims.
IMLA. June 29-The Indian Govern u
ut is discussing the claim of the va OF
us banks which have u.5OOO I'm an
'er now on passage TO India. and ga
len want compensation for the depre- "
lion I'm the value of the metal arising o.
m the action of the Government I'm de
stopping Of the free coinage OF silver. pm
is said that the Government is in I'll
ed TO secure the banks against any