Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1893-06-29

WAsn1NGToN, June 27.--Two hours were
consumed by the Cabinet to day in discus
sing the new phase of the silver question
and other matters demanding attention.
The two conferences yesterday afternoon
and evening between the President and
Secretary Carlisle simpltied matters to
some extent.
Although the discussion. it is said, took
awlde range, it was necessarily brought
HbnCk to one important and unmanageabke
Npoint-that the executive had no power in
n.y. EtITrees, Congress alone being able to
deal with the measures for relief IL was
plain to the Cabinet that the monthly pur.
chase OF silver must be continued or else
ConSresS must be convened iii special SEES
sion immediately.
As the President had decided to call Con
gresS tusetherin the early part Of Septen-
Der 10 deal with the financial situation,
ana manifested no intention of changing
nus stated purpose, the project Of an earlier
session OF Congress, 1t is understood was
dropped. So far AS the continuance of the
purchase OF silver bullion under the Sher.
man law was concerned, it was pointed
out that little more than two months re-
manned before Congress would convene in
extra session, and that during the inter
Senlng time the silver To be purchased
\ would be only 9,O000O0 ounces i cumpar-
atlvely small amount i'll view OF the prcyi-
GUS purchases
This was generally agreed to. and il was
with this view dominant the meeting ad-
jonraed.
THE SHERMAN ACT DOOMED.
1t was generally admitted to-day bv
men Of all opinions i'll public life that the
demonstration OF silver by India would
help to bring about the repeal of the Sher.
man acl and would prevent the passage of
W Y Tree coinage bill. Those opponents of
NI SHHHt1t,t NOT t.,tNl ln,. H.
" eating an extra session before September
y We're disposed To think that the news from
I London furnished the last argument
A necessary for an immediate repeal of the
obnoxious law, aud therefore for the i'm
mediate assembling OF Congress. But
these men arc moi in the confidence Of the
n PRESIDENT, WHO auhCfGS 10 his determine
ton moi to call Congress here until Sep
~ tember, believing that by that time, and
"a not before the Ill effects OF the Sherman
act Will have wrought their perfect work,
while II viii then De possible, rs il is not
IN now. to know the effects of the action OF
VA the Indian government. and to make any
"a recommendations rs to new financial legis-
lation that might seem necessary to Con.
I srcss IN view Of them,
AN There is little doubt that the large i'm
ports of silver into British India will fail
,H oil, in spite Of the large demand for pur-
II poses OF ornament. These imports from
a . G',s IN ~, ~. ,.t.Hsi Wy a,uoHht ol
VIZ dollars ut the old ratio Of silver 10 gold.
EN ilesc are tic figures of Professor SOCtDccr,
,l :, ',i,th ~ tllc SliEeg ueatloil,
~ ~ 81 tiu u'Itctor o. thc mint
NhIva foljowed ayer.,,in,, 3hnm, III nm, nm
per year. ]. is moi expected that INC In.
Bdian government will make an effort to
'tunlOad TINS SILVER, and the bulk Of it will
Fprubably remain in circulation, main
YJained III parity BY the guarantee of the
government to redeem it in gold. The
&essc.tIll facts OF the situation are that
MlnGIa wlil cease to be "a large importer of
#silyer and that she will become a larger
HinmNer than ever OF gold.
E How far and how last the Indian gov
BerumcuL VIII proceed i'll substituting gold
MfOr silver becomes, therefore. n vital uues.
@llph. II the substitution proceeds with
-ial@,''tE' u Is saiu ny those VINO are tamil
H ~ VIM w aHPi'lE % the precious metals,
69.h' s.i'' ino'u ~ bViu VIII pecoiNc 50 inter
st" W li'.'i 'u,tIes anu tis countries ut
".S,v' = h.iiolt vii ~, ~ ~ uallaef 81 los
~ WI teset Ilis situatioi may
~ Y "no l hsaii Juse VIM thc siiFet men
lN H., . 'ielh 't ior ofoauer OASIS Tor
N Hes tiiaii llie slilsle metal solu.
~ Sual'etS'o ~. q SILVER coinage az the
II iah iI'tita y liNtly 70 uestroy the Lon
Il llathat l3r silver aila leaYe the liking
" ll,uc y ti'G ihetai ~ tnls tunhtry
T. ~ nmcin st,,at Nv - ~ is t,,, NJ
!. the action Of India. SAVING that Under
s. circumstances. he md no views Tar
n i blicaliOu and did NOT care II .ndnipe il,
"A uulutlon AS 70 future etfects
IA mil, ,,tsr,,,,,,n,,
N ~ ?" hHhAN Law
" .ihlfty.eght ~ the Leading business
n houses OF ihItaSo' on Monday, sent q tele-
EBFahl 10 lTeSIieht cleveland expressing
thelr opinion that me chlei cause OF the
Egresent llllallcihl troubles OF the nation is
VINE sherman Si!NtI plii, ana urging that
rhe subject ne discussed ut the next Cabinet
meeting.
Resolutions tavorng, the repeal Of the
sherman silver BIZ and nearly session Of
onSress nave been adopted BY the Board
! Trade and transportation Of Cincinnati,
hlo.
lnited Press Dlsnatcn oy Special wires
CHICAGO ILL.,, June 2s.-rhat the action
40 coinn,,a ~ Siiver ,rtIl NM, a Ge,,ra ,i,S,
nduencn In liz Ifnited srntes IL tbo t,o 70
ri onlninn In the haniSin" circlrs II 25hi.
.agn NAM cnnaidor tha, IA o,i,, ,,,otlna
tral;of IL. Il, ia IL AIM, S,,,I "
10 Shor,,,, si;i,ar ~; =, i; ~ -
Vii not %niv rsstn , % '' :, III,
nnntrw III will Lo,,o ,t,,id ~, h.1,aa
y sho;yin,t NM this ,oSermr,a,,t i wiiIina
4 fnIiow in the weIi-triad IinaS " IA
yori1 Gnanci,I aTnnrts ''''S' y ~
'oA'' -
WHAT LEAplN" flNANciERs SAY.
Following are the opinions OF some of
the leading tlnahclers
Lyman j. Gage, president of the First
] National Bank-"l do not know exactly
what was the action OF the Indian govern
iment in the matter, but it Is evidently I'M
favorable 70 a free coinage Of silver, which