Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-06-28
NDIA'S SURPRISE.
Her Silver Policy the Topic of
FinanCiers.
IT'S EFFECT ON OUR OWN SITUATION.

LILO IiOl O1' OOlb " w " NJ O~A = AN]''
Views Expressed at Chicago, Washington
and New York-How 1t Looks to n Free
silver Statesman, Some bankers and an
Ex-Mint Director-Cleveland Not Likely
to Hurry That Extra Observation-Disclosures
Answers n Question.
CHICAGO. June 2S.-The silver question,
brought to such commanding place in
finance by the action of India in stopping
the free coinage of silver. continues TO
agitate the business men of Chicago.
Clinton b Evans, editor of The Economist,
when questioned said: Il regard the ac-
ton taken by the India government as
the most important financial event OF re
cent years. 1t forces the issue at once and
will compel immediate action by congress
as an imperative measure of self-defense.
1t ill enable the friends of sound cur
rency to jump TO a conclusion in legisla-
tion which they might otherwise have
been long tine reaching"
\ Banker Who l. Not Alarmed.
J. J. Mitchell. president of the Illinois
Trust and Savings bank, saw no occasion
for alarm. He thought that the position
taken by India would force this govern
ment to retire from its false position as
II compulsory tulNhftStt " SiiN'A- -h7'>N'-
about the probable effect on wheat.
William Dunn, for many years one of the
largest exporters of wheat on the board of
trade said he thought it would tend TO
curtail shipments from India.
William I. Baker said that wheat had
cut away from silver entirely in India,
which wa; one of the reasons the India
government had taken the action which is
now commanding attention.
VIVA; Is Thought at Washington.
Dispatches from Washington indicate
that the action of the India government
is the topic OF discussion among the con
greSSmeu there now. Representative
Anderson OF West Virginia, said the ac-
ton of he India government greatly en-
barrassed the situation here. He was a
free silver man. but he believed the cOndi-
tions at this time would have to he CON
sidered in rny legislation on the subject;
that we could not leCislate on the ccndi-
tons of ten on twelve years ago and that
congress would have to act in accordance
with things aS they find them and not up
on theories. Representative Meredith, of
Virginia. said matters were complicated
for the silver men
Gives Free Coiners More Trouble.
This action on the part of the govern
ment of India said Mr.. Boatner, of Lousi-
ana throws good many more difficulties
in the way of free coinage. Ihave no doubt
that had not this been brought about Mr..
Cleveland would, during the next session
of congress, have had free coinage bill
presented to him for his sanction or his
veto + cannot tell and no one can as yet,
think how much the decentralization of
silver in India will affect this situation"
fE-f' Hurrying the Extra Session.
Another Washington dispatch says that
one effect of the action of the government of
India has been to renew the demand for an
early session of congress, and this view of
the situation was presented to Secretary
Carlisle by many of his congressional
callers and by numerous kilograms from
all sections of the country. Before going
to the cabinet meeting Secretary Carlisle
received a cablegram from London an
nouncing further decline in the price of
silver to thirty-five pence. At this price
the silver dollar is worth fifty-eight and
three-fourth cents. The president at the
cabinet meeting, however, did not init
mate that he would change his plans in
regard to the extra session.
Carlisle Refuses to Talk.
Secretary Carlisle, in response to a re-
quest by the United Press to express his
views on the financial situation as affected
by the action of India on silver, politely
declined, saying that under the circum
stances he had no views for publication,
and did not care to indulge in speculation