Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1893-08-10

ShoulderinE the Load-Ennkcrs Here Do
Not Take to the Scheme.
NEW York. Aug l0.-The sun says to
day: Several exceedingly interesting cable
grams from London were received in Wall
street yesterday. They We're not made pub
lie, nor are they ever likely to be. They
We're sent by London banking houses o.
the highest repute to their CORES nondents
here and were as confidential as they were
important Their purposes would not be
I 'lrarly set forth by reproducing them, even
it were possible to do SO. Hence it is
more cxpedient to give their substance and
bearing.
On the strength of the information CON
veyed and inquiries made by these Lon
don bankers it can be stated that the Eng
the prospects o. III, repeal of the Sherman
silver law.
The members of th., cabinet are discuss
ing, possibly informally. the ACCESSIBILITY
of making n proposition to the United
States that II ii will continue the purchase
of silver under the act of 1890 the Indian
government will reopen its minis to the
free coinage of silver at the ratio OF "a to l.
Why They send : Gold.
1t is understood that the government
| has been induced to sound official and tinan-
cial sentiment in this country relative t.
such a proposition by number of circum-
| stances Chief among these is the rapid
| withdrawal of gold FROM the Bank Of Eng
| land and other sources of supply for ship
ment to the United States
1t is recognized abroad that this move
| memt which is to II large extent natural
| that is, based upon the shifting of the bal
| ance Of trade. is stimulated by the premium
| which gold now commands here as cur
reucy, and which is very much larger thar
the premium paid by Austria and othe
| Europeans powers to stimulate exports o
/ gold from the United States when the bal
| ance OF trade was in favor Of Europe.
| Another factor. it is said, is the dissntis
faction of English manufacturers and o
| bankers and merchants in India with tn
| decision of the Indian government. whicl
is really an agent OF Great Britain, TO clos
the mints of India to the free coinage o
silver.
The government, il is said. wishes to IT
treat from the step it has taken. and at tn
same time desires to induce the Unite
States to continue the burden it has born
in the past by purchasing silver bullion
1t is not impossible that early publicf
tion Of the plan which the British cabine
has under consideration may prevent it
| formal PRONUNCIATION. That. however, wi
| not obliterate the fact that the propositio
| referred TO above has been considered up
| point that renders it advisable to asce
1 tain the sentiment in certain innucntiI
| circles here.
Bankers who were advised of the inqui
les made yesterday. and they were con
paratively few and Of the highest raul
were surprised at their character At II
same time they regarded the policy ind
Gated with great complaceucy. The poir
was made that. for the first time since II
silver question had become vital one an
n of international Importance. Great Britai
had. indirectly or covertly. suggested
I ratio. OF course the insincerity of the SUI
EestiOn was promptly detected. for it r
lates TO the finances Of one OF Great Bri
aims dependencies and not directly to i
own financial affairs
Treats Is with Contempt.
II other words the suggestion actual
| puts the United States in the same sat
| CORY Is India. This country is by iufe
encr that admits OF no doubt treated as
minor monetary power. 1t Is hardly nee,
sary to add that the inquiries cabled her
presumably at the Instance OF the Englr
government, did not elicit expressions
vorable to the making of oNerturrS up,
the basis suggested in the cableGrauss.
The substance OF these dispatches W
=, | communicated last night TO certain OF
= cialS at Washington with the purpose
| eliciting their views.
Upon one point it is entirely probSt
II, that Washington will entertain, even if
| does not express the same view that W