The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-06-28
QUESTION OF WHITE METAL
It Is the Absorbing Theme of
Conversation Everywhere.
CONSPIRACY Is CHARGED.
England Making One Great Effort for
Single Gold STANDARD.
Views of Financiers on the subject-A
Lengthy Cabinet Meeting and the Com
illusions Reached-The India Cor
respondence Made Public.

WASHINGTON, June Ex-senator Dolph
of Oregon, the only Pacific slope senator
in the city said this morning said: liam
opposed to my colleagues you know, on the
subject OF free coinage, and am in favor
of maintaining all currency on par with
gold, but it seems to me that this action
of the Indian government will diminish
instead of increase the prospect of passing
q repeal of the Sherman law by the Senate.
/ think the effect will be to make thought
full members of Congress hesitate before
they further depreciate all silver
by suddenly throwing upon the markets
of the world 1850, 600 ounces of silver,
equivalent to nearly the whole American
product now purchased and held in stock
by the government. l do not know that
anything better than a repeal of the Sher-
man act can be done to relieve the situa-
ton, but am fearful that repeal of that
act would be disastrous to the finances of
the government and silver"
The senator further desired to correct a
published statement that he said in SUBJ
stance, that Cleveland would not be able
to command the presence of Congress at a
special session, and that for himself he
should not come to Washington until
Sept. 80. He might have said that Con-
gress should not, on account OF the hot
weather, be convened earlier than the
Both of September, or that he did not ex-
pect to be in Washington till the Goth,
but ne said nothing indicating any oppo-
eition to Cleveland, or that he would not
be on hand whenever Congress was
called. He probably would be better
supporter of Cleveland's financial meas
ures than majority of Democratic sena-
tors.
Among the other opinions obtained re-
H. 49, &C., L.
ton OF the Indian government were the
following: Representative Oates says he
is hopeful of a speedy settlement of the
question when Congress meets. He
thinks the most logical and common
sense thing will be to repeal the Sherman
law and the law levying a 10 per cent.
tax on state bank currency and provide
for the free coinage of silver at such q
ratio as to place it at parity with gold.
A. j. Warner. of Ohio, president of the
American Bi-Metallic league said: "The
stopping of the coinage of silver in India
lnaugurated new monetary revolution.
1t is movement deep-seated and will
be far reaching in its consequences. The
closing of the minis OF Bombay and CAL
cutta is part OF a gigantic conspiracy to
seize upon the present opportunity to
finally and forever fix a,siagle gold stand
ard, and to extend it over the world.
1.-The Immediate consequence will be
that silver will fall and gold will increase
in value faster than ever, prices will fall
away where gold rises and every advan-
tage will inure to creditors and creditor
nations England has set out to subdue
the world not with arms but with gold.
'sWhat is there lett to do but for the
western continent, under the lead of til e
United States, to unite and act indepen-
IDENTIFY, and establish a financial system
founded upon equity and calculated to Sc
cure stability in value, and one which
will keep an even balance between debtor
and creditor, not one calculated to rob
with impunity the debtor for the benefit
of the creditor? A national convention of
the american Bi-Metallic league has
already been decided upon for the latter
part OF August at st. Louis or Chicago. -
Secretary Carlisle, in response to a re-
quest to express his views on the finan-
cial situation as affected by the action OF
India on silver, politely declined, saying
that under the circumstances he had
nothing to say for publication and did
not care to indulge in speculation as to
the future.