New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-09
INDIES SILVER PROBLEM.
BITTERLY DENOUNCE LIE
CLOSING OF THE MINIS.

pIrNDER THEY SAY-THE CHANCELLOh
OF THE ExCHEoUER's HEPLY-AMER1
CAN PROPOSALS At TIE NONE
TARY CONFERENCE.
London, Aug s-IIcnry Chaplin, president OF the
Board Of Agriculture in Lord Sarbury's I''e
cabinet, asked leave in the House Of Commons
20 move the adjournment Of the HouS'. III
o,uer that the changes in the Indian currency |S
TEN might he discussed =
In speaking to his motion Mr.. Chaplin hlanif"
the Government for persstently obStructlng ur-
cussion Of the question. The changing OF WV
Indian currency system before allowing Parliament
to express opinion the change was hator
Of urgent public Importance. III In" House hau
waited for the Indian budget it would have Deeh
some time in October before it would have So'
chance TO expose the troubles arising from tue
Governments indscrcct action. lie could not, ~
added blame the Indian Government, which han
found itself confronted with bankruptcy on olc
hand or the closing of the mints To free coinage
On the other. The latter policy was lull OF dan-
ger TO the commercial interests Of the world lhis
policy had been practically forced upon the IN
dian Government by the attitude OF the lmpet'a'
Government. The Government Of India had es-
capped a deficit by tampcrng with the currency ana
artificially raising the value Of the rupee
The effect of this action had been TO lower Ivy
lust so much the value of everything else. The
Government had virtually mucted the natives OF
India by methods which it had hoped would not
lc discovered.
The closing Of the India mints to the free coiu-
age of silver had necessarily led 10 such ial'
in the value Of that metal within month a the
world had never before known There had been
tremendous wrong done the people of India who
had enormous quantities of uncoincd metal By
a single stroke the Government had deprecated
by II per cent the Mc of the silver held by the
population of India. more Migrant act OF pun
lie plundcr had never been pcrpctratcd by CIV
ilized Government. The result had been a con-
vulscd financial situation from China to Peru.
If the repeal by the American Congress OF the
sherman act should become inevitable it would
he partly due to the that had been COM
mittcd in India further fall in the price Of
silver must follow the repeal Of the Sherman act
Mr. Chaplin. in concluding, demanded To- know
whether the Government. before taking TINS ac-
,ion in India. had held any communication with
the United States Government, and whether the
Government. with their eyes now opened, intend
cd TO persist in the great wrong The loss to hold
crs of silver securities. hc said was already nearly
eooO COO. 600 for which the Government must he
held responsible Their action could not fail %
apnrcciate gold throughout the world while in
crcasng commercial dinicultie, everywhere.
Mr.. Chaplin WIS frequently interrupted by cries
of Hear. :" Hear"
Sir William Vcrron IIarcourt. Chancellor of IN"
Exchcoucr. evoked laughter by saying that if the
end of the world should come the right hon
orabc gentleman who had just spoken would De
found delivering an Grafton on the Dement'S oil
bjr,ctaI,Isul. He declined 20 enter INTO Yen
cral argument, but he qnitc prepared W de
fcnd the changes in India The conrsc taken by
the Government. lc said. was Indicated to them
by the ROYAL Commission OF 1855. which pointer
ont the dangerous and mischicvonS "h'cts Wp''h
Iimrtallism if adopted world haN" upon lndia
Th. Government stood bv those views. That
Commission had recommended that ln1ih shohi'
b,vc . free hand 70 deal with the matter. but
should not involve IN" mother country ny al'ct-
ing the Fundamental principles OF currency, ~
tina, would do evil both 10 India and to the
Emtirc a, largc. But 1t was not only the present
Government that had declined to entertain tn"
oucstion of bimetallisrn The late Con>crvaflv"
Government had acted similarly on that question
Referring 20 the proposals Of the United States
at the International Monetary Conicr"nc" AZ
rrusecls. Sir William said that the United STATES
had nroposcd that the Confcrcnc" should ent'Ttiih
thr question Of some mca>ur" for increasing '''
usr of silver in tn" currcncirs ol nations; " "a
matter Of fact, England had h''n anoS, tn' o'iIA
Power prepared TO support suc, 4 resolution, ~
far as il would not affect internal British currency
The Indian currency question had b"'n fe-'rN"u'
In conclusion. sir William. speaking g''neraiIN,
denied that the populacr III li"' W'l' H'''.t .I.
as m,,cn as had been alleged hr also denied that
the natives held the amounts OF uncoln'i silver
which i. had been asserted they held. u" CON
tended that the Government could not do Other
wise than act in accordance with the rrcoinm'hna-
tions Of the Icrschcll commission. ,
4 j. Palfour the Conservative" leader saih
tlot tii. was not a polite Il question. Inc
Government had been driven - commit nhahriai
crime and rhcy appeared to think that they ougt
NOT 10 submit 10 criticism Of th"u conduit Every
ono know that the existing Government had con"
into fine Brussels Conference without showing
Themselves alive to the extraordinary gravity of
the situation The speech Just made by th'
hanccllor of the FXchcQurr was Virtually sn""r
at the present financial situation. For the han
cellor Of tho EXchcnucr 10 get mp ana trll me
country that he regarded with absolute indiilrr-
cncc what happened 10 silver appeared to INN
MIR Ialfourl 10 be something approaching luhdcN
iChcrrS)
Attacks on the Governments course We're also
made by Sir John Lubbock. the well known Lon !
don banker, who sits for London University IN
thc Iihcr8-l 'nionist interest and by Ieoniri H.
(ourtncv member from the Brdmin Division Of
Cornwall. who was deputy speaker and chairman
of committees in the last Parliament.
Dadabhai Naoroii, the Parscc member who sit' |
AS "A Liberal for the Central Finsbury Division, |
that the natives Of lnda already felt !
The pinch of the change. and that they would /
soon awake through suffering to the wrong don" |
them. -,
Sir William Vernon IIarcourt moved the
closure Of the debate The motion was carried
without a division.
COLORADO IN DANGER FROM THE rTES
f,,i tuQ hat