New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-27

In the arts which Is estimated at about 1,Oooooo
ources. The consumption by India was 4oooo'oco
ounces. which was coined This makes the CP'''"
States and India combined l06,Oo0,oOo ounces
OF silver purchased last year, leaving 46oOo'tfU
ounces for silver for In the arts In the o'her
countries Of the world.
The highest price attained by silver IN 'he
United States WAS at the time OF the passage OF the
Bland Silver bill. February IS 1873, when 'he
price 81 90 ounce III" silver uohhr was
then worth 81 cents. At 10 period since thea mas
the silver dollar been worth much. When INC
Sherman act went into effect In August. 1890 ther"
was a squirt In the price OF silver, and IT we's up
10 81 81 nh ounce. In The time between the passage
Of the Bland law In 1873 and the pa<sag" OF th"
Sherman law In IsgO silver went to 81 cea an
ounce which the maximum price In tha' perio''
Since August. 1890 the price has gradually declined
with fluctuations until June 90, 1893 'today II ms
reached the lowest point OH record AT To-Day
price the silver dollar Is worth W l. cei"s do
bullion.
Since 1859 India has coined silver free. During
the last calendar year the India Government coined
100000 ounces. Since the passage OF the bla"d
and sherman acts the United States have coined
s4os 600 600 Of silver OF the amount of silver
purchased under the sherman act. 121COOOOo ounces
remain unconed In the vaults Of the Treasury.
Treasury officials opposed the free coinage OF
silver, while admitting that this radical action py
India will temporarily result TO her disadvantage.
believe that with rich soil ard 23O,0OO,OOO OF
people fairly productive. after the reaction is over
India will recover the shock. II Is pointed out
that her exports OF merchandise and cereals largely
exceed her Imports and that the value OF me
rupee the current money Of the country Is dehi''i!
fixed at one shilling and four pence Is. cents om
mcney) the loss which SIC has suffered h'rtoor"
IN tho fluctuations of value Of tho rupee Will II zone
away WITH and by many 1t Is believed that 'he mrs
hoardings Of gold known 10 exist In 1ncm VIII soon
tipir
converted into coin. During the last fifty year t'
net imports OF gold into India aggregated about @'o'
900 900 ,
In a report made to the Lth Congress 10y fu""iU
Atkinson uIon the present status oil mhe'"iIe"' ~
Europe touching upon the Import OF goa mo p'"''
India, he says. , , ,
"Of the import OF gold very sniaii "nlo"'' n
bccn coined into domestic gold CON- Inc ''''i
coinage for the hfty years since 1888 amounts 10 no
than .,352.39. rupees tAe RS. 80 t"r nrna'
about o16VD 900 rupees, has Dcch ">' III -
ment or In, been bearded IN the form Of ilsn "iu
Australian s,vercigns 10y the richer ha'iI's anu y,
The treasure, Of Indian princes. Inc goiu ul, "
has flowed India Is lost alin"s' "nou, NV ~ ,i
bullion market and have not ll.u 10 n"'' 'Ii' !"
rerent times the value OF silver AT the paEnais '
hecon,c less rs compared with gold ornaments anu
boards OF silver les hish! pib' t'''i ~ H.
wears In India elsewhere, Gold Is taxing "l'
place Of silver" -, A. ant,
These views OF course. represent only tn" anu
silver side Of The question Ihe sndneHoss VI inc
acon has hardly yet gwen the silver advocates ,ic
20 be heard SENATOR stewart Is al The present Ilhc
aImos, the only prominent silver man IN WaSmhrUh
Their. f. no question that tins matter VIII CONF up
morrow. All the memcers except Secretary Gresham
I'm