San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1897-10-22
1T CANNOT REOPEN THE INDIA
MINIS WITHOUT DISASTER
TO THAT COUNTRY.
The Reply Is Courteous And While
Refusing Everything Invites The
BimetalliStS To Come Again.
WOlcOtt'S Mission Has Beer
Ably Executed,

New York, Oct. ga dispatch to
the Tribune from London, says:
The reply of the British government
to the monetary proposals of the Unit
ed States and France has been prepar-
ed by the chancellor of exchequer. 1t
may be summarized as a courteous re-
fusal to entertain the propositions sub
mitted by the two governments, and
an equally polite invitation to contin-
ue the negotiations. The refusal to be
unequiyocal on all points is a trans
parent compromise to save the feel
ings of the strong minority of bimetal-
lists in the cabinet. The ministry act
ing upon the advices of the financial
experts of the Indian government de-
clines to reopen the mints to silver.
This was the chief concession asked
by the two governments and it has
been refused under various pleas of
expediency and necessity, based upon
the existing conditions of Indian finan-
|ces.
The chancellor of the eXchequer al
so discusses the other concessions which
were considered in the various confer
ences with the American and French
ambassador, and the three ENJOYS, and
virtually refuses to pass favorably up
on any proposal. At the same time he
expresses the willingness of the gov
eminent to prolong the conference and
to consider any other proposals which
may be presented. He suggested no
alternative plan of his own, but leaves
fxun m
their own responsibility If they choose
to open their minis to silver or to
take any other measures. Those be-
hind the scene assert that the ministers
expected very different advices from
the Indian experts from what they
have received. They were prepared
last summer to order the resumption
of silver coinage, if the French-Ameri-
can program were adopted, and they
confidently believed that the experts of
the Indian government would be unit
ed on the eXpediency of this course.
When the reply came from the experts
Mr.. Balfour Lord George Hamilton,
Mr.. Chaplin and other convinced BIZ
metallists like Sir Michael Hicks
Beach and Mr.. Goschen, were greatly
surprised The necessity of acting upon
the advice was apparent to neutrals
like Mr.. Chamberlain and the Duke of
Devonshire, who had an open mind on
the question, and Sir Michael Hicks
Beach was instructed to prepare a
categorical reply to the proposals
which had been submitted, declining
to accept them, but leaving the door
open wide for a continuance of the ne
gotiations. This last bit of politeness
was meant to conciliate the disappoint-
ed bimetallists of the country.
A conference has been arranged
which will be attended by the three
ENJOYS and representatives of the two
embassies.
The French ministry may not care
to persevere in a bimetallist policy
under these conditions, and the Nc
Kinley administration may consider it
prudent to break off negotiations tenn
porarily. Certainly the United States,
with the prospect of heavy gold inn
ports, an increasing yield and a revival
of prosperity is in a better position for
awaiting the events of the near future
than England, with its harrassing prob
lens of Indian finance, industrial de-
preston in Lancashire, and disorder in |
the conditions of eastern exchange. The |
whole effect of Senator Wolcott's mis-
sion has been to rally the bimetallists |
of France and England and to revive |
interest in the controversy over the |
single or Double standard. His mis-
has been brilliantly conducted; while
it has failed in its immediate result,
it has been an honorable diplomatic
enterprise, which reflects credit upon
the Republican administration as an
honest and capable attempt to fulfill
the party pledges in favor of bimetal-
lism by International agreement.