New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-17
INDIA MAY RECONSIDER HER REFUSAL
OFFICIAL CORRESPONDENTS IN REGARD TO
THE PROPOSALS OF THE AMERICAN
MONETARY COMMISSIONERS.

MONETARY COMMISSIONERS
Washington, Nov 16-The official report Of the
correspondence In regard to the bimetallic pro-
posals of the United States Monetary Commission
to the Government Of Great Britain. together with
the report Of the proceedings at the conference OF
the British Premier the Secretary OF State FOR
India the First Lord Of the Treasury and the
Chancellor OF the Exchequer with the French Am
bsssador and the American Commissioners. has
reached this country. 1t fully confirms the reports
cabled to the Associated Press on October 81 and
o. The negotiations fell through notwithstand-
Ing the expressed willingness OF the French Gov
eminent to open its mints, owing to the rejection
by tho British Government Of the proposition to
open the Indian mnts again to free coinage OF
silver None OF the other propositions were an
swered because that one. the most important OF
the concessions requested Of Great Britain. could
not be acceded to-
The Government OF Great Britain in making It's
answer deferred to the wishes Of the Government
OF India, TO which the proposal was referred ana
the reply OF the Indian Government therefore Is
the most important communication In the corre-
spondence 1t is long document In which the
proposals are argued and strong case from their
point OF view Is made out In favor OF the rejection
OF the proposal. The disturbance OF values In
INDIA with the attendant paralysis OF trade. at
east temporarily the fall OF silver prices In India
eoncurrently with the increase OF gold prices In
Europe and America, etc. are advanced, but the
most potent reason urged against the proposition
f. that the burden of failure. II failure should come
from the experiment for the re-estabishment or
bime,allIsm by France and the United states. must
Inevitably fall on India. Both the United States
and France. the reply argues. with their supply OF
gold could 10 "A greater less extent protect the an
selves II the experiment did not succeed In other
words the Indian Government. as preliminary
proposition declared that 1t could not risk the sue
cess OF the suggested measures. -,
This definite and absolute rejection OF the pro,
posal was fully set forth In the cable reports OF
the correspondence. but the document contains q
nbI indicate
the scope OF the proposed experiment were sum- sum-
to reconsider her refusal That paragraph IN 4-otc
I-Irtn's letter IS as follows We note that the
PROPOSALS OF the Governments OF France and the
United states subject TO the proviso that tney
IRE satisfied that they will receive assistance from
other Powers in increasing the demands Tor ST.
ye- We believe that limited increase or the
ouantlty OF silver used currency VIII exercise
yery triflng influence II any In raising the gold
nrice OF silver and that the only assistance from
other Powers which he OF any real Vaiue
would be the addition OF other countries TO the ol-
metallic union OF France and the United states.
II however assurances OF really substantial! CO.
oncratIon should be secured from other countries.
we shall DO glad TO learn the exact nature OF ,he
assurances and We shall then consider whether the
promised cooperation changes the conditions OF the
problem adds materially to the chances OF sue
cess"