The state herald., 1897-10-22
NO ENCOURAGEMENT.
BRITISH CABINET STILL DELAYS
Its Answer to the wolcott Commission Not
= Yet Ready, but 1t VIII Probably BE u
Negative.

Its Answer to the Wolcott Commission Not
. Yet Ready, but 1t VIII Probably BE y
Negative.
London, Oct. 16.-The British cabi-
net this morning held It's first autumn
meeting at the foreign office. The
premier, Lord Salisbury, president,
and all the ministers, with the excep-
tion of Lord James, the chancellor of
the Duchy of Lancaster; Viscount
Gross, lord privy seal, and Mr.. Walter
Long, the president of the board Of
agriculture, We're in attendance.
The meeting lasted two hours. II is
understood that the question of re-
opening the Indian mints for the coin
age of silver was not decided, but 1t
is added the matter was discussed and
will shortly form. the subject of fur
ther communications between the
chancellor of the exchequer, Sir Mich
ael Hicks-Beach and the United States
monetary commission.
In addition to discussing the silver
question 1T Is understood that the cab
anet ministers We're in deliberntion
over the Anglo-Frcnch situation In
West Africa and In reviewing the Gre
tuu drTdngementS
In spite of the statement that the
question of the reopening Of the In
dhn mints for the coinage of silver
will form the subject of further COM
munication between the chancellor OF
the exchequer and the United States
monetary commission, 1t is believed
that the British government has
reached the decision not to enter into
IN international monetary conference.
Further meetings with the American
commissioners will be held simply be-
cause they were previously arranged,
us cabled last week.
In regard to India 1t may be re-
garded as certain that the mints will
not be reOpened at present or until the
Indian authorities are fully prepared
and, though the decision rests with
Downing street, 1t Is certain that the
views Of Simla will prevail. and 1t Is
known that the Indian authorities op-
pose the step.
1t is understood that statement
will be issued next week to the effect
that the British government does not
intend to suggest that the Bank OF
England should hold its reserve partly
IN silver.
No more definite information can be
obtained with regard to the action OF
the cabinet, but there is every reason
to believe that the governments de.
cision is as before stated-that 1t will
not enter into any international none.
tary conference.
Messages received from the Ameri
can commission say they have received
no informa ton with regard to the nc.
ton taken at the cabinet council to
day, but they hear that state .nent
will be issued next week to the effect
that the government will make no sug.
gcst.On to the Bank OF England us to
any alteration of its present reserve
The government cannot In any event
do more than make a Recommendation
to the bank. so the statement that tho
cabinet had decided that the bank
should maintain full gold standard is
Incorrect.
The Sunday Times. in n review OF
the bimetallic agreement, says:
1T Is an open secret that when Eng
land wis asked TO join the bimetallit
agreement the government replied tiiat
public opinion did not fnvor any alter
alton of the basis OF England's cur
rcncy standard; but. having an over.
whelming interest In seeing none
tary peace established In the world. II
would be glad to assist In the good
work. and. basing It's action on the
resolution unanimously passed by the
House OF Commons, offered what tho
Liberal government Of Mr.. Gladstone
offered before now. regarding silver In
the banks reserves and the rcopcnins
Of the India mints to silver under Ger
tain conditions. On this promise. Mr.
woicott set to work. His chances oi
success seemed almost hopeless. bu'
he succeeded In obtaining the promise
OF France and the United States to co
operate by opening their mints to sii
yer. In both respects the unexpected
happened. The city rcvolted. thanks
to the letter published Mt the time
and. eggcd on by artful newspaper
comments. an outcry was raised which
resulted. first, In meeting OF the
clearing house bankers. and next, In 4
petition 20 the chancellor Of the OK.
chequer. In spite Of all this nproar W,
do not think the protest has much In
fuence. II so clearly bore the impress
OF class ideas that the government
whose duty Vt is to safeguard the In
tcrc~ts OF the whole, was not undul,
impressed.
Against this the cities OF Lancashire
weigh In their millions OF workers nj
well-discipllned. raising crusad,
agains't what they termed the selfish
ncss OF the london bankers. who as
sumed to dictate to the government
upon what Is really an imperial qucs
tion and which they claim shall be set
tied to suit their interests.
unfortunately the government I.
mcnaced with obstruction In NOR,
unexpected quarter. In long state
paper. the India government puts fnril
the reasons for Its reluctance and aver
sion that tho Indian currency expert
mcnt has reached point when II Will
become q phenomenal success.
IAN exchange rate OF II pence pei
rupee has already been touched and
VIII soon he permanently established
the rupee win cease 10 nnctuate and
that dcsidcmtlm. gold standard
without gold. viii appear. The India
government goes further and nllcgcs
that the rcopcnlnc Of Its mints witt
France md the United States nt n bI
mctallic rate OF 15hs to I. would b,
ruin to India. since n two.shilling ru
pee would kill exports and render oui
dependency unable to compete with
the markets OF the world.
"rhc lot OF n cabinet minister Is M
unhappy orc. If he casts his vote OF
the lines Of the Commons resolution
he win have the India administration
in revolt; if he rejects tho proposals ol
Mr.. wolcott. II will look like England,