The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-23
MINISTERS SURPRISED.
Had Expected Different Reply
From India


New York, Oct pa dispatch to the
Tribune from London says: The re-
ply of the British government to the
monetary proposals Of the United
States and France has been prepared
by the chancellor of the excheQuer and
will probably be published in the Lon
don press before the end Of the week.
1t may be summarized as a courteous
refusal to entertain the propositions
submitted by the two governments,
and an equally polite invitation to con-
tinue the negotiations. The refusal is
unequivecal in all points and the in
vitation to so on with the monetary
diplomacy is a transparent compromise
to save the feelings of the strong min
GRITTY OF bimetallists in the cabinet. The
ministry, acinS upon the advice of
the financial experts of the Indian gov
eminent, declines to reopen the mints
TO silver. This was the chief conceS-
sion which was asked by the two gov
ernments. and it has been refused I'M
der various pleas of e1pediency and
necessity, based upon the existing con-
ditions of Indian finance.
ALL PROPOSALS REJECTED.
The chancellor of the excheQuer also
discusses the other concessions which
were considered in the various confer
ences with the American and French
ambassadors and the three ENJOYS. and
virtually refuses to act faVorably upon
any proposals. At the same time he
expresses the willingness of the gov
eminent to prolong the conference and
consider any other proposals which
may be presented. He suggests no al
tentative plan of his own, but leaves
the two governments free to act upon
their own responsibility if they choose
to open their minis TO silver or to take
any other measures in the interest of
bimetallism.
Those behind the scenes assert that
the ministers expected very different
advice from the Indian experts from
what they have received. They were
PREPARED LAST SUMMER
to order the resumption of silver coin
age if the Franc0-American programme
were adopted, and they confidently be
Ieved that the experts of the Indian
government would be united on the ex-
pediency of this course. When the re-
ply came from the experts, Mr.. Bal
four. Lord Hamilton, Mr. Chaplin and
other bimetalIists in the cabinet we're
Disconnected. and even 111ononletallists
ike Sir Michael Hicks-Beach and MI.
Goscnen were greatly surprised.
The necessity Of acting upon the
advice was apparent 10 neUtrals like
Mr.. Chamberlain and the Duke of
Deyonshire, who had an open mind on
this question, and Sir Michael Hicks
Beach was instructed to prepare a
categorical reply to The proposals
which had been submitted, declining
to accept &fem, but leaving the door
wide open for a continuance of the
negotiations. This last bit of polite
Tg-A. IL 4 10
appointed binetallists in the cabinet.
CONFERENCE ARRANGED.
A conference has been arranged
which Wdll be attended by the three
ENJOYS and representatives of the
two embassies An answer having
been received, the only question re-
naming for consideration IS the proper
course to be followed by the American
ENJOYS. They will naturally go to
Paris and discuss the matter with the
Meline government. The question will
then arise whether the two govern
nents can undertake TO 90 on with
their monetary programme without
the reopening of the Indian minis and
the moral support of the British gov
eminent. The French ministry may
not care to persevere in a bimetallist
policy under these conditions and the
Mckinley administration may con-
slider it prudent to break off negotia-
tons temporarily. Certainly the
United States, with the prospect of
heavy gold imports, an increasing in
come and a revival of prosperity, is
in better position for awaiting the
events Of the near future than Eng
land with its harassing problems of
Indian finance, industrial depression
in Lancashire and disordered condi-
ton Of eastern exchange.