The silver star., 1897-08-26
THE LONDON TIMES
oIvss SILVER = Black tvE.
says That Ragland Cannot Take the woa-
eott Commisslou scfioualy-No Laks1y-
hood That the Ind,an Mists VIII Ne
Re-Oprnsd.

London, Aug. 1.-THE Times has
published a twO-column special article
to-day reviewing the effects Of closing
the Indian mints, In connection with
the visit Of the American Bimetallic
Cctlmisslon. II says: "The closing
saved the Indian government from the
losses Incident to heavy fall In ex-
change, and, consequently, from dis
astrous Increase In the burden Of it's
gold obligations. II Is undoubtedly
true that 1t also helped to keep down
The gold value OF silver bullion, and
may not the question he raised wheth-
or the low price OF silver IL necessarily
disastrous to that India which pur-
cliases 1t SO largely? Since 1903 India
has been the only real wholesale custo-
mer for silver. Other customers are
Of the retail order.
1.-THE delicate adjustment of the rela-
tive prices of the rupee and silver for
merly existing has been rudely shat
tered by recent events. Since 1896 the
rupee has risen and silver has fallen.
The fact Is, the forces now acting upon
the price of silver have become too tre-
mendous to be dominated by such deli
cate influences as preceded the defeat
of Bryan's silver party and Japan's
adoption of the gold standard. These
elements have proved causes too po-
tent to be withstood."
The article, In concluding, says:
'''rhe closing Of the mints was justi-
fled, and NIL that il now needed to
bring great experiment to n success
full ending is n little courage, as well ms
resources on the part OF the financiers
Of the Indian empire. At the same time
plain and straightforward language Ia
advisable ON one point. The Indian
statesmen tampered too long with bi-
metallism. This Irritation, which
seems SO innocent and innocuous, has
already cost them dear. But for that
the government would have assented
to the closing Of the mints long before
1893.
The article comments on the Char
acteristic crudeness and bOlduess of
American diplomacy in sending hi
metallic commission to ask for the re-
opening Of the Indian mints. while at
the same time dealing the worst pos
sible blow at British commerce by
passing the Dingley tariff"
ut Is clearly impossible" says the
writer, ito treat seriously commits
sion which argues that unless We do
something for silver In the next elec-
tion the United States will return Mr.
Bryan to the White House. to the last
ing injury of British interests. 1t IL
not certain that Mr.. Bryan will be elect
cd. 1t is not even certain that II he
were elected we would suffer more
than we would feel a new Mckinley
with another Mckinley act. More
over, British investors In American Sc
curities have time before the next pres
ilential. election and before the crash
to get rid Of them.
'One thing is certain: We would be
very foolish to do anything for silver.
Even should the United States and
France agree to adopt bimetallism and
England to reopen the Indian mints. 1t
would only bolster mp silver for brief
space. to fall again to It's proper mar
ket price: SO that Indian finances
would he in position ms bad ms before,
II not worse than before"