Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-17
BIMETAlLIC PROPOSALS
Official Report of the Correspondence Has
Reached This Country.
Why the American Monetary Commits
sion's Negotiations Failed of
AccOmplishm

The official report of the correspondence
In REGARD to the timetable proposals OF
the United States monetary commission to
the government of Great Britain together
with the report OF the proceed Igs at the
conference of the British 81 smier. the
secretary of state for India. the first lord
of the treasury and the chancellor of the
exchequer with tine French ambassador
and our commissioners. has reached this
country. 1t fully confirms the reports ca
bled on October 81 and 90. The negotia-
ticns fell through. notwithstanding the ex-
pressed willingness of the French govern
meat to open its minis. owing to the re-
lection by the British government of the
proposition to again open the Indian minis
To the free coinage of silver. None of the
other propositions were replied to because
that one. the most important of the con-
cesstons requested of Great Britain, could
not be acceded TO.
The government of Great Britain in max
ing her answer deferred TO the wishes of
the government of India, to which the pro-
posai was referred. and the reply of the
government of India therefore, is the
most important communica: lion in the cor
Respondents 1t is o leEg by document, in
which the advantages pro and con to India
are argued and very Strong case from
their standpoint is made out in favor of
the rejection of the proposal. The disturb
ance of values in India with the attendant
paralysis of trade. at least temporarily
the faIl OF silver prices in India concur
rently with the increase of gold prices in
Europe and America, &c, are advanced
but the most potent reason urged against
the proposition is that the burden of fail
ure. II failure should come from the .ex-
pertinent for the re-es;a Establishment of BIZ
metalism 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 TO greater or less extent protect
themselves if the experiment did not suc
coed. In other words, the Indian govern
ment as preliminary proposition de-
CARED that it could not risk the success Of
the suggested measures. This definite and
absolute rejection of the propose! was
1ulS set forth in the cable report of the
correspondents. but the document contains
a reservation which would seem to indicat.
that II the scope Of the proposed expcri
ment were sufficiently broadened lndis
might De willing, at least. to reconsider heI
refusal That paragraph in Lord F,lpin,-
letter is as follows:
We note that the proposals of the gov,
ernmentS of France and the United States
are subject to the proviso that thew are
sttlshed that they will receive assistance
from other powers in increasing the de-
ma5lds for silver. We believe that a linn
ite1 Increase of the quantity of silver used
as currency Will exercise very trifiiug in
fuence. If any. in raising the gold price of
silver. and that the only assistance from
other powers which can be of any real val
ue would be the addition of other Count rios
TO the himetallic union of France and the
thte1 states If, however. assurances of
really substantial cooperation should be
secured from other countries we shall be
glad 10 learn the exact nature of the as
suFances. and We shall then consider
whether the promised cooperation changes
the conditions of the problem or adds ma
terlaiiy to the chances of success