The record-union., 1897-10-22
Not Disposed to Admit That Their
Mission Was a Failure.
VIII Consult France as to Whether New
Proposals Are Desirable.
Not Thought Likely That the Visit
of the American Commissioners
to France Will Result in Bring
ing About System OF Inter-
national BimetalIism.

LONDON, Oct. 81. - Colonel John
Hay, the United States ambassador,
and the officials of the British Foreign
Office decline to furnish the press with
the full text of Great Britain's reply
to the suggestions of the United States
Monetary Commissioners, though the
Foreign Office people say it is in sub
stance identical with the Associated
Press dispatches of Saturday last, Civ
ing the result of the meeting of the
British Cabinet, and that the communi-
cation sent yesterday to the Commits
sloners through the United States En-
bassador was practically a reiteration
OF the statements already made.
A similar reply has been sent to the
French Embassy. The United States
Commissioners recognize that their
mission has been unsuccessful, though
they will not admit it, as the answer of
Great Britain says that country will be
glad to receive other propositions, and
the Commissioners have decided as a
matter of form to return to France and
consult the French Government as to
whether fresh proposals are desirable.
But it is not expected that anything
will result from their visit to France
The Marquis of Salisbury, in his note
to the United States Embassador and
to the French Embassador, Baron De-
couriel, says that by far the most i'm
portant proposal submitted is that con-
corning the reopening of the Indian
mi1Its. He adds: "The Government of
India points out that they can hardly
be expected to give up a policy which
for four years they have been endeav-
oring to make effective, in the absence
of substantial security, that the syS-
tenn to be substituted for it is prac-
tically certain to be stable. If owing
to the relative smallness of the area
over which the bimetallic system is to
be established to the great divergence
between the proposed ratio and the
present gold price of silver, or to any
other cause, the legal ratio of silver
were not maintained, the position of
silver might be much worse than be-
fore, and the financial embarrassment
of the Government of India greater
than any to contend
The reply adds that even if these
reasons are not strong enough, the In
dian Government could not be expected
to reverse a policy which has only been
on trial for four years, and concludes:
Her majesty's Government is there
fore desirous to ascertain how far the
views of the French and American
Governments have been modified by the
decision arrived at, and whether their
desire is to proceed further with the
negotiations at the present moment. 1t
is possible that the time which has
elapsed since the proposals were put
forward in July last may enable the
representatives of the two Governments
concerned to form more accurate es-
innate than then practicable of the
amount of assistance they say they ex-
pect from other Powers, and of the sue
cess their scheme is likely to attain.
The Government will then be placed in
position to consider the subject with
fuller knowledge than they now pos
sess of many of the circumstances ma
terially affecting the proposals before
them