The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-17
BRITISH CABINET MEETING.
Silver Question Discussed, but No An
sYer Returned to Americans.

LONDON, Oct. 16.-The British Cabinet
this morning held it's first autumn meet
ing at the Foreign Office. The premier,
Lord Salisbury, presided and all the min
fsters with the exception of Lord James,
the chancellor of the Duchy of Lancas-
ter; Viscount Cross, lord privy seal, and
Mr.. Walter Long, the president of the
Board of Agriculture, were in attendance.
The meeting lasted two hours. 1t is un-
derstood that the question of reopening the
Indian mints for coinage of silver was not
decided, but it is regarded as certain that
the mints will not be reopened at present
or until the Indian authorities are fully
prepared. Though the decision rests with
Downey street, it is certain that the views
Of Simla will prevail, and it is known that
the Indian authorities oppose the step. 1t
is understood that statement Will be Is
sued next week to the effect that the British
government does not intend to suggest that
the Bank of England should hold its re-
serves partly in silver.
1t is reported that Sir Michael Hicks
Beach, chancellor OF the exchequer, will
hold further conferences with the Amer1-
can monetary commissioners, the confer
ences having been arranged before the
meeting of the Cabinet to-day Up to
NO@-~
missioners had not received any commu-
nication from the British government re-
garding the answer expected by Senator
Wolcott and his colleagues to the proposal
made.
No more definite information can be OBJ
tained with regard to the action of the
| Cabinet, but there is every reason to be-
| lieve that the governments position is as
before stated-that it will not enter into an
international monetary conference. Mes
sages received from the members of the
| American commission say they have re-
| ceived no information with regard to the
| action taken at the Cabinet council to-day,
but they hear that a statement will be is
| sued next week to the effect that the gov
ernment will make no suggestion to the
| Bank of England as to any alteration or its
present reserve. The government cannot In
any event do more than make a recon-
mendation to the bank, so the statement
that the Cabinet had decided that the bank
should maintain a full gold standard is in
correct. The Press Association sends out
the following semi-ofiicial statement to-
night: -
pursuance of the pledges given in their
name by Mr.. A. ]. Balfour, first lord of the
treasury, and Sir Michael Hicks-Beach,
of Commons when the resolution favoring
cooperation in securing stable monetary
par exchange between gold and silver was
passed. The chancellor of the exchequer
and his colleagues still maintain the posi-
tion taken then-that the government can
not alter the gold standard in the United
Kingdom But they have in the interval
consulted the Indian government with re-
gard to the opening Of the Indian mints,
| and a reply has been received which, it is
understood is strongly adverse to the pro-
posal Owing to the difficulties raised in
India and the opposition in other quarters.
| the Cabinet feels that it is unable to give
an immediate answer regarding the reopen
| ing of the Indian mints, but it apparently
| is not indisposed to enter into further nego-
] ic cd hot nc he n11f-
! come of to-day's Cabinet Council the
| United States commissioners will shortly
| have another interview with Sir Michael
! Hicks Beach, and that diplomatic COM
munications on the question will be con-
! tinued with the foreign powers more imme-
diately concerned in the rehabilitation of
| silver"
In spite of the above however, it is gen
! orally believed that the government has
! fully decided TO say no to the proposals
| presented by Mr.. Wocott. Mr.. Stevenson
left London yesterday for Rome.