Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-11-19
INDIA ANSWERS NO!
Her Refusal to Join in Interna-
tional Binetallisn.
CAUSE OF COMMISSIONS DEFEAT.
She Might, However, Agree to Open
Her Minis Providing the Scope of
the Proposed Experiment
Was DrOndcned.

Washington, Nov. 1.-THE official re-
port of the correspondence in regard to
the bimetallic proposals of the United
States monetary commission TO the gov
eminent of Great Britain together with |
the report of the proceedings at the
conference of the British premier, the
secretary of state for India, the first |
lord of the treasury and the chancel-
lor of the eXchequer with the French
ambassador and our commissioners, has
reached this country. The negotiations
fell through, Notwithstanding the eN-
pressed willingness of the French gov
crnment to open it's minis, owing to
the rejection of the British govern
ment of the proposition to again open
the Indian minis to the free coinage
of silver. None of the other PROPOSE
lions was replied to, because that one,
the most important concession re-
quested of Great Britain could not be
acceded to. The government of Great
Britain in making her answer deferred
to the wishes of the government of In
dia, to which the proposal was referred,
and the reply of the government of In
dia, therefore, is the most important
communication in the correspondence.
why India objected.
1t is lengthy 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 dis
turbance of values in India with the at
tendant paralysis of trade, at least tenn
porarily, the fall of silver prices in
India concurrently with the increase of
gold prices in Europe and America, ETC.,
are advanced, but he most potent rea-
son urged against the proposition is
that the burden of failure, if failure
should come from the experiment for
the establishment of bimetallism by
France and the United States, must in
evitably fall on India. Both the United
States and France, the reply argues,
with their supply of gold could to a
greater or less extent protect them
selves if the experiment did not succeed
In other words, the Indian government
as preliminary proposition declared
| that it could not risk the success of the
suggested measures. This definite and
absolute rejection of the proposal was
fully set forth in the cable reports of
the correspondence, but the document
contains reservation which would
seem to Indicate that if the scope of the
proposed experiment were sufficiently
broadened India might be willing at
| least to reconsider her refusal. That
| paragraph in Lord Elgin's letter is as
| follows:
I'VE note that the proposals of the gov
| arnments of France and the United States
| are subject to the provso that they are
| satisfied that they will receive assistance
| from other powers in increasing the de-
| mands for silver We believe that limited
increase of the quantity of silver
used as currency will exercise a
! very tri1ing influence, If any, in
raising the gold price of silver, and
| that the only assistance from other powers
which can be of any real value would be
the addition of other countries to the BIZ
| metallic union of France and the United
| States. If, however, assurances of really
substantial cooperation should be secured
! from other countries we shall be glad to
learn the exact nature of the assurances,
| and we shall then consider whether the
| promised cooperation changes the condi-
tions of the problem or adds materially to
| the chances of success"