The herald., 1897-10-17
THE BRITISH CABINET
CONSIDERS THE QUESTION OF
INDIAN COINAGE
It Is Practically Certain That the
Mints Will Not Be Opened
to Silver


met this morning held it's first autumta
meeting at the Foreign Office. Premier
Salisbury presided. and all the Minis-
ters, except Lord James, Chancellor of
Lord of the Privy Seal, and Mr.. Walter
Long, President of the Board of Agricul-
ture, were ir1attendance. The meeting
lasted two hours. 1t is understood that
the question Of reopening the Indian
ms1ts for the coinage Of silver was not
decided, but the matter was discussed
ana will shortly form the subject Of
further communication between the
Chancellor Of the Exchequer, Sir Mich
ael Hicks-Beach, and the United States
Monetary Commission
In addition to discussing the silver
question, 1t is understood that the Cab
met Ministers were in delibera ton over
the Anglo situation in West
Africa and the reviewing Of the Cretan
Army.
In spite of the statemer that the ques-
ton of reopening the Indian miryts for the
coinage of silver will form the subject
Of further communications between the
Chancellor of the Exchequer and the
United States Monetary Commission, it
is believed that the British government t
has reached a decision mot to enter into
an International monetary confere nee.
Further meetings with the American
Commissioners will be held simply be-
cause they were previously arranged
as cabled last week. 1t may be regard
ed certain that the Ir dian mints will not
be reopered at present, or until the In
dian authorities are fully prepared for
that step. Though the decision rests
with Downing street. it Is certain that
the views of Simla will prevail, and it
is known that the Indian authorities
will oppose the step.
No more definite information LAn be
obtained, but there is every reason to
believe that the government, as before
stated, will not enter into any interna-
tional monetary conference. Messages
received from the American commission
say that it has received no information
with regard to the action taken at the
cabinet council today, but the members
have heard that a statement will be Is
sued next week, to the effect that the
government will make no suggestions
to the Bank of England as to alteration
Of its present reserve. The government
cannot in any event do more than make
a recommendation to the bank, 80 the
statement that the cabinet has decided
that the bank should maintain a full
gold standard is incorrect The press
association sends out the following semi
official statement tonight: "The cabinet
considered the subject in pursuance Of
the pledges given in their names by Mr..
Balfour and Sir Michael Hicks-Beach
in the house Of commons, when the reso
luton favoring cooperation in securing
q stable monetary par exchange be-
tween gold and silver was passed"
The chancellor of the exchequer and
his colleagues still maintain the position
taken that the government cannot alter
the gold standard in the united king
dom, but they have in the interval con-
suited the Indian government and are,
it is understood, strongly averse to the
proposal of reopening the mints Owing
to the difficulties raised in India and
the opposition in other quarters, the cabi-
net felt that it was unable to give an
immediate undertaking to reopen the
Indian mints, but it apparently Is not
indiSposed to enter INTO lurther nego-
tiations, and it is expected that as the
outcome of today's cabinet council the
United States commissioners will short
ly have another interview with Sir Mi.
chael Hicks-Beach and that diplomatic
communications upon the question will
be continued with the foreign powers
more Immediately concerned in the re-
Mobilization of silver.
In spite of the above, however, it is
generally believed that the government
has fully decided to say mo" to the
proposals presented by Mr. Wolcott.
Mr.. Stevenson left London yesterday
for Rome.