The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-10-17
ADVERSE TO SILVER
British Cabinet Believed 10 Be Opposed to
Holding a Monetary Conference.
THE QUESTION AWAITS NIAAL ACTION
Although the Matter IL Expected 70
Como Up at ~ Future Meeting, ir
J. Appenrs That tho Cabinet Does Nos
Favor Changing the Gold Standard
ofihc United Kingdom,
London. October 1G. 1907

O..
The British Cabinet this morning held
It's first autunrl meeting at the Foreign
ollce. The Premier, Lord Salisbury
presided. 1t lasted two hours
IL IS understood that the question Of
rcopening the Indian Nlints for the
coinage OF silver was not decided, but 1t
is added the matter was discussed. ma
Will shortly form the subject of further
communications between the Chancellor
OF inc ENchcquer, Sir Michael Hicks
leach. and the United States Monetary
Commissicci =
In addition to discussing the silver
question 1t Is understood that the Cabl-
net ministers were in dellberalion upon
the Anglo French situation In West
Africa and IN reviewing the Cretarl ar
rangrmcnts '-.
In spite of the statement that the
question or the reOpening of the Indian
Ailhts for the coinage Or silver Will form
me SUBJECT of further communication
between the Chancellor or the F:xcheuuer
ana the United Stans Monetary Com
mission, II Is believed that the British
government has reached the decision not
~ enter into an International monetary
conference. No more definite informa-
llon can be obtained with regard to the
action of the Cabinet, but there Is every
reason to believe that the Governments
position is az before stntcd--that 1t Will
not enter into an International monetary
conference
Messages received from the members
or the American commission say they
nave resolved no information with re-
gard to the action taken at the Cabinet
courcil to-day, but they hear that n
statement will he Issued mex, week ito
the effect that the Government will
make no suggestion to the Bank OF
| England as to any alteration of Its pres
ent reserve. The Government cannot in
afiy event do more than TO make a re-
cohlmendatlon to the bank, so that the
| statement that the Cabinet had decided
thnt the bank should maintain a full
gold standard Is incorrect
| me press association sends out the
following semi-ohicial statement to-
night:
"The Chancellor of the Excheduer and
It's colleagues still ma'ntain the posi-
| ton then taken, that the Government
cannot alter the gold standard in tho
United Kingdom. But they have In tho
interval consulted the Indian Govern
IltGl WIN regard to the opening OF the
ihdlan Mints, and n reply has been re-
ce1red which. 1t is understood is
strohGly adverse to the proposition
owing to the difficulties raised In India
ana thf opposition in other quarters the
cabinet feel that they are unable to give
an immediate undertaking to reopen the
indian Mints. but they apparently arc
not indlsposed to enter into further
negotiations, and 1t Is expected that us
the outcome Of -o-day's Cabinet council,
the United States commissioners will
shortly have another m,erview with SI,
Allchael liicks-Beach and that dlplo-
matte communications upon tho question
VIII be continued with the foreign now
ers more Immediately concerned in the
rehabilitation of silver"
In spite Of the above. however, It Is
1Nfttn a. - .
mas fully decided to say no to the
| proposals presented by Mr.. Wolcott.
Mr.. Stevenson left London yesterday
| for Rome -