The San Francisco call., 1897-10-17
THE COLD
STANDARD
WILL HOLD
Great Britain Decides to
Do Nothing for
Silver.
INDIA'S MINTS NOT
TO BE OPENED.
No Change in the Bank of
England's Legal Re-
serve.
STRONG OPPOSITION FROM
SIMLA.
In the Facs of This the Salisbury
Cabinet Decides That 1t VIII
Make No Change.
No Change in the Bank of
EngIand'S Legal Re-
serve.
STRONG OPPOSITION FROM
SIMLA.
In the FACE of This the Salisbury
Cabinet Decides That 1t VIII
Make No Change.
Special Dispatch to THE CALL


LONDON, ENG. Oct. 16-The British
Cabinet this morning held its first autum n
meeting at the Foreign Office. The
Premier. Lord Salisbury, presided and all
the Ministers. except Lord James, Chan
cellor of the Duchy of Lancaster, Viscount
Cross, Lord Privy Seal and Walter Long,
presi lent OF the Board of Agriculture,
were in attendence. The meeting lasted
| two hours. 1t is understood the question
OF reopepiug the Indian minis for the
| coinage OF silver was not decded, but the
m after was discussed and Will shortly
form the subject of further communica-
| ton between the Chancellor of the Ex-
chequor, Sir Michael Hicks Beach and the
United States Monetary Commission.
IN addition to discussing the silver
| question it is understood that the Cabinet
Minis ers were in deliberation over the
Ang French situation in West Africa
and in reviewing he Cretan army.
In spite OF the statement of the question
of the opening of the Indian mints for
the coinage OF silver will form the subj act
of further communications between the
Chancellor of the Exchequer and the
United States Monetary Com mission, it is
believed that the British Govern ment has
reached the decision not to enter into an
international monetary conference. Fur
ther meetings with The American Com
missioners will be held sImpl because they
were previously arranged. as cabled last
week.
In regard to India, it may be regarded
as certain that the mints will not be re-
opened at present, or until the Indian au-
! E -.
decision rests with Downing street, II is
certain that the views of Simla Will pre-
vail, and it is known that The Indian au-
thorities oppose the step.
No more definite information can be OBJ
tanned wi regard to the action OF the
Cabinet, but there is every reason 10 be-
lieve that the Government is as before
stated-that 1t will not enter into any ILL
| ternational monetary. con ference.
Messages received from the Anne erioan
com mi. sioners say that they have received
10 IN ormation with regard TO the action
taken at the Cabinet council to-day, but
! they hear that a statement viii be issued
next week TO the effect that the Govern
ment Will make no suggestion 10 the
Bank of England as to any alteration OF
| its present reserve. The Government can
i not in any event do more than make a
Recommendation 10 the bank SO the state
| menI that the Ca ablnet had decided The
| bank should N aintaln full gold standard
| is incorrect.
The Press Association sends out the FOL-
! lowing semi-official statement to-nig ht :
| THE Cabinet considered the subject in
| pursuance OF the pledges given III their
| name by A. J. Balfour, First Lord OF tine
Treasury. and Sir Michael Ricks- Beach
G ancel!or o the Exchequer, IN the
! House Of Commons. wAen The resolution
| favoring cooperation in securing O staple
monetary par exchange between gold and
silver was passed. The Chancellor of the
| EXchequer and his colleagues still man.
| tain the position then taken, that he Gov
ernment cannot alter the gold STANDARD in
| the United X ngdom. Bat they have in
| the interval consulted the Indian Govern
ment with regard to the opening OF the
Indian minis and reply has been re-
| celved which il is understood is strongly
| adverse TO the PROPOSAL.
lowing 10 the difficulties raised In India
and the opposition in other quarters, the
! Cabinet felt that they are unable to give
| an i'm med ate undertaking to reopen the
| Indian mlnts, but they apparently are not
| indisposed to enter into further negotia-
| tions, and it is expected that as the out
com. of to-day's Cabinet council the
United Sta es Comm ssIoners will shortly
! have another interview with Sir Michael
| Hicks Beach. and that diplomatic COM
munications upon the question will be
continued with the foreign powers more
| mined lately concerned in the rehabilita-
| ton OF silver"
In spite of the above, it is generally
believed that the Government has fully
ecided to say no to the proposals pre-
senied by Mr.. Wolcott Mr.. Stevenson
| left London yesterday for Rome.
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