Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1897-11-18
INDIA'S FAULT.
Cause of the Failure ofthe United States
Monetary Commission.
\ NATIONAL UNIVERSITY.
Representative Women to Push Project
to Erect University at Washington
Increased Postal Receipts -PresI-
dent and Postal Banks.

WASHINGTON, Nov. 16.-The official
report of the correspondence in regard
to the bimetallic proposals of the
United States monetary commission to
the government of Great Britain, to-
gether with the report of proceedings
at the conference of the British pre-
mier, the secretary of state for India,
the first lord of the treasury and the
chancellor of the exchequer, with the
French ambassador and our commits
sioners, has reached this country. 1t
fully confirms the reports cabled to
the Associated press on October 81 and
%. The negotiations fell through,
Notwithstanding the expressed will
ingness of the French government to
open its minis, owing to the rejection
by the British government of the prop
osition to again open the Indian minis
to the free coinage of silver. None of
the other propositions were replied to
because that one, the most important
concession requested of Great Britain,
could not be acceded to- The govern
ment of Great Britain, in making her
answer, deferred TO the wishes of the
government of India, to which the
proposal was referred, and the reply of
the government of India, therefore, is
the most important communication in
the correspondence. 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 disturbance of
values in India, with the attendant
paralysis of trade, at least temporary
ly, the fall of silver prices in India,
concurrently with the increase of gold
prices in Europe and America, ETC., are
advanced, but the most potent reason
urged against the proposition is that
the burden of failure, if failure should
come from the experiment for the re-
establishments of bimetallism by France
and the United States must inevita-
bly, fall on India. Both the United
States and France, the reply argues
with their supply of gold, could, to
greater or less extent, protect them
selves If the experiment did not sue
coed. In other words the Indian gov
eminent, as a preliminary proposition,
declared that it could not risk the sue
cess 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 a reserva-
ton which would seem to indicate
that If the scope of the proposed exper-
iment was sufficiently broadened India
might be willing to reconsider her re-
fusal, That paragraph in Lord Elgin's
letter is as follows:
We note that the proposals of the govern
ments Of France and the United States are
subject to the, proviso that they are satisfied
that they will receive assistance from other
powers in increasing the demands for silver.
We believe that limited increase in the guam
tity Of silver used as currency will exercise a
very trifing influence il any, In raising the
gold price Of silver and that the only assist
ance from other powers which can be Of any
real value would be the addition of other coun-
tries to the bimetallic union OF France and the
United States. II, however, assurances Of
really substantial corporation should be Sc
cured 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 conditions OF the
problem or adds materially to the chances Of