The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-06-25
Negotiations with the English Gov
eminent officials Have Been
Satisfactory So Far.
STAPLE EXCHANGE FOR CHINA
TO BE THE BASIS OF DISCUSSION AT
THE NEXT MEETING.
Mexicans Working I'm Harmony with
the United States Commissioner
Madison Man I'm Trouble.
peciaI to the indianapolis Journal.

Special to the Indianapolis Journal.
WASHINGTON, June PA report re-
ceived at the State Department to-day from
Mr.. II. II. Hanna, chairman of the United
States Commission on International Ex-
change. indicates that the commission was
most cordially received in London, and is
progressing satisfactorily in its negotia-
tons with the English government Mr..
Balfour, the English prime minister, in con-
versing with the members of the commits
sion, declared that the British government
greatly desired to cooperate with the gov
eminent of the United States in promoting
trade relations between the two countries
and extending such relations with other
countries. The commission named by the
British government TO confer with the
American commissioners consists of Sir
James Mackay, member of the Council for
India; Sir Ewing Cameran, head Of the
Hong Kong and Shanghai Banking Cor
poration; Mr.. Robert Chalmers, represent
ing the treasury, who has had charge
of currency matters relating to the depen-
denotes for many years. Mr.. George w.
Johnson and Mr.. w. Blain, who were men,
bers Of the commission who recently re-
ported in favor of a reform OF the cur
rency of the Straits Settlements.
At the first formal conference the Ameri-
can commissioners presented brief memo
randum of essential objects of their mis-
sion, and of their attitude in regard to sill
yer. This was done as preliminary to urg-
ing the British government to adopt in
its dependencies a ratio between silver and
gold similar to that proposed by the United
States for the Philippines, and by Mexico,
The commissioners were assured by Mr..
Chalmers that the treasury had no inter-
est in depressing the price Of silver, and
ii was also stated by him and Sir James
Mackay that 1t was desired to do every
thing that could be done consistently with
the interests of the British and India gov
eminent to conform to the wishes of the
United States.
One of the suggestions of the delegation
of the United States was that the British
ish India should agree to make their pur-
chases of silver for the English subsidiary
coinage and for the Indian rupee with regu-
larity, so as to impose less strain on the
exchange standard to be adopted by Mex
leo, in the Philippines, in the Straits Set
Elements and in China. The British COM
missioners made counter-suggestion that
II this should be done the United States
should be willing to do the same thing.
The American commissioners, of course,
had no authority to bind their government
10 IL Dldlltr tndt WOuiu require leSlSldtlOu
by Congress. They reviewed, however, the
action of the United States under the Sher-
man law and point out that the silver bull
lion purchased under that law was almost
exhausted. In accordance with the SUCCESS
ton of the British commissioners, the Amer
lean commissioners were to present at their
next meeting their suggestions regarding a
staple exchange for China as a basis of
discussion. The necessity for establishing
a staple exchange for that country was
frankly recognized by the British commits
sioners. The report says that the Mexican
commissioners are working In complete har-
mony with the Americans.