The Silver Crisis.

Feilding Star, Volume XV, Issue 38, 14 August 1893, Page 2

The Silver Crisis.

(PEB PBESS ASSOCIATION.) Washington, August 12. In the Senate, Mr Wilson has introduced a measure to repeal the Sherman Silver Act. Senator Bland proposes to move for the re-enactment of the Bland Act, by which the Treasury had to buy each month a minimum of 2,000,000 dollars and a maximum of 4,000,000 dollars of silver, and, further, that provision should be made for tho free coinage of silver at an increased ratio. The closure is to be enforced on tho debate should it not be terminated by the 28th inst. The Government intends to adopt special measures to absorb the gold from the sub-treasuries in the Western States. Twenty-five million gold dollars will bo added on Monday. Several factories in New Orleans have been closed, owing to the stringency of the currency. A clear majority of the House of Representatives favor the repeal of the Sherman Act Those interested in silver will concentrate the attack on the Shernmn Repeal Act in the Senate, where it is said there is a small majority against it. London, August 12. Silver is quoted at 2s 103 d per oz. It is thought that unless New York supports the market it will collapse. The Colonial Secretary of Singapore advises the adoption of a 3s British dollar on a gold standard, or a 'Is rupee piece.