THE SILVER QUESTION.
LONDON, July 3. Mr Goschen considers the ultimate decision of the Indian Government with respect to the silver question will depend on the attiude of the natives. The Times expects that after the repeal of the Sherman law the price of silver will vary from 2s 6d to 3s. Wellington, July 2. President Cleveland's proclamation convening Congress for ,-ju parly date has been received with general satisfaction. Mr Gresham, Secretary of State, declares that the Sherman Silver Act must be repealed. Ssyeral more bank failures are recorded, including five in Colorado, their downfall being due to the silver crisis. Purchases under the Sherman Silver Act have involved the Treasury in a loss of 55,000,000 dollars. July 3. Thr Governor of Colorado has called a special session of the States Legislature, to jqleai with the sttypr crisis. The Governor of Colorado has fj.qnvened the Stftte Parliament with a view to pass legislation suspending the collecting of debts for two years.
It is expected that ailver will remain steady for the present.
Hong Kong, July 3. The silver crisis is paralysing the commerce of Shanghai, and ruining the import trade in opium and Indian yams.
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Temuka Leader, Issue 2525, 6 July 1893, Page 1
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196THE SILVER QUESTION. Temuka Leader, Issue 2525, 6 July 1893, Page 1
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