Mr. Ottomar Haupt in his Paris letter to the Financial Times, under date of the 23rd of October, write Although we here ar" still without any direct information with regard to the answer given by the English Cabinet to the United States Government concerning the proposals of the American Monetary Commission, we have learned with a great deal of satisfaction from Washington ths the Indian Mints will not be re-opened to the coinage of silver, and that none Monetary Conferenve will he called together. As to the willingness that appears to have been expressed by the British Government to consider ary practical proposals for the establishment of a common ratio between the two metals, it has been received here as an indication that British humour must always exercise its rights. This is, at least, the way in which Lo Temps looks upon a remark which in reality might have been spared us, and in respect of which the paper adds: This irony is indeed the coup de grace!" 1 myself should have believed thit at headquarters the fact would have been sufficiently known that France is going to stick to her ratio of 1 to while the United States will retain that of 1 to 16; Austria-Hungary will go on with 1 to 18.22; Russia with I to 23.95, and Japan 1 to 32.33 while the different countries that have adopted the single gold standard in the course of this year (to which Hayti must now be added) will, by sheer force of circumstance, have to choose the price of silver of the present day for the basis of their new motictary systems. Be. this as it may, the bimetallic campaign has now come to.an end, one the idea to rehabilitate silver by artificial means may be interred for good, That it would come to—nay, shat a metal that had become the very plaything of speculation and had been quoted with heavy backwardations in all the markets of the world was no longer Gt to serve as money, the foremost quality of which must he stahility—T have been predicting in these columns for a long title. As to the attacks directed ayainst myself on this occasion by the bimetali and by part of the Indian Press well—attacks cul that the result would be quite cliff the circumstances which I described had been altered, and if, for instance, the India Mints hind been reopened to the coinage of silver—I may be pardoned if Im of them. 'To me it appears that the fact of a tremendous fall in silver at the time when the United States had effected its enormous purchases of 42 million ounces per month is conclusive in' this respect. But these bimetallists, like the Bourbons, have learned nothing, and so it is of no use to discuss with them the really idle question as to what would have happened ata given moment if something else had not happened.
Text read from the printed page and cleaned; old type leaves the occasional error.