Show AT THE YORK SUB TREASURY options expressed on the cessation of free coinage NEW YORK june julie 26 2 the cessation of f free cc coinage of silver by the government of india was a fruitful source of coave conversation arsa tion among the financiers today business was resu resumed nied this morning willigen with generally a feeling of depression growing rowing out of the combination of T le circum stances arv fresh s h Mi failures lures from various parts of the country and stringent money were good foundation for the announcement of the stoppage of india silver mints A prominent banker who also is one of the heaviest silver bullion dealers on oil wall street Is said to have reported when the announcement came that it was a crushing blow to silver the effect will he be upon the whole silver mar market B et and I 1 think the settlement of tile be silver question in this country is now at hand the mints have been opened for free coinage and such immense quantities of silver b been eon presented by private parties and the c circulation ir of silver has line become so g graat tion that tb the e price of the india rupee ba has 9 been declining stead steadily ily for months this has brought about the suspension of free coi coinage mill still another large bullion shipper arlind had this to say 1 I dont see how flow the act action i on of ilia indian india government in closing the mints will run much cli diminish the demand for silver in india india is a creditor conn country try and I 1 do not see how flow her balance of trade is to be settled save in the old way by imports of silver if the mints are closed to private persons then the government will private have aye to import the tile at silver ver for coinage purposes in place of private parties the government will be compelled to do to as the indian banks batiks do to buy silver in the tile market in london the depreciation of the rupee Is s stopped topped but beyond sentiment we do n not t see ee the tile silver market will be greatly affected difo at tile sub trea treasury wry today the payment of interest riveres on united n ed states 4 per percent cent bonds due dite july 1 1 began the total payment will amount to and the prepayment of the sum itis said have a very cry beneficial effect hut but as one bank president put it although the boil Is burst the sore sor place lace will not be thoroughly healed heated until afier the sherman silver law has been repeated during the highest rate t I 1 C k for money was 46 per cent A at t 2 0 0 it was offered at 8 per cent clearing house certificates to the amount of were issued today telegraphic transfers of to san ban francisco were made through the rv today after the tile close of bus business ineRs an application Il catlon was received for a tra transfer esfer of S in lit addition to I 1 in n currency sent by registered letter and c express to the pacific coast |