People's Pilot, Volume 3, Number 38, Rensselaer, Jasper County, 9 March 1894 — Caused by Degrading Sliver. [ARTICLE]

Caused by Degrading Sliver.

A late dispatch to the London Times from Calcutta said: “The condition of the money market is rapidly approaching a state of panic. Government securities have fallen below par and several failures in business are imminent. It is urged here that the stringency in the money market, which David Barbour looked to as a necessity to raise the value of the rupee, is at last reached and that the secretary of state, backed by his credit of £10,000,060 sterling, could continue to maintain it at almost any value. But this action in abandoning the minimum utterly destroyed all confidence, and unless we can show that he appreciates the fact that he row controls the situation the feeling of distrust will spread.