There has been a distinct rise in the price of
silver during the week, and it is now 51d. the ounce, while the bills drawn by the India Office on Calcutta were assigned at 1s. 7fd. the rupee. It is believed that this rise is due to an increased demand from the East, but the transactions hitherto have been very small. The rise, as far as it goes, tells in favour both of those who believe, with Lord Salisbury, that much of the depreciation is due to panic, and of those who, with the Economist, hold that it must now be profitable to ship silver to India as a commodity. It is possible, however, that the rise has been produced by the resolve of the American House of Representatives to make silver
legal tender, to which the Senate has not yet agreed, though the Bill is supported by the "Silver King" of Nevada, who wants a sudden, sharp rise in his ore. his elliOcult to believe that the statesmen of the Union will introduce a third legal tender, besides gold and greenbacks, but there is no plumbing the depths of democratic ignorance of political economy. Hundreds of thou- sands in the West believe that Government can " make " money.
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