People's Pilot, Volume 3, Number 51, Rensselaer, Jasper County, 8 June 1894 — INTERNATIONAL BIMETALLISM. [ARTICLE]

INTERNATIONAL BIMETALLISM.

It Is Worse Than Folly to Expect England to Surrender Her Grasp Upon the Throats of Other Nations—She Realizes the Benefit to Her of the Gold Standard. The question of international bimetallism presents some peculiarly interesting’ features. It is a question on which a good deal of light may be shed by those who have hid their goldbug principles behind it. It is not by any means a new question. It has been considered and discussed from all possible points of view. Nevertheless, at this moment and by the light of current events, it assumes an entirely new aspect. It becomes interesting by reason of the mystery that is thrown around it. We, therefore, appeal to the financial tories who are making much of international bimetallism to give the people a clear idea of the scheme. About what time are we to expect relief from that source? Every interest in the country is in a crippled condition and growing worse and worse. It is absolutely essential, then, if the European Shylocks are to dictate our financial laws and fix our currency system to suit themselves, to know when the event is to occur. But this is not all. There is another question that is still more important. In the nature of things, it may happen that England will not agree to surrender the advantages she now has—that her ruling class will not consent to forego the golden profits that are now flowing into their pockets. What then? The American tories say that there is no possible way to restore silver as a part of our money standard except by international agreement. Are we to conclude that if England fails to recede from a position which she has firmly held for years, or refuses to change conditions that she has been striving for half a century to bring about, we are to accept these conditions and suffer the attendant and inevitable losses, merely because the financial tories have assumed that the United Statefs cannot open their mints to the free coinage of silver? England’s first official reply to the petitions of the bimetallists, since the administration at Washington adopted its present financial policy, is a contemptuous one. The question has been kicked out of court. The house of commons refused to discuss it. There is no longer any concealment in the matter. There is no longer any reason why England should have any concealment in the matter. There is no longer any reason why British interests should pretend to be anxious to increase the use of silver as a money metal or to restore its money functions. Having made tremendous sacrifices of its own

in India, in order to drive the United States to the single gold standard, there is no longer any reason why the house of commons or any other department of the government should engage in an effort to deceive us. Consequently, when the question of bimetallism is presented for discussion in the house — the "faithful commons,” more faithful to the ruling class than to the people, incontinently kicks it out and refuses to consider it. We should think that this action of the commons would put a very large flea in the ear of those who pretend to believe that England is about to surrender the fruits of the victory it has won at the expense of much conspiring and maneuvering. At any rate, the event that has just occurred in the house of commons ought to open the eyes of our own people to the futility of any hope or belief that England is likely to make any move that will divert from her coffers the constantly increasing treasure that the, single gold standard is pouring into them. Whatever the American tories may say —whatever pretenses the adherents of our present financial policy may put forward —the fact remains that the constantly increasing value of gold is making England richer. Her home interests are infinitely more powerful and important than her colonial interests, and it is her fixed and unalterable policy to sacrifice the latter to the former whenever the necessity arises. We have lately seen a remarkable example of that policy. Under the stimulus of the single silver standard the manufacturing interests of India were rapidly taking away from Lancashire the rich trade of the east. The appreciation of gold was a premium to the Indian manufacturers, and enabled them to undersell Lancashire in China and the markets of the east to just the extent of the difference between the value of gold and silver. England did not hesitate to sacrifice her Indian interest to those of Lancashire, particularly, when the policy she adopted was likelj 7 to influence the United States in repealing the Sherman law. She closed the government mints in India to silver and.in effect,placed the currency system of that country on the gold standard —precipitated the silver panic that wrought ruin in this country last summer and sat herself down to the enjoyment of securing our cotton and wheat at half price. In the face of all this there are men among us who pretend to believe, and are trying to make the people believe, that England is now getting ready to surrender the immense advantages she has acquired by conspiracy, by diplomacy and by the sacrifice of important interests in India. There are American tories who insist that this republic, which was powerful enough more than a hundred years ago to conquer England by land and sea, is not now able to put in operation and maintain a currency system fitted to the needs of its people and to the interests of its trade and commerce. There are professed bimetallists who pretend that this republic, more powerful in every way than England and continental Europe combined, must rest in depression and despair until England shall be generous enough to give the signal of relief by graciously permitting Americans to enlarge their money basis. And this act of benevolence is to be performed only when England concludes to present to the rest of the world the trifling sum of $500,000,000 a year, which represents the profits that accrue to Great Britain’s ruling class as the result of the demonetization of silver.

When will England get ready to perform this extraordinary feat of international benevolence? Some of our tory friends pretend not to know, but we know the exact day<()n the day that the czar of Russia abdicates in favor of a democratic form of government—on the day that Emperer William leads a mob of anarchists in the streets of Berlin —on that day England will consent to the remonetization of silver. —Atlanta Constitution.