People's Pilot, Volume 5, Number 2, Rensselaer, Jasper County, 4 July 1895 — Why England Is for Gold. [ARTICLE]

Why England Is for Gold.

The question has been asked by certain newspapers In connection with the bimetallic conference to which Congress has just appointed delegates, as to how England will vote on the silver question. There need be no question whatever. Although there is a powerful agricultural party in England they are far outweighed politically by the power of the bankers. Now a conservative estimate places the debt of the United States to England at five billions.'There are many estimates above this sum. For example, the railroad stocks and bonds of the United States alone, onehalf of which are said to be held in England, amount to $11,443,000,000. The bonded state, national and municipal debt of the United States is $1,954,000,000, almost all of which is held in England. Twenty-seven million acres of land in the United States and very considerable business properties in the large cities are owned In England and pay rental to English landlords, British syndicates hold $100,000,000 in brewing, mining and other enterprises in this country, besides a vast number of other Investments. So it seems entirely safe to put the debt upon which the people of the United States are paying interest or dividends to England at $5,000,000,000. The interest rate on this may be put at 4 per cent as a low average and still the tribute which we pay as interest every year will amount to $200,000,000 or more than the total annual output of gold, which Is placed at $135,000,000. Now when we remember that England’s debts are largely paid in agricultural products and that it takes twice as many bushels of wheat or pounds of beef to pay $1 of interest now as it did tn 1873 it is easy to understand how England will vote in the money conference and why.—Ex.