, 1879-04-04
THE SILVER QUESTION IN EUROPE.

There are good reasons for believing TINT
Europe ia undergoing very decided change
Of opinion in regard to tho use Of silvor as
money, and that tho time is not fur distant
whom tho money. power Of England and Ger
superiority Of tho double standard to an
overwhelming popular demand. Not long
sinco tho cable brought tho nows TINT the
Council Of tho Liverpool Chamber Of Com
morce had adoptod resolution In fovor of m
international agroomont for tho remonotixa-
tion of silver. A few days Inter D1snAEtz,
in public speech, admitted TINT tho disuse
of silver for monetary purposes cuts an
important figure In tho general depression Of
business In Germany. And now there is
an authoritative announcement TINT The
silver question is exciting great interest
throughout Lancashire, and tho opinion is
steadily touding in tho direction Of bimeta1-
isln.' II ID added TINT "The intorosta
in London opposed to 1t are SO powerful
that it u doubtful whether my prnc-
teal stops can be taken in that
direction for long timo to como ";' but this
remark is evidently inspired by those Same
money interests. When tho business non,
the manufacturing districts. mud tho labor
ing Glasses in England shall unite in agitating
tho remonetization Of silver, ths money-
interests will not DO able to hold out long
agninst suoh agitation.
The masses Of people in Germany and
Great Britain arc governed by rnlpablo facts
aud experience. and not BY theories sug-
gosted by selfish interests or political expert
menta1ists. They know that the business Of
Germnny is atagnant, notwithstanding polit-
ioal unity and peace, and TINT there is wido-
spread suffering among the working classes
Of Great Britain. They experience their
present pains and approhend greater misfor-
tune in the future. They lock at tho uni
gersal prosperity Of France which followed
upon defeat, and they reflect that silver has
boon employed continuously as part Of tho
active and oqual money Of TINT nation. They
read and hear Of the rowling prosperity Of tho
United Statos, and it occurs to them that sil-
vsr has been romonetizod in this country.
Post Aoe, rropter hoe, though utterly falla-
cious in itself, controls tho opinions Of tho
massos, and they, in turn, rarely fail when
hitAba4 W AA44Ap6o +AUAA b3AA44o4h utuA kAuao
who rulo over them in these days.
We will not dony that the reasoning We
hive described is partly erroneous, but 1t Is
nevertheless calculated to lead to change
which will ultimately improve tho CONNER
cial and industrial conditions of both En-
gland aud Germany, and materially holp to
rescue tho whole business world from the
ora of depression which is now weighing
down upon it. Tho actual romonatizatiou Of
silver whero it has boen in a|stse as monoy
il substantial aud beneficial expansion OF
tho volume OF monoy, and, like the same OK.
pansion secured in part by nominal ren,ono.
tization IN this country, but mainly by actunl
specie resumption, 1t ckcatos new confidence,
promotes speculation, encourages enterprise,
increasea consumption, facilitates exchange,
aud in all the usual accessories develops and
assiBts business. Tho international double
standard will assure tho preservation of this
Increased volume of money, and oqualize
tho value Of its two oomponents; and tht
whole world viii! partake OF the resulting
benefits.