New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-15
ENGLISH OPINIONS ABoUr SLvEE.

What EngliShmcn think Of the silver qleS-
ton in this country is Il matter OF some conSe-
uucnce To Americans. Whether the English
opinion is right or wrong, 1t controls the mar
ket in which the surplus Of American silver Is
sold. il controls the financial centres at which
the greater part of American transactions with
other countries are settled and it controls the
capitalists who hold the greater part Of the
American securities now held abroad, IN par
value not far from "A thousand millions. Loans
in great number, and investments in this coun-
try are constantly made by English bankers
and investors and when only part OF them
choose t. withdraw their capital from this
country the effects are at once felt IN all the
markets here With or without reason, Eng
lish opinion about the silver problem here has
a great deal to do with the consent or refusal
Of British investors to place or keep their
money in this country.
"Thc London Economist is not always
right, but represents with fidelity the prevalent
opinion among English bankers and investors.
In reply to a letter from the secretary Of the
Timetable League, who urged that the failure
of the House to pass the Bland bill was not
evidence that the people opposed an intcrna
tional bimctallic agreement "Thc Economist
declares that "thcre will be no international
bimetallic agreement, that is certain" APP
parently nothing more is meant than that Great
Britain will not agree to open its mint TO the
free coinage Of silver, for that the Government
is prepared to make some other agreements
looking toward larger use of silver, "Thc
London Economist itself has recently shown
But of the situation in this country that journal
proceeds TO say:
II IS only Il question Of time how long the Unltcd
States left as IL viii be 10 It's resources, viii be
able 10 maintain the parity between gold and silver III
It's currency If the Treasury continue, bound to pur-
chase 100000 ounces of silver every month sooner
or later It will find the task beyond It's power and
meanwhile the policy which int ndcd 10 uphold the
picc of silver Is forcing II ever lower down. Tho
fictitious demand Of the Treasury has Stimulated pro
ducion while the accumulation % c-O,oOO.0OO worth
u the metal In It's vaults Is constant menace 10 IT,"
market The fear Is that some day this damned up
supply will break bounds and carry everything beior'
It, and thus kept In n state Of apprehension,
tho market has become utterly dcmoisizcd, ana li
.nlcct TO those constant fluctuations which are %
niurlsus 70 trade. II tic United States were simply
20 leave silver find It's true level, there would b.
an adjustment Of supply 10 demand that would In
lime lead to level Of prices which, whether higher
or lover than the present woald at all events BE-
reasonably stable As II is silver Is suffering mos,
at tle hands Of those who profess f. bc it, friends
That this opinion is not free from error
Americans will easily perceive. The demand
Of the Treasury will hardly stimulate the pro-
duction of silver If it fails to uphold the price
and forces it ever lower down" There are
NOT wanting evidences of late that the de-
preston of price has had the natural effect of
stoppng production of silver at many mines
Nor do Americans detect in this country any
prevailing dread that the Government will not
be able to maintain the parity between gold
and silver. They see no distrust of It's ability,
and though some Democrats for partisan rea-
son, occasionally break out in dismal Dredic-