Daily Texarkana Democrat., 1893-11-04
AFTER REPEAL---WHATP
The Monetary Situation of the World
Involved.

Involved.
A recent article on the present and
prospective financial situation, both at
home and abroad, speaks in the fol-
lowing terms, on this very important
subjtct:
Now that repeal is brought about
the country will be in position TO do
some effective work in the direction of
international bimetallism. Europe
will then understand that the United
States has quit trying to bear the
whole worlds burdens in the way of
sustaining the silver market, and the
other great nations will be forced,
therefore, in self defense, to enter into
some arrangement in which each shall
do its share of this labor. The mints
of the world cannot be permanently
closed to silver. The amount OF gold
among the nations, coupled with the
annual production, is hardly great
enough, after supplying the demands
of the arts, to meet the requirements
of the coinage. Not only will all the
silver now in the currencies OF the
great nations be needed, but the sup
ply will have to be augmented before
many years pass. 1t is TO the interest
of every nation to keep the price of
silver from declining further, and the
only way in which this can be done is
by making larger field for it in the
coinage.
Heretofore England has been the
great stumbling block in the way of
International cooperation in the read
iustment of the ratio between the
metals and the general opening of
mints to silver. Germany stands
ready to follow England's lead in this
direction, and, Of course the countries
of the Latin monetary union-France,
Belgium, Italy, Greece and Switzer-
land-which theoretically have The
double standard, would be glad to
lend a hand in steadying silver prices
and enlarging the use Of that metal.
Austria-Hungary, Russia, Spain and
the Scandinavian countries would un-
doubtedly join the other nations in
this scheme, and international bimet-
alllsm would become fact. Several
monetary conferences with this object
in view have been held in the past fif-
teen years, but they accomplished
nothing because, by our coinage poll
cy. we proclaimed to the world that
we were endeavoring to solve the
problem all alone.
The cessation of silver purchases by
the United States will change the
whole monetary situation Tor the
world, and will force the leading ma
tions Of Europe to take all interest in
it that they have not manifested here
tofore. Bimetallists in England and
Germany have been telling us for
years past that these countries could
never be compelled to adopt the
double standard until we stopped
adding to our silver currency They
have recently been telling us, too, that
the sentiment in favor Of bimetallism
in their countries is on the increase,
and that in the crisis which repeal
in the United States would bring
about this sentiment would quickly
assert itself with such force that it
would compel recognition. Presuma-
bly, they are fully acquainted with the
conditions in their localities. The sit
uation which will test the truth Of
their predictions is close at hand, at
and rate. 1t Is reasonable therefore to
look, in the near future, for solution
of the silver problem which will be
satisfactory and perman