The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-10-25
FOR INTERNATIONAL BIMETALLIsM

to be predisposed in its favor, but we
hardly think ii Is likely to be adopted.
The adoption of such resolution
would very seriously complicate that
cratic rulers seem to have set their
hearts, for the discriminating duties
on exports and imports would have to
be levied on the nations with which the
bulk Of our trade is done. And 1t would.
thereby injure our trade for the benefit
of our rivals to an extent far exceeding
the advantage we might gain from the
increased use and the enhanced value
OF silver If wheat can now be deliv-
cred in Liverpool at 20 cents a bushel
the export duty would at once increase
the price to $1.40 a price which would
assuredly give Canada and Russia a
monopoly of the English market. IN an
export duty raised the price of pork
from $40 to S3S barrel and of -four
from $3.50 to IS, how much of our trade
with Germany could we hope to retain?
And with a sudden rise in the price of
raw cotton from to IS cents a pound,
how long would il be before Egypt,
Queensland and India were called upon
to furnish all the cotton needed for the
English mills?
We like the bold suggestion Of The
Sentinel, but we are afraid IL is hardly
practicable.
AS a matter Of necessity. the adoption
force countries that declined to join the
league to trade among themselves. That
is the object of the proposition. If Eng
land declined to join she would have to
get her cotton from her provinces and
colonies, but what would England do
with her cotton goods after she had
them manufactured? Take away half
the world from her market, and what
would become of her manufacturing in
8dustry? England cannot manufacture
cotton goods, or any other kind of goods,
unless she can sell them. Neither can
Germany. The effect of a bimetallic
league in which England and Germany
did not join would be to cause all needed
manufacturing TO be done within the
league This would give the United
States the greatest opportunity for ex-
tending foreign commerce that could Ne
imagined. The effect on England ana
Germany would necessarily be ruinous.
Cut them off from our cotton and the
price of cotton in England would at once
rise. Cut them off from half their
markets and the price Of manufactured
goods would at once fall What could
be more disastrous?
AS to food products. we believe Rus
STA would be one of the first countries
to join in such league. Russia hates
England. Russia is on the verge of war
with England over Asiatic possessions.
Russia is now allied with France, in
fact and in spirit. Russia has long de-
sired alliance with the United States. OF
course, If Russia, China and other inn
portant commercial countries will not
join in the project there is an end Of it,
1t will do no harm to try them. We
will never know until we ask them.
England imports about one hundred and
five million bushels of wheat annually.
OF this about sixty-two million bushels
are from the United States and Russia
England could not get enough wheat
and corn from other sources TO supply
the deficiency She would have to i'm
port from us. We do not believe that
England and Germany could stand
single year Of such commercial warfare
1t may be urged that the prices of some
Of our staple products might fall, but
they could not fall nearly so much as
they have fallen on account of gold
recommendation. A restoration of BIZ
metallic currency would far more than
compensate any possible loss from re-
stricted markets. and the countries
within the league would therefore not
have to contend against falling prices.
Their trade would turn from old chan
be opened for it by shutting out the
commerce Of England and Germany.
AS to interfering with proposed tariff
legislation, we would again call atten-
not national, but international, and
that it can take effect only on the agree
ment of safe number of nations. We
can make our tariff what we like. So
can every other nation in the league.
When the time for action comes there
is added to existing tariffs a fixed ad
valorem tax on all commerce with nom
league countries. This applies not only
to the United States, but to all countries
in the league. They shut out commerce
with montague countries. We have
had some success with a barrier enacted
against all the world. 1t has been
claimed that we could do much better
| IL we had Latin America inclosed in
our Chinese tariff wall. Can anyone
| doubt that If to the United States and
all Central and South America were
| added half of Europe and Asia we
should lack FIR a market for our prod
ucts? We believe the league countries
would lose nothing Of Importance by it,
and further than that we believe they
would never be put to the test of 1t.
| AS soon as such a union seemed GER
tain England would back down. and we
| would speedily have what the whole
world is suffering for the lack ola uni
form, bimetallic, international money
system.
AMERICAN ExTRAyAGAyCE