Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1893-11-06
T0FORCE BI me ALLISM
The Possible Result Of a Dis
astrous Experiment.
SENATOR HIGGINS ON THE OUTLOOK

England Blocks the Way 10 BI-metallism.
But "A Change Is Apparent America Is
as Able as Brittania TO Keep Her Gold.
Afraid of Fatal Tariff Blows.
A number Of the United States sena-
tors have been interviewed upon the |
possible effect of the repeal Of the |
Sherman Silver Purchase act Senator |
Higgins is among the number. Some of |
his expressions are as follows
The Hope Proved DeIusion.
"The passage of the Sherman act was
experimental legislation Mr.. Jones, of
Nevada, and other authorities on the
silver question, declared that il we pur-
chased "a 600 900 ounces of silver a year
that it would take up all the surplus
silver product and therefore would bring
silver at par.
ut did 60 up to 81 an ounce and
some people made money by It and others
did not. But the hope proved a delu
sion 1t was experimental legislation
and so has been all Of this silver
legislation. And to certain extent this
is the case with the bill passed the other
day.
BAT think we are now in a position
WMtAo Nno AtoNAAN VI AAiC NA pei AlAtANt IL ~
proves a disastrous one. will be to force
international bi metallism, which is the
only way in which the question can ever
be solved. The metals were dislocated
by the action of the various nations.
They can be restored and the disiocation
removed only by the acts of all the
nations. France is ready 10 resume silver
coinage II England will; Germany will
resume coinage If England will; Russia
has now nothing but paper money Austria
has not more than $3.50. 600. coo Of gold,
which she purchased recently and proba.
bly, coined. The entire Latin Union would
be glad to join in an agreement to resume
silver coinage.
England WIN Not Consent.
"In Germany the Agrarian party the
/ largest section in the majority of the
present Reichstag. is unanimous In favor
of bi metallism, but the position Of
England in this matter is one of acute
interest. England blocks the way.
But a change has been taking place
in England, and will take place more
rapidly hereafter. The whole Manchss-
ter influence, representing the trade Of
the cotton manufacturers and others be-
tween Great Britain aud India, is in
favor of bi metalism. As soon as the
Home Rule question is out of the way the
entire influence Of the Irish contingent
in the British Parliament will be in
favor of the silver resumption by Eng
land This movement has the support
also of some Of the leading British
statesmen in the Tory party. Mr..
Goschen, who was chancellor Of ex-
checquer under the Salisbury govern.
ment, has declared in favor Of bi-metal
lism.
Americas Share OF Gold.
Il do not think we are less able
than England TO get and keep our share
of the gold and / believe that that is the
only way that we will solve this question
. II, by this experiment., It should turn out
that there is not gold enough to &c
around, and II there should be that
paralysis of trade predicted by some as 8
result of this legislation and of tht
course of other nations in regard to silver
England cannot escape the deadly
thrust. Her wise men see it. Balfoui
sees it, Rothschild admits IL, and W,
cannot ignore the fact
IF there is not gold enough to g
. around Europe will find it out, ana we
will all find it out together. and we will
take our remedy b., common action Il
, correct It, But, IL It should turn out
that we do not need to use silver further
2 then the world will have grown out Of
another delusicn. But, whatever maj
= happen, l think the United States is nov
y in position, II there is no fatal blow
4 struck at our industries in the way o
tariff legislation, to regard with com
o posture the outcome Of tine struggle II
{ Great Britain
4 Some sagacious men think that VI
have had too much money-that it ha
led practically to an inflated system o
I doing business, which has caused a re
b action. No one can tell. but / shout
4 say that what the country wants in it
= currency is elasticity and automati
L action
L There should be no further issue q
L fat money, and there should be som
Q way to allow the currency TO enlarge q
= contract according to the necessities an
, wants of the public by an enlargement
of the national bank act Ia addition
Il the United States bonds. state an
!. municipal bonds should be made a basi
e for the issue OF currency by the banks
]. and in that way sufficient elasticity woul
Ie be allowed, so that the country would
II in better condition to enter into the il
ternational struggle of which l have a
r ready spoken and through which l eS
N meet to see international bi .metallism an