The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-05-02
BIMETALLIsM AND RETALIATION.

BIMETALLISM AND RETALIATION.
posing discriminating tariff on imports
from countries hostile to bimetallism,
which was adopted in the Indiana re-
publican platform and advocated by Mr..
Harrison, is Objectionable for the same
reason that free coinage by this country
alone is Objectionable. It is based on
the mistaken idea that this country
alone can control the commerce Of the
world, as the free coinage idea is that
it could control the money of the world.
Money is merely the medium of COM
merce, and the same laws Of interna-
tionaI power that govern one govern
the other If it We're possible for this
country alone to govern one, it would
be equally able to govern the other.
his co-laborers in attempting to control
money by the Sherman silver purchase
law seems to have had no effect in en-
tightening his mind as to the futility
of mere national action in this matter.
But while this is true as to this coun-
try it is equally true as to England. That
country cannot control either the COM
merce or the money of the world, if the
remainder of the world agrees that it
will have something that England does
not want. At present we have reached
q NH lob,
country on the globe. excepting England,
desires bimetallism, and it is conceded
on all sides that England alone stands
in the way of universal bimetaIlism. II
the remainder Of the world should unite
to restore bimetallism England would
be powerless to resist it. A bimetallic
league composed of France, Belgium,
Switzerland, Spain, Italy, Greece, Rus
STA. China, Japan, Mexico, Central
America, South America and the United
States could easily and safely establish
bimetallism and could protect itself
against England and Germany and their
dependencies by imposing discriminating
tariff duties. but TO one of them alone
could do it.
Nothing could be more absurd than
the exaggerated idea of the Importance
Of England, which is held by many
Americans. and especially by Americans
in congress who ought to know better.
England's commerce is enormous be-
cause. under free trade, England has be-
come the carrier and the middle-man of
the nations. but there is a vast differ
ence between England's commerce and
England's consumption. England i'm
ports largely from this country, but
not for home consumption only. The
population of England. Ireland. Wales
and Scotland with the adjoining islands,
and including the army, navy and mer-
chant marine, is only 3S.1O5, 900. Those
people consume no more than any other
equal number of people on the average.
They buy to sell. For example. we are
told that England furnishes the great
silver market Of the world, and yet
England exports more silver than ii i'm
ports. For six years past the total i'm
ports of silver to England were $500. 0O0,-
600 and the total exports were $3.50, OOO,-
O0O In each of those six years the ex-
ports were greater than the imports.
There are only two classes of articles
that England imports largely for con-
sumption and those are food and raw
waterfalls for poaDufactY,ras rrbaSa
England is obliged to buy from other
countries and England always buys in
the cheapest market. England does not
buy grain of the United States on ac-
count of a disposition to favor this coun-
try, but because grain can be bought
here advantageously.
We wonder what some of these gentle
men, who are so impressed with the i'm
portance of England, suppose would
become of the rest of the world and Of
this country in particular. if by some
earthquake or other CONFUSION England
should disappear under the ocean. Do
they really imagine that our farmers
would all be ruined and the country
bankrupted? Would we be left without
any foreign market for our products7
Far from It. There would. of course, be
a temporary shock. but the commerce
of the world would speedily readjust it,
self, and the industries of this country
and every other country would proceed
as before. The remainder Of the world
can get along without England very
well, but England cannot get along with
out the remainder of the world.
1t may be added that the policy now
being followed by the United States is a
policy of coercion-a policy of the United
States alone refusing to attempt the i'm
possible task Of restoring gold to its
former relations to silver and to prices.
The policy is working we'll Both En-
gland and Germany have shown In the