The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1894-06-28
The SILVER MIDDLE.

In the MIDST oil America urgent oe-
mand for bimetalism and Mr.. BalIour's
unequivocsl endorsement thereof as the
mouthpiece of the great conservative
element Of England. comes the declara-
tion OF Herr BAN burger that it is i'm
possible to procure an international
agreement to that effect. Herr Bam-
burger is doctrinaire upon finance in
Germany, and was a member of the
He takes the ground that Europe is the
battle-ground Of the worlds wealth and
England the great strstegetic point in
that field; or to speak moro plainly, that
London is the csnt.r of gravity about
which swing all the minor weights in
the system of compensated balance
wheels, Paris, Berlin, Frankfort. Vienna
and St. Petersburg being merely the
countershafts used TO equslizs the
power.
IL this theory Herr hamburger is uu-
doubtedly correct up TO the present
writing. He regards the interests of
the several countries that would have to
be considered in the resumption OF BIZ
metallism, as being so widely diverse as
to admit OF no reconciliation until the
center OF gravity OF the worlds wealth
SHALL Fave been shifted from its p sent
position. Such a condition OF Hairs
may overtake America about the Ii. ddle
Of the next century. There is no per-
ceptible abatement in her yield OF gold
in the past five yearP, for as the output
Of California and Idaho decreases, while
Oregon goes slmost out of sight in this
respect, that of Colorado. as we'll as Ari-
IONA. slowly and steadily increases.
England's only hope to surpass US in
this respect lies in her newly acquired
territory in South Africa, while Ger
many and France have no chances what
ever in this competition.
But before such change can possibly
take place, there must be not only
larger concentration of realized wealt b
in america, but also an increased devel-
opment and greater accumulation.
This, of course, will take time, but the
world is progressing with such giant
strides that modern events move more
rapidly towards changes than in the
commercial world OF two centuries ago.
Had there been no discovery OF gold in
Australia, Simultaneous with those in
the condition of things to
which we slluds would have been great
ly expedited. With all commercial
forces working favoTabiy and with the
NAV be developed in the next half can
fury, the unwritten laws of commerce
and finance may yet emanate from New
York instead OF London. But il ouch
thing should come to pass, we shall hret
be established az the great gold nation
of the world and no longer in position
to ask consideration for our silver.
But, at the present writing, Great
Britain is the center of gravity OF the
worlds opuence and commercial power,
in spite OF all the efforts of rival nations
to dethrone her. More than three
fourths OF a century ago that wittle5t
and most sarcastic OF Euglishmen, Lord
Byron, wrote:
This world is bundle OF hay;
Mankind are the a>ses that pull;
Each tugs in different way.
But the greatest of all Is John Bull.
The conditions of commerce and
finance have not materially changed
aimee the bard OF Newstead wrote the
above verse. The eituation on the battle
field of human effort that We call COM
petition, is practically the same and will
remain so until cur concentrated wealth
becomes equal to here in gravity and
we acquire an experience akin to that OF
England. Whether such a concentra-
ton is desirable or whether it bodies any
good to the country at large is still an
omen question. The Capitalization OF
wealth in our metropolitan cities has
already been shown to be too rapid for
he public good: and the new crop OF
American miilionaires who have sud
denly shot up out of obscurity through
the devious methods OF the stock ex'
change, is OF no particular advantage to
this or any other country. The only
thing we can do ia 20 let affairs go on as
they are going and endesvor to keep
up with the procession.