The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-03-15
SILuKR YHK CAUSE
10 Its Demonstration Is Due
Misery of To-Day.
BEGINS TO REALIZE n
Rapid Change of Sentiment in Fa
yOr Of the white N1etal-MOno-
Metallism Has Greatly De-
pressed Prices Throughout
the Whole Of the World.

We believe that all the suffering ana
poverty existing not only in the United
States but throughout Europe are caused
by the governments thereof declaring
that the gold standard alone shall be re-
cognized as coinage Of ultimate redemp-
tion, says the Virginia Chronicle. While
our laws recognize "the coinage Of the
United States" as being redeemable for
the nations Indebtedness it is we'll
known that no silver coinage has been
paid out for that purpose since the gold
bug rule came into possession of the
United States since Hayes was inaugu-
rated president on the 4th of March, 1877.
But it is gratifying to know that the
demonstration of silver by the United
States has produced it's baleful effects
throughout the civilized world. England
feels it the more keenly with her trade
with India and China.
At the annual meeting of the British
Bi-metall1c League, held recently in
Manchester, the largest gathering said
to have ever congregated. Mr.. Henry
Hicks Gibbs, the President of the league,
who was personally unable to attend,
wrote letter with these opening words:
"The stars in their course are fighting
for us-at the cost, unhapplly, of much
suffering inflicted on commerce by the
prejudiced obstinacy ofsome and the ig-
norant selfishness of others in the ranks
Of our opponent" The presidents letter
concludes with this significant reference
to London, and the opposition to the re-
storation of silver to it's primary and
historic status. Mr.. Gibbs says:
"There are plenty of indications that
London, the greatest center OF all, the
center not only of English commerce but
Of the commerce Of the world, is already
learning the lesson that which destroys
ono part Of the foreign commerce Of this
country is on the way to destroy the
whole, and that monetary legislation
which isolates England, which causes an
artificial continuous fall in prices, is in
the end neither good for merchant nor
banker, neither for the consol holder nor
the land holder, neither for the wage
Garner nor employer Of labor. I hope and
think that Westminster will not long lag
behind London, and that the strength we
now have in parliament will soon be ad-
ded to greatly Then English commerce
will again hold up it's head, and the
troubles Of the Indian government will
be ended with stroke of the pen.'
Perhaps the address Of strongest i'm
port made on this occasion was by Sir
David Barbour, late finance minister in
India, who said that up to the year 1873
silver and gold divided between them the
duties of standard money for the civil
lied world, and he had no hesitation in
saying that up to date silver was the
more important factor of the two. Under
any circumstance he thought change
which had for it's object the reduction of
the standard Of the earth by half it's pre-
vious quantity could not be looked upon
as anything short of monetary revolu-
ton. If they would consider that when
that change was initiated the world was
rapidly increasing in population, that
wealth was being accumulated, and the
foreign nations we're being brought into
more intimate Connection they would see
that all those things are made rather for
the expansion than the contraction Of the
currency. He further maintained that the
monetary revolution which is in progress
has been accompanied by a great dlstur-
bance Of the financial and commercial
relations to the world, by great fall in
prices in gold standard countries, by an
enormous increase in the burden Of fixed
charges measured in gold, and by unpar-
alleled financial and commercial depres-
sion. Sir David Barbour struck the key
note to the convictions of that assembly
of practical fnanciers and business mon
when he made this declaration: "If the
present policy of excluding silver from
the worlds standard of value is contin-
ued, there are grounds for grievous ap-
prehension, and it is impossible to estlm-
ate the magnitude of the disasters which
may be in store for u.s.
A MOUNTAIN CAPTURE.