Warren sheaf., 1894-04-19
SEN ATOR LODGE ON Sill.
ss:ss.s.zs vERAND EN-
LAND.

\ The American Economist il
I siolib ~ tless strenuously opposed to all
those who tee the silyer agitation as
a cloak Tor an effort to reduce the
value OF an American product. And
many, if not most, OF the self-styled
silver advocates are conducting theil
campaign with q full knowledge ol
the TACT enunciated one hundred and
ten years ago by Adam Smith; that
she lower the value of commodities
paid for British goods thesmore the
English win receive for their goods
And conversely, the producers o
what lie called colonial produce
will receive fewer goods FOR tl,eil
commodities the less their price.
No one doubts fof a moment that
the million and a half Troy ounces
OF gold mined in this country re
ceives it's value all over the world
notsosmueh on account OF its intrin
sic worth as on account of it's being
coined hil over tie world. Nor cal
|tkefe be much donbtst hat the SIS tc
go million Troy ounces 81 silver an
nually mined in this country would
exchange readily in the markets d
the world at from $75 to $50 mil
lion, as WIS the value for last year
if it was coined throughout the
wonld with the same FREEDOM as gold
We, with our nearspeighbor, Mexi
co, are the principal producers OF sill
yer. Nearly all the worlds supply
comes from North and South Ameri
ca. The production OF al Europe il
insignificant. Until lately neither
Great Britain nor any British colo
ny produced any silver. Under these
circumstances Englandsaw that b,
|5demonetizing silver il would ,lecreas,
the v;aluep of d commodity it did moi
produce and conversely increase TIL,
value OF the goods it wished to sci
in American countries. Some four
teen years ago Germany, which pro
posed by the aid of Protection, ant
subsidies to its mercantile inufine
TO become an exporting nation, FOL
lowed England's lead and also demo
netized silver Lately England, see
ing that we were staggering under
the effort to hold up the price Of a
product common to so many Ameri
can countries, a product which We
desired to use i'll discharge Of ou
large employment Of British ships
and Use Of British goods, tried to
give us coup de grace by dtmone-
tizing silver in India.
The demonstration of silver in
England and Germany was an ef.
fort, by discrimination against one
OF our products, to obtain an undue
advantage in trade with lis. The
demonetizati6n of silver in india was
as distinctly hostile act as any
"order in council that led to the
war OF 1912. II even an old pair OF
Jefferson's or Jackson's political
breeches were left in the White House,
this action OF England's would have.
been resented as the orders in coun-
ilwere.
With these long continued hosti-
.lities to one, at least, Of our inter
ests apparent to the whole world,
and fully understood by all of our
legislators, a large part OF the Dem
ocratic party, and apparently all OF
the Populists, propose to reward
Great Britain, principally, and Ger
many BY opening our markets to
their manufactures, increasing the
amount OF silver unbased in value
by their action, which we will have
to export to pay for service in trans
porting our ocean freightsandgo
received from them. And ;llmo t
concurren'!y With the dcmonctiza
J!on OF silver in India hy England,
chat unconscionable Judas, Fithian.,
proposes to reward Great Britain by.
destroying our smpbuilding indust-
ry in favor OF British shipbuilders.
AS he says, hs only reason for moi
trying to hand our coasting and
lake trade to the English is his fear
that, by trying to do too much al
sirst, he may not4b he athletic ,io any.
thing for theinteres.s of the nation
to whose capitalists he is SO
parasitic.
All Americans will welcome Sena,.
tor Lodges declaration of opposi
tion TO tins super subseFyicnt ntti-
tude Of Great Britain's servants III
our Congress, and will agree with his
reasons for opposition. lie saws in
part:
It's England which is to-day the
great enemy Of any effort forttlic res
toration OF silver to the worlds cur
rency. | do not mean the whole Of
England, but the bankers and the
moneyed interests of Lon
don.
England is held in her present po-
sltion by the banking aud moneyed
interests OF London, spei,king in a
broad and general way. Sile is iii
great difficulty with her Indian ex-
changes; she is in great difficulty
with her manufacturers. She need.