San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1894-06-02

Tom Reed on Free Silver and Tariff
The following appears as an in.
terview with Congressman Tom
Reed and is published is the Lon
don FOrtnightly review:
"'Mr. Reed, said the representa-
tive, Il want you to give me a
glimpse Ofthe future policy of the
Republican party. Your party,
with the following that is behind
you, is likely to control the House
after the next election and proba-
bly, the country three years hence.
We in Finland are infinitely con-
cerned by the two great issues
here-silver and the tariff
al SUPPOSE said Mr.. Reed, that
what is on your mind is this: You
in England want us to lower
duties. What will you give us in
exchange? VIII you open your
minis to silver by agreement? One
thing at least [ have learned since
the cessation of silver purchases
last year.: That cheap silver
is an effective stimulus to Asiatic
exports, and this being the case we
have got to consider silver and the
tariff as one issue. 1t is evidently
no time to lower tariffs when the
currency of 700,0O0,0O0 of Orientals
is deprociating and their export
ing powers to gold using nations is
thereby increasing. What do you
propose to do,2'
"Mr. Reed was asked: IF cheap
silver assists Asiatic exports, no
tariff corrective here can help your
farmer. Cheapening silver must
continue to reduce prices at which
Asia can afford to sell wheat and
cotton in European markets.
"'Ees, replied Mr.. Reed, Il agree
that is the aspect of the silver
question:
"'The fall in silver does not de-
crease it's value to pay wages
and to buy products in India and
China and being as great as
ever makes the silver question an
issue we are forced to face. The
position has entirely changed in
the past six months. The previous
enormous compulsory monopoly
purchase of silver went far to con-
fuse mems minds and to disguise
the fact that there really is in the
background a serious currency
problem involved"
And do you regard it as solvable ?
Certainly l do, said Mr.. Reed,
Il understand that England is the
only difficulty. Now what are you
in England going to do about it ?
You cannot, as | understand, keep
the mines of India closed, neith-
er can you afford to open
them again except after an inter.
national agreement. II the Indian
crisis does not force England
quickly into a larger monetary
union with silver using nations,
which union we will gladly join,
then there may come a time for
the nations friendly to bimetal-
lism to unite, not in a monetary
union, but tariff union, reciproci-
ty being the reward OF free coinage
of silver. This should be our pol
icy. We recognize the great in
crease in the burden of our gold
obligations, payable abroad be-
cause of the vast subsistence Of
prices. We recognize that falling
silver by lowering the Eastern ex-
changes favors our competitor
in Asia, who sells similar pro-
duce, wheat and cotton, in the
markets of Europe. 1t is, there
fore, evidently important for debt
or nations first to raise the price on
silver and thereby reduce that
bounty on exports which Asia now
enjoys. This can be done best by
agreement with other nations IA
vorable to silver, and by such a
scale of high tariff against those
nations which reject monetary
agreement as will insure us favor
able balance of trade. In short
higher price for silver by reducing
Asiatic exports to Europe will in
crease ours. Add to this a high
tariff and we can keep our gold at
home, or at least, if sold, it will
quickly come back again"