The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1894-04-12
Mr.. HILLS OPINION.

Railway is a democrat, business man
of keen discerninent, and his utterances
aretherefore worth considering. He has
just returned from European business
trip which necessitated his feeling the
financial pulse of England, and he is
therefore better able to speak effectively
of American affairs. than one whose inn
pressions are ali formed at home. He
says:
"India shows large deficit in her ifs
cal budget" "Thc finances of France
have been handled better than those of
of any other nation, and she is strong in
money. The manufacturing districts are
suffering for wart of market. was
greatly struck with the Importance of
the United States as customer for their
expensive goods. The commercial people
in both nations seem to look to the
United States to lead the return to COM
mercial prosperity. 1 was particularly
interested and took occasion to look up.
as far as could, the silver question.
There is no room for doubt that in Eng
land there is great change going on in
the feeling of all the commercial classes
in regard to silver. Nearly all the writers
on political economy and many of the
leading statesmen, as well as great
many merchants and manufacturers, are
becoming bimetalists.
England has been on gold basis legal.
ly from 1916, but practically she tran
sacted business on bimetallic basis,
sending her surplus silver to the French
mint to be coined into French coin.
which has been used in exchange with
France until 1873, when France stopped
the free coinage of silver. After the close
ofthe French mint in 1873 the Bland bill
and the Sherman bill together, used
enough silver to enable England to dis
pose of her surplus silver to the United
States, but now with the repeal of the
Sherman law England is compelled to
find some other way to dispose OF the
large amounts of silver received from her
customers throughout the world.
When our government discontinued
sthe coinage and purchase OF silver Eng
land was compelled to carry her own
load, and if she retains her foreign trade
it is the general opinion OF many OF her
leading men that this can only be done
throuob = he ,-a,,, ~ ~ t,.at,o,, ~ s;IX,ar If
the advocates of silver coinage in con-
congress would only have the patience
and the good judgment to keep their
mouths entirely closed and leave the
silver question to be settled by England
and Germany, ! do not think they would
have long to wait before those nations
would ask for an International confer
ence to consider the silver question, but
they feel that they cannot undertake the
work without the CO operation of Great
Britain.
England has plenty of money, but it is
slow in investment. She is very wealthy
but her losses have been so heavy that
ohS 10 SUI. SuS htS iOSI uCdyly III tHC
United States. You know, the story OF
the Erie, the Reading, the Atchison, the
Union Pacific and other American rail-
roads in the securities Of which English
investors trusted.
''ls there any local cause for the failure
OF these roads?"
"Yes. Rates in Europe are twice as
high and the scaleof wagesis about one.
hall those paid in America. The rates
charged betWee London and Edinburgh
400 miles, are about the same as between
st. Paul and New York, 1,4OO miles, and
the rates on grain in Minnesota and the.
.Dakotas for 400 miles are about the
same asin Europe for $50 or 200 miles,
Speaking politically. Mr.. Hill said that
he thought the people throughout the
north feel that the democratic party is
better out Of power than in power. with
the responsibility Of conducting the af-
fairs ofthe nation. "There is such lack
Of harmonv," he explained, "betweentaae
different sections of the democratic par.
ty as to the best policy to pursue.