The herald., 1894-06-03
THE CAUSE OF SILVER BRIGHTRNING.

The struggle for the restoration of
silver to it's rightful old relation TO gold
has entered npon q most encouraging
phase. Balfour and Chaplin. amongst
British statesmen, have come to the
front as the representatives OF large
numbers OF the best classes of the
British people, who demand a return to
the double standard of gold and silver.
About one month ago number OF
United States senators, amongst whom
were ohm Sherman, David Bennett Hill,
and others who had voted for the repeal
Of the purchasing clause of the Sherman
bill, telegraphed their devotion to the
cause Of the white metal to bimetallic
meeting held in London at which the
Right Hon. Arthur J. Balfour, the Con-
sentative leader in the house OF COM
mons, was the principal speaker. And
now we have ex-Speaksr Reed booked
for bimetallic argument in the forth
coming number of the Fortnightly
Review. Mr.. Reed, from some ad-
vance sheet outgivings, has at
lsst discovered that the low price OF
silver ia resulting in enormous Asiatic
exports, principally of wheat and cotton.
AS to the latter, being product of the
southern states, he probably cares little.
But wheat is largely grown in states
which have furnished the electoral votes
for the Republican party, and Mr.. Reed,
- 49, of hatnN
dent some day, has caught the note of
warning from the western and middle
states. The drop in the price of wheat
and cotton and of all the products OF the
farm and plantation has been 80 exactly
coincident with the fall in the price of
silver that it would seem to be impos-
sible even for dullard to overlook the
interdependence of the two propositions.
The ryots of India are paid in the de-
preciated white metal, and even then
they only receive 2 or cents day for
their labor. How ia it possible for agri-
culture in either England or America to
thrive against labor 60 miserably COM
pensated?
1t is great thing to have brought
some of the leaders OF the Republican
party to realize that we must have some
sensible silver legislation to restore
prosperity to American agriculture and
to vitalize business generally. But it is
much to be feared that they will founder
around in the old ruts, at least to the
extent of holding on to the driveling
idea that we must await the action OF
England before taking any step in a
sound system OF finance. AS long as the
present rulers OF England know they
can block any action on the part OF this
country by leaving matters as they are,
we may be sure that she will not bulge
from her present position. That the
restoration of the Conservatives to power
would result in some attempt to rehabili-
tate silver lie exceedingly probable. Lord
Salisbury, who would be the British
premier in the event of the overthrow OF
the Rosebery ministry, in all likelihood
shares the bimetallic principles
of his nephew, Mr.. Balfour, and would
back that statesman in any measures
favorable to silver which he might intro
duce into the house of commons. Under
such change of administration in Eng
land we would at least hope for propo-
sition from the government OF the queen
looking to resumption of the Brussels
conference. 1t is we'll established fact
that England was the cause of the mis-
carriage of that conference.
But better for silver than any number
of international conferences would be the
passage of free coinage act by the
United States. From the very day that
such an act should receive the signature
of the president, silver would begin to
appreciate, and it would not be year
until the white metal would have en-
HANGED to a parity with gold. England
would be compelled to follow suit, and
prosperity would revive both in Europe
and America at an unheard.o of rate. The
United States should lead and not follow
in this grand work.