The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-03-07
THE OPPORTUNITY FOR BIMETAL-
IISI.

It is now reported that the Mexican
government is in receipt of information
from its London representatives that
England. France and Germany will soon
take the initiative in calling for an inter
national monetary conference. They will,
as heretofore. propose some plan for the
annual purchase of . certain amount of
silver to be coined on a gold basis. At
the same time comes the report of the
proceedings of the currency commission
sitting at Berlin. at whose opening the
secretary of the imperial treasury, who
presided, said: The commissions task
would be to ascertain whether or not the
value of silver could be raised; if it could
be raised. what were the best means to
the end: how the silver price could be
kept stable. and what was the best basis
for practical measures that would tend
to solve the problem of an efficient agree
ment Of states" There are other evil
dences that the present course Of the
United States is fast bringing the gold
countries of Europe to their senses, and
that as they realize that this country
does not propose to undertake to carry
the silver burden alone they will Ia Se
active measures to remedy the evil that
is now convulsing the world. In his let
ter to :he late meeting of the English
bimetaIlic league, Mr.. Henry Hucks
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 that
which destroys one part of the foreign
commerce of this country is on the way
to destroy the whole and that none
tary legislation which isolates England,
which causes an artificial and continuous
fall in prices, is in the end neither good
for merchant nor banker, neither for con-
sOl-holder nor land-hQlder, neither fer
wage-earner nor employer Of labor. l hope
and think that Westminster will not
long lag behind London, and that the
strength we now have in parliament will
soon be added to greatly. Then English
commerce will again hold up its head,
and the troubles of the Indian govern
ment will be ended with stroke Of the
pen.
The great essential now is that this
country should follow steadily and per-
sistently the course upon which it has
entered. The repeal of the Sherman pur-
chase law has already done more to pro-
mote international bimetallism than all
the silver legislation of the last sixteen
years. The fact that the United States
proposed to enter on an equal footing
with them in the scramble for gold has
thoroughly frightened the European
fnanciers. They know that in such a
struggle this country would have the ad-
vantage of all Of them. 1t is above all
things important that any proposal for
silver purchases be defeated. The United
States should standafor international free
coinage or nothing. In standing for that
it will of necessity have to abandon it's
present standard and accept the stand
ard of 15lk to 1. That is practically the
universal standard outside of this coun-
Of the world to abandon it and come to
our standard. The silver men of this
country ought to unite on that at the
present time. They should act on the
theory that International bimetallism is
assured and ALI work together for it,
Not another silver dollar should be