The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-09-19

and It will go on increasing in severity I'M
til the cause of it is removed.
1t IS thought by some that England can
be induced by our solicitation or the i'm
position Of higher duties on commodities
imported from that country than the i'm
ports from other countries, to adopt a BIZ
metallic standard, and that other nations
will quickly follow her example
AT each OF the international conferences
delegates from England at the first oppor-
tunity declared that England was immov-
ably and irrevocably fixed upon the gold
standard. and that they came to the confer
ence with instructions from their govern
ment not to give the slightest encourage
ment that England would under any con-
celVable circumstances cooperate with
other nations in using silver upon equal
terms with gold, or change her policy in
any respect upon this subject
Alfred de Rothschild said in the con-
ference OF 1892: Il venture to hope I have
GoiiciuslVely shown that bimetallism for
england is an absolute impossibilty."
hA-Chancellor Goschen, who is generally
regarded In this country as in favor Of BIZ
metalllsm, in his speech at Leeds in Jan
uary, 1891, said: "The acceptance of BIZ
metallism by this country l do not look
upon as a practical possibility and the
sentiment was appauded by his audience
he said that the advantage which the gold
standard gave to England was that she
with which to prosecute her industries at
the lowest rate of interest Gladstone
gave another reason when speaking of
Englsh bondholders He said in his speech
delivered in the house of commons and
published in the London Times March l.
1888, upon motion that the government
take steps for the reassembling of the
Brussels monetary conference, with a view
10 promote blmetallism: Il suppose there
IS not year which passes over our heads
when does not add largely to the mass
OF BRITISH investments abroad" After
stating that they already probably exceed
ed Teckoned in bur currency $4,000 OOO 600
ne said that in view of this fact cit is a
very serious matter between this and other
countries whether are going to perform
THIS supreme act of self-sacrifice. We have
nothing to pay them. We are not debtors
TO all. We should get no comfort or con-
solatlon out of the substitution of an in
Ierlor metal which we could obtain for less
ana part with for more. We should get
no consolation, but the consolat ton through
out the world would be great loud
laughter) This splendid gift of philan-
lnfophy would result in making a
present of $780, 900 f10O, 900 900 $780, 00O-
0o0 to the world and these sentiments
were loudly cheered by his auditors Is it
not the very height of folly to suppose for
enc moment that we, debtor country
can induce this great creditor nation, by
monetary policy. | never in my life knew
a debtor to succeed in a controversy with
MS creator until it came to an execution
and then by demonstrating to him that
the Judgment he had recovered was worth
less
Not less than $500 900 is annually sent
70 England in the form of interest upon
these foreign investments of which we
send at least $780, 1000 She is not only re-
ce!Vlngthis annual tribute from u.s. but is
obtaining the products of our industries at
thelf gold prices, which are constantly fall
ing. Can it be supposed that she would vol
unfairly relinquish this great advantage
over us? She once attempted to perpetuate
by force of arms the relation of the colo
mes to her for the benefit of an exclusive
trade with them, but she was defeated
ana by the bravery and sacrifices of our
1orefathers our political independence was
achleVed. But we find ourselves subject
to financial dependence upon England
the consequences of which are even more
disastrous than the political dependence
OF the colonial period And yet there are
those among us, for the most part invest
ors OF English money and their satellites
VINO insist that this dependence shall con-
| tinue; that this great country must live in
| the shadow of English capital that it is not
large enough to say for itself what its
money snail be, but that England must he
ailoWed TO dictate our monetary policy
Ihese men regard our own not as a sep
arate independent nation, but simply as a
| larger England. Do not let us follow them.
Let US turn our eyes away from England
ana Tx them upon our own country and
| let the echoes of the American revolution
| inspire US for our struggle for emancipa-
ton from this foreign despotism
| chicago, HENRY IT