The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-03-08
NO M0N0MRYALLI
It Is Irretrievably Doomed
Beyond Redemption. !.
BI-METALLIsM ],1 IS BOUND }I|[ TO WIN \

The Importance OF the Recently Ap
mission to Examine Into the
Silver Questlon-The Great
,, est Activity In England.
We commented day or two ago, says
the San Francisco Chronicle, upon The
significance and Importance Of the recent
movement IN Germany for re-examina.
1 tion Of the silver question, as evidenced
by the creation Of an imperial commits!
sion to that end, and by the remarkable
speech Of Count Won Posadowsky, secret
tary Of the Imperial treasury, upon as.
suming the presidency Of the board,
But this revival of interest il the great
problem at Berlin is by no means the
only Indication Of the awakening Of the
financial and political world to the seri-
GUS danger of attempting to follow the
gold mono-metallists under the lead of
England any further. On the contrary,
there are signs upon every side, III Eng
land as we'll as in other countries, that
the wisest and most Influential financiers,
economists and statesmen have arrived
at the conclusion that the restoration of
b1-metallism is necessary in order to save
the industrial and commercial world from
bankruptcy. N
A short time ago at meeting Of the
Agricultural Society of France, which
represents the bone and sinew Of the
French republic, the subject of free silver
coinage was taken up and discussed. "A
declaration was issued to the effect that
the Latin Union and the United States
would be strong enough to impose none n
tary laws for the entire world. It was
also resolved that if there is to be any
modification of the relation between gold
and silver such modification ought to be-
applied to gold. BY which it was meant
to say, doubtless, that in it's relation to
the value of the products of industry gold
IS the more fuctuating Of the two metals.
Instead of increasing the amount Of sill
yer in the coined money the amount of
gold should be decreased. 5e
Indeed, some of the most advanced
and profound students of the monetary
science in Europe 60 SO far as to declare
that the gold standard must be aband-
oned and that if we are to have but one
standard it must be silver. This is the
view taken by DR.. Sues, the Austrian,
who SO declared before the society Of Aus
trian economists in Vienna on late &C.
caslon, when that illustrious body met
to receive DIR. Otto Arendt, leader Of the
German b1-metallists. But Professor
Suess' argument is merely based upon
the increasing scarcity Of the production
OF gold. His views do not in the least
initiate against the scientific superiority
OF the bi-metallic monetary system, under
which fluctuations in the value of the two
monetary metals are reduced to a mini
mum.
But, curiously enough, the greatest
activity IN the interest Of the restoration
OF bl. metallism appears in England. The
dlsgraceful and disastrous failure Of the
experiment in India has brought that
vast dependency to the verge Of financial
and industrial bankruptcy and ruin.
And this has aroused the commercial
class OF England as nothing else wonld
have done. 1t has been said for long,
time, and not disputed, that every econ.,|
omist n England Of recognized abilitysis
bl-metallist, and certainly the English
magazines indicate that the statement is
true. But the financial class, with some
notable exceptions, and the commercial !
interests haYe been the other way. And
the Gladstone government, taking it's cue
from these classes, has persisted in refus-
ing to discuss the question and in refus-
ing to consider the propriety Of agreeing
to an international monetary conference
But the condition of affairs in India,I
and the even more serious monetary dis.I|
asters in some Of the silver-using coun-
tries like Guatemala, debtors Of England,
have aroused and frightened the moneyed
and mercantile classes in Liverpool, Man.
chester and London. England may not
listen to the appeals Of the world beyond;
she may be deaf to reason; she may be
indifferent to the results Of her policy in
the abstract, but when her pocket is
touched she responds very quickly.
The gold mono metallic policy which
England in her masterful way has en-
forced upon the debtor nations, and which
was calculated to vastly enrich England
50 long as her creditors could stand the
cinch, has at last brought the creditor