The representative., 1894-05-16
THE TIDE RISING.
The Remonetizmtion of silver De-
mnndesI ENerNMhere.

manded Everywhere.
1t is astonishing how the world is coming
around to our way of thinking. We feel
like putting thumbs in vest holes.
la Pioneer Press, thowng our head back
and assuming that did it all That ami
able paper has way, when anything trans
pires in the American congress or English
parliament, of saying: Just as we sug-
gested the other day, Mr. Gladstone-or
Mr. Sherman as the case may be-haS in
troduced a bill,' etc. And the common,
Republican, small-potato St Paul politi-
cian-God help him!-has visions of the
American and English cabinets grouped
around copy of the tin-pan thunderer of
the North Star state, eagerly devourng its
profound hints for the government of man
kind. 1t reminds one of Fsh's marvellous
detective work, when he would ride two
hundred miles $50 he said) without eating
or drinking or blowing his nose, and in the
dead waste and middle of the night would
unearth and ferret out some terrible and
mysterious something, which in the last
analysis turned out to be just-nothing.
But seriously, the cause of bimetallism is
advancing with giant strides. Take, for in
stance, the following letter which appeared
in the Chicago Herald:
News items from London inform that
the Bimetallic Lague of London, in
session, has before it a proposition to en-
large its borders internationally. This is
the most hopeful sign we have had, since
silver was demonetiZed in 1873, of prob
able rehabilitation of silver into money
functions in the near future, undoubt-
edly England holds the key of the situation.
Europe will follow her Balfour, the e.leader
of the conservative party in England, is
leader in this move. Grenfel, eX-gov-
ernor of the Bank of England, introduced
a resolution proposing to ascertain the views
of every candidate for the house of COM
mons on bimetallsm before voting for him.
When such men as Balfour, Lidderdale
Grenfel and scores of men like them in
politics and finance make such propositions
it looks like business A London financial
paper recently closed a column in favor of
bmetailism thus: "A new international
conference is demanded by the character
and extent of the crisis, and it depends
the British cabinet whether such a confer
ence is to be fruitless or not No man in
his senses, whether he be monometallst
or otherwise, pretend that the silver
question will right itself, and that all we
have to do is to await the development of
events. Just as well might lie in
bed and argue that things must take their
course If his house were in flames"
AS it seems to me that the owners of
capital for investments only the SMALL
single class of citizens, who are benefited
by monometallism, while capital engaged in
banking and in the various industries, to-
gether with the laboring masses, have suf-
fered enormously by the demontiza ton of
silver, and must continue to suffer until it
is again made money by interna tiona law.
The recent very able address by Prof
Andrews before the Commercial Club, of
this city, gave the reasons why such has
been and will be the outcome of legislation
for small class of citizens
The insufficiency of gold to meet the de-
mands of growing populations and of vast
ly increased commerce forms the basis of
his argument for bimetalism, and it is un-
Rnswerable by any such slmsy preteXt as
that bank checks and credits make up 95
per cent of exchanges in the course of
trade.
Where were the banks in the late panic?
They were indebted to the public for their
outstanding circulations, and for deposits
theoretically payable in gold, as nothing
else is a legal tender How small frac-
ton of such Indebtedness could have been
met in gold Gf demanded) reveals the hy-
pocrisy or ignorance of those who claim
that the present system of finance in this
country and abroad is safe for the masses
who don't live by cutting gold coupons
but by brain and muscle, in the use of
money and credits in the great industrial
interests of the world.
What good is a gold coupon cutter to the
business world, when the rise in gold so
paralyzes industries that the class of citi-
zens thus engaged dare not continue in a
business whose profits are mostly absorbed
by the rise in the yellow metal that has
been going on disastrously in the past dec
Rde especially. England was quite willing
that we should go to a silver basis, while
she hung to gold alone but now that we
nave come to our senses on this question
she may take the laboring oar to cure the
financial disease which her system has
created.
Bank bills and bank credits and checks
are not money, and the bare fact that gold
the only thing that is money, is INSULT
cent as basis for these bills, Checks and
credits makes all the mischief in the busi-
world In 1879 -ba1f Of
the then accredited money of the world
relegated to the domain of potatoes and
wheat-a mere commodity to be measured
only by gold like all other property. Can it
be possible there are men SO blind to eco