The Philipsburg mail., 1894-01-11
4 R8YRONC ADV0CAYR
Lord Salisbury Believes in
Bi-Metallisln.
E MAKES AN IMPORTANT SPEECH
Bi- -Metallism Growing Rapidly in
Favor Since Lord Salisbury An
nOunceG His COnversion-Many
Prominent Papers want An
International Conference
to Settle the Question.

! Lord Salisbury, late prime minister OF
Great Britain, lis now pronounced bi-met-
allist. Mr.. Balfour. who has political
future before HIM, promulgated his be-
lief that Great Britain would be forced
to adopt bl-metallism as long ago as
on the 9th of August last. In a speech
of rare foresight he declared before a
company OF eminent bankers and mer-
chants his belief that the financial world
would be obliged to adopt bi-metal]ic
policy He declared that he spoke from
no political standpoint. Since Lord Sal
isbury has adopted the bi-metallic stand
ard, it shows that bi-metallism is growing
in Great Britain. Cardinal Walsh's
letter, favoring b1- metal]ism, has been SO
overwhelming in it's convincing proof,
that it has taken root in the heart of the
entire British Empire.
Following is dispatch from London,
dated December 25, which has reached
us through the Denver News:
The most important political event in
England last week, viewed from an
American standpoint, was SaIisbury's
frank admission Of the necessity Of re-
convening the silver conference. There
is strong movement suddenly devel-
oped in England in favor of this step. 1t
has obviously grown the past week, and
all the weekly financial papers which
came out Saturday seem to point to
conference as offering the only solution
of the problem of saving India from
practical bankruptcy, with all that it
would imply to home interests. Lord
Salisbury pressed upon the government
the vital necessity of ''resuming negotia-
tions, SO rashly put aside, Of trying to
find out whether the other nations of
Europe cannot agree with us from time
to time on some stable relation between
the value Of the two metals. I do not
know whether 1t is possible to agree, but
lam told all the other nations say the
only obstacle to such an agreement is the
obstinacy of Great Britain, and if that is
SO it is very much to be regretted"
Lord Salisbury's speech is regarded as
definite pronouncement in favor of in
ternational bi-metallism, and possibly
destined to have momentous conse-
quences.
Sanguine bi-metallists predict the early
inclusion Of their currency scheme as
plank OF their orthodox tory platform,
but that is scarcely. probable until nu-
merous Tory mono-metallists have been
converted The subject acquired con-
siderable prominence in the Arlington
election contest, but that is scarcely to
be wondered at, because Lancashire has
long been the strongest of bi-metallists
Even the liberal newspapers of that
county are compelled, owing to the
pressure of local opinion, to keep an open
mind on currency matters. and some of
them are at present giving considerable
space to the discussion of the silver
question.
The Liverpool Post, an influential
Liberal organ, gave prominence to
letter advocating the adoption by En-
gland and her dependencies and the
United States of second or silver inter-
national standard, without relation to
the first or gold standard, 'sall contracts
made through gold currency being set
tied by gold currency, and all contracts
made by an International dollar currency
beng settled by an international dollar
currency, the latter being silver dollar
into 100 cepts."
All this points the way by which the
starving millions of the Old and the New
World may be saved, and India from
bankruptcy. What the result may be.
Time alone can determine.