The Dawson news. (Dawson, Ga.) 1889-current, 1894-05-30
ENGLAND AND SILVER
AS CONSIDERED BY THE LONDON
FINANCIAL NEWS.
Senator Morgan Sends an Article on This
AIl-Important Question to Alabama
Read 1t Carefully.

From the Albany Herald,
We wish that everybody in this cOun-
| try could and would read the following.
we find it in the Birmingham Age-Her-
aid. and the note addressed to that paper
by Senator Morgan will explain how it
| got there.
To the Age Herald:
WASHINGTON, May Ill respectfully
call your attention to the subJoined edl-
torial from the Financial News of Lon
don This paper is known as standard
authority on the subject of finance 10
England. 1t will be seen from this arti-
Gle that there is a strong and enlightened
opinion in England that in our demoneti-
cation of silver we have commenced at
the wrong end of the subject.
Very respectfully,
JOHN 7. MORGAN.
Editorial from the Financial News of
London, England, April 30, 1894:
ENGLAND AND THE SILVER QUESTION.
In matters of international policy
neither this nor any other country dares
to act in deliberate antagonism to its
neighb0rs. The comfy of nations re-
quires that no power should follow a
cause damaging, directly or indirectly,
to the interest of country with which it
| is at peace. At the same time we seem
| to be shaping towards course which
may bring us into awkward conflict with
| the popular sentiment, if not with the
governing powers, of countries with
whom We hold politically friendly rela
| lions. In another column we print ex-
tracts from a speech made in the Ameri-
can senate the other day by Mr.. Don
Cameron, who represents Pennsylvania
| The gist of Mr.. Cameron's contention
was that the English policy on the all
absorbing monetary question is directly
antagonistic to American interests, and
| that the United States must throw of
the influence of English ideas if she
means to maintain the steady march Of
her prosperity. There have not been
wanting of late indications of growing
irritation with this country for its dog
| in-the-manger attitude towards a ques-
| ton that is convulsing two continents
and gravely comprOmis n; the future OF
the poorer states of Europe. This feel
ing voiced in America by Senator Lodge,
whose proposal to virtually shut out
British goods from the United States
until we should assent to a bimet2llic
convention, though extreme and absurd,
| indicates the trend of sentiment on the
other side of the Atlantic. Mr.. Cam ron
is much milder, and makes war rather
on those who acclimatise English ideas
| in America than on this country; but the
sentiment had the same origin in both
cases. Senator Lodge is not silver man
in the usual sense, being opposed out
| and-out to free coinage in the United
States under existing conditions, and,
therefore, his views, though tinged with
strong feeling, may attract more atten-
ton here than those OF the pronounced
silverites. Mr.. Lodge is very bitter
about the failure Of the Brussels confer
ence of last year, where the attitude of
the British official delegates was scarce
~ less than dscourteous" to the United
States, and he believes that nine-tenths
of the American people regard it in that
light. A feeling of this kind is not to be
lightly ignored. We have frequent diplo-
maic differences with the United States,
but, as rule, there is seldom associated
with these any sense OF animus between
the people of the two countries, and such
squabbles pass over and are forgotten.
But now we are encouraging the growth
of feeling that on a question which
affects the prOsp Gritty of millions of indi-
vidual Americans this country is inclined
to entertain views unfriendly to the
states We know, OF course, that the
unfriendlness is accidental, and that cur
monetary policy is controlled by purely
selfish consideratOns-sO purely selfish
that we do not mind seeing India suffer
ing from our action much more than
America does The Americans are stuff
ciently Old-flshiOned to believe that it is
the part OF a friend to show himself
friendly, and when this country turns a
deaf ear t. the plant OF half the world,
they, not unnalurally, take it unklnd y.
1t is not for us TO say whether the feeling
of irritation is wholly justified or not;
it exists, and that is the main point.
Moreover. it is taking q shape that may
entail very awkward consequences on us
The recent proposal to coin Mexican
dollars in San Francisco was q bid to-
wards giving US an object lesson by GUST
ing us from our commanding position in
eastern trade.
Senator Cameron points plain moral
when he remarks that if the United
| States would venture TO cut herself adrift
from Europe and take outright to silver,
/ she would have all America and Asia at
her back and would Command the mar
kets of both continents. The barrier of
gold would be more fatal than any bar
rier of a custom house. The bond of
silver would be stronger than any bond
of free trade" There can be no doubt
about it, that if the United States we're
to adopt a silver basis tomorrow, British
trade would be ruined before the year
was out. Every American industry
would be protected, not only at home,
but in every other market. Of course,
the states would suffer to a certain ex-
tent through having to pay her Obliga-