The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1894-03-28
MORETON FREWEN,S PLAN.

Sir Moreton Frewen's letter to the
Salt Lake Tribune published yesterday
constituted a decided sensation. 1t
proposes neat way to flank the goy-
ernment and the goldbugs of New
York out of their stubborn opposition
to the larger use of silver as money.
Sir Moreton is evidently deep in SEN
ator Teller's confidence and is working
in union with Colorado's great silver
advocate and he is a powerful engine
of free silver coinage for the world.
The plan proposed is to borrow the
mints from the government at Carson
city and San Francisco and also borrow
from the Mexican government the
necessary dies and mint up ali the
silver produced in the United States
for shipment to India, China and
Japan to pay for all the tea these
nations ship to European ports, but
especially London, and the excess to be
loaned in Chinese and Indian cities
upon good real estate securities. If
there were not so many "ifs'' in the
way of this most hopeful scheme we
would be far nearer the perfect solu-
tion of our silver difficulties than we
are ready to believe. OF course the
profit of working the silver up IN this
way would be very great, besides it
would restore perfectly the crippled in
dustries and business of the west, Nor
is this this the greatest good it would
prove to US; it would turn over to our
western business men nearly or quite
the entire trade of the east.
Now, Sir Moreton, being an English
man and employed in its diplomatic
service, it would seem to US, places
himself in ticklish situation by max
ing this suggestion to US. Surely his
government would not relish this when
it must see that this trade effect would
surely follow the adoption of the
policy.
However, the greatest danger lies
not alone in this crippling of England's
eastern commerce, but IN the veteran
hostility of Mr.. Cleveland and the New
York bankers to the use of silver,
The former would surely refuse the
permission of the government to use
the mints, and the latter would use
hundreds of millions of dollars to pre-
vent the transfer of so large slice of
her business to San Francisco. 1t is |
surely a nice scheme, but it is as
doubtful of success in the end as the
Omaha scheme. The constitution
gives to congress alone the power to
make the coin money of the nation.
and all as the scheme is. Yet
we must regard it for the above rea-
sons, as chimerical and visionary.
Mexico also is yet to be heard from.
AS stands matters today the Sister Re-
public has too good a thing of it. If
she were able to furnish all the silver
for this eastern demand, few wears
only would see her relieved from her
incubus of debt, and very few more
would see her the richest country on
earth. But Mexico is helpless becauss
she has not the craftsmanship to un-
ierstand, nor the nerve to reach out
boldly and grasp the millions flung at
her head by this most anomalous Fl
lancial situation.
II our government had the wisdom
20 give up its pre1udices in favor of the
Jingle gold standard, or if the New
York bankers had more patriotism,
md were willing to give up the ad-
7autages they now hold in this matter,
or the veal of the people, this thing
night be consummated. but alas! we !
ear that these greedy bankers would !
.ladly forego the entire commerce of I
he orient for the vast profits they are I
Gaping from the deep financial dis =
resses of the west, Oh, that it '
aight be done,
SALT LAKE seems bright and busv. y