Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1894-05-30
ENGLAND AND SILVER
THE WHITE METAL is USED TO FOS-
TER BRITISH INTERESTS.


Shipping.
We, with our near neighbor, Mexico,
are the principal producers of silver.
Nearly all the worlds supply comes
from North and South America. The
production of all Europe is insignificant
Until lately neither Great Britain nor
any British colony produced any silver
Under these circumstances England saw
that by demonetizing silver it would
decrease the value Of a commodity 1t did
not produce and conversely increase the
value of the goods it wished to sell III
American countries. Some II years ago
Germany, which proposed by the aid OF
protection and subsidies to its mercan-
tile marine to become an exporting ma
ton, followed England's lead and also
demonetized silver. Lately England,
seeing that we were staggering under the
effort to hold up the price of product
common to so many American coun-
tries, tried to give us a coup de grace by
demonetizing silver in India
The characterization Of silver in Eng
land and Germany was al effort, by
discrimination against one of our prod
ucts, to obtain an undue advantage IN
trade with US. The characterization Of
silver in India was as distinctly hos
tile act as any "order i'll council that
led to the war of 1912. IF even an old
pair of Jefferson's or Jackson political
brooches were left in the White House,
this action of England's would have
been resented as the orders in council
We're.
With these long continued hostilities
to one at least of our interests apparent
to the whole world and fully under
stood by all of our legislators, large
part Of the Democratic party and ap-
parently all Of the Populists propose to
reward Great Britain principally, and
Germany by opening our markets to
their manufactures, increasing the
amount of silver, debased in value by
their action, which we will have to ex-
port to pay for service in transporting
our ocean freights and goods received
from them. And almost concurrently
with the characterization of silver in In
dia by England that unconscionable
Judas, Fithian, proposes to reward
Great Britain by destroying our ship
building industry in favor of British
shipbuilders. AS he says, his only reason
for not trying to hand our coasting and
lake trade to the English is his fear
that by trying to do too much at first
he may rot be able to do anything for
the interests Of the nation to whose capt.
talists he is so parasitic.
All Americans will welcome Senator
Lodges declaration of opposition to this
superintendent attitude oe Great Brit
aims servants in our congress and will
agree with his reasons for opposition.
He says III part:
1t is England which is today the great enc
my of any effort for the restoration of silver to
the worlds currency. I do not mean the whole
of England. but the bankers and the mighty
moneyed interests Of London.
England is held in her present position by
the banking and noneyed interests of London,
speaking in broad and general way. She is
in great difficulty with her Indian exchanges.
She is in great difficulty with her manufac-
tuTers She needs relief No one who has fol-
lowed the English newspapers or the discus
sion of the Indian currency question can fail
to see that the movement in favor of silver is
growing in England all the time. But England
is governed in her attitude toward silver solely
by her. own interests. She is not engaged in
maintaining the gold monometallic standard
because she is in love with what some persons
declare to be an economic truth. She is en-
gagged in maintaining it because her bankers
and her capitalists believe it pays. The rest Of
the world stands either ready anxious to do
something for silver, and the gold monometallc
policy of Great Britain now in force among all
great civilized nations is, believe, the great
-Sneny Of good business throughout the world
at this moment.
Therefore it seems to me if there is any way
in which we can strike England's trade or
strike her inOneyed interest it is our clear pol
icy to do it IN the interest of silver. Nothing
in my judgment, as the senator from Iowa
&AIr. Allisonl pointed out the other day, can
help England so much in her present difficult
ties as to open the markets of this country to
her under the proposed tariff bill.
The senator advocates striking her
with prohibitive duties on the produce
of her colonies, saying, ''There is only
one way TO deal with England on this
question, and that is to make her feel it
IN her pocket. P"
Possibly, however, the senator is not
making his attack on the most vulnera-
bic point. A differential duty ON all
goods from England would undoubtedly
be unpleasant to that country. But she
would not care greatly for the impover-
ishment of her colonies. Has she not fer
the past year added to the f16, $50, 215
in gold drawn from India for imperial
taxation an additional sum of SO, 946,
200 IN silver made absolutely neces-
sary for exchange by the low value of
silver? This low value she has procured
She would see all Of her colonies bless
ed with Ireland's prosperity with more
or less equanimity if it would injure US.
The most vulnerable point of attack is
her shipping, that Fithian wishes to
protect and foster. If we would give no.
tice Of termination of the convention
which prevents us imposing differential
duties on imports in British ships, that
prevents our imposing differential har-
Dor and dock dues on her shipping, we
woald see the Indian minis reopened
instantly.
IF Mexico aud the silver producing
countries of Central and South America,
which arn ipvitpd tO iOaroaSo tho +ava