Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1894-04-12
HILL ON SILVER.


in st. Panl after an absence of six
weeks spent principally in England,
Scotland and France. He made a
special study OF the financiai sitna-
ton of the commercial nations while
in the great money centers OF the
world and holding intercourse with
the great tinanciers. He said last
evening to a Pioneer Press reporter
that the general business OF Europe
is greatly depressed, and that the
heavy losses il, South America, Aus
tralia and Africa and the heavy
shrinkage OF business in India has
affected the general business OF Great
Britain particularly.
'1ndil shows a large deficit in her
fiscal budget" said Mr.. Hill. "The
finances in France have been hand
led better than those OF any other
nntion and she is strong in money.
The manufacturing districts OF Eng
land-Manchester, Iced, Birming-
nam, Sheffield, and, in fact, all-=are
suffering for whnt OF market. was
greatly struck with the Importance
IF the United States as a customer
ior their expensive goods. The com
merciul people in both nations seem
TO look to the United States to lead
the return to commercial prosperity.
[ was particularly interested, aud
took occasion TO look up, as far as l
could, the silver question. There is
no room for doubt that in England
there is a great change going on in
che feeling of all the commercial clas-
'es in regard to silver. Nearly all
the writer's on political economy and
many OF the leading statesmen, as
we'll as IL great many merchants and
manufacturers, are becoming bimet-
allists.
1T seemr to be the opinion gener-
lily OF the India officials that Eng
land can no more demOnetize silver
India by an act OF parliament
han she could make Christians OF
iluss,llman and Hindoo inhabitants
~ all act OF parliament. The Chi
nese merchants, who, by the way,
ire the equal of any other merchants
II the world in the purchase, ex-
:hange any! distribution OF cOmmOd-
ties OF the nations with which they
| deal,
HAVE PRAcT1CAL CONTROL
| Of the Indian ',hA Eastern Asiatic
| rrade. They pay them in silver and
Exchange their produts forcommodi-
les which they convert into gold.
lnd the India manufacturer OF cot
ton goods and yarn-in passing al
,ov me to state that the cotton
Yarns of India have in ten years in
reused from 10000, 900 to 49,
| 100000 weigh, paying their en- :
! ,loyes low waG in silver bought M
heavy Discount below the gold
| tandard-are able to unllrrsrll thu
Manchester manufacturers WHO pay
gold to tl,eii. iNi'lbyts. 10 nuke
he situation worse still for the Eng
isl manufactures India insists on
ewing a tax on English cotton
goods and on all English mannfnc-
lures to enable her to n'ent tMH large
deficit in her governmental expense,
anil this tax, together with the in
creased cost growing ont OF the gold
standard in England rs against the
silver standard il Iudin, h.,s pri,cti.
ally driven the English peoplrout Of
the trade.
"l.ondon bei;g the financial clear
ing house OF the world, altpayments,
| whether for account Of Amricnu.
French or other continental nations
to Central, South Alnerict. Or Asntic
countries, are made in sterling en-
change, drawn on London and the
Bank Of England, with about 925,,
100000 ingold, is doing II larger
cuisines than would usually he con.
sidered safe were it not for the very
high 60 dit OF that bank. It seems
to be the general opinion that there
is not enough gold in the world to
furnish a sufficiently large basis Of
credit. England has been on a gold
basis legally from 1916. but practic-
lilly she transacted business on 4, BIZ
metallic basis, sending her surplus
silver to the French mint To be coin
ed in to French coin, which was used
in exchange with France until 1873,
when France stopped the free coin
age OF silver, After the closing Of
Che French mint in 1873 the Bland
bill and the Sherman bill together
used enough silver to enable Eng
land to dispose OF her surplus silver
to the United States, but now with
the repeal OF the Sherman law Eng
land is compelled to find some other
way to dispose Of the large amounts
of silver received from her customers
throughout the world. Pioneer
Press.
Notice.
Notice is hereby given that on and
after January lat. the Murray Wood