The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1894-05-31
HE'S SILVER'S FRIEND
Henry Chaplin Makes a Powerful Up.
peal for Bimstallism.
ENGLAND WILL CONE TOlT
The Great Politician says the White
Metal Must Be Remonstized
to Save the World
From Ruin,

EprSBrECH, May S.-An important
speech, touching on wheat, silver, gold
aud American mining and railroads and
land mortgages. was delivered here to-day
by Right Hon. Henry Chaplin. conserva-
tive, and president Of the board OF aqr.-
culture in Lord Salis6ury's government.
The speech was an address to crowded
conference OF Scotch members of hus-
bandry and had for its subject "Bimetal-
lism in Relation to the Agricultural De-
preston"
Tho speaker declared the agricultural
depression was chiefly due to the steady
and heavy fall in the prices of produce,
which, lie claimed. was duo 10 the mone-
tary changes of 1853 and could only be
stopped by reycr,ing to the previous mon
etary system. Nobody could forsee where
the present fall of prices would end. Ac-
cording TO the latest table, the fall from
1873 TO 1898 of 70 per cent. In wheat amply
illustrates this. The British commission
ers, he added, studied the price OF wheat
in America In 1870 and believed that IL
never could be exported cheaper than %
sbillings per quarter. Superior indian
wheat was sold last week at Hull for l9s.
81. per quarter.
Continuing, he said the majority OF
farmers believed the fall in prices is due
to foreign competition and that the REM
edy was protection. But the fac, that half
the countries of the continent and the
United States, while imposing the heaviest
duties on the imports OF produce, COM
plain of agricultural depression, refuted
this argument, Mr.. Chaplin asserted.
Touching upon the farmers Of America,
he said they especially were being ruined
and becoming bankrupt faster even than
the British farmers. The others contend
that over production Is responsible for tho
fall in prices; but he claimed the statistics
show tho production of wheat has de-
creased, although prices have fallen.
Therefore, from the point of view Of tho
speaker. it was ridiculous TO attribute the
fall In prices TO that cause.
The real cause, he said. was the demon
etization of silver In 1873 and the subse-
quent divergence Of the relative values OF
tho metals, which enabled silver-using
countries like India To export wheat at
tho present low price. Chaplain also
said: "And IL silver continued to fall,
there is no reason why wheat should not
cheaper indefinitely. We propose. as
remedy, nn international agreement to re-
vert to the system which prevailed prior
to 1873"
The failure OF the Brussels conference
| IL no argument against this. as il has since
been clearly proved that nothing but the
action of the English delegates broke up
the conference. Chancellor Won Caprivi's
subsequent explanation Of the conduct Of
the grand delegates conclusivc!y proved
this to be n fact. Chaplin re-
viewed the bimetallic movement
on the continent and pointed out
especially the importance OF President
Cleveland obtaining power to resummon
the conference, adding: "My answer to
the argument that an agreement as to the
ratio between silver and gold is impossible
is that the bimetallist will accept any ratio
rather than continue as now, and silver 10
so sensitive that its market price will con-
form 10 any fixed International ratio. The
increased output consequent upon such
an agreement would, in our opinion, not
| affect the matter in the least, as IL would
be infinitesmal compared with the inn
mense exporting mass. The argument
that an international agreement would
make n fortune for the owners OF Amer
| icau and Mexican silver mines does not
touch the question Of its expediency and
general utility"
"rhe most important adverse argument
is that Great Britain, being the greatest
creditor nation of the world, would re-
cciye payment OF her debts in the cheap
est metal. We contend that both metals
would perform equal functions, while on
the other hand We say il Is not wise for
the creditor to embarrass his debtor. Tho
bimetalllc prospects of tho future are
most promising, and can assure our for
eign friends that tho recent court OF BIZ
metallic debate in the house Of commons
was devoid OF importance. The discus
sion was attempted against the advice OF
it's friends and the result was inevitable,
seeing that no division was possible"