Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1894-05-22


silver are now viewing with fear
full apprehension the ruin which
they have wrought 10 American
industries and are fastening to
correct their error. The panic Of
1925 pales into insignifcance
when compared with the social aud
commercial environments of the
present. Politicians have pandpr-
ed to the capitalist and bondhold-
er until the very bulwark of the
nation is threatened with riot aud
anarchy. We have been toying
with a theory and must now bat
tie with n condition. With the
wheels Of commerce clogged and
hungry women and children cry
ing for bread, we have no time for
doubt and cant. The evils which
are overshadowing The country to-
day as a result of a bad financial
policy, cannot be corrected tomor-
row, but the day of restitution is
approaching.
The following proceedings of
the irrational Bimetallic
League, which met at the Man
sion House, London, May End,
and over which the RI. Hon. Geo.
r. Tyler presided, is significant as
to the interest which is being felt
in this matter. There were about
four hundred delegates present,
among them being Mr.. Brooks
Adams. of Boston; M. Vanden-
berg, president of the bank of the
Netherlands, of Amsterdam; NJ.
Laveleye, of Brussels; M. Henri
Cernuschi, of Paris, president of
the French Bimetallic League;
Mr.. David Murray, president of
the South Australian Bimetallic
League; Mr.. Thomas Salt, late
president of the Bankers Insti-
tute; Sir Malcolm Frazer, agent
general in London for western
Australia; w. Lidderdale, ex-gov-
ernor of the Bank of England,
and a number of prominent for
eign and British inanciers with
several members of Parliament.
The object of the Bimetallic
League is to urge upon the British
government the necessity of CO.
operating with other leading
nations for the establishment
of the free coinage of gold and sill
yer at u fixed ratio.
Rt. Hon. A. j. Balfour address
ed tue conference, saying that we
were now standing face to face
with a great danger which could
only be averted by the rehabilita-
ton Of silver to its proper CONNER
clal function. In order to DO tins
international action was absolutely
necessary. M. Balfour said that
there were three questions with
which bimetallism had to cope.
They were these: WAS a double
standard possible? Was it just?
Was it expedient?" Scientists and
economists answe these questions
with an overwhelming yes" The
leading commercial men bad aban-
doned their former hostility to BIZ
metallism and had come to the
conclusion that the only way to
meet tue grave danger was to re-
store silver to its former plnce as
a circulating medium.
Letters in support of bimetal-
lism were received from Gen. f.
A. Walker, Archbishop Walsh,
Prof. L. B. Andrews, of Brown
University; II. W. Cannon, presi-
dent of the Chase National Bank
Of New York; DIR. Arendt, the
German fluancier, and others. The
following cable message was also
received and read:
"THE LORD MAYOR OF LONDON,
Mansion House, London:
We desire to express mi cordial
sympathy with the movement to
promote the restoration OF silver
by international agreement, in aid
of which we understand a meeting
is held today under Your Lord
ships presidency. We believe
that the free coinage of both gold
aud silver by international agree
ment at a fixed ratio would secure
TO mankind the blessing of a sufh.
cient volume of metallic money
and, what is hardly less important
secure to the world of trade immu.
nifty from violent exchange huctu.
atoms. [Signed John Sherman
w. b. Allison, ID. w. Voorhees,