Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1894-06-28
REED ON BI-METALLISM

a fact, nevertheless, that ex-
Speaker Reed has committed
himself to a sort of bi-metallism.
We say "a sort of bi-metallism"
because it is not of the kind
which has found favor in the
eyes of the advocates of the free
coinage of silver, nor is it of the
kind which Mr. Sherman and
other leading Republican states
men Rave heretofore advocated
namely, burlesque bimetal-
ism, which would coin silver
dollars each of which should
contain a gold dollars worth of
bullion in it.
Mr.. Reed and Mckinley are
the leading competitors for the
next Republican nomination for
the presidency of the United
States, and seem TO be running
Just now race which will result
in making either the one or the
other of them the standard bearer
of the Republican party in 1896.
We have heretofore quoted sew
eral times Mr.. McKinley's words,
as these are contained in the sill
yer resolution of the Republican
State Convention of Ohio,
adopted week or two ago. But
we have not heretofore quoted
Mr.. Reeds own words, which
were uttered by him recently to
an English visitor to Washing
ton, and reproduced in the Lon
don Folttightly Reuie,o Mr.. Reed
said:
If the Indian crisis does not
force England quickly into a
larger Latin monetary union,
which union we will join gladly,
then there must come a time for
the nations friendly to bimetal-
lism to unite not in a monetary
union, but a tariff union, recipro-
city being the reward of free
coinage for silver. This should
be our aim in America. <
It is evidently important fol
debtor nations, on which list we
stand first, to raise the price OF
silver, and thereby reduce that
bounty on exports which Asia
now enjoys. This can be best
done by a monetary agreement
| with other nations favorable tC
silver, and by such a scale of high
tariffs against those nations which
reject monetary agreement as viii
go to insure us a favorable bal
ance of trade"
Mr.. Reed says the United
States will gladly join a larger
Latin monetary union-a declara
ton which we are pleased to see
There is no other method of Sc
curing an international currency
nor an international full remone
tization of silver than that which
Mr.. Reed suggests, if, as we un
derstand his words, he is an ad
vocate of an International bimet
allie conference which shall b.
&. empowered to recognize th'
fact that silver is an indis
pensable part of the currency
of the world. Mr.. Reed woult
gladly join a monetary uniol1
larg er than has heretofore existed
So far he is in the right path
but we are afraid that he wan
ders from it when he proposes t.
adopt scale of high tariff
; against those nations, which re
l ject the monetary agreement. l.
this retaliatory manner woul
Reed proceed TO insure to TIL
United States a favorable bal
ance of trade; and the balance o
trade being in our favor W
l would not need to ship gold t
4 4 any of these nations whic
E should fail to enter an enlarge
monetary union.
Reeds proposition reminds u
at once of Mr.. Blaine's reciproe
ity treaties. There may b
something in it. It is a rar
5 spectacle to see Reed and hi
followers pretending to tral
: 9th the silverites, Or rather az
: voeating a new silver scheme.