Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-06-21
Rned on Rimatalliam.

We have heretofore referred several
times 70 the fact that ex-Speaker Reed
has committed himself TO sort OF hi
metallism'' because II Is not Of the kind
which has found favor in the eyes OF the
advocates Of the free coinage OF silver.
nor Is Il Of the kind which Mr.. Sherman
and other leading Republican statesmen
have heretofore adyocated-namely bur
lcsque blmetallism, which would coin sill
yer dollars each OF which should contain
a gold dollars worth OF bullion In 1t.
Mr.. Reed and Mr.. Mckinley are the lead
ing 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 Republi-
can party In 1896 We have heretofore
quoted several times Mr.. Mckinley
words, az these are contained In the sill
yer resolution OF the Republican state
Convention OF Ohio, adopted a 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 Washington. and reproduced in
the London FortnsNtly Review. Mr..
Reed said:
"If the Indian crisis does not force Eng
land quickly into n larger Latin monetary
union, which union we VIII join gladly,
then there must come time for the
nations friendly "a bimctallism TO unite
not in u monetary union, but q taiiii
union, reciprocity being the reward Of
free coinage for silver. This should be
our aim ia America. IL is EVIL
IDENTIFY important for 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 bc best done by
monetary agreement with other nations
favorable TO silver, and by such scale
Of high tariffs against those nations
which reject monetary agreement as Will
70 far 10 insure us favorable balance
of trade"
Mir. Reed says the United States will
gladly Join a larger Latin monetary
unlon-a declaration which We are pleased
10 see There Isl TO other method Of Sc
curing an international currency nor an
international fun reconciliation Of sill
yer than that which Mr.. Reed suggests
II. as we understand his words, he Is an
advocate of an international bimetallic
conference which shall be empowered TO
recognize the fact that silver IS an in
dispensable part of the currency of the
world. Mr. Reed would gladly join a
monetary union larger than has heretofore
existed. so far be is in the right path;
but we are afraid that be wanGers from
it when he proposes 20 adopt scale OF
high tariffs against those nations which
reject the monetary agreement. In this
retaliatory manner would Mr. Reed pro-
coed TO insure 10 the United States a
favorable balance of trade; and the
balance Of trade being in our favor we
would not need 10 ship gold to any OF
those nations which should fail 10 enter
an enlarged monetary union.
Mr.. Reeds proposition reminds us at
once of Mr.. Blaine's reciprocity treaties.
There may be something in it, 1t Is a
rare spectacle to see Reed and his fol-
lowers pretending TO train with the sill
vcrites, or rather advocating a new silver
scheme