Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1895-08-31
WHY CAREEwHAr orHks ma
Tross Dor


brought as information that Mr.. Balfour.
the leader Of the largest majority in the
English House Of Commons OF modern
times, had on the previous day set q seal
Of disappointment on the hopes OF those
silver men who had been counting on 40
international agreement in favor OF BIZ
mstaIlism. While bis views, previous to
the incoming Of The new administration,
bad always been considered favorable 10
silver, be stated that he had no right TO
pledge his colleagues to . opinion favor
able to an international agreement upon
the currency question. nor. had he any
reason fer thinking such an agreement
would result at the present moment from
an international conference.
That settles the matter as to what
England will do. but the silver men OF
America are not 20 much disappointed as
the dispatches indicate. England de-
monetized silver in 1916, and for nearly
so years since. her financial policy. ct
that time established. has become 9 stable
fixture Of the English Government. We
have all along believed that the utter
ances Of the leaders Of the Conservative
party in England were mere expressions
Of individual opinions, and as that party
constitutes and represents the aggregated
wealth Of Great Britain, their coming
into power, we had naturally concluded,
would have no effect on Englsnd's future
financial policy. Even should England
OF HER own voLITIoS invite the govern
ments Of the leading nations OF the
world to join Z in an international
monetary conference, does any sensible
American believe. that she would indorse
q financial policy that would lop of mil
lions Of pounds sterling.from the annual
profits she derives from deprecated sill
yer, the produce Of other countries,
through her Indian and Oriental trade,
and the interest she annually collects in
gold on foreign bonds which constitute
the major part Of her investment OF
capital that would lie idle if it depended
en- the opportunities for its profitable
employment in Great Britain or the
British colonies, Should England con-
sent to q representation at an inter
national monetary conference. it would
indicate only one thing. and that would
be her desire and intention to settle at
once and forever the financial policies OF
all other nations in her own favor, as the
greatest creditor nation Of the world.
Why then should the United States care
what England or any other creditor ma
ton does! We can raise and manufac-
ture within our own confines almost
everything that can be raised or manu-
featured in any part Of the world, and
we have upwards Of seventy millions OF
inhabitants to onsume . great part OF
the product. What we cannot use at
home we could send abroad; there would
be a demand for the surplus under any
circumstances, and the balance Of trade
would be in our favor, end we would not
need to be forever in q panic stricken
and uncertain condition by sending our
gold abroad for the profit Of the extreme
wealthy classes Of other nations. 1t Ii
true that much Of our export trade would
be cut off unless adequate measures were
adopted to prevent it; but the free coin
age Of silver by the United States would
have the desired effect. England now
buys that metal Of us at less than one
half Of it's normal or standard value and
| invests ID in Indian wheat and other pro-
ducts of the silver using countries and
lays them down in Europe at about one
half Of their normal market value
America, by reason Of her commercial re-
lAtions Of home and abroad, is compelled
to place her products and manufactures
| upon the markets Of the world at compel
tive prices; hence, the market price oil
silver controls the market price OF Ameri'
can wheat. England pays as much fol
Indian as she does for American wheat,
and as there would be . large demand fol
American wheat under any conditions,
the price Of silver would control the
price of ID and also Of most other Ameri
can products in the same proportion
Knowing these things to be true, why
we should be controlled in our financial
policy by England or any other Euro
pesn nation 10 beyond the ken of any
sensible thinking man.