The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1895-04-12
BALDUR FOR BIMETALLISM.
Declares the Sentiment Is Growing
ali Over England.
GOLB-BUGARGUMESTS RIDECuLED.
The Double standard Would Not Cause
the Depreciation Of Gold-PrOsper-
ity Demands Bimetsllism,

N%~N- ~N--~-+S NASSO "a SoC4t WrAS Lulu
George Hamilton, the duke Of Fife, and
Sir Donald H. McFarlane, and Sir
Charles Il. Vincent, members of the
house Of commons. Rt. Hon. A. J. Bal
four, conservative leader in the house
Of commons, made a strong speech in
favor of a double standard. He said
that the belief in bimetallism was grow
ing, not only in London and elsewhere
in Great Britain, but throughout the
civilized world. One great change was
noticeable. It was seldom now asserted
that bimetalism was intrinsically i'm
possible. Formerly a bimetallist was
regarded as a dangerous faddist.
Economists who placed value on the
lessons of experience had before them
the irrefutable fact that while the Latin
nations maintained the bimetRllic sys-
tenn the par of exchange with gold and
silver was presented for the whole
world, despite wars, industrial FevOlu-
tons, aud discovery of the precious
metals. Some persons admitted that
recommendation in a large portion of
the world had deprecated prices and
put bound on imports. Thus, for in
stance, Great Britain bought from In
dia and other countries wheat at
price below its legitimate value, and
these persons figured that this was an
advantage to the consumers, and there
fore benefited the mass of the COM
munity. Mr.. Balfour declared, how
ever, that nobody in the city was so
foolish as to suppose that the interests
Of Great Britain we're benefited by an
unlimited fall in prices; nor that any
large body Of city men were so unseru-
pulOus as to desire that the debts owed
by foreign nations should be artifeiaily
augmented by change in the value of
the currency in which they were paid.
Another argument was that the bank
ing supremacy of London would be
threatened by currency change, but
no monometallist was ever able to ex.
plain how. He commended that London,
as the financial center of the world,
would gain rather than lose by any
thing placing the currency of the world
on a sounder basis.
The third argument was very absurd.
This was that a change would depre-
ciate gold, and therefore persons hav.
ing deposits in banks payable in gold
would withdraw them instantly. The
change threatened thus to cause such
a commercial crisis as the world had
never seen. This argument was sup
ported by Gladstone and Sir William
Vernon HaTcourt Though a panic
was probably unreasonable, there sp.
peared to him no grounds to suppose
that the people would do anything SO
inordinately silly as to withdraw their
deposits because the worlds currency
was going to be put on stable basis,
which, except in particular interna-
tional transactions, they would never
discover, and except for its slow effect
on the great movements Of commerce
would have no effect on private indi.
yidual convenience.
Fhe fourth and strongest argument
was "let well enough alone" But BIZ
metallists asked was it well enough?
People talked of the excellence of the
British system, but they find, although
the geld standard obtained in Great
Britain that silver is the currency of
Hong Kong and the Straits settle
ments, while in India debts are paid in
something which is neither silver nor
gold, but the straHgest product Of
ingenuity the world has
ever seen, and as arbitrary as any
forced paper currency, and as expen-
siye as any metallic currency the
world has ever heard ola standard
varying according to the arbitrary viii
Of the finance minister of India. This
triple system was manifsstlv ridicu-
Ious. Some alteration Of this system
WIS impsFatiyeiy required. If BTitons
would turn 70 the world at large they
would find the case much stronger. To
home interests alone ia FRAN
.ng a currency, while Great Britain
vas connected with foreign countries
By every commercial tie, was a viola
lion of the common sense Of evsry
practical business man. When the
country depends for It's very bread on
foreign nations, and If it we're cut of
could not i've q day and would have
-uin staring It IN the face, It was the
height Of folly 20 attempt isolation re.
8pseting the currency Medium he
lid not believe that the common sense
# the nation would long tolerate sucb
J state Of things. In view Of what Ess
proceeding in America, Germany and
France. aud even il Great BsftGin. he
Eas convinced thsb msn Of 81 GLASSES
goRld sosncomsine 10 end tsetegl0gcA
q Our eislIE6sssoH.