The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-03-26
The Rapid Change of Opinion
In European Countries.
OBSERVED BY JAMES j. HILL.
Even England viii BE Compelled to
Advocate Bi-metallism.
The Cheap Labor OF Asia. Paid I'm ~if-
yer. Making Troublesome Connects
tion for English Manufacturers
Why Continental Nations Are be-
pendent on England.

81 Paul. March e. President J. ]. I'm.
or the Great Northern. well known as an
able nnancier. has just reached home aft
er an extended visit IN Europe and in
the Eastern states. His statements ara
ot general interest. tie said.
Il found there was a great depression
In some of the countries of Europe. par
ticularly IN Great britain. and more es-
pecially iG the cotton and iron Industries.
The United States Is EugIaaa's best GUS
toner. and our imports have been largely
reduced. 20 the adv aRiage OF this country
and 70 the corresponding disadvantage of
Great Britain. The English manufacture
ers and landlords owning agricultural
lands are taking q very active interest in
bl-mctallism and the greater use OF sii-
yer They are realizing fully that Argen-
tine. Australia. the East Indies. China
and japan, who are on a silver basis.
forcing their labor 70 accept in payment
silver. which they buy for about S. per
cent or the value of gold. have a margin
on the labor alone that enables them to
uudersell the English farmer or mana-
factnrer In markets which England has
heretofore controlled.
England IS either compelled TO give np
a large amount of the worlds trade which
ste has heretofore controlled. or Increase
tha use OF silver In the world 20 such an
extent that it will not be possible for her
compe tltors TO take advantage OF the low
er cost of their labor growing out ~ tha
difference of gold and silver. IL the sill
Yer men in the United States VIII only
let congress alone and leave the matter
10 be worked out hy the commercial pro-
fit and loss account Of Great Britain. ths
latter nation viii be- compelled to Join
with Germany France and 0rir own coun-
try in bringing about a condition OF
things that VIII enable the English peo-
pie 10 meet the competition of other ma
tions on something Ike an equal footing.
"The feeling abroad against all classes
OF American securities. whether national
or otherwise was very intense. Good
and bad were more or less ciaSsed alike.
This feeling however. Is gradually wear
Ing away.
'sThe low prices of wheat have al
ready found. during the past year. new
market for that product. The California
and Pacific coast wheat. that has here
tofarc gone 10 Europe. Is now going IN
shtploads 70 China In the form of flour.
where Il is taking the place OF rice. Tor
merry used by the Chinese"
HAS your opinion changed regarding
the ratio Of gola and silver
THAT Is irnma terfaI The proportions
of gold and silver taken for i.91 years.
as long as We have history upon tho mat
ter remain practically the same For
period of ten years or more one or tho
other may show slight change. but tbs
ratio remains at 19tE or IA 10 l. Aftt Et
gold and silver were interchangeable for
so many hundreds OF years In the past.
II Is difflcult 80 see what has occurred 70
prevent changeabiiity now. provided all
nations are willing 10 receive IT.
What did YOU find the feeling regari-
ing an International monetary confer
encs2'
France and Germany are willing and
the landowners and manufacturers of
England are now wagink an active cam
y.algn 10 bring the British government to
recognize tho necessity ~ enhancing tho
value % silver not so much for the rea-
son that they like silver any better. but
that they desire TO Increase the cost or
silver paid 10 labor TN other countries.
and in that way 20 increase the cost OF
production OF the many commodities that
England IS Interested I'm supplying tho
world with aud in restoring the value OF
her own agricultural lands"
why cannot the other nations act In
.dependently Of England"
simply because England. or London.
~ the financial clearing house OF tho
world. and all commercial balances are
practically adjusted through tho meltir
of sterling exchange or British credit.
Mr. I'M thought the present ratio OF
isis 10 would he as good as any other.
provided all parties agreed 70 accept II.
This view ne basel on tho proportion of
the two metals IN the world.