The Caucasian. (Clinton, N.C.) 188?-1913, 1895-07-04
BinETALLlSM IN ENGLAND.
An Ineident 81 the Fight for silver In the
Land Of Jew syndieates-

Land Of Jew .yndieases-
The CAUCASIAN recently printed
q ''memoriar" from the Gold Defend.
ers Club, of London, to the English
Minister of Finance. That official
replied to the gold bugs telling them
that the English government would
not consent to anything bat q gold
standard for that country. This
has led to some activity among the
silver men of that country and one
of their actions is reported by Bal
lard Smith in the New York World
as follows:
IL have been given to- ght advance
proofs OF a memorial to be sent to the
Chancellor of the Exchequer by the
BImetallic League, signed by many
politicians, bankers, merchants and
representatives of the working classes.
1t attacks the contention of the mono
metallists that the prosperity Of Eng
land is dse to the gold standard.
These results, say the memorialists,
were achieved before the adoption of
the gold standard in this country. And
1T must also be remembered that dur
ing the chief part of that period, for
nearly sixty years after 1916, all the
business of this country and of the
world was conducted under the dOmi-
mating influence of the bimetallic sys-
TEN.
$50 long as that system was main
tanned by the action Of foreign coun-
tries there was little if any fiuctuation
n hn rnln ,al, of
gold and silver; the parity between
the two metals for all practical pur-
poses was steadily maintained, the
standard of value was comparatively
stable, industries fOurished, general
prosperity increased and the commerce
of this country was conducted with
equal facility, whether with gold or
silver using countries, in all parts of
the world.
Moreover, it is fact that the very
evils which your memorialists allege
will happen from any change or mOdi-
flcatlon in our currency have Overtaken
us already under the operation of our
disturbed, the burden of the debtor has
been doubled, property is deprecated
and enterprise is checked, with a cor
responding loss of capital embarked in
industry and of employment to the
working classes. Surely, these are
matters of grave and serious import
ance, which deserve and should COM
mand attention; and yet they appear
to be entirely ignored by your memo
rialists in the city of London and not
even to have entered into their con-
sideratiOn.
"'We think, with great respect, that
with the general and widespread de-
preston in the textile, coal, iron, ship
ping and other great industries of the
kingdom, with a Parliamentary COM
mittee sitting even now to inquire in.
to the condition of the unemployed
and with agriculture grievOusly af-
fected, and in many districts well
nigh ruined in addition, it may be well
for your memOrialists to remember
that it is upon the welfare of her COM
merce and her industries even more
than on her banking interests that the
prosperity of our country and her peO.
pie ultimately depends.
"'The experience of history, the
teachings of science and the conclu.
sions of authority expressed in the
unanimous report of the Gold and Sill
yer Commission unite in supporting
the opinion that under the operation
of this system the relative value of the
metals was successfully maintained
and that under any conditions to be
reasonably anticipated similar results
must be expected in the future.
The memorial is signed by Mr.. Gibbs
former Governor and at present di-
rector of the Bank of England, and by
thousands of other names, the most
important of which l have already
cabled to The World as being in favor
of the bimetallic movement.