Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1895-04-05
SILVER AND GOLD.
A Western Mans Views Aired on
wall Street-BaifOur speaks
Plainly In England.

AAoAhfy ia AAnbA0h"
New York, April 5.--Edward Brush
secretary of the Consolidated Kansa
City Smelling and Refining company
who is recognized authority on all mat
ters pertaining to silver, talked last nigh
to reporter on the recent rise ii silver
it's causes and the probable future of the
metal. He said in part:
"Without doubt it is expected that with
the cessation of hostilities between japan
and China the demand will increase. II
is now being whispered by those failing
to see the real cause for this advance, that
| the indemnity demanded by Japan will
be in gold, and not silver, aud that for
this reason the speculative movement
will fail. My opinion is that there are
legitimate trade reasons for consider
able advance, but doubtless, on account
of the erroneous opinion that specula-
tion has been based upon the expected
indemnity should it prove to be in gold,
it may have temporary effect to check
the advance.
at was my privilege to learn, about
two months ago, from one of the financial
advisers of the Japanese government,
their expectations in connection with the
indemnity. This was that it would be
demanded and paid in gold. Notwith-
standing what has been said to the con-
trary, the Japanese government does not
desire to place its currency upon gold
hesis, neither does 1t believe that it
u. .buld be possible for China to arrange
i ith European bankers to deplete the
gold treasures of Europe to the extent
of the indemnity which it will demand. 1t
does expect, however, that this gold in
demnity will be placed to the credit of
Japan in the trade centers of Europe and
will be used there as ban king cap
ltal to make such purchases of silver, war
supplies and general equipments as its
necessities require.
"The Japanese government has made
during the war internal loans for $780,
100000 in silver. As its banking credit
will bring them in only about per cent
interest in Europe, and its silver debt is
costing to per cent in Japan, it will
certainly be to the interest of the Jap
anese government to buy, as fast as it
can be done judiciously, silver with its
gold credit to repay its international
loan.
"The expression of English critics of
the belief that-Japan will get on gold
basis, is father to their wish. The en-
deayor of the English government to
place India upon gold basis has SO far
been most dismal failure, resulting in
placing the exchange of India Is to 20
per cent above exchange of China and
Japan. This has resulted in largely de-
creased expectations from India and
largely increased expectations from
Japan. Should Japan place her finances
upon gold basis she would Immediately
lose this advantage and place it in the
hands of her principal rival, which must
continue upon silver basis. The Jap
anese are apparently shrewd enough to
see this situation and to govern them
selves thereby.
BALFOUR's BRAVE WORDS.
London.-At the annual meeting of the
Bime talllc League at the mansion house,
the official residence of the lord mayor
of London, Sir Joseph Dimsdale pre-
sided. Among those present we're Lord
George Hamilton, the Duke of Fife aud
Sir Donald Fl. McFarlane and Mr.. Charles
Fl. Vincent, members of the house of
commons.
Right Hon. A. J. Balfour, conservative
leader of the house of commons, made
strong speech in favor of the double
standard. He said the belief in BIZ
metallism was growing, not only in
London and elsewhere in Great Britain
but throughout the civilized world. One
great change was noticeable. 1t was
seldom now asserted that bimetal-
ism is intrinsically impossible. Former
ly bimetallist was regarded as dan
gerous faddist. Economists who placed
value on the lessons of experience had
before them the irrefutable fact that
while the Latin nations maintained the
bimetallic system the par of gold and
silver was preserved for the whole
world, despite wars, industrial revo-
lutions and discovery of the precious
metals.
People talk of the exoellency of the
British system, but they find, although
the gold standard obtained in Great
Britain, that silver is the currency of
Ins 49, a;a T..
wnAe ~ 10y :nua "a uoo;s o;.ha a E aiS
mug whlcn is nei'nes ss. s.A'et % Nv. soa.'
ou. 'ne s'rausesv p.oou.' " nonomeS
and as arbitrary as any forced paper cur
rency and as expensive as any metallic
currency the world has ever heard OLA
s1anoarI .arylng ouoo aosounf ;n;o.o W 'o 80 G ~
siary wn wti % :n9 uaaou an..o ',e n;e..i, M
u'a: ln.s ol,p.e s1Sto 1,te.o.;" ~a' 0sy ~.
tenn was lmperatveiy requlteo.
ol.an Ita ",,,a wuJ.' . s,,a ~ 49, W." wo',u uah AZ
stronoar. TO consider home interusts
alone in framing a currency while