Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-24
1t is Said Republicans Will Be Solii
for Bimetallism.
WHILE DEMOCRATS Will Be DIVIDED
Utterances at the International
Conference Recalled.
EN- GLAND ATTIT UDE

or the political gosSipS at the national capi-
tai that the next few months will find the
republican party aligned for bitmetallism
and the democratic organization divided
into distinct and avowed gold and silver
monometallistic factions. This belief it is
explained. is based upon some recent events
and upon a review of past occurrences.
The people who entertain this opinion say
that nothing further is needed to demon
strate that the democrats will divide upon
gold and silver monometallism than the
Presidents recent declaration of the CON-
Ing fight lying between sound money and
silver monometallism, and the subsequent
announcement of some of the party leaders
In favor of gold monometallism. This, in
connection with the efforts now under way
In several states east Of the Mississippi to
get free silver conventions, is proof posi-
tive. they say, of the great chasm that is
yawning in the democratic party.
The Republicans and Bimetallism.
1t Is claimed that the republicans propose
to avoid precpitating any such severe is
sue In their own party. and are going to
begin early to take the firm ground that BIZ
metallism is a possibility and not hopeless
case, as represented by democrats Recent
utterances Of prominent republicans, SEN
ator Allison and ex-President Harrison in
particular, are pointed to as straws indi-
eating the trend Of opinion in the republi-
can party.
In this connection references are being
made to the developments before the inter-
national monetary conference, and the
statements Of the prominent financiers Of
the world at that gathering are being re-
called and invested with peculiar interest
at this time. One statement which was
made at that conference is distinctly re-
membered by many politicians. who have
seen what they claim Is fulfillment of a
prophecy made. NJ. de Rothschild one of
the delegates Of Great Britain. and recog-
nized as repres ,nting the sentiment Of that
government at the conference, made this
statement, IF this conference were to
break up without arriving at any definite
result there would be depreciation in the
would be frghtful to contemplate, and out
OF which q monetary panic would ensue,
the far-spreading effects Of which 1t would
be impossib!. to foretell." That prophecy
was made In November. 1892. The confer
ence did adjourn without arriving at any
definite result, and the following summer
cial and industrial depression which every
one recalls.
Englnnds Standards.
One of the reasons which have frequently
been ascribed as a cause of the adjourn
ment Of the conference without arriving at
a definite result was the hostility of Great
Britain toward bimetallism. That hostility
amounting to the most vigorous opposition.
was expressed by Mr.. De Rothschild who
said: THAT a gold standard for England
was the only possible one. and If We con-
slider that the whole of her commerce and
the great part of that Of other countries is
carried on by bills of exchange on London
which are naturally payable in gold,
think 1t must be admitted that the world in
general transacts it's business on a gold
basis, and that In reality such a thing as a
double standard, except In very modified
form. does not exist even in those coun-
tries who profess to pay In either Of the
owes a great part Of her enormous wealth
to the confidence which her monetary sys-
TEN hac inspired, both at home and abroad |;
confidence based on the fact that our bank
notes represent sovereigns, and that a bill
drawn upon England from any part Of the
world will at maturity be payable in the
same metal Apart from other
considerations, 1t seems to me impossible
to come to universal arrangement in
respect to q general currency question, as
no two countries are alike as regards their
individual wealth, resources and expendi-
ture." Mr.. De Rothschild expressed the
hope that he had "conclusively shown that
bimetallism for England is an absolute
impcsslbility."
This view met the concurrence Of Sir
Rivers Wilson. another delegate Of Great
Britain, who, speaking for himself and for
Sir Charles Fremantle. said: Our faith is
that of the school of monometallism, pure
and simple. We do not admit that any
other than the single gold standard would
be applicable to our country" 1t was ad-
mitted on all sides that no agreement In
behalf of bimetallism. which would be ef-
fective could be reached without the con-
currence of Great Britain. and such con-
, currence seemed impossible In view of the
statements of the leading delegates OF that
country.
A Strong Bimetallic Sentiment.
There was a strong bimetallic sentiment
at the conference. however. and even the
British delegation contributed to 1t. Sir
William Houldsworth Of the British dele
cation, in reference to the general fall in
prices and financial depression. said: II
frankly admit that, in my opinion. there
will never be a permanent solution OF this
d.fficulty until we have an international ba-
metallic agreement" Sir Guilford Moles-
worth, delegate of British India in making
an argument in behalf of bimetalliSm, quot
ed the remarks of Mr. Gibbs. late governor
of the Bank of England, and Mr. Goschen,
late chancellor Of the exchequer OF Great
Britain, as follows:
"Mr. Goschen and were together on the
conference in Paris; both of us were sturdy
defenders of gold monometallism, but
have changed my mind. do not say that
Mr. Goscher has changed his mind. but he
has somewhat modified it,. MIR. Goschen
was Quoted as follows: .'There is class
of monometalllsts who say that bimetallism
is ell nonsense, and they cannot under
stand what 1t means. Now, l 40 not think
1t is nonsense at all. 1 think 1t Is very
serious demand for a change, which, II
adopted, would produce very large results"
1t is now claimed that these arguments
show that even as far back as 1892 there
was strong bimetalic sentiment in Eng
land, which has been signally increased
and accumulated by the great financial de-
preston consequent upon the fulillment
of Mr.. de Rothschild's well-remembered
prophecy that disaster would follow IL sill
yer were not protected In some way. 1t Is
claimed that the last two years have
demonstrated an Increase in the bimetallic
sentiment of Eugland-that Is, among the
Industrial classes-as in this country, bor-
dering in a degree upon the extent of the
spread of bimetallism among the people of
the United States. The political gossips
admit that there may Rave been no change
of feeling on the part of the De Rothschild
element, but that on the contrary the De
Rothschild element has succeeded in i'm
pressing gold standard ideas upon many
Americans.
American Sentiment.
The point is made, however. that the
mass of the people. the element that it is
claimed will eventually determine the fiscal
policy of the nation, are showing q de-