The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-03
AMERICAS OPPORTUNITY.

The German Bimetallic Union is re-
ported to have adopted resolutions declar-
ing that as the bimetallic movement in
Great Britain is apparently on the eve of
victory, and as public opinion in Germany,
even in Government circles, is governed by
the prejudice that it would be doubtful
policy to attempt to carry out international
bimetallism with the cooperation of
France, the United States. etc., so long as
England adheres to the gold standard;
therefore the German bimetallists make
Germany's action on the currency ques-
ton dependent on England's participation,
provided the Government will immedi-
ately take measures to urge the adherence
OF England to the bimetallic programme.
If anything were needed to rouse the
ardor of American bimetalIists, this resolu-
ton would probably do so. 1t means
practically that the nations of the earth
are not to reform their currency unless
Great Britain gives permission. The quail
Tying clauses are very faint and there are
only two of them. The first holds out the
hope that England will return to bimetal-
ism OF her own will and the second sug-
gests that the German Government should
urge her to do go. II the hope fails and
the urging should be of no avail it would
seem that Germany is to take no action on
the currency question, and theoretically it
is implied that the rest of the world must
wait also. This is what will arouse the
American. To our people there seems no
reason why the whole world should wait
on single nation, or why the British
Parliament should be left to determine the
arlrranou IF tbo Tritad
1t was only few days ago that the CALL
published a digest of recent paper of the
great statistician Mulhall on the compare
tive wealth of the United States. Accord
ing to the estimate made by that eminent
authority, this country has nearly as much
industrial energy as Great Britain, Ger
many and France combined, and the COM
mercial energy is perhaps greater still. If
the financial policy of the world therefore
is to be determined by the course of any
single power, it would seem this country
should be the determining factor and that
if we were to have the cooperation of such
nations as Germany and France, there
would be little need to wait for the action
of England.
The hope that the bimetallists are on the
eve OF victory in Great Britain is more
sanguine than present conditions justify.
That country is not likely to take the lead
in return to monetary system that will
largely deprive her of her power over the
financial world and seriously diminish her
profits from investments abroad. The ex-
pectation of any good to be derived from
such measures as the German Government
is at all likely to take in urging British &C
ceptance of bimetallism is hardly any bet
ter founded. So long as other nations
maintain the single standard, so long will
England do SO. The only solution of the
problem is for some great nation to go for
ward in the path of monetary reform, and
then by reciprocity treaties offer CONNER
cial advantages to such nations as follow
her example. The only country fitted to
do this with any chance of success is our
own, and it would seem to be good oppor-
tunity to prove not only our financial in
dependence but our superior prestige
among the nations of the earth.