The times. [volume] (Richmond, Va.) 1890-1903, 1895-03-12

Mr.. Editor: l take the following from
the London Times, just to hand:
Lord Farrer on the United States:
At the annual meeting of the Guardian
Investment Trust Company QimitedD last
week, Lord Farrer, who presided, said
there was a faling-of in revenue by
1868 Dealing with certain economic and
political causes which he thought ac-
counted principally for the existing de-
preston, he said that the Americans and
others were decelying themselves in sup
passing that they could recOup themselves
for the falling-of in prices by increasing
the quantity of their money. Many of
them Seemed to think that if they could
pay in silver instead of gold prices would
be better. 1t was a folly to suppose that
by adding to the counters by which
they did their business they would there
ID increase II. What aggravated the
situation in America was that people
were withdrawing their money from II
owing to their lack Of confidence. Unless
the United States should make clean
sweep Of the present state of things, and
set matters right quickly there was dam
ger that they might be in no better posi-
ton than the bankrupt States Of South
America. and that that great country
manned by millions of the most industri-
GUS and intelligent people In the world
with every resource that nature Could
put al their command, might become
insovent through the mismanagement OF
its governing classes and the action OF
the silver men. He had nothing TO say
against President Cleveland, who was
pertaining his duty nobly and honestly.
He then moved the adoption OF the re-
port and the declaration of a final dlvi-
dend at the rate OF II per cent. on
the preferred stock"
Lord Farrer. who thus voices the Opin-
ion of the city of London on our financial
heresies. is not an old member of the
English peerage, with antiQuaJed financial
ideas. but a gentleman. who, through a
long life. has served the Crown in the
civil service, mainly In the Department
OF the Board of Trade. and who for years
has been regarded in England as one
Of the leading authorities on financial
and ecouoml. questions. As reeogni-
ton of his ability and services he was
raised t. the peerase by Mr gladstone
two Or three years ago.
Ira thus speaking he voices, | believe,
the sentiment Of England on the silver
question. 1t is foolish for our people mere
10 run away with tho idea that there is
anv reasonable probability Of England
departing from her long standing position
on the currency question IL IS true that
there is party there aeitating ln taNof
OF bimetalllsm. but H. is almost entirely
confined 10 those Interested IN trade with
India. China and tue East. and though
these comprise a number so considerable
that the present Government of England
with its bare majority of fourteen IN
the House OF Commons, cannot Afford
10 quarrel with them. and hence the
acceptance Of the motion IN favor OF
further conference on the silver ques-
ton recently, yet they represent but a
very small proportion OF the thought
influence and wealth OF the nation, and
the assumption that they can change
the nations long-standiHg policy is IL
win one How. In addition, it can
be assumed that Germany ana Austria
are likely TO depart from the position
they have so recently taken al srea,
cost to each nation, in adopting the soi1
standard. / fail 10 see. The sooner our
people understand and appreciate THESE
hard facts, the sooner we are hkely 10
get down TO business and prosperity.
j. l.. JACKSON.