Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-07-05
A HOPEFUL VIEW.
THE BALANCE OF TRADE WILL BE
IN OUR FAVOR.

More HCiviI Service, Commission.
Suggcsted-The Cold Shoulder 10
Harrison-The New English Pre-
mier Favors the White Metal.
Regular Correspondence of the STANDARD.
WASHINGTON, June %, 1895.
No member of the administration
takes any stock in the predictions
being made in some quarters con-
corning the probable early run that
will be made on the gold in the
Treasury, now that the bond syndicate
has made its last payment OH account
of bonds purchased. On the contrary,
members of the administration con-
slider the outlook very cheerful. The
Treasury now has little more than
500, 5000 in gold, and officials do
not expect that amount to be material.
ly reduced during this year, and their
confidence has a solid foundation
Gold only goes to Europe when some
body can profit by its shipment. The
season for the shipment of our agri-
cultural products to Europe is now al
most open. and those shipments al
ways make the balance of trade in
favor of the United States for time,
and if it does not bring us European
gold it gives us balance over there
which prevents our having to sent any
gold over for some time. Besides, I'M
less all the big financiers are mistaken,
the demand for American securities
of all kinds is once more on the in-
crease in Europe. The unloading
Of those securities by European
holders has been one of the reasons
for sending American gold to Europe.
There is no good reason for the pre-
dictions which have followed sensa-
tional statements as to the reason why
the bond syndicate made the last pay
ment on those bonds this week, instead
of waiting until next October, IS their
contract allowed them to do. The
matter was probably closed at this
time because the syndicate found it
convenient to do so. and it is nonsense,
in the opinion OF Treasury officials, to
say that the syndicate has designs upon
the gold it has paid into the Treasury.
Secretary Olney is thinking very
seriously of applying competitive ex-
animation methods to U. S. Consular
service, so far as their nomination to
office is concerned, of course they
would have to take their chances OF
being confirmed by the Senate after
passing the examination and getting
nominated. 1t is admitted by all
travellers that the longer consul re-
mains in office the more useful he be-
comes to the country he represents, and
European governments never think of
removing a consul, except for cause.
Secretary Olney, in addition to the ex-
animation Of consuls, would like to see
the service placed on permanent
basis, so that young men would take it
up as life career.
Much significance is attached by
Republicans to an interview with
Representative Cannon, of Illinois,
which was published in Washington
this week. 1t wasn't what Mr.. Can
non said that attracted attention, as
his talk is not considered important
he does too much of it,-but what he
didn't say. He occupied nearly a
column discussing the Presidential
possibilities of his party, mentioning
Reed, who he is supposed to favor, Nc
Kinley, Allison, Morton. Cullom and
even "Cush" Davis, but leaving out
Mr. Benjamin Harrison, nOtwithstand-
ing that gentleman's recent attempt
to have himself considered the leading
candidate for the nomination. As Mr..
Cannon has just returned from an
eastern trip his interview may be part
of plan of the Reed men to kill the
Harrison boom by ignoring it.
Great interest is felt in Washington
in the change of administration in
England, because OF the bearing it
may have on the silver question in
this country. Lord Salisbury, the
new premier, is friendly to silver and
Mr.. Balfour, a member of the new
cabinet, has parliamentary record as
a bimetallist Of the most advanced
type. 1t is natural, therefore that
hopes should be INDUCED that Eng
land might change her policy of op-
position to silver and join in move
ment for international bimetallism.
1t is just as we'll, however, to remem-
Der when indulging in such hopes that
in England the national finances have
never figured as an issue in politics
and that, unless there is a radical up.
heaval of precedent, the personal opin.
ions Of Lord Salisbury and Mr.. Bal
four will not be sufficient to change
the financial policy of that country
1t is quite certain, however, that if the
coming parliamentary elections shall
result in favor of the conservative