The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-05-15

IT IS SAID REPUBLICANS WILL B]
COTrn rs0n nrrrrrAr rorr .

- - SAIL oGf O6AlCANS WILL Be
SOLID FOR BIMETALLISM. -
There is growing belief among many
OF the political gossips at the national
capital that the next few months will
find the Republican party aligned for BIZ
metallism and the Democratic organize
ton 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
demonstrate that the Democrats will d.
vide upon gold and silver monometaIlism
than the presidents recent declaration
or the coming fight lying between sound
money and silver monometallism. and
the subsequent announcement Of some of
the party leaders in favor Of gold mono
metallism. This, in connection with the
efforts now under way in several states
east Of the Mississippi to get free silver
conventions, is proof positive, they say,
OF the great chasm that Is yawning in
the Democratic party.
1t is claimed that the Republicans pro.
pose to avoid precipitating any such
severe issue in their own party, and are
going to begin early to take the firm
ground that bimetallism is a possibility
and not a hopeless case, as represented
by Democrats. Recent utterances of
prominent Republicans, Senator Allison
and ex-President Harrison in particular,
are pointed to as straws indicating the
trend OF opinion in the Republican party.
In this connection references are being
made to the developments before the in.
ternational monetary conference, and
the statement of the prominent imam
ciers of the world at the gathering are
being recalled and invested with peculiar
interest at this time. One statement
which was made at that conference is
distinctly remembered by many politi-
clans. who have seen what they claim
Is fulfllment of q prophecy made.
Mr.. de Rothschild. one of the delegates
Of Great Britain, and recognized as
representing the sentiment of that gov
eminent at the conference, made this
statement: IF this conference were to
freak up without ar wing at any deiin-
lite result there would be a depreciation
In the value of that commodity (silver)
which it would be frightful to contem-
plate, and out of which monetary panic
would ensue. the far-spreading effects Of
which it would be impossible to foretell."
That prophecy was made in November.
1892. The conference did adjourn with
out arriving at any definite result and
the following summer saw the COM
Industrial depression which every one
recalls.
One of the reasons which have fire.
Quently been ascribed as a cause Of the
adjournment of the conference without
arriving at definite result was the
hos til.ty Of Great Britain toward BIZ
metallism. That hostility, amounting to
the most vigorous opposition, was ex-
pressed by Mr.. de Rothschild, who said:
"A gold standard for England was the
only possible one, and If we consider that
the whole of he. commerce. and the great
ri g on rio
on by bills OF exchange on London,
which are naturally payable in gold,
think it must be admitted thai the
world in general transacts it's business
on 3 gold basis. and that in reality such
a thing as double Standard except in
very modified form does not exist even in
those countries who profess to pay in
either Of the metals. England
no doubt. owes a great part of her enor-
nous wealth to the confidence which her
monetary system has inspired, both at
home and abroad; confidence based on
the fact that our banknotes represent
sovereigns, and that bill drawn upon
England from any part of the world will
at maturity be payable in the same
metal. Apart from other consid-
eratlOns, 1t seems to me impossible to
come to universal arrangement in
respect to a general currency question,
as no two countries are Alike as regards
their individual wealth., resources, and
expenditure" Mr.. de>Rotschild express
ed the nope that he had "conclusively
an absolute impossibility."
This view met the concurrence of Sir
Rivers Wilson, another delegate Of Great
Britain. who, speaking for himself and
for Sir Charles Freemantle said: Our
faith is that of the school Of monomet-
allism, pure and simple. We do not
admit that any other than the single
gold standard would be applicable to
our country" It was admitted on all
sides that no agreement in behalf of
could be reached without the concur
renee of Great Britain, and such concur
renee seemed impossible in view Of the
statements of the leading delegates
of that country.
There was strong bimetalrc sentiment
at the conference, however. and even
the British delegation contributed to it.
Sir William Houldsworth, of the Brit
ish delegation, in reference to the gener-
al fall in prices and financial depression,
said: Il admit that in my opinion, there
will never be permanent solution of
this difficulty until we have an interna-
tional bimetallic agreement" Sir Gull
ford Wordsworth, delegate of British
India, IN making an argument in be-
half of bimetallism, quoted the remarks
Of Mr.. Gibbs, the late governor or the
Bank of England, and Mr.. Goshen, late
chancellor of the exchecquer Of Great
Britain, as follows:
MIR. Goshen and I were together on
the conference in Paris; both Of us were
sturdy defenders Of gold recommendation,
but have changed my mind. do not
say that Mr.. Goschen has changed his
mind, but he has somwhat modified it."
Mr.. Goschen was quoted as follows
There is class of monometalists who
say that bimetallism is all nonsense,
and they cannot understand what it
means. Now, do not think it is a very
serious demand for a change, which,
If adopted. would produce very large
results
It is now claimed that these arguments
show that even as far back as 1892, there
was strong bimetallic sentiment in Eng
land, which has been signally increased
and accentuated by the great financial
ment of Mr.. de Rothschild's weil-re.nen,-
hered prophecy that disaster would fol-
low If silver were not protected in
some way. It is claimed that the last
two years have demonstrated an in
crease in the bimetallic sentiment of En-
classes-as in this country. bordering in
a degree upon the extent of the spread OF
bimetalliSm among the people of the
United States. The political gossips ad-
nit that there may have been no change
of feeling on the part of the De Roths-
child element, but that on the contrary
the De Rothchild element has succeeded
in impressing gold standard ideas upon
many Americans.
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
a decided leaning toward bimetallism
and clomoring for trial Of it any how,
and that If an international conference
can be held within the next year or two