The Portland daily press., 1895-07-15
SILVER IN ENGLAND.
Bimetallism to be Feature in the
Coming Campaign.

coming Campaign.
Its Effect Upon the United States Finan
cial Policy-An Interesting Situation.
washington Starr
In a recent issue of The Star attention
was called to the fact that the sympathy
OF the Conservative leaders in England
with bimetallism would be of but small
service to the cause of silver In the Unit
ed States. The point to be considered was
would Lord Salisbury and Mr.. Balfour
make bimetallism, or permit it to be
made, feature in the campaign for the
election of a new parliament Their per-
sonal sympathy. it was pointed out
would count for nothing In order for
silver to receive any assistance worthy
the name it would be necessary for the
return of the Conservatives to power, to
be coupled with the assurance that the
party as well as the leaders would propose
some change looking to silyer's interest
in the financial policy of the realm.
Yesterdays London cables show that
| the question is to enter distinctly into the
campaign. The announcement is made
that the Bimetallio League of England
has issued an address, and that the can
didates in two hundred and fifty constitu-
| encies are to be interrogated as to their
| financial views. This looks like business,
| and it carries comfort to the silver men
| over here. 1t is not unlikely, indeed,
| that the step has been taken at the in
| stance of the silver leaders on this side of
the water
| The silver men in the United States
concede that England holds the key to
the whole financial situation The world
has been brought to gold basis by her.
| She is the great creditor nation, with cor
| respondents in every civilized center, and
with an influence reaching all the way
from thrones down to country banking
houses. Speaking in the vernacular,
goes. England, as matters now stand, is
| for gold. But bimetallism has its adher-
ents in the realm, and it so turns out
that the leaders of the Conservative party,
now asking control again, and with fiat
tering prospects Of obtaining it, are
among the number. Clearly, therefore,
the time is nowtat hand for the ascertain
ment of how strong bin etallism is in
| England, and, if it is strong enough, to
| apply that policy to England's IS affairs.
And if England should decide for BIZ
metallism that would alsoIsettle the ques-
| tion in the United States. There are but
| few gold men, per Sc, in this country.
Both of the old parties, the one speaking
through the President and the other
through Mr.. Sherman. are for bimetall-
ism. They assert their willingness to go
as far in behalf of silver as is consistent
with the obligations growing out of this
country's tradeswith other nations They
are willing to move along with other
nations and keep abreast of them in
maintaining a medium of exchange of
general acceptability What they oppose
is the idea that this country can move
alone in the premises and the proposition
that it go forward and make the coinage
of silver free without regarding England
or any of the continental powers. If Eng
land, under Lord Salisbury, decides for a
larger use OF silver as redeeming money
the financial question in the United
States will be brought to an immediate
| settlement
But what is the outlook in England? ?
Simply because the Bimetallic League
| there is busy may argue nothing of i'm
| portance in the campaign. The Bimetallic
League in this country issued manifesto
and maintained candidate for the presi-
dency months ago. but today no result of
that action is anywhere observable.
Neither of the old parties has been dis
rupted by it. The silver Republicans failed
at the club meeting at Cleveland, and the
silver Democrats have been getting decid-
edly the worst of the scrapping in their
party ranks. Silver may fare no better
in England. The probability would seem
to be that it will not fare better. Gold,
as redeeming money, is stronger in Eng
land than in the United States. And
| then, for all that the Bimetalic League
may be doing, Lord Salisbury himself is
not asking power on the money question.
The finances had nothing whatever to
do with Lord Rosebery's fall Money, so
far, has not been mentioned by any Con-
servative leader in connection with the
return of his party to responsibility
Other and, to England, more important
issues are at stake, and the key Of the
contest is pitched for them.
But suppose Lord Salisbury or Mr.. Bal
four should take up the mone1 4 question
in the campaign with the Initiation of a
strong desire to change the existing finan-
cial policy of the realm? What would be
| the effect on the large business centers
What would London, Liverpool, Birlning-
ham, Manchester Leeds and other great
towns say? How would they respond?
The old Gladstone policy which Lord
Rosebery inherited, was criticised on the
score of its making against the prestige
Of the empire. The legislation proposed,
for Ireland would, it was charged, weak
en-, if not destroy, the bond of union
| keeping t he empire powerful in the eyes
of other nations. How would the great
capitalists, whose values have been estab-
lished and are being maintained on the
| gold basis, feel toward a leader offering a
change of basis? Would not their in
| fiuence be thrown to the other side2
Would not they charge that the credit of
the realm, as in the other case the politi-
cal prestige, was being attacked and i'm
periled? !
The English situation is almost as in
teresting to the silver men in this country
as is the situation over here. And they
are watching it anxiously.
"Red letter. Day at Wentworth Hall for