The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-07-03
NEW FOUND FRIEND"

From the Minneapolis Penny Press
Under the above caption the st. Paul
Globe announces the accession of the Con-
servative,or Tory party of England topow-
er. The import of the caption-"New
Found Friend"-simply means that Lord
Salisbury and his co-agitators are more
friendly to bi-metallism and the equal use
of silver as primary money, than the adj
ministration of Lord Rosebery has been.
The suggestion is good one. 1t has al
ready been announced that the Right
Hon. A. j. Balfour will be First Lord Of
the Treasury, which simply means that he
will occupy the same relation to the finan-
cial policy of Great Britain, that the Sec
rotary of the Treasury occupies in the
United States.
1t is now we'll known fact that Mr..
Balfour is most heartily in favor Of the
restoration of silver to its proper place
as primary money, and has earnestly in
dorsed the bi-metallic doctrine.
incidentally there are some queer
things happening just now, entirely con-
trary to the expectations of the "gold adj
vocates." They have hitherto relied upon
England as absolutely certain to oppose
anything unfavorable to gold standard.
Experience, however, is proving to be a
good teacher even with Great Britain. In
her eagerness to make money out of India,
by maintaining silver standard
there and gold standard at home.
England is teaching India the art Of home
production, which if carried to a successful
issue, means a direct and positive loss to
the home country. The Englishmen will
not stand for moment, and hence the or
der for suspending the free coinage of sill
yer in India a few months ago.
Those who have read the Mexican min
ister's letter to the North American Re-
view, from which we copied literally yes
terday, will remember that that gentle
man gives the information to the world,
which must be indeed unpleasant read
ing to the advocates of the gold standard,
that the silver standard in Mexico has
manufactures and home industries" and
that it has operated to that extent that it
has taken the place in Mexico of high
protective tariff in the United States.
When all these facts are considered and
coupled with the attitude of Germany in
behalf of bi-metallism, the advocates of
free coinage may well congratulate them
selves upon the rapid advance Of their
doctrines in favor of bi-metall;sm.
The quotation published in the Penny
Press Of June goth, under the head of
Some Startling Figures" are beginning
to bear fruit very rapidly. The moment
any business man comprehends the fact
that one third of the entire amount of gold
money of the world Is today locked up in
the vaults of nine foreign governments,
thus reducing the actual money circula-
ton of the world to about twenty-five
hundred million of dollars, as against
quite six thousand millions two years ago,
the purposes and objects of the Rthschilds
and the gold brokers Of the world, begin to
be apparent.
II every voter Of the United States could
be made, to comprehend the real situation
concerning this gold standard business, it
would not take six months to place the
United States on bi-metallic basis
If within q period of five years the
manipulation Of the gold product, are