The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-08

value to the rupee since they stopped its
coinage. The government pays US in rli-
PEGS and when our families reside in En-
gland we find that the purchasing power
of the rupee is only one-half of what IL
was; and therefore 1t is the same as cut
ting down our salaries one-half.
Parliament For BimetalIism.
Said a very intelligent man to me: IF
It were not for Gladstone the British par
by a large majority Said another: we
have raised f1000C0 for the dissemination
Of bimetallic literature, and the leading
financierS have come to the conclusion
that something must be done to re-estab-
lish trade and to hold up values, ana
they see no other way but in information
you, is the idea which the bimetallists OF
England have They expect to be able
at the international congress to secure in
ternational bimetallism, but do not be-
lieve that England will adopt ii. The in
huence of the money lenders and the
dealers in money IS too great. From per-
sOnal observation and from conversation
with great many Well-informed men,
know that trade in England and the man.
ufacturing industries are in a very unsat-
isfactory condition.
Il made no personal observation in Ger
many, but am creditably informed that
bimetallism is gaining ground very fast
and its friends believe in its final tri-
unph.
"France is by all odds the most pros
porous country in Europe. Everybody
seems to be doing something. In their
manufacturing centers hardly any idle
people are seen. Every stack is smoking,
and farms. gardens, shops, stores and
warehouses all seem to be expressive Of
an active, busy and thrifty people. 1 was
especially interested in this matter, hay
ing made observations in Portugal, in
Spain, and to a large extent in Italy and
England, and of course 1 looked about for
the causes. I will give all due credit to
lP0nnTnipa1 ha n
the French people, but these same people
in other centuries, and even in certain
parts Of this century. have not been pros
porous. But today they are pre-eminent-
" ahead of all other nations, and they
have money on which to do their bust
ness. They have $44 per head, about
both metals are used substantially with
out discrimination. No other nation on
earth has as much money in circulation
per capita, and one can not deny the trite
saying that money counts. It does count;
it is the life blood of business.
THE French have maintained their
prices and they have kept their manufac-
tories going during all these seemingly
hard times over the rest Of the world, and
the reason why they have been able to do
ii is because they refused to destroy one
namely, the coined silver of the realm. If
you go to a bank in France and want a
large amount of money, The bank will
dictate as to whether they pay you in sill
yer or gold or half and half of each. The
government receives and pays out both
metals alike and the people do the same.
What lesson is in this practice for our
own people. Now France is foremost in
effort for the establishment Of the free
coinage OF silver side by side with gold.
There are no shrewder fnanciers than the
French. It would be far wiser for US TO
join the French than to try to adopt the
English system of finance. The one aims
at an increase OF money of final redemp-
tion and the other leads to a decrease
with its consequence OF falling prices and
decreasing business.
We need a new declaration Of indie
pendence. The war IS inevitable. I re-
peat it, sir, let it come"