The Portland daily press., 1895-07-17

| lively brought about until the term of
the present national administration has
expired, nor until the Congress elected in
1896 shall have got to work in the early
months OF 1898, will be to give solidity,
credit and stability to our whole circula-
ting medium of Treasury notes, bank
notes and coin certificates, supported now
only by pittances of gold, which any
WhlH OF speculation may lay hand on, by
putting under them the large contingent
OF our silver coined and to be coined, now
wholly dlsregarded and disused for any
| such purpose. 1t will start up the shut
aown silver mines, summon to profitable
employment the tramps and idlers infest-
ing our Western cities. The flow of
migration and the building of new states
Will resume; land owners and farmers
| Will profit by the enlarged demand for
farms and farm products. The railroads
earning dividends by an enlarged business
Will one after the other pass under the
control of their stockholders The irriga-
tlon of the arid territories, the extension
OF the steam and electric railway SYSTEM.
inc Water light and power supply OF
rapidly growing cities will amply employ
and Literally reward the strengthened
and enlarged capital now lying paralyzed
IN Eastern banks, while the resumption
of interest payment on defaulting rail
road. water, and land companies and by
municipal securities will place at the
command OF thousands of distressed per-
sons that small income, which was their
living
In our foreign trade relations the prom
lses OF silver RECOMMENDATION are still
more re-assuring. AS people, we can
and do produce in our varied climate
nearly every commodity we need or desire
Iron, coal, gold, silver, copper, forest
products, cereals. cotton, petroleum, cat
ties cloths, agricultural, manufacturing,
steam and electric implements and ma
ch1nery, created in abundance and in
confessed superiority, none of these need
to be sought abroad. For sugar and
sweets we may still depend largely upon
Cuba, with which our commercial and
perhaps political relations are likely to be
more Intimate than they have been; but
as the beet sugar of Germany has largely
supplanted in the world S markets the
cane sugar of the tropics, the time cannot
prairie states can as effectually suppress
foreign Importation of sugar, as Florida
and California have foreign importation
of oranges, lemons, and olives. We shall
still require the teas of Japan and China,
the coffee of Brazil, the hides of Argen-.
tine, spirits wines and works of art OF
France and Italy. But these are coun-
tries either using an exclusive silver cur
rency, or as of France and Italy, that Will
lcOrdially cooperate with us in re-mone-
tizing silver Great Britain was warned
by her most sagacious statesman more
than sixty years ago, that her rash enter
prise of Observation-Disclosures when fully
consummated would operate unfavorably
upon her agriculture, manufactures and
commerce and would degrade her
from her monetary and commercial
supremacy. If the United States should
effectually re-monetize silver, Great
Britain would have the alternative OF
promptly following our example, or see
ing the trade of the best region of South
America and Asia pass into our hands
She would no longer be the mart at
which all the world bought and sold, and
able to levy a tribute upon universal COM
merce. estimating and adjusting all
values sand balances by her monetary
standard; while the opening of direct
trade with the silver nations, with their
enormous demands for our machinery,
implements, and manufactured products,
no longer to be paid for with a premium
on gold, would open new markets for
American industry, and re-create that
merchant marine we have SO carefully
destroyed
But our gold will disappear, and we
shall drop to a silver standard. How
many people are there, frightened by this
bugaboo, who can, tell what they mean
by it? How many of those demagogues,
who use this can't to brighten other people
could tell if they were asked, what sill
, yer standard is and how it would hurt
any body?
A delegate at the last Monetary Confer
ence from Netherlands said silver re-
monetization was so safe and SO practical
BILE, that if any one strong government,
the United States for instance, had the
courage to "wade in, all the other gov
ernments would be compelled to follow.
| In an article contributed to the 10Th
Of ho ~
England, demonstrated that the re.
Mobilization of silver by America alone
would not bring it to an exclusively silver
currency, and would not do any mischief
if it did.
President Andrews says of free-coinage,
, which he himself distrusts:
mot only many thoughtful Americans
believe in it, but as we'll several of the
ablest students of monetary science, such
, as III. H. Gibbs, Moreton Frewen, and
Sir Gilbert Wordsworth 1t is easier to
, laugh at this opinion than to refute it. -
, Count Won Mirbach in the last North
American Review gives this Judgment OF
dis-interested expert:
If England joins an international BIZ
metallic union, the relation 1 ito Is Is
would be soon attained and maintained
, without the least disturbance. But even
!; without England's cooperation the ac-
complishing of an international bi-metall-
Ism is possible perhaps, IN tard1er man
ner. If Germany, France and the United
States acted together these states would
be in a position to solve the seemingly
difficult problem; and powerful enough
too to maintain the fixed relation be-
tween gold and silver. The exclusion. of
England would rebound altogether to the
advantage of the commercial relations,
and industrial exports of these three great
lpowers; indeed. stheir advantages in these
respects would be greater in that case.
than if England belonged to the
| Union
If America should renounce the coinage
of gold altogether and go over to the coin
age of silver we (the German people)
should be confronted with differences in
value, which would threaten us much
more seriously than the present condition
ThenTthere would be no other course than
to close ourselves up Theoretically against
America and afford her the opportunity
to absorb the whole commerce of Asia by
virtue of the parity of her silver currency
to that of Asia.
Silver RECOMMENDATION is like specie-pay-
ment, bugbear and peril before it is
done, but SO easy and salutary in the
doing that everybody will wonder it had
not been done before
In circle Of gentlemen of this city,
prominent in professional and business