The Delta independent., 1895-04-17
CHANCE FOR SILVER.
ATTITUDE OF EUROPEAN MA
TONS.
Sentiment in Favor of Blmetalliam Rap
Idly Developing in England, Germ many
and Other COuntrie

New York, April 15.-"Bimetallism
has become political question in Great
Britain and Germany, just as it has in
the United States" says one of the
most prominent bank presidents Of
New York, man who has made the sill
yer sentiment in Europe the subject Of
long study. "From present indications it
will be the principal issue in the next
English parliament and will be more
prominent in the canvass than any 9TH
err public question. Bimetallism has
found many recent followers even in
metallists have been reinforced by sew
eral prominent bankers, including Sir
William Lidderdale, formerly governor
of the Bank of England, and very
many of the leading merchants have
become Interested in the subject and
attend the meetings of the Bimetallic
league. But the electors who will vote
for members of parliament in sympathy
with bimetalliSm are largely small
farmers and mill operatives. 1t is
quite generally understood that the
sentiment is so strong throughout
Lancashire now that the present gov
ernment comedies large gains in the
House of Commons from this district.
The Bimetallic League of England has
very rapidly increased its membership,
has considerable fund at its disposal
for the disseminate ton of its views
among the voters and is very well man
aged by Sir William Houldsworth and
others of prominence. While the de-
velopment of bmetallic sentiment Is
much greater of late than 1t has been,
the league has been doing steady and
effective work for a number of years."
'In the recent action in the House of
Commons upon monetary conference,
leaders of the party in power We're COM
PEELED to recognize the question as an
issue, and If Harcourt had opposed the
resolution the government would have
been defeated. Fortunately for Rose
berys government, Harcourt with great
diplomatic skill succeeded in arranging
for a general resolution rather that
specific one in avoiding a debate. The
matter was not discussed to any consid-
cradle extent, but strength was devel-
oped which surprised even the friends
of silver In England.
NEARLY the same condition Of affairs
exists In Germany as in England. The
agrarian interests are in favor of the
use Of silver as money. and the smaller
farmers and manufacturers appear to
be joining the .bimetallic ranks. The
various boards of trade, the larger mer
chants and most of the principal bank
ers are gold mOnometallists. But the
silver question in Germany during the
last year has become more largely a
political question than at any time since
silver's demonetization by that country.
1t is currently reported that one reason
why the authorities in Germany hesi-
tate about dissolving the Reichstag Is
that they do not wish to go before the
country with silver as a political issue
at the present time.
ain France the authorities have been
compelled Of late to express themselves
more favorably to silver than at any
time during the last five years, al
though 1t is generally understood that
Of coined silver in use that very little
more than moral support could be eX-
pected from that source.
"It is generally understood by those
best informed that Russia hopes to re-
sumo specie payments in the near fu-
ture. The Russian silver mines are of
comparatively little consequence, and,
rs that country has been accumulating
large sums of gold for many years, it is
doubtful if Russia will be of very ma
terial assistance to bimctallism at pres
ent. 1t is well understood, however
that if Russia resumes specie payments
upon something like the same basis
that Austria did it will require large
amount of silver for Use in a subsid-
iary way. and very little of either metal
is now used in Russia as money. In
case Russia should resume gold pay
ments she would undoubtedly have to
make some arrangements to discount
her paper mOney-that is. give three
rubles for two Of the present currency.
Italy and Spain would undoubtedly
be very glad to see silver remonetiZed
They are both on a silver basis and it
would then be less difficult for them
to undertake the resumption of specie
payments, US gold is SO very difficult to
obtain from the various treasures of
Europe"
Belgium and Holland would un-
doubtedly be sympathetic toward bi-
metallism and follow the lead of the
other principal powers.
1.-THE principal difficulty In interna-
tional bimetallism," continued the
banker, is tne DelleI among Sclentlnc
men that for some years to come the
production of silver will increase 30
largely that it will be difficult to fix a
proper ratio between the metals. The
opening Of railway lines into mining
districts throughout the world, hereto
fore inaccessible. and the Introduction
Of modern machinery and methods,
lead them to this belief. However, re-
cent discoveries Of gold indicate that no
one can predict what the future produc-
ton Of the metals will be- and aggra-
Yates the difficulty of fixing a ratio of
value between them. The fact also that
the coins already struck are at 15h to 1
or 16 to l when the commercial ratio
is 30 to 1 Is Of course great obstacle
In making treaty or agreement among
the principal nations"