Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-05-03

- which from prehistoric times ha
n been used as money by the human
,f race, is demonetized, and in proper
/ ton as the remaining money metal il
= which they demand payment of thei
d debtors is made scarce and dear, il
J. that proportion they reap harvest a
: the expense of the nations owing then
5 money, but particularly at the cost o
r the rich Republic OF the United
: States whose wealth is still so grca
e that they can draw upon its resource:
y to degree that they cannot do upon
t the resources of the many countries
1 whom they have in recent years, in a
r tvery unjust manner, greatly impov-
erished by their legislation respecting
money. 1t is also proposed to here
point out how easily the government
of the United States can adopt pol
icy by which the power OF Great
Britain to control in her own sup
posed interest the so-called value OF
the white precious metal will be brok-
en-, while the wealth OF our country
will at the same time be so vastly in
creased that its ability to re-establish
in the interest OF the human race q
par OF exchange between silver and
gold will be such that all nations will
be compelled to bow to its power.
1t is well to here note that while
the United States Government was
buying 100000 ounces OF silver a
year under what was called the Sher-
man law, the Government of Great
Britain was yearly practically selling
a far vaster amount of silver than our
government was buying. England
may be said to have revenue with
which to war against the re-establish.
ment of par-of-exchange between
silver and gold such as existed from
time inlmemorial-a, so to speak,
silver revenue which dwaris the output
of the silver mines of the United
States.
ENGLAND's FINANCIAL POLICY TOWARDS
INDIA
English rule in India has created
for the Hindoos debt which in the
year 1891 amounted to at least sum
equivalent to $l,O33,O97,775. The in
terest on that debt helps TO swell what
is known as the tribute which India
has yearly to pay to Great Britain.
The so-called Indian Council which
governs India, is composed entirely of
Englishmen. Not one Hindoo has
voice in the government OF his native
land. The expenditures of the Indian
Council, or Indian government as it is
sometimes called, amount annually to
a sum equivalent to between four and
five hundred millions Of dollars. The
army OF Great Britain in India, not
including some three or four hundred
thousand soldiers maintained by feuda-
tory princes subject to Great Britain,
amouhts to some l52 600 native, and
to some 72,OOO European, soldiers.
After paying for the maintenance of
the army, and for Notifications, and
for the running expenses of the Indian
government. the people of India have
to pay what is often called a yearly
tribute to Great Britain. This tribute
is made up of various items such as
the interest on the so-called national
debt and the pensioning Of retired Eu-
ropean soldiers. This tribute amounts
in United States money to some sew
enty-five or eighty millions of dollars.
AS England many years ago practically
demonetized gold in India, the legal
tender money of India is silver-al-
though, to further temporary new
English policy gold money may, to a
limited extent, again be monetized in
India. Although the Queen of India
is the Empress of India, and although
the coins Of India have stamped upon
them the likeness of the Queen OF
England dressed in Indian costume,
yet the Bank OF England is permitted
by the laws of Great Britain to refuse
to accept Indian rupees when they are
offered in payment of her tribute to
Englishmen. The Hindoos have only
silver with which to pay their taxes to
the so called Indian government. As
England demands gold in payment of
the Indian tribute, India must, if it
pays in specie, practically pay more
than twice seventy-five or eighty mill
lions OF dollars. The driving up of the
relative value of gold to silver in Lon
don becomes, for q certain class of
Englishmen, enormously profitable,
inasmuch as the purchasing power Of
silver money has not lessened in India,
unless, perhaps, to some trifling
amount in some seaport town. Until
lately, when England, to subserve a
temporary purpose, has enacted that
only government silver shall! be coined
by the Indian mints, an Anglo-Indian
could buy silver in New York at its So
called price and transport it TO Indian
mints and have it coined into rupees,
each one of which would buy just as
much of any kind of commodity that
it would buy before silver was prac-
tically demonetized in the United
States. The value of silver has not
fallen in India or in silver-using coun-
tries.
The Hindoos, in order to get gold
with which to pay their tribute to
Great Britain, have been sending mer.
chandise to London. Not only have
they thus paid their tribute, but they
have sold 81 much merchandise to
gold-using nations that Great Britain
has been obliged to yearly send them
a very large amount of silver to settle
with them her balance of trade ac-
count. Even the people OF the United
States bought of India in the year
1892 S2l, ,O9S 800 more than they sold
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