Evening star., 1896-08-22
Believers in Silver Who Oppose the
Chicago Plank.
VIEWS OF EUROPEAN EXPERTS
Sentiment Against an Independent
Free Coinage.
EFFECT ON THE SITUATION

Chicago platform has not secured that
unanimous support of the believers in sill
yer which was expected by the ruling
spirits of the convention. The leaders at
Chicago were fully satisfied that their cur
rency declarations would be accepted by
not only those who were outspOken in be-
half of the single silver standard, but also
by that other element which Is devoted to
the cause of bimetallism. But many of the
men who believe in bimetallism-whe.he her
1t be purely American in its boundaries or
broadly international-are asking them
selves whether they will advance most
rapidly the cause with which they have
allied themselves by giving their support
to the Chicago nominees. How much this
doubt means in the middle west only the
mere astute campaigners realize. Through
cut the east there are thousands to whom
the gold standard is satisfactory. In many
parts of the west the single silver standard
has no terrors. In the middle west-where
votes next November will mean very much
is strong sentiment in favor of BIZ
metallism founded upon the commodity
values of gold and silver.
The ready reCkoners who usually are sa
isfied three months ahead Of election as to
how things are going. are now IN the dark.
for they do not know how the bimetallsts
are going to vote. The doubt as to their
course is based upon the partisan platform
announcements.
The Two Platforms.
The republican platform, while it cont aims
unnecessary reiteration of the term "gold,'
Is quite specific in its declaration of friend
snip for bimetallism. 1t says:
we are unalterably opposed to every
measure calculated to debase our currency
or impair the credit OF our country. We are,
therefore, opposed to the free coinage of
silver. except by international agreement
with the leading commercial nations of the
world. which we pledge ourselves to pro-
mote; and until such agreement can be OBJ
tanned the existing gold standard must be
preserved"
There is nothing vague in that declaration
There is straightout promise to do all
things possible to bring about an interna-
tional blmetallic agreement, with proviso
that until such an agreement is reached
tnere snail be no disturbance Of our present
currency system
The democratic platform ia also snacifc
1t says:
we demand the free and unlimited coin
age or both silver and gold at the present
legal ratio of 1G to 1, without waiting for the
aid or consent of any other nation"
international bimetallism is, therefore
discarded. and in its place Is presented in
dependent free coinage at a ratio which
many bimetalliSts insist would be fatal to
bimetallism. Forcibly, if not logically. the
democratic platform assails gold mono
metallisnl and then comes out, in their
opinion, squarely and defiantly for silver
monometallism.
EdOuard Suess' Views
1t is interesting to note the reception
which has been accorded the currency plank
OF the democratic platform by some of the
foreign bimetallists upon whom the free
silver advocates lean quite heavily when
homemade argument exhibits signs of ex-
nauStlOn Free SiiyPriteS have haf tod
themselves to eulogizing Edouard Suess,
Austria's leading bimetallist. THE Future
OF Silver which was written by Prof
Suess, Is a text book in the schools of sill
yer: 1T is popular therein because it con-
tains the prediction that the whole world
VIII eventually be compelled to come down
to silver basis. In a letter written to a
friend in this city Prof Suess says:
THE result of the United States inde-
Pendently coming silver at the ratio Of I6
to l would simply be the loss Of all your
gold and the obligation to buy In England
all the gold necessary to meet your obli-
cations In foreign countries. One state
alone is too weak to take such a STEP
which must lead to financial and per
haps an economical crisis. If you think of
coming silver. demonetizing gold. and go
ing with China. you will cut the world
into halves and infiict a severe damage to
human civilization in general. You must
wait and take some intermediate way. You
may let the government coin a limited
amount or silver, but not as much as in
former years. and before all, it Is impos-
sibie to have notes payable in gold with
out a gold standard"
That is the voice Of a friend to silver
VIII 1T be needed? Will any considerable
number Of the advocates of the indepen-
dent free coinage of silver at the ratio Of
Ii to l recognize ere November the sound
ness or the professors claim that their pro-
gram Will retard instead of advance the
cause Of bimetallsm in behalf of which
nc oh Lob
English BimetalIists.
In one of his London letters of recent
date Julian Ralph speaks Of the yery
strong bimetallist party existing in Eng
land; party which has among it's mem
oero Arthur Balfour and other statesmen.
ana leading bankers such as Lord Alden
nam and Ex-Governor Lidderdale of the
Bank of England. Says Mr. Ralph:
The attitude of these bimetalIists. manv
OF wnom are directly interested in the re-
monetization of silver, is somewhat note
worthy. TO them the victory Of the ad-
vanced silverites of the United States would
De the greatest blow that could possiblv
De dealt. According to Sir Henry How,
arm, arm, with whom | had a long talk q few
the clock, so far as the due recoenitiop If
SILVER as monetary standard is concerned.
py at least quarter of century"
German View.
Dr. Otto Arenit, editor of the Deutcbes
"ochenblatt. member Of the Prussian
House of Deputies and Of the German silver
commission of 1894, and one of Eurone,s
leading bimetallists, says:
IF 1t is now desired to perpetuate tho
gold standard in Europe let the government
al Washington adopt free coinage of silver
at the ratio of 1:16. At present. after the
closure of the Indian mints, this step could
not possibly have any other result than to
make the American standard a silver stand
ard. The price of silver, of course. would
rise, but not to 50 pence, and not perma-
nentiy. The United States would have a
standard not materially different from that
OF Mexico. All the disadvantages and ali
the advantages Of a fuctuating and de-
Preciated money standard would follow.
Cold monometailism would be replaced by
silver monometallism. the double standard
would become nominal. No bimetallfst can
approve Of this Free coinage of silver in
the United States would result in harm to
Europe. no doubt, but also in ADVANTAGE
Perhaps the harm would predominate: hut
one thing is certain the absorption of the
American gold, the continual supplies com
ing from the American gold production
would. for long time to come, relieve the
European powers of all anxiety for their
gold standard. The monetary anarchy