St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1896-09-12
Situation Worry ssrioas.

Situation Very Serious.
NOT INTENDED ZOE UNITED
: STATES READERS.
The London Financial News says:
The financial situation II the United
States IL very serious. The Senate has
blocked Ill relief measures proposed
by President Cleveland, ard Congress
1t dead saandstill ON the money ques-
tion. The free coinage Senators are
masters Of the situation.
This condition Of Affairs in the United
States demands the immediate asten.
tion Of British nuanciers and states
men. The trade Of the world IL now
In our hands, bat it will mol long re-
main there IL the United States goes to
. bimstallic basis, with free and nm
limited collage Of silver.
With the addition Of silver to the
volume Of money, everything In Amer
lea would take On . new face; labor
and industry would gain new life. The
grip Of the gold standard on the pro-
ducts Of the world would be loosened,
and prices would rise. Great Britain
would lose her markets Ia South
America, Asia and Europe, and Ameri-
can bottoms would mot be long in cap
turing the carrying trade Of the world.
British creditors must now apply
themselves quickly to the American
money problem. The sound money
men and banking interests, led by Sen
ator Sherman, Cleveland aud Carlisle,
with . plentiful supply OF means, have
been beaten. The American people are
now thoroughly aroused and educated
on the power and use Of money, and
made desperate by debt and business
depression, they are forcing free silver
as the main issue.
Great Britain need fear no injury to
her trade or investments II the Repub.
lican party can force s'prOtection tar.
IL" q the main issue In the coming
Presidential campaign, but II free sill.
yer dominates the American mind and
wins 1t the polls, It will bring about .
change In England that will b. ruinous
from its suddennsss and severity. The
damage that can be done British manu-.
facturers BY protective tariff Is slight
compared with the disasters that would
DO entailed BY change from = single
gold to complete bimetallic standard.
It Is evident that the Democratic
party will not ren0minate . man who
holds to President Cleveland's ideas On
money, and the only hope 70. . con-
tinuatien Of Mr.. Cleveland's financial
policy will be In the success Of the Re-
publicans in the next election.
The success Of free coinage will bring
down the rate Of interest on money,
and cause an immediate rise In the
price OF all commodities. When silver
becomes primary money, the American
mines will pour their products into the
mipts, and = new era similar to that
produced by the issue OF greenbacks
during the civil war will begin. Gold
will leave the banks and enter into
competition with silver In the avenues
Of trade, and the manufactures Of the
United States, which have been shut
down or crippled since 1882, will again
resume their light for the English mar
kets.
It Is doubtful whether the Republic
can party can be held much longer 10
check by sound money statesmen, as its
adherents are divided by powerful fac.
lions. The Democratic party IL also
brsaking up under the weight Of the
free silver agitation. It matters not to
Great Britain which party succeeds, u
the gold standard 10 maintained, but
either OF the old parties or . new party
which goes into power pledged to free
coinage win be inimical and preiudicial
to English manufactures and trade.
The American people cling with won
derful tenaeity to party organizations,
but financial embarrassment and bust-
ness stagnation has become too severe
for their patience, and they are ready
for anv change that promises relief.
They are becoming convinced that 1t
cannot be found IN the protection
theory, - that has been tried, and
they are massing now on free silver.
When that issue comes fairly before
the American people, England will re-
gret her apathy and adherence to the
single gold standard"