Birmingham state herald., 1896-04-05

alone? This particular millstone, how ever, fell from my neck the first. It re- quires little consideration to see that it is not only essentially immoral, but also self-destructive. If gold appreciates, your gold standard stands condemned by failure in the most essential attribute that of stability-while you are convict ed of mulcting your debtor not only of the interest which he agreed to pay, but also of the unearned increment. the in- crease in purchasing power, which your currency has acquired by lapse of time. The English investor, as the report sug- gests has learned by sad experience the unwisdom of forcing on our foreign bor- lowers terms too onerous for them to bear, and is, think beginning to realize the truth of a remark made at this meet ing a year or two ago: Tt is better to have a silver debtor who pays you than gold debtor who does not. (Applause.)
 Further, an insular view is necessari ly but partial view, and the statesman is bound to look beyond the immediate confines of our own country to the wider interests of the whole British empire. England has a duty to India which she may ignore, and when on visit there a few years ago l saw for myself the dis location of trade, caused not so much by the actual fall of the rupee as by the daily uncertainty of what its value would be on the morrow. When I saw the des-
 
 ment, under the evergrowing burden of its sterling debt, was driven to make two ends meet, eliminating in that unfor- tunate measure which, by putting an artificial premium on the coined rupee, has effectually handicapped India in her competition with China and the east (hear hear) I became convinced that the establishment of a staple par of eX- change between gold and silver countries is a matter not merely of academic inter- but sRfr eaVNd fanft tnnl and resolved to do what I could to as- sist that issue. I must apologize to this meeting for having detained them with what must seem to most but the A B c of this great question. But elementary education is not the least important There are, believe, others here who still feel the difficulties that I have felt, who still stand irresolute upon the brink. The recital of my experience may encourage them to take the plunge. You will not, hope think the time wholly wasted We could wish that the press as whole took a saner view of the question. (Ap- plause) It is significant to see that our opponents arguments grow looser and their language stronger as they feel the ground slipping from under their feet. The appeal, however, Is now to be taken to a greater court, and the fund now be- ing raised for the purpose of propaganda will enable the bimetallist case to be laid fairly and fully before the people of England. Once that is done, l have no doubt as to the issue. Great Is truth, and she will prevail. It is with the firm conviction that the principles of bimetal- lism are principles which make not only the prosperity of ths kingdom and em- pire, but the welfare of the whole civil iZed world, that l second the resolution. (Applause)
 MT. Ldderdale in regard to his great feat of finance, the raising of fir 100000 and saving the Earrings from a grand crash, which he did so successfully, thus warding off the blow of a general Euro pean-American panic, was honored in threefold way" said MT Irvine. He was given the title of right honorable by the queen; he was given the freedom of the city of London at grand banquet by the lord mayor, a splendid gold casket containing the scroll of free citizen of England, and also elected for another term as governor of the Bank of Eng land, an unusual honor.
 MT Lidderdale was born in St. Peters burg, son of a British merchant. He is distinguished looking gentleman of mag nificent presence, an intelligent cast of features, tall, erect and handsome man, about 60 years old and with most de- lightful, courteous and hospitable man. ner. The manner in which he treated me was so delightfully."- courteous, in showing me the bank and procuring for me pass to the house of commons and other cour- teses that it created a warm spot for Englishmen in my heart.
 MT. Lidderdale was in business in New York city from 1857 to 1863 as agent for a British financial house and formed a warm regard for America and it's insti- tutions and spoke very highly of it's pres ent and future prospects.
 "He observed that the Bimetallic league was really making more rapid strides in England than even in America, and he said he certainly believed the day not far distant when he believed sil- yer would be restored"