Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1896-10-16
The Grip Of Gold.

ton, and should be carefully reat
by every voter, no matter what hi
politics. The London Financia
News says;
The financial situation in the
United States is very serious. Tn,
Senate has blocked all relief meas
ures proposed by President Cleye
land, and Congress is at q deaC
standstill on the money question
The free coinage Senators are mas
ters Of the situation.
The condition of affairs in thu
United States Congress demands
the immediate attention Of British
financiers and statesmen. The trade
Of the world is now in our hands,
but it will not long remain there
if the United States goes to a bi-
metallic basis, with free and un-
limited coinage Of silver.
With the addition of silver to the
volume IF money, everything in
America would take on new face;
labor and industry would gain new
life. The gfip Of the gold standard
on the products of the world would
be loosened, and prices would rise.
Great Britain would lose her mar
kets in South America, Asia and
Europe, and American ships would
not be long in capturing the carry
ing trade Ct the world.
British creditors must now apply
themselves quickly to the Ameri-
can money problem. The sonnd-
money men and banking interests.
led by Senator Sherman, Cleveland
and Carlisle, with d plentiful sup
ply of means, have been beaten.
The American people are now thor
onShly aroused and educated on
the power and use of money, and,
made desperate by debt and bust
ness depression, they are forcing
free silver as the main issue.
Great Britain need fear no inju-
ny to her trade or investments if
the republican party can force
"protection tariff" as the main issue
in the coming presidential cam
paign; but if free silver dominates
the American mind, and carries at
the polls, it will bring about a
change in England that will be ru-
nous from it's suddenness and Sc
verify. The damage that can be
done British manufacturers by a
protective tariff is slight compared
with the disasters that would be
entailed by change from a single
gold to a complete bimetallic stand
ard. 1t is evident that the Demo
cratic party will not renominate
man who holds to President Cleve-
lands ideas on money, and the only
hope for a continuation Of Mr.,
Cleveland's financial policy will be
in the success Of the republicans 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 minis.
and new era similar to that pro-
duced by the issue Of greenbacks
during the civil war will begin.
Gold will leaye the banks and en-
ter into competition with silver in
the avenues of trade, and the man.
ufactories of the United States,
which haye been shut down or Grip
pied since 1892, will again resume
their fight for the English markets.
1t is doubtful whether the repub-
lican party car be held much long
er in check by sound money states
men, as its adherentS are divided by
powerful factions. The democrat
ic party is also breaking up under
the weight of the free silver agita-
ton. 1t matters not to Great Brit
ain which party succeeds if the gold
standard is maintained, but either
of the old parties, or a new party
which goes INTO power pledged to
free coinage, will be inimical and
ptejudicial to English manufacto-
ries and trade.
The American people cling with
tenacity to party organ
izations, but financial embarass-
ment and business stagnation have
become too severe for their patience
and they are ready for any change
that promises relief. They are be-
convinced that it cannot be
found in the protection theory, MS
that has been tried, and they are
A. assing now on free silver. When
that issue comes fairly before the
American people England will re-
greet her apathy and adherence to |
he single gold standard.
Dor;cfart DaUicfart