Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1896-03-21
BIMETALIsM ONCE MORE.
England is Doing Very Well
With Het Gold,
But she i Troubled with Depression,
Due 20 Lew Prices. and Low Pr ce-
Owing 70 the Appreciation Of cola
Hut thRt IL All over. New.


bimetalic motion, with the qualification
that the government does not intend ia
depart in the slightest from the gold
standard
The resolution Of MIR Whitley recites
that it is the opinion Of the house that
the instability in the relative value OF
gold and silver, since The action OF the
Latin union in 1873 had proved injurious
to the best interests of the country, and
It urges upon the government The ad
visibility Of doing their utmost to Sc.
cure an international agreement.
The chancellor of the exthequer, Sir
Michael Hicks Beach, said that although
bimetalism was involved in the motion,
its adoption BY the house did not neces-
sarily involve the adoption of the bime-
tallic system by the United Kingdom.
lie then proceeded to dwell upon the
diversity of opinion regarding bimetal-
ism, and he thought 1t Was impossibleto
fix ratio absolutely independent az the
market luctuation of such articles On
the other hand, he continued, 1t was not
denied thatif an international agreement
was entered into BY a sufficient number
Of nations, It would influence the fiuctu-
atoms. Besides, Sir Michael added, the
adoption of an internai EQUAL agreement
by sufficient number Of nations might
possibly bring the value, of the metals
closer than at present.
In regard to the ratio, Sir Michael said
he had been told the United States would
probably desire IsH Or 70 to /, but in
view Of the present price of silver ii
seemed 70 him that such ratio was alb.
solutely dishoness 70 creditors and would
simply mean a financial panic with pos
sihle disastrous effects % the credit of
the country. If the ratio vas based on
the market values of themetals, lie coutd
not see how chat would warrant the en-
travagant hopes Of the bimetalllsts, for
the agreement would be liable to be
broken in the event of political conyul-
Jon or war, and the effect Of such doubt
II it, permanence might initiate against
success Nothing more important 10
Great Britain could BE conceived than
the extreme danger Of altering The cur
rency, for Great Britain under lie gold
standard instead Of tciue ruined was
singularl5 prosperous. Wealth was more
generally diffuscd among Tie working
classes, and higher wages we're being
paid than ever before No country III
fhe history Of HE world die speaker as.
serted, was ever in letter position 10
Dear al euorn 5us load # taAatiJn with
less discomfort; Therefore, he saw
nothing 10 Justify altering Great Brit.
aims currency system
The chancellor af the eAeheqaef d
mitted, however, that hers vas depres.
sion il hushandfy and the cotton indus
try but he claimed the cause was to be
found Ii low prices, which were due al
one time 10 the appreciation Of gold
Bun the production If gold had largely
increased and nov higher than eAti
stood the remarkable facl that The SIMS
ye5s which had shown an enormous AM
unexan3piea stock Of gold in the bank
had showed the lowest prizes on record
Might there not be 4 reaz on for the fat
in prices without ANYTHING to do viii
the appreciation Of god? The fact va.
that The fall in the price OF nearly every
article Wa due 70 foreign competition
whiehMas due 10 an increase n prodae
ton and more effective use u capital
owing 10 a ,,idef system of credit, ane
tn use Of The telegraph, and, lastly, (
The vast extension Of the railways Of lh'
world and the Improvements III tie mef
camille marine Sir Michael liieks
Beach aleo said that While admitting Ia
evils To ihala consequent upon 6lle tai
u 9hs i9fiee = li1s ~ 1se, ~ fe1s that III
o'nef s9la aslos Paf1# o. ny shlfaf'
must DC eoasiaefsa
The soNefha'se was Ml5l1As any aaNlea
= ee5ff ~ o. - '.'s.a,.s' 80 -
or upon ess'5s9s.'o's, oes ! W. ae
prepared = ap',51a9' - go ss''s,sssI
1of '1e e'1''s :. : - -. ,79'''s = =
soiieas ass' ~ ~ n@'i3,''t - ~ =.
iofa q - = ee5Ai' !, - - s. IS W.
taese slsNst 9e5 ills9 Mele 81 agree
thai the' were not lestliled Y nfeFosin