West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-09-17
THE GRIp OF GOLD.
New That Mckinley and Hobart Have
Been Nominated ON Gold Bug Plat.
form, the Following Dispatch BE.
comes VERY Interesting.


don Financial NetcS says The H..
nancial situation in the United
States is very sorions. The Senate
has blocked all relief measures pro.
posed by President Cleveland, and
Congress is at dead standstlll on
the money question. The free
coinage Senators are masters of the
situation.
The condition Of affairs in the
United States Congress demands
the immediate attention OF British
tinanclers and statesmen. The trade
of tho world is now IN our hands.
but it will not long remain there il
the United States goes to bme-
tallic basis, with free and unlimited
coinage of silver.
With the addition of silver to the
volume Of money, everything in
America would take on new face;
labor and industry would gain new
life. The grip of the gold standard
on the products of the world would
be loosened, and prices would rise.
Great Britain wonld lose her mar.
kets in South America, Asia aud
Europe, and American ships would
not be long in capturing the carry
ing trade Of the world.
British creditors must now ap-
ply themselves quickly to the Amer.
lean money problem. The sound
money men and banking interests,
led by Senator Sherman, Cleveland
and Carlisle, with a plentiful sup
ply OF means, have been beaten.
The American people are now thor
oughly aroused and educated on
the power and use Of money, and,
made desperate by debt and busi-
ness depression, the main issue.
Great Britain need fear no injury
to her trade or investments il the
Republican party can force "pro
lection" as the main issue in the
coming Presidential campaign; but
IL free silver dominates the Ameri-
can mind, and carries at the polls,
it will about change in England
that will be ruinons from its sud
denness and severity. The damage
that can be done British manufac.
turers by protective tariff is slight
compared with the disasters that
would be entailed by change from
a single gold to a complete bimet9l
lie standard.
1t is evident that the Democratic
party will not renominate a man
who holds to President Cleveland's
ideas on money, and the only hope
for a continuation of Mr. Oleve-
lands 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 mints, and a 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 Uni.
ted States, which have been shut
down or crippled SINCE 1892, will
again resume their fight for the
English markets.
IL is doubtful whether the Re.
publican party can be held much
longer in check bY sound money
statesmen, as It's adherents are di-
vided by powerful factions. The
Democratic party - also breaking
up under The weight OF the free sil.
YER agitation. IL matters not to
Great Britain which party succeeds
il the gold standard is maintained,
but either Of the old parties, or
new party which goes into power
pledged to free coinage, will be
inimical and prejudicial TO English
manufactures and trade.
The American people cling with
wonderful teuacity TO party organi.
zations, but financial ombarrass-
ment and business stagnation have
become too severe for their pa
tionce, and they are ready for any
change that promises relief. They
are becoming convinced that 10
cannot he found iD tho urOffctiou