The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-09
SENATOR HoAR ON SILVER IN ENG
LAND.

Senator George F. Hoar has recently
returned from Europe and brings really
very encouraging reports of the spread
of the free silver sentiment in Eng
land. The New York Times terms the
senator's interview "a travellers tale. -
1t is a very good one, and one that
seems to have the impress of truth
upon it. The senator's tale was, III
part, this:
l have had an opportunity of seeing
a good many of the prominent English
bimetallists and of conversing with a
considerable number of persons who
are very important and influential
leaders in the party now in power III
England
There is, undoubtedly, a very strong
opinion in England which is eager for
the restoration of silver to it's place by
the side of gold as a standard of value,
legal tender and a servant of nation
al and international trade and COM
merce as currency. / suppose indeed, |
think I know, that this is the opinion
OF a majority of the present cabinet
Perhaps they would not think it wise
that England should open her own
minis to the free coinage of silver,
even if there were an agreement of all
other commercial nations to do the
same. They think that might result in
the drainage of their gold to the east.
But they would, at least, favor the re-
opening of the Indian mints, but re-
curing the Bank of England to keep a
large portion Of its reserve in silver
and perhaps the discontinuance of the
use of notes under the denomination of
SO, with the result that their place in
- no 1, Il
supplied by silver
1t is well known that large major
ity of the French assembly have passed
a resolution, within few months, ex-
pressing the desire of France to CO.
operate in such q step, and there is a
large party in Germany of the same
way of thinking.
But in England. leaders of the oppo-
sition, Sir Vernon Harcourt especially.
and Mr.. Gladstone, who, although out
of office, is still great political force,
take the brutal view that. so long as
other countries owe England an in
debtedness, estimated by some persons
as high as $4,000, 000.00 that every
thing that increased the value of the
coin in which the debt is to be paid is a
clear gain to her.
There is nothing very improbable
about all that, certainly not enough to
warrant the Times in being so terribly
cocksure in its comments. 1t says that
the Bank of England will never be
asked to hold and would not consent
to hold any important part of it's me-
tallic reserve in silver How can any
one, save those who have the splendid
gift of seeing into the future, say what
the Bank of ENGLAND will or will not
be asked to do, what it will or will moi
consent to do?
One part of the senator's interview
is really amusing. He says:
Il do not think any large number of
sincere bimetallists, either in this coun-
try or England, tolerate for moment
the plan of having the United States
establish the free coinage of silver at
the ratio of 16 to 1, or at any other
ratio, without the cooperation of other
nations"
That is the very thing that the sin
cere bimetallists in this country are
for. That sincere bimetaI-
lists" in England or any other country
will not tolerate the idea of indepen-
dent free coinage in the United States
is a matter of supreme indifference TO
the bimetallists of this country. We
may ask: What are they going to do
about it?