Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-03
ENGLAND WANTS Bl-METALtisM
But Is willing That Some Other Countr,
Should Take the First Step.

Worcester, Mass, Oct. 2.-Senator
George F. Hoar arrived, last evening.
Interviewed by a reporter, he said: Il
have had an opportunity of seeing q
good many prominent English hi
metallists anu of cOnverSing with a
considerable number of persons who
are very important and influential
leaders in the party now in power in
England There is undoubtedly a very
strong oppion in England, eager for
the restoration of silver to its place By
the side of gold as standard of value
legal tender, and servant of national
and international trade and commerce.
Il suppose, indeed. l think l 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 the other commercial
nations to do the same. They think
that might result in a drainage of their
gold to the east. But they would a;
least favor the re-opening of the In
dian minis, requiring the bank of Eng
land to keep large portion of its re-
serve in silver, and perhaps the discon
tlnuance of the use of notes under de-
nomination of 910. with the result that
their place in circulation would be very
considerably supplied by silver
1T is well known that a large ma
jority of the French Assembly passed
resolution within a few months, ex-
pressing the desire of France to CO.
operate in such a step, and there is a
IQruea ma r.fy in,
way of thinking. Monsieur Meline, the
present prime minister declared in his
speech, that whenever the other ma
tions were willing to take that step.
they would not have to wait for
France.
But there is in England considerable
u1fticulty in the matter. Leaders of tho
opposition, Sir William Vernon Har-
court especially, and Mr. Gladstone,
VINO although out of office, is still a
great political force, take the brutal
view that so long as other countries,
owe England an Indebtedness, esti-
mater by some as high $40. 900 900 O0o
tnat everything that increases the
value OF coin in which the debt is to be
paid is clear gain to her
The administration is timid. and al
though a majority of the administra-
ton are bi-metallists, they would en-
counter some opposition among them
selves, and they do not like to en-
counter the banking and investine
classes in London. So it does not
seem to me that the English bi-metal-
lists mean business. They seem to be
rather willing that the United States
should take the risk of pulling this
chestnut out of the fire rather thar
nave England do it herself. They are
not ready to say to the administration
III you do not do what we want in thi,
matter we will not support your ad.
ministration.'
AT the same time, in spite of thi,
obstacle. | believe that Mr.. Mckinley
can II his administration be wise. effec
an International agreement which will
remove this vexation question from on
poiltlces do not think that an,
large number of sincere bi-metallists
either in this country or England vii
Tolerate for moment the plan of hay
ing the United States establish the FREE
coinage of silver at the rate of 1e to
or any other ratio, without the co
operation of other nations