The Irish standard., 1896-10-24
WHAT The ENGLISH SAY. ].

UnAl LIE GHulton OIL.
Bryan's Election Will Bring Inter-
national Conference. M J.
This is from the English press:
The first selection is from the Man
chester Guardian Of September 26, 1886,
and is as follows:
'.Since the opening of the campaign be-
tween Mr.. Bryan and Mr.. Mckinley for
the presidency Of the United States, we
have taken the view that the victory OF
the former and the Chicago platform
would be more likely to result in the
speedy assembling of an international COM
ference for the settlement of the silver
question than the triumph or MT: NC NC
Kinley and the st. Louis 'pla tform: - we
have formed this opinion nptWlthstand-
ing the fact that while the Chicago pa T.
form pronounces in favor of national bl-
n1etallisn in the United States, without
regard to the opinions and convenience or
other countries, the St. Louis platform
expresses desire to cooperate with other
nations in measures for the monetary re-
habilitation of silver. We now nave the
important declaration by Prince Bismarck
that he also holds that opinion. In his ex-
erelnely interesting letter to Mr.. Culber-
son, the governor Of Texas, the most re-
douhtable of German chancellors, VINO
was, moreover, in office at the time When
Germany adopted the single gold stand
ard, declares that he has always had
prediction for the double standard; and
he adds not only that he still thinks it
advisable to seek to bring about an un-
derstanding between the states, Whlch are
principally interested in the worlds com
1nerce, in the direction of a double stand
ard;' but that should the United States,
utilizing their greater freedom of move-
ment' in economic matters, take an in
| dependent step in the direction of q
| double standard such step would have
! a favorable influence on the establish
nent Of an international agreement, ana
the adhesion of the European states.
prince Bismarck 8 statement that When
in tffice he did not regard himself as in
| falli9le as against experts, is only re-
4 petiton of an explanatio which he made
about the time Of the suspension OF the
Germsn sales Of silver, when he compar-
ed the gold standard to a marrow blan-
ket.' The experts referred to, are, of
course. pot the professors of political
economy in the German universities, but
CamphaLsen, Delbrueck, Banberger and
| the other sta tesmen who were Immediate
ly responible for the German demonetiZa-
| tion OF silver. On the occasion referred
| to, Prince Bismarck stated that at the
| time of ths German monetary reform he
was too much occupied with other import
ant matters to give attention to the Dues
| ton. and therefore left it to the experts ;
l. that he had since discovered that he had
been misled by the experts; and that he
intended herceforth, with more leisure, to
think for hirlself.
TORY OF MIR. BRYAN WOULD BE
LIKELY TO INDUCE AN INTERNA-
TIONALt CONFERENCE ARE NOT
VERY 4BTRUSE. THEY REALLY
LIE ON gHE SURFACE; BUT THE PO-
SITION HAS BEEN OBSCURED BY
THE ILL-INFORMED DENUNCIA-
TIONS OF MR.. BRYAN AND HIS SUP
PORTERS AS ANARCHISTS 'REVO-
LUTIONISTS,' SOCIALISTS AND
! sREPUDIATIONIsTs, WHICH HAVE
BEEN SO COMMON SINCE LOMBARD
STREET WAS STARTLED BY THE
ADOPTION OF SILVER A FREE
CRATIC CONVENTION. PRINCE BIS
MARCK, WHOSE LETTER is PRAC-
TICALLY AN EXPRESSION OF A
WISH FOR THE SUCCESS OF MR..
BRYAN, CAN SCARCELY BE RE-
GARDED, EVEN BY THE TIMES
FAVOR OF EITHER ANARCHISTS,
REPUDIATIONIsTs OR REVOLU-
tTIONARIES.
In order to understand his view Of the
situation we must consider the probable
consequences of the success of Mr.. Mchin-
ley on the one hand of Mr.. Bryan on the
other as bearing on the interests of Eu-
rope.
''should Mr. Mckinley be successful his
government would be pledged to main
tain the parity OF the silver dollars, the
silver notes, and the gresn5acks with gold,
at whatever cost to the American ex-
chequer The attempt has already cost the
United States in time Of peace an ad-
ditional debt of f5O.000,000 within two
years. European investors, financiers and
bankers would probably take the view
that so long as America continued to
make such sacrifices in order to pay in
gold they would have no reason for in
terfering; and the fnanciers and Stock
Exchanges on this side of the Atlantic
would probably rejoice rather than other
wise at another-to then1-profitable is
sue of bonds backed by the credit Of the
American government to take the place
in the European markets of the hopeless
American railway securities OF which Eu-
ropean investors are getting tired. AS for
the European merchants, they would, of
course, view with regret the probable inn
position of another prohibitory Mckinley
tariff on imports into the United States i'll
order to protect the American gold re-
serves: but they would probably console
themselves with the reflection that SO long
as America remained under the god
standard she would have no advantage
as an exporter to the worlds markets.
Her farmers and planters might be hit by
further decline Of the Argentine and
Eastern exchanges as well as the farm
ers of Europe, but that would have no
persuasive influence on the. bankers. fin
anciers and merchants of Europe. !.
Moreover. Notwithstanding the inter-
nattanal bimetal1ism plank in the st.
Louis platform, it seems unlikely that a
Mckinley government would make any
attempt to secure an International bimet-
allie agreement. HIS FIRST EFFORT
WOULD BT, TO SECURE a HIGHLY
THAT WOULD SCARCELY BE A
PROMISING PRELUDE TO AN IN
TERNATIONAL AGREEMENT ON A
COMMERCIAL AND FINANCIAL
QUESTION. MOREOVER, THE SO
CALLED SOUND MONEY OR RE
PUBLICAN PARTY HAS ALREADY
BEGUN TO FIND THAT IT'S DECLA-
RATION IN FAVOR OF MAINTA G
THE GOLD STANDARD UNTIL AN
AGREEMENT IS
ARRIVED AT HAS PLACED IT IN A
VERY ILLOGICAL POSITION, AND
HAS PUT A POWERFUL ARGUMENT
INTO THE MOUTHS OF ITS OPPON-
ENTS. IT,, Mr.. Bryan and his support
ers say to the American electors the gold
standar5 is a good thing for the United
States, why sSHuld the Republican en-
deavcr to induce other nations to help us
to abolish it; and if it is bad thing, as
the Republicans by their binetail.st plank
practically confess that it is, why should
we wait for the permission of other ma
tons to abolish it?'4. This argument is