The Caucasian. (Clinton, N.C.) 188?-1913, 1896-10-22
The Financial News,
Cutting Ps9isssd iisn i,ss. ss ID As'An1e
ENGLAND and TIE SILVER QUESTION.

ENGLAND and TIE SILVER QUESTION.
In Taaeters OF international policy neither this
nce any other country dares to act in deliberate
aat25onism to its neighbours. The comfy OF
Entior3 requires that no Power should follow a
course damaging. directly or indirectly, to the
interest OF. country with which it is at peace.
At the same time, wo seem to be shaping towards
Heoursewhch may bring us into awkward conflict
With the popuarsentiment, If not with the govern
iog powers Of countries with whcn we hold.
politically friendly relations In another column
wo print extracts from o speech made in tho
American Senate the other day by Mr.. Don
Cameron, who represents Pennsylvania. The
Cist Of Mr.. Camerop's contention was that
the English policy on the a!labsorbing
monetary question is directly entagonistic
to American interests, and that the United
States must throw off the influence of English
ideas II she means to maintain the steady march
of her prosperity. There have not boon wanting,
OF late, indications Of growing irritation with this
countryforitsdog -in-the ugerattitudetowards
a1uestion that Is coEvulsng two continents and
Gravo!y compromising the future Of the poorer
States in Europe. This feeling has been voiced
in America by Senator Lodge, whose proposal
10 virtually shut out British goods from the
United States until we should assent to a
bmctollic convention. though extreme and
absurd, indicates the trend OF sentiment on the
ptner Slue OF tue AJlantlc. Nr. cameron Is
much milder, and makes rather on those
who accmatise English ideas in America than
on this country but tho sentiment has tho sape
origin in both cases.
Senator Lodge is not silver man in theus
sense, being opposed ont and-out to free coinage
in tho United States under existing conditions,
and, therefore, his views, though tinged With
strong feeling, may attract moro attention here
than those Of the pronounced silverites. Mr.
Lodge is. very bitter about the failure Of the
Brussels conference of last year, where the atti!
!udeoftho British official delegates was scarcely
lcSsthan discourteous "tothe UnitedStates, and
lie believes that ninetenths Of the American
people regard it in that light. A feeling Of this
Kind is not to te lightly ignored. We have
frequent di2 2lomatic differences with the United
States; but, as rule, there is seldom asso.
cated with these any sense Of animus bstween
the peoples Of the two countries, and such
squabbles pass over and are forgotten. But now
We are encouraging the growth OF a feeling
that on q question which affects the prosperity
Of millions Of individual Americans this
country is inclined to entertain views unfriendly
to the States. We know, Of course, that the
uniriendliness is accidental, and that our none:
tary policy is controlled by purely selfish con.
sideratons--so purely selfish that we do not
mind seeing India suffering from our action
much moro than America does The Americans
ere sufficiently old-fashoned to believe that
it is tho part Of friend to show himself friendly,
and when this country turns q deaf ear to the
paint of half the world, including all the New
World, they, not unnaturally, take it unkindly. 1t
is not for US to say whether the feeling Of irri.
tation is wholly justified or not it exists and
that is tho main point, Moreover, it is taking
q shape that may entail very awkward conse;
quences on us. The recent proposal to coin
Mexican dollars in San Francisco was a bid
towards giving us an object lesson by oustins
US from our commanding position in Eastern
trade.
Senator Cameron points plain moral when
he remarks that if the United States would
venture to cut herself adrift from Europe and
take outright to silver, she would have all
America and Asia at her back, and would cou-
maud the markets Of both Continents. 1.-The
barrier Of gold would be more fatal than any
barrier of q custom house. The bond Of silve,
"would be stronger than any bond OF free
trade" There can be no doubt about it, thai
II the United States were to adopt silver
basis tomorrow, British trade would be ruinee
before tho year, was out. Every American
Industry would be protected, not only at home
but in every other market. Of course, tn
States would suffer to a certain extent through
having to pay her obligations abroad IN gold
but the loss on exchange under this head w0,ii.
be mere drop in the bucket compared with tn
profits to be roaped from the markets Of Soutt
America and ASIA, to say nothing Of Europe
The marvel is that the United States has not
long ego seized the opportunity, and but for tn
belief that the way of England is necessarily tn
way to commercial SUCCESS and prosperity, un
doubtedlyit would have been done long ago. Now
Americans arc awakening to the fact tha
so long as they narrow their ambition to be
coming larger England" they cannot bea
U.S. It has been o piece OF luck Tor U
that it has never before occurred to tn
Americans to scoop us olt Of tie world
markets by going ON silver basis, and
might servo us right If, irritate1 by the co,
temptuous apathy Of our Government TO- tn
gravity Of the silver problem, the American
retaliate by freezing out gold. 1t could cas-,
le done, and we propose shortly TO show,
evidence collected from perfectly unprejudice
sources, that even now the process hos begu
and is proceeding at a rate that will astoni'
most people, and probably make this countl
regret that it did not at an earlier stage fashie
its monetary policy on principles Of friendne
10 other nations, instead Of on basis Of -sho1
sighted sel6shness. -