The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-10-03
lNSINCERE BIMETALLISTS
SENITOR HOAR TELLS OF IVH1THE
LEARNED ABROAD.

England Would Like to Have the United
| States Pull the Chestnut Out of the Fire
| -France and Germany Incline Toward
International Use of silver as Coin-An
Instructive Interview.
Worcester, Mass, Oct. 2-Senator
George r. Hoar arrived in this city last
evening, and is looking in excellent
health and in the best of spirits, He
is ready to take an active part in the
/ campaign, but his itinerary is not ar
ranged. He had hoped to land early
enough to attend yesterdays conven-
ton, but the steamer was, unfortunate
| ly, a day late, But when asked to-day
to say something to the republican par
/ ty of what he would have said at the
convention he consented to be inter-
viewed by the Gazette reporter, and
| spoke as follows:
Il 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 lead
ers in the party now in power In Eng
| land. There is undoubtedly a very
1 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 servant
of national and international trade and
| commerce as currency.
II suppose, indeed, 7 think I know.
that this is the opinion of q majority
of the present cabinet. Perhaps they
| would not think it wise that England
! should open her own mints to the free
coinage of silver even if there were an
| agreement of all the other commercial
nations to the same. They think that
might result in the drainage of their
gold to the east But they would at
least favor the reopening of the Indian
mints by requiring the Bank of Eng
| land to keep q large portion of it's re-
serve in silver, and perhaps the discon-
! tinuance of the use Of notes under the
denomination of ten pounds, with the
| result that their place in circulation
would be very considerably supplied by
silver
1T is we'll known that large ma
iority Of the French assembly have
passed a resolution within a few
months expressing the desire of France
to cooperate in such a step, and there
is a large party in Germany of the
same way of thinking. Monsieur Me-
line the present prime minister, declar-
| ed in his speech, Of which / have a
copy, that whenever the other nations
were willing to take that step they
| fr,,. 1Nnn
But there is in England considera-
BILE difficulty in the matter. Leaders
| of the opposition, Sir William Vernon
Harcourt especially, and Mr. Glad
! stone. who, although out of office, is
| still a great political force, take the
| brutal view that so long as other coun-
tries owe England an indebtedness, es-
| timated by some persons as high as
! ten thousand million dollars, that ev-
erything that increases the volume of
the coin in which the debt is to be paid
is clear gain to her.
"The administration is tinnid, and
although a majority of the administra-
tion are bimetallists, they would en-
counter some opposition among them
selves, and they do not like to encount-
er the banking and investing classes in
the city of London So it does not
seem to me that English bimetallists
mean business.
tThey seem to be rather willing that
the United States should take the risk
of pulling this chestnut out of the fire
rather than have England do it herself.
They are not ready to say to the ad-
ministration, If you do not do what
we want in this matter we will not sup
port your administration At the same
time, in spite of this obstacle l believe
that Mr.. Mckinley, If his administra-
ton be wise, will effect an interna-
tional agreement which will remove
this vexatious question from our poll
tics.
Il do not think any large number of
sincere bimetallists either in this
country or England tolerate for a mo-
ment the plan of having the United
States establish the free coinage of sill
yer at the rate of 16 to /, or at any 9TH
er ratio, without the cooperation of
| other nations"
| Mr. Hoar then spoke on the probable
effects of free silver and free trade in
| this country.