The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-09-27

for opposing this American movement,
and their reasons certainly have the
weight of honesty. They are English
men, firm believers in and advocates
of British supremacy, and being hui
man they prefer to see their own coun-
try. rather than any other prosper.
If anything were wanting to show the
American the benefits TO this country
of free coinage, the reasons of these
men would fill the gap.
Here is an example of what | mean
In the present government there are
several men who are strong bi-metal-
lists. In the course of seeking after
truth, was shown letter from one OF
those who wrote that while he is as
strong as ever i'm favor OF international
hi~metallisln, and he believes that II
is essential 10 she prosperity of the
world, he could not go On record in fa-
vor Of the American movement. be-
eauSe-and here il the whole gist of the
thing because, in his opinion, 1t would
bring e5out small premium on gold,
aad that premium on gold, however
small. would lie disastrous to the com
uaerciaI interests of Great Britain.
lie went ON to sum up the situation
briefly 10y saying that it was perfectly
evident TO him that should Great Brit
ain retain the gold standard with the
United States opening its mints TO sill
yer as proposed. the other nations of
the world would be willing to sell their
goods to Great Britain, having the
highest money, but they would go else
where to make their purchases; and
this would initiate directly against
the great commercial interests of Great
Britain.
The letter was shown me by very
prominent London fnancier He him
self said that he had no fear of a pre-
MUM on gold, and did not believe that
there would be any premium ON gold
If the United States went to the silver
standard because he believed that
this country was able of itself to main
tain the two metals at parity; that
the unlimited purchase of silver at the
ratio of Is to / would of itself bring
about the parity which it's friends in
this country believe it will.
There was present at our talk, which
took place in an office not stones
throw from the Royal Exchange and
the Bank ofEngland another Lon
doner. This latter took the same view
of the situation as was expressed in the
letter we were discussing. He believed
there would be a premium on gold,
and that he, therefore, was opposed to
this American movement though he
was a bi-metallist.
But" asked him, IF you were an
American"
'.Ah,' said be, that is different. If
/ were an American / should much pre-
fer a premium on gold, for | believe
that it would bring about a great in
crease in the commerce of the United
States to the detriment of the com
merce of Great Britain"
Another of the gold standard argu-
ments which was promptly punctur-
ed by these gentlemen, who were stu
dying the question from its effect on
their own commerce, was that about
which we hear so much-not an argu-
ment it is true, but as much of an ar
gument as is ever used in the attempts
TO uphold the gold standard: That is
the contention that this country should
uphold the gold standard because it is
the standard in vogue in the Christian
countries of the world. The Ameri-
cam Republican campaign speaker,
who does not ring the changes on this
statement rolling his eyes at the same
time toward heaven and wearing as
sanity a look as it is possible for him
to produce, would be an anomaly.
- -
my question on this point was:
Are we all in business for our
health, and it is the habit of the manu-
featuring and commercial nations of
the world to restrict the sales of their
products by basing their commerce
on the religion or THE quantity of the
so-called western civilization which
they find in a nation? That is the
silliest statement of them all. The
fact is that the silver countries of the
world are the ones which offer the
greatest field for commerce. | do not
think that the merchant inquiries very
closely into the religious belief or the
personal habits of a man who comes
to him to make purchase, and what
is true of the merchant is true of the
commerce, taken collectively, by the
nations. Ii by change in your fl
nancial policy you are able to take
from Great Britain the commerce of
: the silver-using countries there will
be very little left for us. Mind you,
do not say that you will, because our
government is too shrewd to give you
the opportunity. If the United States
takes the step which you say is posi-
bic and enunciates through it's govern
ment its declaration to place silver by
the side of gold as your Democratic
party declares, you will, in my opin-
ion, see the India minis thrown open
to silver Immediately and the restora-
ton of bimetallism made complete
throughout the world. We will have
to do it in self-defense.'
But they tell us" I said, "that
should Mr.. Bryan be elected you peo-
pie over here would commence I'M
loading American securities in a way
which would be detrimental to rs"