The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-09-08
INTERNATIONAL RIMErALLIsM

~ ''+t'f'N' lth' A'tiItls
The McKinleyite position that the OK
is'ins gold standard in this country must
he pre- crrcd' unt.l international oimetal-
ism can be secured by the agreement of
European countries, and that independent
FREQ coinage ny the United states would
Indefinitely Postpone such agreement. has
been declared untvnablo by another Euro
pean bimetall!st whose authority has been
cited in its support Mr.. W. ii Grenfcll,
president of the general council of the
Timetable League Of England. had held
with the late NJ. CcrnusCni that INT, rna-
I9ii,a., agreement was cecessary 10 the es-
tapls hmeni Of bimctlllsm. Like the dis
- u'Huct frehchmtn nc changed his
inlnu on that potnt after orouun study
o! the situation In this country Mr.
oFeniei now holds that the United States
Mould 90 well to return to cree coinage
without regard to what any other un-
Try may 10 or may not do. SAID he:
II J. were citizen of thcV niJcd States |
should 80 about with 10 80 hld,ye- all over
me ~ ! an prc,ly good nuisance to my
,tVnnn5 Herr ABOUT bimetai.i'm hut over
i",tr should he avoided Ike a l,estllence.
believe that If the system we're gwen
laIr play the United states * big enough,
ron enough and strong enough To ram
tan the par II exchange l,one ana to set
w. the ratio for the world Resides, |
neL'Ne mat other countries would soon
hteu drawn from the country for some
""1' ana II does not seem Il logical way
500, Keep one gold by Increasing ones
gold Indebtedness. which IS apparently
ne sound money" pandcc1. SuIposine
mat on the passage of a free coinage act
in the United States there was "A panic.
tnd gold left the country IN large guam
uNes, and there was a gold premium m
Sew York, what would naturally happen?
ne god would come to Europc: there
".'uin be- great stimulus to the exports
ul me I nited states in consequence of
me 3'.hgr g"id price, and gold would
would much rather try To keep .:1I in
the United States by going ON to silver
than by raising gold houds."
Mr. Grenfell admitted: that there might
he at hrSt a fan in the price of railway
stocks ana other American securities held
IN Europe, but added that il the question
were settled on bmetal.ic bass there
WoNid be a certain rise ald Il period of
| general prosperity. To the question
whether there would not he a Gear of
Europe unloading her silver In An,rica #
'ne uited states adopted free coinage he
| replied: NV
r,I do no, think so. in the first place as
| me ol'Ner Of France Germany i,,fd III,
wn,id u ntnon Is coined at l5's % /. it
| al 10 TO it would be worth ; her cent
i.sS, IN the second place. owing 10 the
u,,n1thI Tor silver for m.sce.lanc5ds pur-
| 60. And In the third place, the ,icireateS
from Germany, France, Austria. Den.
Semhed at the Brussels bimet7,jIii,c'' '' a
lttenye. signed resolution in WHOM thev
| S,a,t1 maj in their opinion, If the / nite;l
states adopted the h.metall!c system IN
ntt"inscment could be arrived at Which
M"uU prevent the silver from Europran
VounuieS ana their colonies being thiown
"l"n Si'' WlntS OF the United states As
| reEnrns the '5o-cent dollar / think sociat'
p y, mo-, Hc,oinomicaily scent collar is
am pad dollar and can nav nv dcb,s
| wiuh Il, DO not much care whether !, is
vt,,Td ~-cent dollar or not But there
| soon as the minis were freely "ner,d - y,
SS...N,er mere would be a great ise in rs
| ha'~e Is compared with gold. There wouid
| 80 LOUD nut, the population ard trndc
Since Nj ,n9 lS word having Increased so m%cR
| nricss 30 y Is extremely unlikely that
II SILVER were again freely coined. wen