Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-07-14
PROF. WALKER TALKS.
Has Something to Say on Political Situation
and the Money Question.

London, july lo.-At q meeting or the
Bi-metallic League. today, an address
was delivered by Prof. Francis A.
Walker. an American political econo-
mist and superintendent of the census
of the United States Of 1870 and 1850.
Prof. Walker was frequently inter
rupted by bursts of cheers. He de-
clared that no gold monometallist
party existed in the United States, and
said he would stake his honor that If
a bi-metallic convention was proposed
to the United States by the principal
sound money men Of Europe, Anieri-
cans would tumble head over heels in
welcoming the proposal.
Senator Gray, Prof. Walker said.
would find very few men TO join him
in his opposition to the proposal for a
common ratio between gold and silver
What the silvertes really desired, he
continued, was silver imitation, Widely
separated from these men. were the
real Di-metallists of the United States.
Nothing, Prof. Walker declared, could
be more unfounded than to say the
Republican national convention held
in st. Louis had pronounced in favor
Of gold metallisnl. Mr.. McKin-
ley, he said, had never been a gold
mono metallist: he could not be one if
he tried He has always been uni
formly q bi-metallist. The mainten-
ancc Of the gold standard in the
United States was not rendered a whit
less secure by reason of anything done
at the convention held in Chicago. De
spite much friendly advice from this
side of the ocean, the United States
was not going to pull others peoples
ChcstnutS out of the fire. and would
remain devoted to the rehabilitation of
silver as a money metal and always
ready to make sacrifices to that end.
The bonds of the United States. he
added, would continue to be paid in
gold or its equivalent. and the credit
of the United States would continue
To be as high as it ever had been since
she had triumphantly indicated her
nationality in the war of secession
Prof Walker was vociferously cheered
as he resumed his seat at the close of
his address.
The annual report Of the league was
read by the secretary. 1t was quite
optimistic in tone, declaring internal
tional bi-metallism had made a note
worthy progress in all the countries
where the question has been discussed.
After referring to the resolutions in
favor Of M-metallism adopted by the
popular chambers Of Prussia, France,
the Belgium the report said that in
the United States all the political
parties and all classes Of business men
would welcome the establishment of in
ternational b-metallism.
y large number of the people of that
country were so thoroughly convinced
of the necessity for the reconciliation
of silver that they were not disposed
to wait for an international agreement
to that end No party of Importance
in America favored gold mono-metal-
lism. In conclusion, the report said:
THE responsibility for the present
and growing dangers to the industrial
life of the nation rests upon those who
oppose the monetary system under
which our prosperity advanced by
leaps and bounds.
A letter from Lord Aldenham. presi-
dent of the league and head of the firm
of Anthony Gibbs & Sons, and a di-
rector Of the Bank of England. con-
graduated the league upon the
progress bi-metallism had made in
the United States. He said that it was
a striking fact that the question Of the
bi-metallism which in some quarters
in England, was to be treated with
contempt, should apparently be the
main political question before the peo-
pie of the United States.
Abiding to the general attitude of
the London press, Lord Alderman said
the newspapers had joined the chorus
clamoring for honest money and be-
lieving in honest money in the
United States was applied to gold
-metallism, whereas. as a matter
of fact. it was applied to international
bi-metallism. The letter concluded
with declaration that whatever might
be the result of the approaching Presi-
Dental election in the United States
the bi-metallists could be sure their
cause was advancing.