The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-09-06

it bears with you. In the United States,
as | understand, a bi-metallist is one
who wishes the United States to adopt
the bi-metallic system without any in
ternational agreement with other
countries-to go it alone, in fact;
whereas in this country the bi-metallic
league exists for the purpose of secur-
ing by international agreement a sta
bic monetary par of exchange between
gold and silver. With us bi-metallism
means international bi-metallism;
with YOU ii means bi-metallism for the
United States Independent of any a
greement with foreign countries. This
difference opens up a most moment
Gus question: What would be the effect
of the success of the bi-metallic party
in the United States? Or, in other
words, what would be the effect on the
United States and on the world gener-
ally if the United States adopted BIZ
metallsm at Is to / without an inter-
national agreement with foreign coun-
tries? On this point / may at once
say that / am at variance with what
has hitherto been the feeling of the
English Bi-metallic League. The Eng
lish Bi-metallic League, as a league, is
opposed to the policy of single handed
bi-metallism for the United States for
two reasons-first, because they are
afraid that the United States, single
handed, may not be able to maintain
the monetary par of exchange between
the two metals, and so bring discredit
and failure upon system which they
maintain to be sound and orthodox
and thus put the whole system back;
and, second, because they are afraid of
seeing a gold premium in New York
which would act as a protective duty
against our exports there, and give
them, by establishing a common me-
dunn of exchange, an advantage over
us in trading with the east.
II personally do not share these
fears. On the contrary. / look to the
United States as the one great hope
of anything being done in the direc-
ton Of international bi-metallism.
Matters in Europe are at a deadlock.
Ones thoughts, therefore, turn to
the great republic across the seas. She
has the opportunity and she has the
power of setting the example. 1t is an
example which, believe, will be speed
lily followed. Russia has come to the
parting of the ways. She has deter
mined to adopt a metallic basis for the
money; that basis must be gold or BIZ
metallic She cannot afford to have a
monetary system out of harmony with
that of other civilized countries, and
If there is no hope for silver then she
must go on to gold, even though she
knows that in the way she must face
all the evils and dangers of contract
ing money supply. France has already,
through her parliament, declared in
favor of the bi-metallic principle, and
both of these countries would welcome
any step which promised a definite
solution of the great gold and silver
question. Other countries would, be-
lieve, soon follow. If they are going
to wait for England, nothing will be
done. The difficulties in the way of
getting any particular ratio sanction
ed by the House of Commons are inv
superable The English Bi-metallic
League itself is not agreed as to the
ratio to be adopted.
IF | were a citizen of the United
| States | should go about with 16 to /
badges all over me. / am pretty good
nuisance to my friends here about BIZ
| metallism, but over there / should be
avoided like a pestilence. / believe
| that if the system were given fair play
the United Stats is big enough, rich
enough and strong enough to main
tain the par of exchange alone and to
settle the ratio of the world Besides,
| I believe that other countries would
soon follow her example"