People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-10-29

WI
London, March 10.-The London
Financial News says: The financial
situation in the United States is very
serious. The senate has blocked all re-
lief measures proposed by President
Cleveland, and congress is at dead
standstill on the money question. The
free coinage senators are masters Of the
situation.
The condition of affairs in the United
States congress demands the immediate
attention Of British 6nanciers and states
men. The trade Of the world is now in
our hands, but it will not long remain
there if the United States goes to BIZ
metallic basis with free and unlimited
coinage Of silver.
With the addition Of silver to the vol
ume of money, everything in America
would take on a new face; labor and in
dustry would gain new life. The grip
of the gold standard on the products Of
the world would be loosened and prices
would rise. Great Britain would lose
her markets in South America, Asia
and Europe, and American ships would
not be long in capturing the carrying
trade of the world.
British creditors must now apply
themselves quickly to the American
money problem. The sound money men
and banking interests led by Senator
Sherman, Cleveland and Carlisle, with a
plentiful supply Of means, have been
beaten. The American people are now
thoroughly aroused and educated on the
power and use of money, and made des-
perate by debt and business depression
they are forcing free silver as the main
issue.
Great Britain need fear no injury to
her trade or investments if the Republi-
can party can force protection tariff"
as the main issue in the coming presi-
dental campaign, but if free silver
dominates the American mind and car
ries at the polls it will bring about
change in England that will be ruinous
from its suddenness and severity. The
damage that can be done British manu.
facturers by protective tariff is slight
compared with the disasters that would
be entailed by change from a single
gold to a complete bimetallic standard.
1t is evident that the Democratic party
will not renominate man who holds
to President Cleveland's ideas on
money, and the only hope for continu-
alton of Mr.. Cleveland's financial pol
icy will be in the success Of the Repub-
licans in the next election.
The success Of free coinage will bring
down the rate Of interest on money, and
cause an immediate rise in the price OF
all commodities. When silver becomes
primary money the American mines will
pour their products into the minis, and
a new era similar to that produced by
the issue Of greenbacks during the civil
war will begin. Gold will leave the
banks and enter into competition with
silver in the avenues Of trade, and tho
Of the United States,
which have been shut down or crippled
since 1892, will again resume their fight
for the English markets.
1t is doubtful whether the Republican
party Can be held much longer in check
by sound money statesmen, as its ad.
herents are divided by powerful fac.
lions. The Democratic party is alss
up under the weight Of the free
silver agitation. 1t matters not to Great
Britain which party succeeds il the gold
standard is maintained, but either of tie
I'D parties or a new party goes into
power pledged to free coinage will be