The San Francisco call., 1896-06-21

University Teaching, and who will deliver
a course of lectures in Philadelphia this
summer on medieval history, was at the
Occidental yesterday, having completed a
hasty tour through California. He left for
New York on the evening train, accom-
panied by his wife.
Mr.. Belloc is a graduate of Oxford and
bears the distinction of being president OF
the Oxford Union, the great debating club
of which Gladstone was once president
and over which such men as Lord Dufferin
and Lord Salisbury have since presided.
He has Iectured extensively in England,
and is a close student of political economy,
especially that of the North of England,
the industrial part.
Mr.. BelIoc says he is a strong monomet-
allist.
When asked for an explanation of the
money question as it exists in England he
dictated the following:
The first question that presents itself to
an Englishman is, Has there been an ap-
probation OF gold or has there not2 The
Intelligence of England is divided fairly
equally upon that main proposition.
Granted that there has been an appre-
citation of gold, what is the position OF the
average Engishman in the face of the
change? 1t is as follows: He believes that
1t would be possible by international agree
ment to introduce the double standard
again.
There are two main qualifications to this
belief. First, he honestly believes it ex-
tremely difficult to say exactly what ratio
the monetization of silver should be given.
l cannot remember any person of stand
ing who dreams of putting IL as high as 16
to 1, though it is. of course, apparent to
all educated men that the demand created
by sucn a change would raise silver we'll
above its present value.
The second qualification is one that
must be characterized as matter OF Ma
tional or personal interest. The same is
true of the Nevada man In this country as
of the Englishman with Argentine inter-
ests First, England is known by most
educated Englishmen to be the great gold
cred1ting nation of the world. and, there
fore. even ifthere has been an appreciation
of gold England would on the whole ben
eft from it. The second point is: During
the last eighteen months there has been
singular revival of prosperity IN England,
as was shown by the last Conservative
budget.
Another point that makes EDghshmen
in favor of the gold standard is that Eng
land historically is known to have led the
way to a gold standard and to have pros
pered under it during this century far
more than those Continental nations that
delayed the adoption by half century.
There are three very important classes
of people in England that are in favor OF
the bimetallic understanding: One The
agricultural interest, because 1t Is noped
that it would raise the prices OF agricul-
tural products. Two-The Lancashire
cotton-spinners, because their trade with
India suffers from the uncertainty OF ex-
change, and especially from the com petit
ton of the labor which is paid in the Sill
yer rupee in India. Three-As class all
those who are engaged in governing India
itself-civil service officers, soldiers ana
others; these men have their salaries paid
in the silver rupee, which is no injustice
to them while in India, but which is OF
steadily decreasing value when sent as
remittances to their families in England.
Those three classes, the agricultural, the
Lancashire cotton spinners and those in
the Indian service, while they do not rep
resent anything like voting majority,
D prvertheless must be given enormous