Graham guardian., 1896-08-28
ENGLAND's SITUATION.


the London Financial Nc,cS of
March 10th, 1896, but at the present
luncture will well bear reproduc-
Lion.
"The financial situation in the
United States is very serious. The
senate has blocked all relief
measures proposed by President
Cleveland, and Congress is at a
dead standstill on the money
question. The free coinage sena-
tors are masters Of the situation.
The condition of affairs in the
United States congress demands
the immediate attention of British
financiers and statesmen.
The trade of the world is now in
our hands, but it will not long
remain there if the United States
goes to brmetallic basis with free
and unlimited coinage of silver.
With the addition of silver to
the volume ofmoney, everything in
America would take on a new face,
labor and industry 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
loose her market in South Amer.
lea, Asia and Europe and American
ships would not be long in cappttur-
ing 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 plentiful supply OF
means, have been beaten. The
American people are thoroughly
aroused and educated on the power
and use of money, and made
desperate 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
republican party can force "pro
lection tariff as the main issue in
the coming presidential campaign
but if free silver dominates the
American mind and carries at the
polls, it will bring about a change
in England that will be ruinou:
from its suddenness and severity
The damage that can be done
British manufacturers by a pro
tective tariff is slight compared
with the disasters that would bt
entailed by a change from single
gold to a complete bimetalli'
standard.
1t is evident that the Democratic
party will not renominate mar
who holds TO president Cleveland
ideas on money and the only hop'
for a continuation of Mr.. Cleveland
financial policy will be in th'
success of the republicans in thu
next election.
The success of free coinage viii
bring down the rate of interest oil
money, and cause an immediate
rise in the price of all commodities
When silver becomes primary
money the American mines vii
pour their products into the mints
and a new era similar to tina
produced by the issue of green
backs during the civil war vii
begin. Gold will leave the bank
and enter into competition will
IN the avenues of trade and th'
manufactures of the Unitet
States, which have been shut dowl
or crippled since 1892, will agar
resume their fight for the English
markets.
1t is doubtful whether the repub
lican party can be held much Longer
in check by sound money states
men as its adherents are divided
by powerful factions. The Demo
cratic party is also breaking W
under the weight of the free silver
agitation. 1t matters not to Grea
Britain which party succeeds i
the gold standard is maintained
but either of the old parties or
new party which goes into power
pledged to free coinage will be in