Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-09-27
ENGLAND FEARS BIMETALLIsM.
WHYP


the genuineness of which was disputed,
but has since been fully established that
the free cinage of silver by the United
States would at once destroy England's
control of foreign trade, and give this
country that of all silver using peoples.
The only way in which England could
prevent this would be by going herself to
the free coinage of silver by the United
ping us in the race to bimetallism. For
this cause, she both fears and hates BIZ
metallism, and will practice deception,
spend money, and do almost anything
else, to prevent its adoption by us.
Another cause for British opposition
to the American policy of bimetallsm, is
we'll stated by Judge Gaynor of the SUI
preme court of New York, who has re-
Gently had opportunities on the spot for
personal observation: Il found" says he,
"a strong public opinion in England in
favor of the election of Mr.. Mckinley.
The reason for this preference now for
the man who has hitherto been the most
disliked in England, was easy to aseer-
tain. The American doctrine of protec-
ton is abhorred in England; but the
many Englishmen who live on fixed in
vestments would rather see it trium-
plant, than see us depart from the gold
standard for the joint standard. They
are keenly alive to the fact that gold has
greatly appreciated in value since 1873,
thereby increasing the purchasing value
of their incomes, and that IL gold be
brought down to. its normal place and
value, they will be unfavorably, though
justly affected. 1t is their belief, or fear,
ha mi q h eb
the mint standard, the European ma
lions will soon follow the same course.
When it is borne in mind that such fixed
incomes in England are fed by as much
as $500 900, 900 a year from foreign coun-
tries, large part of which comes from
this country, the magnitude of the Eng
fish wish that the nations will adhere to
the single gold standard and thus keep
gold abnormally high, is apparent"
Is it a matter for surprise, that all
those who Give on fixed investments"
everywhere, whether here or in other
countries, are opposed to bimetallism, ia
yor MeKinleys election. and are now ex-
pending part of the unjustly increased
purchasing value of their incomes, to buy
up or drive men into voting for him? Can
1t be doubted, that if the truth were
known, it would be seen that Hanna's
corruption fund draws as largely from
contributors on the Thames as from those
on the Hudson and the Schuylkill? and
that British gold is now essaying, COW
ertly, the subjugation of this country to
British policies and interests, an achieve
ment twice openly attempted in vain by
British valor and steel to their utmost?
Still another reason for the anxiety, of
even the manufacturers of England, for
the election of Mckinley in spite of the
hatred for his protectionist ideas, is the
lesson they have learned since 1873, that
they cannot hold their own under their
gold standard, with manufacturers Of the
same articles in siyer-using countries
Mills competing with those of Manches-
ter are being built even by British capt.
tai in India, Japan. China and Mexico,
and these new factories are expelling
with their products, those of British home
factories from the best markets of the
world English nlill-owners, now stag
gering before the competition of the east,
would inevitably succumb to that which
they foresee would be developed here in
the United States-partly as in the coun-
tries already named, by British capital
81,
writing and gasping for life, shall be
delivered from the crushing, murderous
garote of gold recommendation. If our
manufacturers are so stupid and blind,
as not to discern directly what benefac-
tions bimetallism would bring them, they
should at least learn something from
the fears and forebodinss of their most
formidable rivals.
Still another class of Englishmen OPP
pose bimetallsm in the United States.
They are the operators in every line of
business, who are enabled by the wicked
folly that controls our finances, to go into
the London silver bullion market and
there buy, not only the silver product of
other countries, but also our own, at
about 67 cents an ounce, and send that
same bullion, uncoined, or as coined ru-
PEGS to India, there to buy as much of
cotton, wheat and of all other products
of human labor as the same weight of
silver would have purchased, when, in
1873. it was worth $1.29 an ounce or more.
in gold throughout the world. These pro-
ducts of ryot and coolie toll thus pur-
chased largely by our own silver at the
price to which our financial idiocy has
degraded it, fix the prices of all our own
cotton, wheat, and many others of our
products, in Liverpool, London, and other
markets, at the gold value, in London, of
their silver cost in India, with freights
added. Here we have the secret-an open
one indeed-wlthout resort to the false
drivel about overproduction of so per
cent wheat and cent cotton, and the
loss by our farmers and planters by the
decline of their wheat, corn, cotton and
oats, four articles only, of $500, 900 900 an
nually for the last four years, from the
| prices even of 1892. Here, too, we have
the reason why all classes, except agri-
culturalists and land owners in England
desire the continuance of the gold stand
ard here, which furnishes them our cot
ton and wheat( our corn and oats, and
other products. at prices lower than any
known in centuries; prices which are
pauperizing and running our agricultur-
alists. making our freeholders tenants,
our tenants labores and our laborers
tramps. IT is a proposition demonstrable