New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-24

reserves Of gold will not reverse their none
tary policy at the bidding of a reckless country.
which courts bankruptcy and dishonor by repu
dating Its obligations. They will he repealed by
a pseudo bimetallism. which is simply silver
monometallism. They will increase their own
reserves OF gold complete their resumption
policies. impart additional stability to their own
currency systems. and establish their financial
independence on an enduring basis with a single
gold standard. Theirs Will he the independence
OF unblemished credit and national honor
America will be left in ignoble isolation bank
rupt In resources and bereft Of honor and
son.
THE ANTI-ENGLlSn WAR CRY
The Repudiationists In denouncins gold mono
metallism as a British policy mot only
American but anti-American." have appealed
to the traditions OF 1916 and attempted to
arouse an ant-English feeling in the United
States Never was greater folly known While
England has adhered persistently to the single
gold standard. 1t has an Indian Empire in which
silver Is the only currency circulating among
enormous hives of population; and 1t has
larger trade with the sve: countries of the Far
East than any other nation. No country has
suffered more from the decline Of silver and
wheat than England. for the finances and trade
OF India have been disordered and the agricul-
tura classes OF the United Kingdom have been
d:sastrously affected by low prices and foreign
of the double standard was to he won If any
where and with four members of the present
Ministry convinced bimetallists and the major
ity of their colleagues either we'll disposed tow
ard the policy al least open-minded respect
ing it, there was a fair prospect of the ultimate
success Of the movement. Lancashire. with
its diminishing cotton trade with India. was
favorable TO bimetallism; the agricultural dis
trcts overwhelmed with depression were des-
perate and ready for almost any change of
me notary policy. The real monetary battle
ground was India, where the minis We're not
closed to the free coinage of silver until lS'6.
twenty years after Germany had adopted
single gold standard. and fifteen years after the
States Of the Latin Union had suspended their
agreement. While the issue still uncertain.
Notwithstanding the trend of opinion in Europe
in the direction of single standard. the Popu-
list emocracy has interviewed with reckless
frenzy make bimetallisn disreputabe
cause. Synonymous with reputation and dis
honor A Populist- Reputation canvass in
America. conducted in a spirit of irrational
hatred Of England. silences the champions or
bmetallism here and renders the issue OF the
battle OF the standards on Popust lines no
longer doubtful.
II the Continental nations which have been
recognizing their currency systems. accumulat-
ing gold for resumption purposes. and approach
ing gold recommendation as the safest basis OF
finance are repealed by an irrational scheme or
free coinage grounded upon false and dis
honest ratio, England certainly will not be CON
ciliated by threats nor convinced by the menace
Of What is proclaimed with cynical frankness
TO be an anti-Br policy inspired by the
spirit of 1776 The only hope for rational BIZ
metalsm lies in the overthrow of demoralized
coalition party in America. which Is In revolt
not only against English policy. bu' also against
the experience and enlightened sef-interest or
Europe. II that victory can be won for AIneri-
car morality. and if bimetallism can be re-
deemed thereby from the foul reproach OF
barefaced conspiracy for plundering creditors
for the benefit Of debtors. the way may yet DE
opened for international action on a monetary
question Of paramount importance. which af-
fects England and It's Indian Empire more
deeply than America. l. y r.