Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-08-15
AZ ENGLAND Sims u.s..
IA London Paper Let's the Cat Out
OF the Bag In Good shape.

M - rN
From London Financial News, March 10.
The financial situation in the United
States is very serious. The senate has
blocked all relief measures proposed
by President Cleveland, and congress
is att 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 financiers and
Statement. The trade Of the world is
now In our hands, but it will not long
remain there II the United States goes
to . bi.metallic basis with free and un-
limited coinage Of silver.
With the addition OF silver to the
volume OF money everything 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 lose
her markets in South America, Asia
and Europe, and American bottoms
WOutO NV W AOnk III OpRtut lux buo
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 Sem
ator Sherman, Clevrla land and Carlisle,
with a plentiful supply of means. have
been beaten. The American people
are now thoroughly aroused and edu-
Gated CD the power and use of money,
and made desperate by debt and pusi-
ness depression, they are forcing free
silver as the main issue.
Great Britain need fear no injury to
her trade or investments if the republic
a party car force 'sprotection 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 q
change in England that will be ruin
Gus from its s%uddenness and severity.
The damage that can be done British
manufacturers by a protective tariff is
slight compared with the disasters
that would be entailed by a change
from q single gold to a complete BIZ
metallic standard.
It is evident that the democratic par
ty will not renominate a man who holds
to President C~leveland's ideas on mon
ey, and the only hope for a continue
ton of Mr.. Cleveland's financial pol
icy will be in the uccess of the repub-
licans in the next election.
The success of free coinage will
bring down the rate of interest on
money, and an immediate rise in
the price of all commodities. When
silver becomes primary money, the
American mlnes will pour their pro-
ducts into the minis, and a new era,
to that produced by the issue
greenbacks during the civil war,
will begin. Gold will leave the banks
and enter into competition with silver
10 the n of trade, and the manu-
factories 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
ts adherents are divided by powerful
factions. The democratic party is also
breaking up under the weight of the
rec silver agitation. 1t matters not to
Great Britain which party succeeds if
he gold standard is maintained, but
,ither of the old parties, or a new par
y, which goes into power pledged to
rec coinage, will be inimical and
to English manufactures
md trade.
The American people cling with won
lerful ~tenacitY to party organizations.
tut financial embarrassment aud bust
less stagnation has become too severe
or their patience, and they are ready
or any change that promises relief.
They are becoming convinced that it
,annot be found in the protection
heory, as that has been tried, and they |
ire massing now on free silver. When
hat issue m fairly before the
people, England will regret
Ter apathy and adherence to the single
rolI o4anAard - |