New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-22

drained from New-York and Washington In con-
sequence OF the defeat Of the Republican party,
ihucn or IL Will go through the Bank Of England
TO be completed
Russia is also moving in the direction Of none
tary reform a gold basis The methods en-
ployed are similar to those adopted in Austria
Hungary. In 1899 the coinage of 10000 900
golu ruD!es was authorized. gold OF
'oO.OOO.OOO rubles has already been created and
about three-fOurths OF the paper circulation is
covered Gold resumption in Russia will not he
oeierred many years. and the process will he
Facilitated II the American Silverite Repudia-
tonists are allowed 10 have their vay Areri-
can gold will go to ST Petersburg as we'll as to
Vienna, and Russian silver will he sent to the
tn'tcd states. In the new Russian currency
the ratio between gold and silver is 81 TO / II
the legal ratio be IS 10 / in America with the
minis opened to the world. Russian silver will
be worth more in the United States than Il lis at
nome and VIII be exchanged for gold But in
any event. the Russian OF gold will in
eIltaDiy he increased at the expense Of the
united states under Democrat Populist rule
Free silver in one country will quicken the proc
esSes or currency reform and gold resumption
M IN .ne o e Russia is the chief rival Of the
Inited states in the production Of wheat for
which II has vast areas as fertile az the Da-
kotas and with cheap labor available for Guilt
waiting them and harvesting the crops. Ameri-
can farmers by voting for free silver are doing
what they can to depress their own industry by
increasing the disordered condition OF the Ma
n phdI cu !, and at the sane time they are
nance the value of the great connecting wheat
crops by carrying TO completion monetary re-
forms which are now well in hand
AMERICA FREE TO RISK BANKRUPTCY
While bimetalllsts In Europe have adhered to
their opinions and have been energetic In pro-
claiming them Government after another
has been suspendlng silver coinage. adopting
the gold standard and accommodating reserves Of
soid as the true basis Of renedyng the evils OF
deprecated or fuctuating currency London.
md Do ho..
Vienna and st. Petersburg have followed It: and
the tren OF financial opinion and administrative
experience throughout Europe is in the same
general direction Spain suspended the coinage
OF silver in 1878; Rumania a wheat countrv
with an increasing volume OF export trade.
adopted the gold standard In 1890: and Egypt
ana Iunis have acted on similar lines Chill has
resumed gold payments under single stan
dard; and Argentina. influenced by the example
OF her spirited and enterprising neighbor is
likely to find redemption from the manifold evils
Of fiat currency through the same policy Even
venezuela has recently adopted the gold stan
dard.
The civilized world outside the United States
is moving In the same direction Of SINGLE
standard Of values as the basis Of a sound me-
uum on exchange and financial stability and
the increased production Of gold in South AZ
rica and Australia instead OF checking and re-
straining this general tendency is linpartng
another 70 enlarge its gold reserves. These fu-
tile international conferences have accom-
pllshed nothing for bimetallism. Silver has
been falling lower and lower year by year as
Its production has increased. and the disordered
conditions Of American finance have warned
European governments that silver legislation Is
beset with uncertain difficulty and danger.
What is there in the recent experience Of the
United States to induce any European Minister
OF Finance to believe that any nation acting
single handed and alone. can counteract the uni
Nersal law Of supply and demand? CnGer the
Bland and Sherman acts silver costing S46i.-
2lO262 was purchased. and the direct loss from
shrnkage In value, as computed by the Di-
rector Of the Mint. has been S145 ST. 90 Mean
while silver has been steadily falling In value.
the credit Of the United States abroad has been
seriously impaired; and the disOrdered condi-
tion Of the currency has been increased Eu-
ropean countries which have suspended silver
coinage and adopted a gold standard have had
a different experience. and they are proftIng
by II. They are all moving on In the direction
Of financial stability and monetary reform. and
leaving the United States. If it's people are bent
upon trying terribly hazardous experiment. TO
attempt free coinage at dishonest ratio. with
out waiting for the aid or consent OF any other
nation" l. n. T.