The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-08-15
SITUATION VERY SERIOUS
WHAT THE LONDON FINANCIAL
NEWS SAYS.
Not Intended for United States Readers
With the Addition of Silver to the
Volume of Money Everything in
America Would Take on New Face
The London Financial News says;

The London Financial News says:
''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 u |
dead standstill on the money question. |
The free coinage Senators are masters of |
the situation.
''This condition of affairs in the United |
States Congress demands the immediate
attention of British financiers and states
men. The trade of the world is now in
our hands, but it will not long remain
there if the United Staes goes to hi
metallic basis with free and unlimited
coinage of silver.
"With the addition of silver to the vol
ume of money everything in America
would take on new face; labor and in
dustry 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 mar
kets in South America, Asia, and Europe
and American bottoms would not be long
in capturing 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 Il
plentiful supply of means, have. been
beaten. The American people are now
thoroughly aroused and educated on the
power and use of money and made des
perate 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 Republic
can party can force protection tariff as
the main issue III the coming Presidential
campaign, but if free silver dominates
the American mind and carries at the
polls it will bring about change in Eng
land that will be ruinous from its sud.
denness ard 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 single gold to n complete
bimetallic standard.
at is evident that the Democratic
party will not renominate man who
holds to President Cleveland's ideas on
money, and the only hope for a continue
ton of Mr.. Cleveands financial policy
will be in the success of the Republicans
in the next election. p E2sj liz EBS8R e
1.-The success Of free coinage will bring
down the rate of interest on money, and
cause an immediate rise in the price of all
commodities. When silver becomes pri-
mary money the American mines will
pour their products into the mint, and a
new area similar to that procured by the
issue of greenbacks during the civil war
will begin. Gold will leave the banks
and enter into competition with silver in
the avenues of trade, and the manufacto-
ries 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 if the Republican party
can be held much longer in check by
sound money statesmen, as its adherents
are divided by powerful factions. The
Democratic party is also breaking up un-
der the weight of the free silver agitation
1t matters not to Great Britain which
party succeeds if the gold standard is
maintained, but either of the gold parties
or new party which goes into power
pledged to free coinage will be inimical
and prejudical to English manufactures
and trade. ~
The American people cling with won
derful tenacity to party organizations.
but financial embarrassment and business
stagnation has become too severe for their
patience, and they are ready for any
change that promises relief They are
becoming convinced that it cannot be
found in the protection theory, as that
has been tried, and they are massing now
on free silver. When that issue comes
fairly before the American people, Eng
land Will regret her apathy and adherence
10 the single gold standard" J42.a.a