Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-03-26
Silver Sentiment in England.

by international agreeinent-England being
the wagon-proposed by the tribe of currency
fakirs of which Mckinley is the nominal heac
natl Enquirer of recent date That paper thinks
the date of such an agreement will be unde
the condition of England becoming sponsor fol
it, whenever the regions which people who cal
him ''Mr. SATAN designate "Hades, J" is frozen
over.
1t is encouraging, however, to note that there
is a considerable and intelligent class of En-
glishmen who look upon the restoration o
bimetalism with pronounced favor One of the
most eminent of these, L. j. Farraday in al
interesting article in the March number of the
National Review, the leading poltico economic
magazine in London, seems to think that
great portion of the blame for the presen
ostracism OF silver is due entirely to the people
of the United States in voting to remain undel
single gold standard. Mr.. Farraday take:
the view that the United States should lead il
bringing about international bimetallism, al
though, unlike Lyman Gage, Cleveland and
Mckinley, he does not advise as a first step the
substitution of bank notes for greenbacks and
silver certificates. f'When the new congress, y
he says, "settles down to the serious considera
ton of the proposals for the redemption of the
greenbacks and silver notes by means of en-
larged issues of bank notes based on office
furniture and other bank assets, the sentiment
in favor of the precious metal which, jointly
with gold, has promoted the trade of the world
and the spread of civilization for many centur-
les, will probably grow in the United States
and even within the sacred precincts of LON.
bard street"
Mr.. Farraday has made a far cry so far as 1
bme.alic invasion of Lombard street is con
cerned, but his statement with reference to the
ability of England, the United States and Indie
by cooperation to restore silver to its pristine
co-equality with gold, as circulating medium,
which he asserts in another place in his article
is not altogether visionary. For this reason
he says, 81 should have rejoced i'll the victory
of Mr. Bryan and the free coinage plank, not
withstanding the windy talk about probable
5o-cent dollar during campaign in which the
only weapons used OIL one side were epthet:
and adiectives. l made it my business to i'll
uure from merchants most familiar with the
working of the exchanges on both sides of the
currency controversy, and did not find one who
believed that the free coinage Of silver would
have involved serious or more than very
temporary depreciation of the American dollar.
Moreover, even Mr.. Gladstone declared i'll 1898
that his government was waiting for the United
States to do something
"The reopening of the Indian mints, which
would have followed the adoption of free
coinage by the United States, would have been
decisively powerful support to the stability of
the American exchange. The support of
Holland, an Eastern commercial power like
England, be it remembered has all along been
assured; France likewise, is eager to develop
her Eastern possessions, and has already at
tempted TO introduce silver coinage of her
own there; and the future Of Spain, another
Eastern power, is not matter Of Indifference
just now to the French Investor. Germany's
cooperation, at least i'll some limited form, has
been definitely promised"
Mr.. Farraday's conception, however, of the
willingness of England to accede to bimstalism
only shows how an intelligent pubcst can be
misled as to the intentions and inclinatlons of
his government While it is encouraging to
note that there is a respectable number of in
huential thinkers in England who favor the
restoration of silver, the fact remains that that
nation will never recede from gold standard
until forced by the United States in opening its
minis to the free and unlimited coinage of
silver at the present ratio.
ROardOf T,ade Crusade.