The herald., 1897-07-04
Great BRITAIN. The COMMERCIAL center

Great Britain. The commercial center
having been conceded to them, the Lon
don bankers caused the gold standard to
be forced upon the world, and as COM
mon gold coinage would defeat their
purposes they based the measure OF
value upon the weight and fineness OF
the metal, instead of upon that which
might be stamped upon the COIN The
device was cunning one, but 1T has
been made to work successfully, and to
the general impoverishment of nations
other than Great Britain.
AS in our trade with the countries of
the western hemisphere the balances
have to be adjusted and paid in London,
which is an expense and hardship not
only to us, but to all the American
countries, the Pan-American congress,
which assembled in Washington at the
beginning of President Harrison's ad-
ministration, took into considera-
ton the subject of a common coin
age for use among American ma
tions. No other plan was agreed on,
and since that time consideration of
the subject seems to have been dropped,
and so far as recent indica tions are con-
cerned it seems to have BEEN forgotten.
1t is subject, however of no incon-
siderable consequence. The opposition
goldites of this country, pressed on
ward by influences from the London
bankers, as common coinage for
American nations necessarily meant
that of silver, as it Is produced from the
snow-capped mountains OF Alaska and
British America to the strait of Magel-
Ian. 1t would seriously interfere with
the monopoly enjoyed by the London
American countries.
More than this, it would Interfere with
British trade in the American continent
as it would tend to transfer it to the
United States. Why our people have
sought to extend trade with Europe and
have slept with regard to that with
American nations is incomprehensible
except upon the theory that our people
have been hypnotized by English in
fiuences. The best trade for both par
ties is that between nations whose pro-
ductions are dissimilar. European ma
tionls produce nothing of consequence
impracticable of production in the
United States, but the Central and
South American states produce much
that we need, and, on the other hand,
we produce many things which are es-
sential to them Between such coun-
tries reciprocal trade relat ations need not
be forced by treaties; they come about
naturally and through the influence Of
conditions. A common coinage or cir
culating medium would immensely pro-
mote trade through the facilities it
would afford It would overcome the
prejudices, and result in the enrichment
of all parties.
1t would also tend to deprive London
of the monopoly Of being the worlds
COIliHcNCldl CcntCI Oy CICd oil
American clearing house for the conn
merce between American states. On
account Of her superiority in popular re-
sources and wealth the American COM
mercial center would inevitably be To-
Gated in the United States Europe
acquires more riches from the American
continent and adjacent islands than
from all the rest of the world. Good
sense suggests that the wealth produced
on this continent should be kept at
home. The United States should cul-
tivate kindly relations and trade with
her continental neighbora, and adopt
such practices as will give strength both
to herself and them.
The theory Of an international circuia-
ing medium has beepexperimented with
in limited way by THE Latin union of
Europe, and 1t has proved to be prac-
ticable and convenient.