Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1897-09-03
KILLING INTERNATIONA
BIMETALLISM

The second act in the killing Of all
prospects of international blmetallism is
we'll under way; the lines are being laid
for giving it its final stab, if need be, in
the house of its professed friends
When Mr.. Mckinley sent the Wolcott
bimetallic commission abroad there were
few in America who did not regard it as
foredoomed to failure. Among European
bimetallists the appointment of this
commission was taken as an earnest Of
Mr.. McKinley's purpose to work for the
restoration Of blmetallism by internation-
al agreement, and was received with q
measure of elation. But American
bimetallists, who were well aware of
what Mr.. Mckinley stood for during the
last campaign, who were not blind to the
forces that rallied around his banner.
who could not Danish from their minds
the sources from whence came the great
contributions to the Mckinley campaign
fund, which made it possible to carry on
not TO say political debauchery, never
before known, and who could not dis
regard what such contributors expected
in return for their contributions looked
upon the appointment of the Woicott
ommlssion as mere perfunctory carry
ing out Of a campaign pledge made to
secure the votes of freesilver republicans.
Moreover. they did not believe that the
British government, subseryient in great
degree to the money lenders of the City
of London, would lend us any helping
metal]ists IN America did not look for
the Wolcott commission to accomplish
anything; first. because they were con-
vinced that it was not wanted to accom-
pllsh anything, and second because they
did not believe the British government
would give US any help in tightening our
financial bondage to the money lenders
of London.
1t has since been made very apparent
by Mr.. Mckinley that he did not want
his blmetallic commission to accomplish
anything. He made this apparent by
asking congress for authority to appoint
currency commission to formulate
plans for establishing our currency
permanently on the gold basis before the
Wolcott commission had finished its
mission or reported on the feasibility Of
securing European cooperation in re-.
establishing blmetallism. But 1t appears
that the British government is, or was
ready, before the dupllcity of our govern
ment was made apparent to 60 u very
considerable way to assist in the restora-
tion of bmetalllsm. It's not, of course.
from any desire to assist the debtor
nations of the world in tightening their
tribute to the money lenders Of London
that the British government IS ready 10
aid in restoring blmetallism, but because
the interests OF the cotton manufacturers
Of Lancashire, the jute manufacturers
of Dundee, the tin miners of Cornwall
and the land owners of Great Britain, in
bimetallism outweigh the interests OF the
money lenders Of London in gold
monometallism. Besides, the apprecia-
tion Of gold has reached point where a
further appreciation means general
bankruptcy of debtors and pairing down
of debts The debtor nations of the
world cannot stand further increase
in the tribute laid upon them by the
general adoption OF gold monometallism
by the nations of the western world, and
so self.interest councils the money lenders
of London to call halt.
The appreciation of gold or fall IN
prices of staple products during the last
twenty-five years has had the effect of
doubling the quantity of produce the
debtor nations of the world must send TO
England in settlement of interest charges.
The annual return. as interest and ship
profits in the foreign trade, on British
capital loaned to foreigners is about
$500, ,OO0,0 900, and the payment of this
Indebtedness takes quantity of produce
LudG WOulu nave UcCu "OlGu, hG pllCCo
ruling quarter o. a century ago, full
81. 400, 100000. If prices had not fallen,
the arbitrary doubling of the debts due
to the money lenders Of Great Britain,
would have put no greater burden on
the debtor nations than has the tamper-
ing with the worlds money that has
resulted in causing gold to appreciate
and cutting prices in half. So the
general adoption of the gold standard by
the nations of the western world has
been great thing for the money lenders
of London. 1t has enriched them i'm
Why then should the British govern
ment be willing to aid in tearing down
this system which has profited the
creditor classes of Great Britain so
greatly? Simply because this system
has forced fall in agricultural prices
that has bankrupted the British farmer
and stript the powerful land.owning
aristocracy Of great part of their rents;