The Daily Texarkanian., 1897-04-08
GOLD APPRECIATION,

All last summer LneIe was ul-
stinted abuse Of the men who sup
ported Mr.. Bryan, on the ground
that they were dishonest and repu-
diationists. This was not confined
to our own country; every English
newspaper, in the interest of the
gold power, accepted the New York
estimate, but r. E Powell wee.
president of the British Bmetalic
League, wrote to the London Econ
omist his views on the matter and
an extract from that letter is good
reading even now;
AS between the United States
and ourselves, we have two nations
confronting one another, in the
clear aud prominent relation OF
debtor and creditor 0or they are
our largest debtor and we are their
largest credito), and over a period
of more than twenty years-no In
considerable chapter in the com.
Imcrcial life Of progressive nations
| in progressive aPe-the value Of
the money measuring their mass Of
debts to us has steadily grown to
nearly double It's former figure, and
threatens, with the confirmation
| and extension Of the gold standard,
to groow still more, II seems In.
credible that Englishmen should
lecture the United States In sorrow
and anger from the creditors
standpoint, and not even see that
the facts Of the case turn their arr
Ipumont dead against themselves,
The English nation has no wish to
be dishonest, any more than the
American nation, If Englishmcn
as a whole saw, as their advisers
might make them see, what heavy
and grcyious additional burden this
unforeseen and unintended appreci.
alton Of the money measure has
laid upon their debtor kinsmen and
rivals, they wouldsurelN asa whole,
echo Arthur Balfour's indignant
protest against the doctrine which
/ Mr. Gladstone ndSir William IIar.
court, with the approval Of some
other public men, were not asham"
ed to utter m the House Of Com
mons that the appreciation Of
gold was welcome TO England as a
creditor nation,
It is true that in The last twenty
years the value Of money measur-
ing our mass Of debt to Great Brit
ain has grown to nearly double Its
former figure Indeed, measured
.by commodities, It has grown to
more than double its former figure,
| II is not strange that English, In
! the natural se0shness Of human
nature should want to continue
that but when we eometoour own
country that same gold power In
the eastern states is more intense
In It's bitterness and dishonesty
than the English, because Its at
torney will prove by demonstration
that gold Is not appreciated at all
! In value, and that the fall Of every
thing else except gold is due to
natural causes which are easily cX.
planned, That shows mwhat grasp
production Is struggling now and
what little hope there Is Of any re-
lIeE
In the House Of Commons In 1909
Mr. Gladstone buntIy based his op-
position TO the international none
tary conference on Eugland'g ayow.
ed seldshucss and dishonest interest
.Iu the gold standard But our
Igold standard men Of the East not
only ayow that but take the often
sIye, and lusIst that while popua
tIon has doubled, It has been per
feelly natural for the products Of
the earth aud the earth Itself &c
shrink bOpcr cent. In value, aot
that men who would atop the at-
cursed upolJatIon are esseutiallydIs
|honeeE=pine Bluff Commercial