Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-11
AwORLD-wIDE FIGHT.

strides in England, the home OF the gold
STANDARD than it has in this country.
which is saying much. The low and
f1uctuating price Of silver owing to its
demonstration, has had and is having
a very disastrous effect on English in
dustries and commerce. This is con-
firmed by the report of meeting OF
Manchester cotton manufacturers to be
found in the London Financial News OF
October Is. 1t was largely attended
gathering and was presided over by Sir
William H. Houldsworth, M. P.
In his address to the meeting the hon
orable chairman said its purpose was
to demand of the government the tul-
fillment of it's pledges to establish
stable par of exchange between gold
and silver money and thereby remove
the crushing disadvantages under when
the Lancashire industries were labor
ing. He quoted from the remarks OF
the chancellor Of the exchequer to show
that such pledge had been given by
the present cabinet and then said:
He could not see any reason why mono
metallists should not join blmetaliistS III
an appeal to government BON. as ne uli-
derstood, wanted STABLE par OF e1en tbeTa
was no man in the country VINO ala hot
want it. The gold standard in TINS cou L
try was not in the question at an. Inc
principle of closing the Indian minis had
been condemned by every authority. II
was in its initiation a policy OF Despair par
Were merchants, manufacturers ana pro
ducers to sit with folded hands; especially
those connected with the lndlan trace
until the disastrous collapse happened;
which it had been stated by Sir DaNld
Barber would not be many years hence?
Now was the time to deal with the matter.
The cotton industry. was in such StaIe
and in need of remedy; but if they dld not
bestir themselves was IL at all surprising
if the people at headquarters We're luke
warm? If the agreement were not mace
now it was not unlikely that France ana
the United States would act without the
assistance of England either JOINTLY or m
dependenty of each other. Inc eHect
would be felt all over the world, and not
merely in the country in which the change
was effected.
Professor Foxwell, Of Cambridge,
sent a letter to the meeting from which
the following is an extract:
1t appears to me high time that the bus
mess men and great industrial population
Of I,anca shire Should enter into a vgor-
Gus protest against the present attitude OF
a section of the London bankers and the
London press. After some twenty-five
years of Unprecedented monetary anarchy.
from which most of the great productive
and mercantile interests in this empire
have suffered severely, the three greatest
of modern governments are at length en-
gagged in a serious effort to restore the old
sta bility of exchange. and to arrest the
unjust and artificial aggravation OF DEBTS
in gold standard countries. The contribu-
ton which Great Britain is asked 10
make to this settlement is one which,
though substantial and important in Its
IS Yet the moment the bank renews
its assent to measure to when the non
noisy and irrational, but evidently con-
certed, clamor on the part of a small
group of middemen not directly in touch
with the vital economic activities of the
empire, who assume to dictate to the gov
eminent and the bank upon what Is really
an imperial question, and claim that IL
shall be. settled. or. rather, shall remain
unsettled as may suit their supposed in
terest. The man who handles
money is not necessarily an expert on
broad questions of monetary science. any
| more than the landlords were experts on
the corn laws. The monometallist London
bankers have proved this by the part
they have played in the recent monetary
falsihed while those of the bimetallistS
have been realized with remarkable ac-
curacy There is not single positio1>of
"
maintained that the same or some other
monometallists have not subsequently, de-
MED. and this fragrant inconsistency still
characteriZeS them.
These extracts give the keynote Of
the numerous addresses which were de
livered. The following resolution Of
fered by Mr. w. r. Moss was adopted:
That in view of the injurious effects up
on the industries and trade of this coun-
try of the dislocation between gold and
silver moneys. recognized by unanimous
resolutions of the House of Commons
passed in the sessions OF 1895 and 1896, and
in view of the failure of the experiment
! Of closing the Indian minis to establish
any staple relation between the rupee and
the sovereign. this public meeting of spin
ners, manufacturers. wage earners and
shippers Of, the manufacturing districts
of the north OF England demands that the
government shall take advantage of the
overtures now being mace by the govern
| ments of France and the United States,
and so fulfill the pledges given 10 Paria-
ment and to the people Of the United King
dom, as well as to foreign nations that
they would do all in their power TO secure
| by lnterna tional agreement stable none
tary par OF exchange between gold and
! silver
Such being the feeling Of the manu-
| facturers Of England on this question
of bimetallism it need hardly be as
| serted that it is certain to become the
| paramount issue in the politics OF that
country In the policy of the empire
| the welfare and interests of English in
i dustry and English trade have ever
! been kept prominent. and if, as now
| seems evident. the wishes of the money
class have become arrayed against those
of the productive class, a contest has
| been inaugurated which will last until
the purposes Of the Manchester manu-
| facturers have been attained.