The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-20
THE FAILURE or THE SILVER
COMMISSION.

The telegraph stated yesterday tnat
while the Silver Commission now peregi-
mating through Europe, had received no
ogiclal information regarding the action
taken nv the English cabinet on satur-
dav last. private advices had nevertheio &c.
convinced the commissioners that me
Cabinet had dealt their mission n death
blow.
II has always seemed TO US one or the
mos; prcposterous things on carth mat
Mr.. Wolcott and his fellow commissioners
could look for any other result. Repre-
sentinc the United states OF America III
AN entirely official character, It was
foregone conclusion that the English Gov
eminent would receive them conrteousiy
and give patient consideration to what
ever they had TO say. But II was just
a. much a foregone conclusion that when
all he'd been said and done the English
Government would answer 80 their an
cestors Of old answered, nolumnus leses
Anellac mutare--, or under a liberal IN
terpretation. we propose TO hold on TO the
single gold standard.
England. by act Of Parliament, adopted
that standard in 1916. she has adhered 10
At reIigiously ever since. her citizens have
settled every transaction they have ever
had since that time by an inneXible adj
herence TO it, and the result IS that Lon
don has become the clearinghouse OF the
civilized world, enrlching Englishmen
and making England the colossal Power
that she is to-day. No one ever hears in
England or IN any Of the dominions Of
Great Britain any complaint about q
scarcity Of money. There is the greatest
abundance Of money in England, and In
all English dependencies for every bust
ness enterprise that holds out any hope
for profit And why? If what Messrs.
Bryan, Daniel and other free silver lead
ers tell us is true It could not be so, be-
cause they say that there is not enough
gold 10 operate all Of the worlds transac-
lions II gold be the only money. And this
NAV be true. But the transactions of a
people are not operated with coined
money. They are almost all operated by
transfers Of credit. Almost all OF the
transactions Of Englishmen are operated
by transfers Of credit and they are able
TO make use Of their inconceivable mass Of
credit, because every English promise 10
pay a pound means promise TO pay
gold pound containing 1lS grains of pure
gold. al the world knows this, and all
the world knows that the English Govern
ment will not. under any pressure or
temptation. change this value Of the
pound, SO that al the world accepts En-
gllsh paper payable in pounds as that
many pounds. and the English people are,
therefore. able 20 have all the money they
need, FOR any enterprise whatever, be-
cause they use credits for money, and
those credits are due TO their infexible
adherence to one standard Of value.
Any thinking man ought to have known
at the beginning that a people who have
enjoyed ad still eJoy the golden harvest
that tho English people reap from their
single gold standard would not listen 20
any proposition 10 interfere with it.
We too. have lcng had the single gold
standard. II our people would cease
threatening TO interfere with It, and
would make banking perfectly free. we
would share in Englands phenomenal
prosperity.