The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-30
WHY THE SILVER STANDARD Is
IMPOSSIBLE.

It is almost always the case that,
and the passions of men subside, one
is able to see that, in heated contro-
Versy. some of the most compelling ar
guments have been entirely overlooked.
This is notably the Sse with reference
to the battle of the standards. The
case of Mexico shows that, while all
the moral and statistical debate had
its place last year, yet, leaving that
the silver standard by any country
today havinge large commercial rela-
lions is utterly impossible. 1t is made
as impossible by the working of ma
ture and familiar trade forces as it
would be for an old-fashioned stage
coach to compete with a trolley line. A
nation shut up within itself, as Japan
formerly was and as China still is, or
a country like Mexico, up to the pres
ent time engaged mostly in internal
development and having comparative
ly little foreign trade, can settle upon
Its own standard and use it with COM
parative comfort. A country that fills
q place in the great family of nations
and buys and sells largely beyond it's
own boundaries must conform to GUS
toms and use implements that are ac-
cepted by the common consent Of all
Above everything else, a country which
has outstanding obligations in the
shape of a debt upon which interest
must be paid cannot stand the tax of
receiving its income in a cheap money
and meeting its payments with a dear
one. 1t was the stern necessity of the
revenue side that closed the Indian
minis to the free coinage of silver. 1t
is the same necessity that puts before
the Mexican government a series of
endless difficulties, unless it follows the
same course.
Even leaving debts outside the argu-
ment, it is easy to see that the en-
ployment of the silver standard by a
principal commercial nation having
immense dealings with all the others
that are on the gold basis puts it at
q, mere mechanical disadvantage that
the close competition of trade will not
bear. 1t Is like trying to engage in a
bicycle race with a brake clamped
firmly upon your wheel, and the others
running free. The fluctuations of the
exchanges whe~- two countries have
different standards, .ra ratio between
which is changing from day to day.
are stronger to compel uniform action
and policy than all other influences can
be to keep them apart. The people of
the United States, of England, Ger
many, France, Austria, Italy and Rus
STA constitute, for industrial and trade
purposes, single community. Thev
are not yet sufficiently enlightened TO
realize this in their legislation and to
throw down the barriers that waste
human effort in creating friction and
the loss that attaches to it. But
buying and selling go on freely
between them. and all are eager
competitors for the business of the
world In a contest like this the
slightest Dreponderance Of ADVANTAGE
tells tremendously. Now, if all of these
nations save one use the gold standard
IN all their transactions, so that the
par OF exchange between them Is a
fixed quantity, which the manufactur-
er. the exporter and importer, the
transportation agent and every other
individual active in trade can calculate
upon with certainty, not merely day.
but yea" or century in advance;
while that one uses q standard which.
Interpreted by the terms of the other,
varies from day to day. so that it's
dollar. as far rs foreign trade is con-
cerned, means something different with
the passage Of the hour, its industry
would be placed under conditions so
bur;lensome as 10 be practically de-
struetive. Nc great business in such
u country could possibly compete on
even terms with its rival living under
conditions that were stable.
Let the free coinage people have