The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-10-22
SILVER SPRAY

80
Lining Up Tor Gold" was the caption
10 an article seen in a contemporary,
and We thought how badly the gold
standard system needed the lining
Perhaps, if they could only see it that
way, a silver lining might be the most
effcacious.
The London bankers, in a meeting re-
Gently, adopted, unanimously, a reso-
luton to the effect that they entirely
disapproved of the Bank of England
agreeing to exercise the option, permit
ted by the act of 1884, of holding one
fifth or any other proportion whatever
of silver as a reserve against the circu-
lation of the Bank of England notes.
Of course they protest. They have been
doing that, and pretty successfully, toe,
for some years. The bankers of London
have been consistently opposed to all
the interests of the whole people, uB-
less it might be some interest of which |
they themselves had a way of securing
the major portion of the profits. The
trades unions of England are without
exception pledged to the reconciliation
Of silver. The people want it. Many of
the peoples representatives in parlia-
ment are advocating it, Isn't it about
time the English people had something
without having to get the consent of
the London bankers to be allowed to
secure it?
But, however that may be, one-tfth
Of the reserve of the Bank of England
is not very much of a contribution on
England's part toward international BIZ |
metailism. If the monetary commits
sion is to be satisfied with such sops
as this they had better in the begin
ming have stayed at home. One-ffth
Of the reserve held by the Bank of Eng
land in silver while the other four-ifths !
is held in gold is not bimetallism, nor
does it approach it; nor, so far as we
can sec, does it even hint at POSSIBLE |
ity that the British government or the |
Bank Of England will ever do anything
further toward the placing of silver in |
the markets Of the world as a money
metal. If it is thought that a sop of this !
kind will lessen the intensity of the |
campaign in the United States for gen
uine bimetallism, silver on an equal |
footing with gold, and Independently |
If other nations won't join US, we may
conclude that the caliber of the Ameri. |
can people has been woefully mistaken /
by our brethren across the water.
What we contend for is the prosperity
Of the people, but the prosperity wants !
some assurance of permanency. Some
thing of prosperity has come to us OF /
late from the failure of crops abroad
and the success of our home crops. For
the present gold is tending toward this
side of the Atlantic. Prosperity has not
struck us yet very hard, but the i'm |
provement on what has been for some |
years is material. But consider the
slender foundation on which it rests. !
Suppose that next year that it was our
crops that failed, and that everything
was in smiling way on the Russian
plains and the Argentine fields, where
would the gold balance be? SilYerites
are not apt to losesight of the real ques-
ton, but our friends of the gold stripe 4!
may be likely to be deluded into feel
ing of security. For we remember that
goldites as well as silverites were a little /
while ago elamoring for a change in /
our currency system This very fact /
shows the inconsistency observed in
certain quarters of cTediting 10 the gold |
standard forces credit for the slight
'betteFmeDt we have seen. An hands
year ago wanted a change Gold-stand- !
ard advocates wanted their leaky sys-
tenn mended, bank notes substituted /
for gTeenbacks. In fact, when the sad
condition was seen on every side they
must advocate some sort Of a change. /
Now, with the lull in the storm. they
have taken assurance. False pilots |
they little know the waters in which /
they sail. Bimetaliists stood for a !
radical change that would affect the I
root Of the matter. Bimetallists stood
on the weil-known facts Of history. and !
prophesied that no permanent inn i
provement could come under eRy geld /
standard regime. That's their position /
to-day Horace BOies and others that |
are carried with every current, weather
cocks blown by every wind, can re-
puaiate this stand. but no other position
is logical OF tenabla.