The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1897-08-19


that gold monometallim is a bad
thing, and that bimetallisn a good
thing, but it claims that bimetallism
can only be restored by internatiou-
al action. | shall not dwell long on
this aspect of the question. 1t is
sufficient to say that the Republican
party limits onr negotiation to the
leading commercial nations, Eng
land, France, and Germany. While
the agricultural and manufacturing
classes of those countries are friend
ly to bimetallism, and while parlia-
mentary resolutions favoring binet-
allism have been passed in each,
France and Germany both declare
that they will not act without the
cooperation of England, and Eng
land, through the ministry of both
her political parties, has declared
her unalterable purpose to adhear to
the gold standard.
ENGLAND's CONTROL OF GOLD.
The reason is apparent. The
great advantage of gold monometal-
lism has given England the control
of the credits of the world. Her
people now own in bonds of other
countries an amount aggregating
many times the total gold stock of
the world. England is built up.
Her narrow limits will not permit
much increase of population. Her
local property can not be much in
creased in value. By her manufact-
ures and her extended commerce she
has invaded every country with her
forces ofindustry and enterprise, and
she has accumulated the gold of the
world, and she now loans it over
again to the countries from which
she has made profit. Her wealth
consists mainly in credits, and the
creditor class has become the do
minating power. England has al
ways been a class-governed country.
The land-owning class, once so con-
trolling, gave way to the manufact-
uring class under the leadership OF
Golden, and the corn laws prostrat-
ed the agricultural interests. The
manufacturing class has now yielded
to the creditor or banking class,
which to-day dominates the councils
of England, fixes her policies, anc
enters her DEGREES.
The friends of bimetallism stood
expectant when Balfour came into
power. They now realize that shack
les have been imposed upon his
limls, and that he is powerless t,
aid the cause which he so Brilliant,
advocated. What arguments can W,
use to abate England's purpose
That the amount of gold in th,
world is too limited for the world
business? Her answer is that he
people own almost all the gold il
the world; that they have enough ant
plethora and out of their abund
ance loan it to other nations on bond
and mortgages, Will you say tha
the appreciation of gold has stimuli
ated the production of silver-stand
ard countries, and that their competi
ton has lowered the gold price Q
all farm products? Her answer vii
be that she raises but little of these
that she buys, and that the cheape
she buys the better.
Should we point to the land-own
ing class in England the burdens {
which have become almost intolel
; able, her answer will be that som
interests must suffer in pursuing
great national policy, and that tt
English government will stand
heretofore for the interest of tt
governing class of the country, tt
class which subordinates every sui
iect of domestic and economic pole
to the desire of maintaining col
stantantly increasing control ov'
the products of labor througho
the world by a system which max
her controlling power in peace al
u war, partner without risk in all e
y terprises, and the absorber of ii
q profit of world wide production.
To this policy of enlightened Sc
o fshness no man who knows the CO
. trolling motives of both nations al
J individuals can oppose rational o
= lection to English policy on En-
I lish soil. We object to an Engli
/ policy on American soil.
AMERICAN POLICY.
England's wealth consists in go
- : our wealth consists in property a
products. England is credit
! nation; the United States is deb
:, nation. England is interested
! = having money dear and produ
cheap. We rely on goods rri
20 for our products in order to pay {
u foreign debts. England propo
to pursue a policy which will
- crease the value of the gold that
owns. Ought not we to purs
: policy which will in ere,
- ! the value of property we o
~ y and of the products which weexpc
- ~ Do the imitators of the English |