Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-10-01
COINAGE QUESTION.
THE PREDICTED EFFECT OF
FREE SILVER,
Moreton Frewen Says That If tho
United States Should Opcn Its MINIS
Silver Would Advance to tho Par
of / to 10.

L
When writing to you recently on the
currency question l pointed out the
enormous dimensions of that "unearn-
ed increment" which Great Britain har-
vests because of the fall of prices. That
very same fall which has Impoverished
her debtors is yet heaping upon the lap
of the money lender the riches OF the
universe.
This was the view expressed by MT.
Gladstone in the house of commons
after the carefully planned failure OF
the Brussels conference in 1893. Amer
lea. the great debtor nation, had decid-
ed in 1873 to start out upon that cur
rency journey which must lead to con-
traction. Was it then for England, he
asked, the country which profited most
by her mistake, to take the lead in re-
pairing that mistake? A year ago Sir
William Harcourt, Mr.. Gladstone IS
chancellor of the exchequer, confirmed
Mr.. Gladstone's views in these remark
able sentences:
Nobody who was present Will for
get the memorable speech delivered by
Mr.. Gladstone in this house on this
same question, in which he submitted
to the worlds ridicule the proposition
that this land of money lenders should
go from country to country, hat IN
hand, begging that we should be paid
ten shillings in the pound. This is prac-
tically the goal to which bimetalllsm
would lead us. OF course, we are told
that we shall receive more money. Inc
truth is that we are not paid in gold,
but in goods. 1t is out of this mer-
chandise that our people make their Nv
Ing, and now it is expected of us that we
shall go around the world begging that
we shall receive less merchandise for
our gold Can anything more ridicu-
lous be suggested? That we who have
lent hundreds, nay, thousands of mil
lions, to foreign nations shall ask them
that for this money they shall give US
less in return than we now receive.
Such is the currency policy of the
liberal party. IN this country. In ig-
norance of results to follow, our debt
ors have enmeshed themselves. They
have fallen in love with currency
system which has about doubled the
tribute they pay annually to England,
and because this is true we here who re-
cognize the great racial dangers which
are involved If we continue to sell Asia
her money metal at half price are yet
battling for bimetallism along the line
of the greatest resistance. That is to
say, the more your people are educated
the stronger to them as debtors will
the case for silver will appear. On the
other hand, as the worlds creditors, the
plea for that legislation which will
raise the level of prices is likely here in
England to continue to fall upon deaf
ears. a chain, however, is no strong
er than it's weakest link, and in this
gold chain the link that connects us
with India must involve us, for all time
to come, in the fluctuating fortunes of
the white metal. In India we collect
our entire revenue in silver rupees.
There has been no rise Of silver prices
in India, whether in the rupee price of
labor or of Indian commodities. Thus
the burden of the Indian government
In renting to England the eighteen
sterling of interest payable in
gold would have been just doubled be-
cause of the fall in the price of silver
only for the closing of the Indian minis
In 1898. Instead of revenue collection
Of 100000 rupees (ten rupees to the
sovereignty being required to pay the
home charges" of the Indian govern
ment 36O,O0O,0O0 would now be required
for the purposes of this remittance.
When Mr.. Cleveland was elected in
1892 the silver question could have been
settled, and settled by gradual proc
sss of reconciliation. Mr.. Alfred
proposal at Brussels
stands out as one of many evidences
hat the time was then ripe and the
men ready. But Mr.. Cleveland made
t known, through the subterranean
channels of diplomacy, that far from
giving any support to silver, he was
to urge on congress the re-
peal of the silver purchase clauses of
he Sherman act. Mr.. Cleveland's in
ention became known in official cir
lies in Calcutta. That this was the
Ease l learned at the time and at first
land. The government of India be-
ieved that the cessation of all silver
purchases in America would still fur
her reduce the exchange value of the
upee, and therefore, in advance of the
lending anti-silver legislation antici-
,ated from Washington, the Indian
hints were closed.
Dingleylsm at Work.