The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1899-08-24
aor ENOUGH TO 60 AROUND.
when Geld In Pienty An rails ceumtry
These ~ a Financial Droaxhs
I'm England.

We have already referred 10 the fact
That the foreign credit Of Mexico has
been In nowise impaired by the fact
that II has the silver instead of the
gold standard. The success OF that
country in having Its public deb, fund
I'd at low rate OF interest by the lead.
Ing bankers OF the world has suggested
TO some observers that this cousolida-
ton Of the Mexican debt really means
that that country win before long
change from the silver standard and
adopt the gold basis.
We shall not dispute this prediction,
Tor we are perfectly well aware that
the money powcr-and by that we
mean the half dozen great banks OF
the world which own or control the
gold supply--is able TO sway nations.
rhlE has bsrn demonstrated In the
sase Of the United States, Austria, ia
pan and India, and what has been done
in those instances eau just ~ easily
be carried out In Mexico. Therefore,
we shall not be surprised at any mo
ment to hear that our neighbor re-
public il making arrangements 10 BE-
cure gold reserve for the purpose Of
putting In operation the single gold
standard. II the international bankers
1esire this result, II will be accom-.
plishcd.
Meanwhile, since the matter hiss
been made of timely interest by our
london dispatches. We cannot refrain
from calling attention 10 the financial
unrest which IL said to exist in London.
The dispatches referred 10 said that
business In financial circles IL consid.
'rably checked owing to certain anx.
iety Us to the future" This anxiety Is
based on the scarcity of money in the
worlds greatest money center. This
scarcity Is OF 80 grave n character that
rumors are current OF impending
financial difficulties" In view OF these
difficulties the staiist. of London, Says
that the rate of the Bank Of England
has been raised from three In three and
onc-hnlf, with a possibility that II will
be still further advanced, even as high
as five per cent.
This step. II IL declared, was prac-
iically forced upon the bank by the
demand for gold from France, the abil-
ity of japan TO take gold from London
u she wants II. and the inability OF the
Bank OF England TO obtain gold abroad
20 q greater extent than g. necessary
10 meet interior requirements. The
bank rate, as our readers know, 10 raised
not only to prevent gold exports, but
To invite gold from abroad. With this
explanation. Il Is not necessary TO say
that the apprehension" In London
and the Impending financial Difficult.
ties" are the result Of the scarcity OF
gold.
II Il curious how hard these financial
troubles follow upon the heels OF the
adoption of the gold standard in this
country and In India. We are scarcely
permitted to enjoy n quiet hour with
our trade balance and our new-found
prosperity than these Impending
fnuncin. difficulties" are thrust under
our noses. Long. long ago, one heard
bimetallists remarking that there is
not enough gold IN the world for all
the nations 10 do business on pros
porous bnsis nj one and the same time
Hence II is that when we have an
abundance of gold in this country
there is r financial drought In England
or some other foreign nation, and
when there is plenty there, we have a
drain here.
But these himeiallists! What vexa.
tious creatures they are, already
watching events and ever ready 10 cry
out: Eve told you so!"--Atlanta Con.
Etitutinn.