Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1900-01-03
111E.eEeelE$
GEge!l6t9I
International Bimetalli.m.


The Government has arranged for
the payment Of part of the national
debt in order to relieve the money
stringency. The proposal to buy up
s$50,0O0.0OO of outstanding bonds, thus
putting that much more money In cir
culati0n, IL not confession that under
our present currency system 1--WE Will
not say currency laws, as we have no
law on the subject which any states
man is wise enough to define), indeed
is 1t not frank avowal that the COM
mercial interests Of this country are
continually menaced for lack of sum-
cient funds with which to do business?
In other words. does 1t not vindicate
the cumulative theory and those
statesmen of broad and liberal views,
including George Hoar. James g.
Blaine, James A. Garfield and others,
who SO long and SO tenaciously held
out for bimetallism?
The New York News does not at this
period. 1t says, propose to discuss gem
orally and deliberately the benefits Of
double standard without regard to
the action Of any other nation" II
there is anything in party platforms,
however, or in the recent utterances OF
public men. Including William Mcxin-
ley himself, the strictly gold standard
population of America consists Of 3. u.
Godkin and Carl Schurz, one Of whom
has just voluntarily retired from act
i've participation in affairs, and the
other of whom possesses q mind 30
kaleidoscope that there is no telling
where he will stand this time next year.
II Mckinley We're sincere, II his party
followers were in earnest in the pre-
tension that 1t desires bimetallism UNI
der international agreement, now is
the time such m agreement could be
forced with comparatively little DIM
Guilty. During the fiscal year ending
June 80 last our exports Of manufac-
lures were greater than our exports OF
breadstuffs. We advanced to the Arst
rank as manufacturing nation, COM
petlng with the ''pauper-paid labor Of
Europe" and demonstrating that activ-
ity in trade depends not upon high
tariffs but upon superiority of work
manship md the adaptability Of goods
to the uses of any people. This is hard
on the Dingley law, to be sure, hut the
trade balance it gives us proves be-
yond question that we are masters OF
the situation when 1t comes to dictat-
ing monetary standard.
And this is not all. England is to-
day in desperate straits for gold. was
in desperate straits before the mines
at johannesburg were shut down. A.
usual source Of supply amounting to
500, 100000 a year is cut on and the
Bank of England has been for weeks
laboring zealously in every possible
way to start gold movement from
this side. But even that tremendous
financial giant cannot overcome natur-
al law. With expectations Of Ameri-
can manufactures amounting to 81
GOO, 600 day, and with the crop move
ment to Europe under way. the ten
dency of gold will be to not only stay
here, but to come here from other CEN
ters.
A German statesman OF front rank,
as quoted by New York daily papers,
said positively that unless the agrarian
element of his country permitted 4
broader and more liberal policy Of In
ternational trade, the Empire would
have to abandon the gold standard. It
is we'll known that European powers
of less influence, like Austria, Italy,
Spain and the Netherlands, would well
come bimetallism il 1t were made gem
eral. France and Russia are the only
two nations In a position to hold out
should commission like that which
Senator Wolcott headed In 1897 20
abroad as a dictator of terms and not
as solicitor Of aims.
If the Fifty-sixth Congress has the
good of the people at heart, 1t will take
advantage of the situation and bring
all Europe 10 terms. The time was
never as propltious before, and 1t may
never he SO propitious again.