Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1900-01-02
TUE GQeG's;
wa 81 81 4
elE@GlI!,'S'|
International BimetalIisrn.

Inc Government has arranged for
the payment of n part of the national
debt in order 10 relieve the money
stringency. The proposal TO buy up
$50,000,000 of outstanding bonds. sbus
putting that much more money in cir
culation, if not confession that under
our present currency system TIVE Will
not say currency laws, as we have no
law on the subject which any states
man is wise enough tc define), indeed
is 1t not 4 frank ayowal that the com
mercial interests of this country are
continually menaced for lack of Sufft
cient funds with which to do business:
In other words. does 1t not vindieate
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, it 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 McKinr
ley himself. the strictly gold standard
population Of America consists OF II. L.
Godkin and Carl Schurz, one of whom
has just voluntarily retired from act
i've participation in affairs. and the
other of whom possesses mind So
kaleidoscope that there is no telling
where he Will stand this time next year.
If Mckinley We're sincere, If his party
followers were in earnest In the pre-
tension that il desires bimetallism I'M
der international agreement, now is
the time such an agreement could be
forced with comparatively little DIM
Guilty. During the fiscal year ending
June SO last our exports of manufac-
lures were greater than our exports or
breadstuffs. We advanced to the first
| rank as a manufacturing nation, cons
peting with the 'pauper-pa.1 labor.of
Europe" and demonstrating that activ-
! ity IN t t....e dAnAn.a. - ~"i upon high.
tariffs but upon superiority of ws----
manshlp and the adaptabillty Of goods
to the uses of any people. This is hard
on the Dingley law. to be sure, but the
trade balance it gives us proves be-
yond question that we are masters OF
the situation when it comes to dictat-
ing monetary standard.
And this is not ALL England Is to
day in desperate straits for gold, WIS
in desperate straits before the mines
at johannesburg were shut down A
usual source of supply amounting To
$100,000,00 a year is cut off and the
Bank of England has been for weeks
laboring zealously in every possible
way to start a gold movement from
this side. But even that tremendous
financial giant cannot overcome natur-
al law. With expectations Of Ameri-
can manufactures amounting to ST.
100000 a 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
tiers.
A German statesman of front rank,
as quoted by New York daily papers,
said positively that unless the agrarlan
element of his country permitted a
broader and more liberal policy of In
ternational trade. the Empire would
have to abandon the gold standard. III
is well known that European powers
Of less influence, like Austria, Italy.
Spain and the Netherlands, would wei
come bimetallism If it were made gen
eral. France and Russia are the only
two nations in n position to hold out
should a commission like that which
Senator Wolcott headed in 1897 gu
abroad as a dictator OF terms and not
as n solicitor of aims.
If the Fifty-sixth Congress has the.
good of the people at heart. it will take
advantage of the situation and bring
all Europe to terms. The time was
never as propitious before, and it may
never be so propitious again.