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England's "clutches."

England's "clutches." image
Parent Issue
Day
7
Month
October
Year
1896
Copyright
Public Domain
OCR Text

One of the favorite appeals of the advocates for free and unlimited coinage of silver is that inade to arouse prejudice ngainst the British. The cry is made, "Let us wrest our country from the elutehes of England." The mpression sought to be made is that Great Britain dictates the gold standard for this country. Of course this is a foolish and fallacious representation, for it would be to England's advantage to have the United States run on a silver basis. The surest and most effective war to put this country 'in the clutches of England would be to adopt Bryan's policy of the free and unlimited and independent coinage of silver. Such a policy would put us upon the silver Standard basis of Mexico, which is literally in the clutches of England. The Bank of London and Mexico, the strongest financial institution in Mexico, located in the city of Mexico, with a capital of $14.000,000, is practically an English bank. We are informed that about 60 per cent. of its stock is owned in London. This bank gets 10 to 15 per cent. for its loans. and pays its English stockholders dividends ranging from 25 to 41 per cent. per annum. The English eapitalist gets a very small interest on his gold dollar, but through his Mexican bank he can have his gold dollar changed into two Mexican dollars, and have these two dollars loaned at not less than 10 per cent. interest, thus getting 20 per cent. interest in Mexiean money on his gold dollar, on wliich he would have to take less than 4 or 3 per cent. in England. Mexico is truly in the clutches of England, mul if the United States werp to adopt the Mexican policy of free coinage England oould ase her gold to tremendous advantage against our people and their interests. Let us keep out of the clutches of Eugland by maintaining the gold standard and having money as good as England's. Let us not Mexicanize our country bv Mprirn's

Article

Subjects
Old News
Ann Arbor Courier