TALLISM ABROAD.

Many monometallists start with the assumption that what they call the
"silver craze" is a mere fad, temporary and local; that the advocates of
bimetallism are confined chiefly to the United States, and to the western
part of it, and that, if they are thoroughly defeated at the November
election, the discussion will be at an end.

"Mistaken souls that dream of heaven."

They do not realize that, although it has not taken the same popular form,
the discussion is quite as serious in monometallic Germany and England,
and in the latter country opinion has so far advanced that both parties
agree on the enormous enhancement in the value of gold. There is now
scarcely a difference of opinion in England on this point, but there is as
to the effect. British monometallists assert that as England is a great
creditor nation, the world owing her, as estimated, $12,000,000,000, every
advance in the purchasing power of money is greatly to her advantage. In
Mr. Gladstone's last public speech on the subject he stated that fact with
great frankness, claiming that it was to England's interest that money
should remain as now in purchasing power, and that if she should abandon
the gold basis, because gold is worth far more than it was a few years
ago, the world might applaud her generosity, but it would sneer at her
wisdom.

The bimetallists of England, on the other hand, assert that the enormous
losses of traders owing to the dislocation of the par with silver-using
countries, of manufacturers by reason of the rapidly increasing
competition of the same countries, of home debtors and of many other
classes, and especially the loss to agriculture, far outweigh any gain
made by the creditors as such.

The national debts of Europe now amount in round numbers to some
$22,000,000,000. Including all other countries, the total of national
debts exceeds $26,000,000,000, and the growth for many years averaged
$500,000,000 per year. The local public debts of England and Canada are
set at $1,735,000,000. According to the best authorities, the mortgage
indebtedness of the principal European nations is as follows:

For Great Britain and Ireland........ $8,000,000,000
For Germany.......................... 8,500,000,000
For France........................... 3,850,000,000
For Russia........................... 3,250,000,000
For Austria.......................... 1,500,000,000
For Italy...............