The daily gazette., 1878-02-02
!, The Silver Triumph.
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Wbsisver Ahxy " the views of hndt
vlduals.. as to the theories Of finance,
tpere can ~ no doubt lassIe the alttade
dfCongress, aud there ought TO be as
little qoestion concsrning the wishes Of a.
majority, Of the people, The meaning of
tbs votes IN the House and Senate on
the Matthews resolutions, does not re-
LQ,lire skin TO translate, and those who
are charged with executive duty will
commit grave error ifthey persist In a
policy which people, Through q two-third
vote In both Houses Of Congress, have
unequivocally condemned IL is not
necessary ut this time To examine into
the ethics Of the question; the battle has
been fought and The relative strength Of
the combatants has been ascertsined,
The twenty-five Senators and the sew
enty-nih6 Representative who voted
for gold may be sbstractly right, while
the forty-three Senators and one hundred
and eighty -seven Representatives who
voted for silver may be abstracly wrong;
but, pfactscxIly, therels no escape from
the logic Of the situation, aud the advo-
Gates d The single gold standard may Rs
well acknowledge that they are defeated
From the decisions of the two-thirds ma
jorities In Congress, there h no appeal
and they read the signs. VI the times to
fittle purpose who do not detect In the
Irecent financial votes of Congress the
Expression Of an infexible popular de-
Termination. The people have had
enough of the syndicate system Of finance
THE policy iiaueufated by Hugh McCdl.
lochs and steadily prosecuted by every
Secretary Of the Treasury down to the
present moment, has finally produced q
reaction. The plan of subordinatine
leyery consideration TO the t'maintenance
Iof the public credit,r and sacrificing
every interest to the security OF the bond.
lholder, has wmaintained the public
lcredit" at the cost OF universal private
bankruptcy, and has "sec1red the bond,
holder" by destrbying everybody else
The coterte OF bankers and brokers who
have managed or directed the financial
affairs Of the country since McCElloch'
time have In the insanity OF their greed
killed the goose that laid tire golden
egg. Too, greedy 70 walt for twent.
years Of peaceful recuPcration TO do tiei
work for them,' they have tried to do |
| IN ten years by force or by stealth. The
result lathe votes oil the Matthews reso
luton, aa He -if-f a4ff. 81 rBit1'a
| This Is but one step' II the money
kings are wise, In time they will heed th
admonition, and refrain from provoking
lany more stepsY In the same ydirection
From silver TO paper is not q long stride
and from paper. TO reputation is a YER
short one. We believe 1t ID In the pow
or of the New York money kings, b
Iorganizing ...reslstaDce ITO the willis
the people, IN, some form or other, I
Iprovoke as decisive o vote In favor 6
paper imitation year hence as the,
haxe already provoked in favor of chea
silver coin, and, IL they should still
Ipersist, the next acc Of popular reprisa
would take the form OF Reputation
either by payment OF the bonds In pa
per money, or utter refusal 10 pa
them in any money at all. The bank
! undoubtedly have the right 10 make: o.
their contractson a gold basis, ~ the!
threaten 70 do. But there are som
rights which II is not always polite
/. exercise---as, for exam pie, the right {
! suicide or the right 70 tear up or thro'
away what money you may happen I
have about you. II the banks asset
, that right, Congress will probably trum
their trick by asserting right, inheref
, In itself, 10 abolish the banks, tax
away the charters under which they
business, and, perhaps, II driven to. e,
tremes, repudiate the public securitie
in which they hold their inyeste
1 ar,tf ..l Il
~ sats, ssss sss sss gSs'lsls sts r I Essq
] Tween the people whom Congress repre-
lsents and the oiigarehy Of money, whis
lis represented By the Syndicate aud job
fSherman, TO avoid these deplorabl
. results it is necessary for the oligarchy |
= come down gracefully, accept the situ
ton calmly, and. failing TO acoomplls
all the objects Of their greed put up wit
what they can accomplish as the ne,
l best thing. The first great need Of ii
: country is that business meH should has
IconfiGence in each other, and this ca
lnevsr happen SO long as the people hay
2 no confidence In the good faith of Il
financial administration of the Cover
ment, and no respect for the honor an
Integrity of the head thereof job
fisherman may indeed accommodate hin
Iself to the tarn of affairs, for that Is o
, Accomplishment in,which he. has lor
been au fat. But nobody will have az
Iconfidence In him, and the whole cou
I Itry will suspect that, while ostensib
lcarrying out the will Of the people as 9,
pressed through Congress, he Is secret
Iconspiring with the money sharks to 9
up q new syndicate or some other schen
lfor his own aggrandizement. To-d'
d there is no man IN the United States wi
is hated by so many, and liked ~ so fa'
in whom so many men recognize apubl
enemy, and so few claim friend
short, no man whose life Ia held to
such national curse, az John Sherma
~ 1t is, therefore, clear that he cannot a.
minister the Treasury In way calcul
ted TO promote public confidence. II
stay there will operate as standil
grievance IN the popular mind again
the Administration OF Mr. Hayes,
constant menace to the welfare OF &
. people, and an ever-present insult G
theif dignity and self.respeet. No Pre-
2 dent was ever in q worse position to de
- the popular will and, culiously enoug
no President was ever in better positi
saj to gain strength by yielding to the peoI
ia than Mr.. Hayes Is. These facts ha
g been abundantly demonstrated BY t
events of the past year, and We ha
, reason to believe that Mr. Hayes,
dealing with the financial question, W