New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-28
MP RECK'lS ERROR.

II does no good to berate Mr.. Beck, rs some
do, as if he were mere agent or set OIL
spectators i'm silver mines or stocks. lie Is
doubtless as sincere and honest in his belet as
he is mistaken. One of the misfortunes OF
self-governing country-which are more than
COMPENSATED by blessings-is that honest error
or ignorance among the people may do as much
harm as could possibly be done by the selfish
ness the ambition or the cruelty OF despot
MIR. Beck fairly represents state OF pubic
oninion which still prevails in certain sections
Perhaps il is not as strong us it was, but those
VINO seek for evidences of its abatement In the
temper of the peoples representatives fail TO
find them. A canvass OF members OF CONGRESS
NV q Washington journal, it is stated, shows
that more than $50 members are opposed 10
the suspension of silver coinage, OF whom 40
are of the party which Mr.. Beck represents IN
the Senate 1t is not worth while TO say that
all these representatives, and the millions OF
voters whose opinions they naturally try 10
EXPRESS are sellishly interested in silver mining
or speculation.
The more honest their error, the more dam
perous. 1t is strange that the men OF the west
and South cannot see that the only people VINO
can measuraby protect themselves, if the
disasters come which silver coinage invites, are
the bankers and money lenders of the East who
labor to prevent disturbance or the currency
Bv far the heaviest losses would fall on the
neople of those very Western and Southern
States whose representatives are so nearly
unanimous in resisting suspension. Ihey lali
tn see that the debts of which they are think
ing, and which they insist that it is night to pay
in silver dollars, are of insignificant import
ance compared with the purchasing power OF
their prod ucts and that England's control of the
nrice of silver would put into British hands, If
we should demoneiize gold the cover to pay
this country less for everything it has to sell,
and 70 charge this country more for everything
it has to buy
1t is often said by others, as by Mr.. Beck,
that silver Is worth as much as it was in so.
In the sense in when that phrase IS ordinarily
used and meant to be understood, the state
ment is not true, and 1T is no defence oil IL 10
saw that wheat, corn, and other important
products have declined since 1870 little more
than silver They have declined in the main
for reasons which have nothing to do with the
use or disnse of silver-because OF cheaper
transportation, for instance, and the use OF
improved machinery, and the accumulation OF
capital and the low rate OF interest. These
COMPARISONS do not touch the question whether
ultimate restoration of silver to use as money
can best be promoted by suspension of coinage
! here and now, as all the ablest advocates OF
silver reconciliation have urged. To drive
gold out of the United States would not tend to
restore silver to its place in the trade OF
nations. But just the contrary effect would
follow. 1t would make this county the worlds
dunping ground for silver, so that other
nations could get rid of it at their own prices
| for our wheat and cotton, leaving us to bear by
ourselves the intoerable losses which monetary
separation and subjugation involve.