New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-12
CONSPTRING no HELP THE VEST.

CONSPTRING no HELP THE VEST
1t is melancholy to learn that the President Is
engaged in a conspiracy lie, with the Secre-
tary of the Treasury, the American Bankers
Association, and the leading newspapers OF
Eastern cities. have cOnspired. The object OF
this rather formidable combination is to IN
"crease the value and purchasing power of
funded debts and fixed incomes, through the
Suppression of general values by the demoneti-
1Lation of silver or the suspension of silver coin
cage" It might have been expected that the
leading newspapers and American bankers
would engage in such nelarious conspiracy.
for as all know, they are thoroughly bad. Bat
it is exceedingly painful TO hear that the Pres
ident of the United States, elected By Southern
votes, and tine Secretary OF the Treasury chosen
by him, have conspircd to initiate debts and to
make values shrink.
If it were possible to obtain the unprecedented
attention of those who are dcnOuucn& this
awful conspiracy in petitions TO Congress, It
might be said to them that the depression Of
values which they fear has already come, not in
consequence of characterization of silver, but in
part through fear OF characterization Of gold. 1t
is doubtful whether the general level ol prices
has ever been lower than within the past SIX
months. The small recovery which has taken
place of late is largely due to a belief thGt the
denomination Of gold will be prevented BY the
suspension OF silver coinage. Bat there Is
reason to fear that lower prices than ever VII
vail, if it comes to be the general belief that
Congress will do nothing. The precise truth IS
that the persons vino own 5000, 100000 in
gold, more or less are not now disposed to part
with it for property of any sort, or to invest it
in industrial enterprises, or to loan it on orhi-
nary terms, because they believe that ii may
soon be driven out Of general use rs money,
and made merchandise, by the continuance Of
silver coinage This prevailing disposition has
done much to create a great depression OF
values, and Il consequent increase IN the yaiue
and purchasing power of funded debts and
fixed Incomes
Incredible as it may seem TO Western petit
TONERS, we are engaged in a conspiracy TO pre-
vent further depression and to restore values
This it is hoped to do by putting an end to the
fear that gold will be driven out of use as
money. Nobody imagines that the silver will
be forced ont OF any uSG4thc people may have Tor
it. There is no danger that it will 90 abroad ;
the foreign demand is for gold, and the danger
is that, if we cease to Use the metal as money.
1T may be sent to other countries where il Is
more desired. There is no other way yet dis
covered to prevent this disuse Of gold than the
suspension of silver coinage, 50 that foreign
nations may be impclled to join with the United
States in some agreement as 10 the coinage
The Western people ought to be profoundly
grateful to the President for taking their part
in this matter, and they would, if they knew
how the fear of gold decentralization had
affected the price of wheat and hogs, OF corn
and cotton, within the past year.