New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-07-13
REPUDIATORS TO BE COUNTED.

To-day, the House mas ucclucu, IL VIII '"1Nl"ci
the following resolution offered by MI Moli-
son
That whenever the surplus balance in the Treasury
including held FOR redemption OF United sta
notes. shall exceed the OF SlOOO0Oo0O 1t shall 10
and Is hereby the duty OF the SecrctAry oil the
Treasury to apply such excess, in not less than
$4,000 per month during the exise"cc OF any such
surplus or excess the payment of the
Indebtedness the United States payable at tbs option
OF the GOgernmcnt.
The object of the resolution is to force speedy
pavment of United States bones ornotes in silver
Probably Mr.. Morrison himself Will not deny
that hi, resolution has that object il he should
il would only prove tlat he did not know what
he was doing. The presumption is justified
that he knows perfectly well, and means to
make wal Oh the Administration on the silver
question, because the Administration failed to
contIol members from New DIRK III behalf OF
Mr.. Moirison's tmlf bill. But tins 10 mere
childish spite. BY talk III favor OF molc
radical free iade measure than Mr.. Morrison
has dared to propose III COngi ess-ln ldNOl OF
collecting " the entire revenue from duties Oh
Il few score articles the President has en-
uenchcd himself in the affection OF the radical
nee traders. getting between them and MIR.
Morrison or Mr.. CARLISLE Then he has suffered
Mr.. Moni,on', bill to fail, 80 that his lncom-
pctenoe as a leader is manifested once more.
Losing his cool Judgment, the Illinois member
now proposes to attack the President on the
silver question. just where he has most friends.
The resolution would take from the Treasury
SiOOOO,OOO III gold each month at once, iol
thcle is in the Treasury nOw, according to the
official reports, the $lOO,OOO,OOO redemption
fund and surplus of $75,l9l,l 100, besides
sos, 1876 in unavailable funds. Tie rest
luton makes no distinction between assets avail
able and not available; ii the supeIiiuOus
fractional currency is III the Treasury ut all,
it is part OF the money which must he pad out
for bonds, or else the bullion fund, which the
Secretary maintains that he Is required by
law to hold in gold must be paid out. Ethcl
the Secretary must pay bonds with silver worth
IS cents on the dollar. and in the end with sub
.idiary silver worth still les, OF he must pay
out the gold as long a. it will last, and leave
lhe 75-cent silver and the fractional silver as
tire only reserve for the redemption OF United
States notes One or the other the resolution
means and declares, he shall do.
To pay bonds with 75-ccnt silver would be
an act of financial di,hOnc>ty-Oi reputation,
IN short But to exhaust the reserve which the
Government has solCmnly pledged itself to hold
Tor the redemption Oi United States notes,
and to hold in gold would also be- financial
iii >honcsty-dstnct and naked reputation,
Those who vote for Mr. MOnisOn's resolution,
Therefore vote to Icpudiale obligations OF the
Nation as sacred a. any II can form. The
In, fhlr, At tt.u
and also whether any OF them ale Republicans.
The thco Of ihis resolution is that standard
,i!Vcr is by law us good is gold, and that
Congress can, therefore, require ii 10 BE- used
either i'll payment OF bonds OF iol redemption
OF United States notes. But IN act 10 compel
any creditor to take silver who does not want
il is an act TO degrade and dishOnCr Silver; 10
make il OdiOus, di-cIcdited and cOmmcio I,lly
yaluclcss IL money. Ii the people a.ked 10.
it, when taking their money Tor bonds OF Other
claims, that would be another matter. They
do not ask for more than they have, and TO iolcc
Them to take more would IL TO degrade and
d,,honor the silver coin.
Doubtless the President would veto this reso-
luton il it were passed. He could not do
Otherwise without sacrificing every pa ticc ol
confidence he las gained by the financial con
duct OF his Administration. His veto would
certainly be sustained, so that Mr. Morrison
cannot indulge the slightest hope that his leso-
luton can become operative. 1t is simply Il
political trick to excite the opposition OF certain
voters against the President, and to break
down financial policy which the Republican
party inauguIatcd, and while in power faith
FULLY maintained. That policy has been to up
hold the credit of the United States, and the
cledit OF all coin or notes OF the United States,
lay giving to those who have claims against the
Government their option To take payment in
notes, silver or gold Republicans cannot iul
10 support this policy because President Clcve-
land accepts II as his own. On the contrary,
it is to the credit OF the Republicans that no
President who cares " uphold tive honor oil the