New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-07
NEW-YoRK DAILY TRIBUNE TUESDAY, TEN rAGi

ciaio0. thai nnOth6r
arrived. and that tho moment for diplomatic inter
ference is not perfectly felictous. Our Information
IL recent and authcntc. and contained Senate
Eek: Dec. No. 29) In tho letters OF our ministers ac
credited to Great Britain France and Germany there
published. and In the correspondence and acton OF
the English Government which summarized above.
The continental Powers await the action OF Great
Br tain. whose reluctance defeated the object OF both
conferences called at tho instance Of the uhted
states, and 10 whom again, almost within tweive-
month. she has turned a deaf IL IL suited inc
dignity OF the United States again 20 besiege tho az
tcntlon OF European States, again TO make aa
vances where they have been so Lately repuseu' -
would not suit interests TO do when :. -.
certa that the inquiry upon which ofe' 'i',ance
has suddenly entered at the instance ana m7is s"I
OF her great dependency India, and OF ne, o" 80 own
IL entered upon with exclusive reearu 10 ioi 49, -,
interest And of Great Britains interests "io
United States have call to become auNisoiS =,
| guardians considerable chapter in the recon' Vi
10th the monetary conferences IL occupIeu Wy VI
| claners on the part of the United States oil any
spcclll or Interested -1iscltmers DOT more
lust in fact than they convincing by their heces
sty OF the natural distrust which zeal may INSPIRE
/ among Jealous and equal States. No interference
now can advance its object If an inward chaiiee III
deed be taking place where outward change mas peen 80
| long pers stently refused and resisted cohleIehre
viii be profitable not until after any reluctant S'ate
shas placed herself substantial accord win FORMER
| ,onferees whose concurrent purpose she ms long
Gnown and twice frustrated In short ~ Is nov loi
Great Britain TO make propositions 10 o'her ioNoS,
And, not at the instance of united lowers 80 no.
MT the instance of any one of them VIII she ABANDON
her cherished ISOLATION. 1t will be abandoned ii
ever solely because ii is generally perceNcu IN CiosV
Britain 10 concern the vital interests of Great britain
30 TO do Under no circumstances Will Great britain
alone oren her mint TO the free coinage OF silver
when, if she Rercevcs her interest 10 lie III re-
tracing the error of 1916, she has the means OF ap-
prising other Powers Of change in her opinions
Conferences and treaties would then 10 In orucr
to a practical result.
SHALL THE UNITED STATES BUY MORE THAN
$3.50. 100000 OF sILvERf
III To 90 on as we are Is the least crcditable OF
all the courses open to our choice.
The Treasury silver purchase is defended by NOBODY
approved by nobody even every vote Tor the Tree
coinage OF silver is vote that the treasury s'cr
purchase shall cease, assertion that 1t ought 10
cease. l. =. ,-.
1t has thrown away the opportunity TO let loose
abroad the silver have kept stamped ana stored
and it has discarded the power TO reduce py as muci
the foreign of gold two arguments that "ouu
have had intelgiblc cOgency.
1t is a policy which. if prolonged by our hopes
may easily be protraced thereafter by astu'e uo
laws and datory proceedings and by the time taken
for negot alton itself TO force an Asiauc silver
basis for America.
The silver question to adverse not to hostile, IN
terests.
1t deprves the United States of perfect equality OF
position mon coinage) in negotiation with foreign
powers
1t is an expense and a taxation demons rated by
exper ence to be OF no avail for any useful end Need
less as tax silver purchase is also disturbance
In the Treasury VIII threatens the currency without
relieving the taxpayer. II Is heapibg up hcaNy
ingy difficult to keep, in domestic commercial EQUIV
alence with monetary unit. Of that unit inc
silver coins never be true embodiment DIS inc
gold coins by any other means than those whch
preserve the gold coin its function as such an EN-
lodiment viz open minis TO the silver OF the world
and a full legal tender quality in the payment OF
debt, Impaired by law to any possible output OF Sill
yer coin thus insuring to the unlimited metal in
equal value with tho monetzed COIN IL Is there
fore, Cutting currency with depreclated metal
while also impeding the only of reversing that
depreciation and restoring Its value
1t has been futile costly. 1t neither gives nor
has had tendency to give international currency
the Of these 25O,o00,Ooo coins. u increases
" one the number of nations burdened with The TASK
OF holding deprecated metal at Its OLD lever III ner
bimetall.c monetary Units. There Is single uher-
cnce. When the monetary disiocation began, the
people of other nations had large stocks OF saver com
subject to depression. we had none. We cfeatca
one, ana daily adding TO IT,
To the fceheness of seIf-dcfcat in the exercise Of
our influence abroad. 1t thus uries the INJURY OF a
costly imitation at home. 1t is not merely the aD
dicatlon of our actual rover to hasten solution of
the iItcrna uonal problem which VIII restore snNcr TO
it, former and value 1T is the taAauon OF IN
otherwise overtaXed people 24,OOOOO0 per ahnum
to delay and defeat that solution, besides being
use of the proceeds that taxation to disorder our
eurIemsy 1pa' s .nY seS ON tho one
hand presses Treasury toward silver basis ana
| IN the other hand tempts Congress beyond a fruedi
expense Ii blocks every avenue, not only 10 hoHo-
tay hut to fiscal and tax reform
SHALL TIE UNITED STATES PROMOTE CURE OF
MONETARY DIsLoCAlIoNf
" To stop the purchase OF silver Is our Only
choice, our duty, and our interest.
IT Will stop a wastctu and lnIur OILS expense ana
the taxation which dcfIays t
1t win begin and promote reform III the sum anu
| The methods of Feieial TAXATION
1T viii TO the United States an equality OF
position ton conagej with OIegn Towers winch VIII
rive u, influence III he. citation.
1t will n!uce ne~Otatlon, anu negotiation 10 'Ao
end of relief, not for the purpose Of delay.
storm n tie purchase ana coinage of silver j. the
fr-t stop and the Test which tie United States can
axe in 10 NJ their great part TO rcpa the monetary
slsiOcatiOn OF the world. It's OrSn Wds loflSh'
t. Icmc!y - international he timc IL ufc Tor th~
powernl commonwealth to enter decisyeIy ulom
that international Transaction. The rEe moment
must not be let slip. After becoming entanSied ia
ncgOt atom. we should not be free, Is now, 10 act,
first f0r our own ads antage, ana then Tor the pro
noting OF our own dcllerance and the worlds he
! lycE.nce from this world WIDE trouble Depressing
| industry and trade. il affects private prosper!
| every where. But its influence upon Government
finances is a separate in ury AMI varies III different
states according 10 the fiscal and currency SYSTEMS
| which it distulbs in England the depression Is
serious, but the dsOr eTcd finances OF her largest &c
i -endency. 1nda the point OF trouble when
touches the Government Of Great britain. In France
aud Germany the depression rs geDeni' but me bril
,roblem tie maintenance of an enormous but not
nlar-ng stock OF coined silver -a;ely deprecated
early 80 per cent. par with gold While keeping
both in the ntc1 states tho dcpr sslon &" ira 10
great caused by the La ural unwl ngness OF tho-o
whose savings little a. OF those whose capital j.
large, risk it, loss in falling prices ana the hazrl
of silver basis, thus contracting every where, not
money, OF which there a superibundance. but the
cnplOy nent OF savings a. capital by means OF money
! in or,~nizug industry and keeping hiOr busy. But
the trouble moanW hIc caused to the Government
finances il different. Here, too, as In France and
in GERMANY there l. OF holding enormous and
also enargng stock QarecH now than that OF Franco
relatively our commercial and banking habits Of
coined silver, latc.y deprecated 80 per cent, ut par
| with gold while keeping EOth N use
10 stop the purchase ami coinage Of silver Is for
| this local uOubIe also the first and best step
10 increase stock Is to Increase the difficulties
of the Treasury iegt mate and abnormal difficulties,
! which ought never TO he imposed upon the Treasury
OF any den.O ratio crnment, and which ought not
| ~ he incr, ased. Its mission Is ~ CON the two
lie tails into money for tho publIc-as much as every
ody asks. IL has fitness for coming Tor Itself and
LeeFng tie coinage. Its proper bus ness as a fisc
il receive peoples revenue from taAes III good
money which IL has coined Tor them, and to exIend
| that money Congress bids, keeping surplus at