New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-22
MORALS AND MONET.

The text for the day and for every day IN
these years, is "Thou shalt not steal FOR
so many years the money question has been out
of mems minds As a living and present Issue
that its moral aspect is scarcely ever remcm-
bered. Fifteen years ago the people prough.
10 the question their sense of duty, and settled
it forever, they hoped, in the contests OF 1900
rs The active men of that day came to
understand that there was III the question:
something far deeper than an issue OF dollars
and cents; that il concerned the duty OF the
Nation TO its millions who labor for wages
and 70 its creditors and the duty of every man
IN his fellow-men But now new preteXtS
blind men to principles which they once saw
clearly. while there has grown up half gen
Grafton of voters who have yet to learn the
roouirements of moral obligation in connection
with financial issues.
Specie resumption was accomplished III spite
of the frantic opposition of nearly the same
class of men which now repeats the old clamor
for "more money Honesty brought its re-
vard-tcn wears of the most wonderful pros
perity and progress ever known IN any lana
or age But now there are arrayed against
safe financial policy, just As there were them
those who have neither forgotten nor forgiven
the men who saved the Union by bearing ITS
expenditures and supporting its credit
solid Democracy, including the army OF south
ern Brigadiers, arrays itself in support OF any
nolicy which endangers the public credit.
Ranging themselves with these. now as at other
times. are the representatives of some North
ern communities. especially in the Ear west
and these men profess to believe that unlimited
silver coinage is matter of right ana justice
exactly as their predecessors argued that II
would be a frightful wrong 10 compel payment
in cold value of debts created in. deprecated
paper.
The error of these people is in supposlng
that a nation ever has the right TO do dis
honest thing, for the sake of giving one set OF
IFS citizens an advantage over another set. The
Nation had promised to make all It's notes as
good as gold, and was bound to do 80 by the
most sacred obligations. For fifteen years
every debtor had contracted his debts in full
view of this national obligation. ii any one OF
them had borrowed more than he could pay IN
case the Nations pledge should be kept. 1t was
his own fault or misfortune. The Nation had
not the slightest right 10 repudate or DEFER
its obligation because individuals had acted
unwisely or been unfortunate in their ventures.
1t is exactly the same plea that is now most
commonly heard for unlimited expansion ana
dcprcciation Of currency by silver coinage. The
mask Of false prctcnce has fallen off i'll the
Senate. 1t is no longer claimed that silver
coinage is proposed because it would put silver
at mar with gold. On the contrary, men
passonatey insist that there must be unlm-
tied coinage because that alone, and not issues
of notes rcdeemable in bullion. will give debt
ors cheaper money. just as men proposed that
Government should refuse to perform its OBJ
legations in 1876 and in January, 1879 so they
now ask that it shall Violate its. obligation TO
maintain its money on a leysl WITH that of the
civilized world and demand that il shall give
| them cheaper money in order that private debts
| NAV be ightencd or chances ~ gain increased
Every contract made since the Resumption Act
was passed in 1875 has been made in view OF
that formal pledge. and every debt incurred
| since January I. 1879, has been in fact Dor
rowing of gold upon promise to pay gold
But now. some people want their contracts
changed by Government for their benefit.
| II will not take the Nation long TO dis
cover that there is an element of moral wrong
in this transaction. Let it he frankly rccog-
nized that. if there existed any overshadowng
necessity, nation would have the right t.
issue promises with risk of their depreciation
There is not the slightest pretence OF public
necessity here The plea set up is that tho
people do not want to pay in the same money
in which THEN debts within the last twelve
years have been contracted No gloss or pre-
tence can strip this proposition OF its essen
tally immoral and wrongful character and a
President who has faith in the honesty OF
Americans need not hesitate to appeal TO the
people, if he finds it necessary in order to de
fend the Nations integrity.