New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-23
TIE NEW SILVER BILL.

Conservative and sound men in the Neha'e
evidently agree with The TRIBUNE III 'i'n"
inc that il will DO no good to lh'rou"'o Wv
ao,nnromise Silver bill if it is not to be accept
cd and supported by the Senators WHO nav
favored free coinage, or II IT Is ho' w NC ~
summarized as TO give the pubic s''i'l'lon,
assurance that free coinage will not he No'eu
-. coon as nossiblc. The country needs, ho'
,,,oro money but more confidence that ITS money
i not to he dcbaSed. Legislation when aces
NOT tond 70 remove this Apprehension VIII nave
alor. as much effect as Mrs Darlington at
tonn+ 70 sweep back the Atlantic Ocean with
hon mon Current commercial credits constant
T.. o,.oroco At least $4,000, 100000 Com
n5ro1 with any considerable shnnkaGe Ill thlS
vast sum. how insignificant would oe d'' auu'-
tion of $50 OO0. 900 to the circulating medium'
II is plain enough that, whatever senators
may think Of the legislation proposed, the CON-
mertial world has not discovered IN IT Sfouhu
for increased confidence II Is the almost
universal impression in financial circles that the
message of such measure would not delay by
an hour the advent of unlimited coinage, hut
uond only give those who are urging that
oba4yo y Certainty of success. Republican SEN
,tors have = right to urge that Congress at the
last session went just as far Ill proViulDs W.
an increased use of silver as 1t was possloie 10
90 with reason or safety. II Congress S"o"''
take = different position by lis acton now IL
,vould virtually condemn as inadequate Its actioh
e last summer. which has not yet teen fairly
tried
In mart for these reasons, doubtless, some OF
tho Republican Senators who are most eh'i'Icu
10 confidence express unWlllhghesS 10 S"PP'''
the nroposed compromise measure, or eve" ~
consent TO its introduction, unless there j. dh'V
ossr,onco that il will be accepted uneqlllVocdHH
-. rho advocates of free coinage, ana 80 az
cnnf.ad that its adoption will put an END 10 inc
oossih;I;1v IF more radical change at the next
lo.;or Not = few are saving that, II unllm-
49, oo;,oca = 10 come al all they want II 10
no,,,o coon so that the country can speedily
learn what il means. Then they DeheVe II VII,
he thrust aside by an indignant people anu oil
q oifafion for that measure Will be stopper WI
over. II would be a costly lesson bu' one VI
those which a nation does not nccd 10 learn
twice. The question is whether conservative
common->ense may not yet avail to make the
lesson unnecessary
The anua,cnt need for more money has passed
with the large disbursements Of the Treasury
and the imports of gold from Europe. Bui the
nlain truth is that there would have been 10
appearance Of need if votes for wild financial
nroposjtlons early in November had not caused
apprrhen,on Of the future and withdrawal OF
large amounts from use. With gold certificates
outstanding amounting to II iO.OOo, OOo no one
can tell how much Of that sum has been locked
I'D III the form Of certificates in Safc-depoSlt or
other vaults. or placed with banks in special
deposit payable in gold only. !, Is no longer
difficult matter to hoard and safely hide great
sums Of money, and the clamor for dangerous
legislation az Washington only increases the
disposition Of conservative men to put Their
money where it will remain gold, and cannot be
changed into silver over night. The one wise
thing for Congress to do if il be possible would
be 70 1cmOve thai source Of diSrGSt. Mess
that can be done delay and debate are apt to
mean more shrinkagc Of credit and more with
drawal of gold from use.