New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-20
THE COINAGE CRAZE.

THE COINAGE CRAZE.
When the Presidential election OF 1861 ar
rived, Democratic Judge of high reputation
and character said to friend: " am gong
to vote for Mr. Lincoln. Many years there has
been this threat of secession and civil war.
want to meet that danger while am alive, so
that nv children may not have to face It,"
Something of the same feeling is given now 10y
some men at Washington as an excuse Ior
yielding to the demand for free coinage OF
silver. 1t has been threatened many years.
Every sane man is aware that it involves great
risks. But some men say: "The danger Will
never be out of the way, the people III some
sections will never be convinced that free COIN
age is rlinons until they have tried it; there
fore. let it be tried now, when the country Is
strong and prosperous and at peace, and let
the legacy of peril not be lett to our sue
cesSorS possibly in an hour OF INDUSTRIAL weak
ness or foreign aggression"
Human reason was given to enable men 10
avoid disasters But if self-governing people
have not reason enough to recognize peru
when it is clearly pointed out they Will nave
to learn by experience. There could hardly De
q better time than this to settle whether the
peoDle actually want free coinage of silver, as
its advocates claim. and if they do, perhaps
there NAV never be better time for them TO
learn nv experience whittier their theories and
wishes are leading them Yet the duty OF con-
seryative and Iight-thinking men is easy
enough. They are bound TO resist the danger
with all their might, and to convince the people
! if they can before ii is too late that the danger
is real and the theories arc fatal. Their reward
will come. if not sooner, when experience shall
have taught the people how they have been
misled
The Senate has passed Free Coinage bill,
third of the Republicans joining with nearly
all the Democrats. The first duty of Repub-
licans in the House is TO stand up like men
for honest money, and to prevent the mischief
if they can. 1t is not their part to let miSchiei
come now, in the notion that II must come
sooner or later. The average American Is SLOW
TO do any thinking about a public question:
but he does great deal of thinking in very
short time when real emergency comes. lie
is exceedingly prone to let his opinions be
formed by the nOisiest shouters under ordinary
circumstances But he has faculty of turn
ing the light of his own common sense on the
subject at the most unexpected moments ana
then, very often, he reaches right decision
suddenly and the noisy shoutcrS instantly drop
out of public favor and influence as II Mo'her
Earth had opened and swallowed them. Or II
the House should by some similar combination
pass the Free Coinage bill, the duty OF the
President would be equally clear He also
should use all the power he has to avert dan
GER veto the bill, and appeal to the people
Then the process of public thinking would be
sure to begin While there is yet any oppor-
tunity to awaken the voters to the peril which
turks in free coinage, the duty of every man
who can is to use that opportunity.
1t is awakening that the people need. In
most Democratic States voters and influential
men have given no warrant 10 senators OF that
party for votes in favor OF free coinage. Those
Senators have thus voted only because they
hope TO make trouble among Republicans
When substantial men of the South think seri-
ously what industrial and financial disaster
would mean to their interests it is exceedingly
questionable whether they will tolerate the
course their Senators and Representatives are
! taking But for frantic partlsanship OF Dem
ocrats in Congress, who seem ready at any
| time to plunge the country into any concelv-
able trouble if only they may thereby get back
| forfeited power, there would be no chance OF
! danger from monetary changes since the Re
publican party brought the country back TO a
sound currency by resumption Awakening In
PENNSYLVANIA would mean that Mr. Cameron
would realize how he misrepresents the sub
stantial people of his State. Excepting the
strength which Democratic partisanShip and
! Mr.. Cameron have added, the silver craze has
not vote east of the Mississippi River, and
the States west of that river are not yet strong
enough to make laws for the whole country.
1t would be better for the House and for the
President not to compromise away the strength
of their position. They stand to-day in favor
of notes redeemabe in bullion of a definite
market value and that is sound and honest
money the world over. When the people get
that point into their minds, they will sustain
the Republican party as they have done here
toforc The House has assented to purchase
of bullion enough TO take all the silver from
American mines for monetary use, and step
beyond that is dangerous. There is no excuse
whatever for making a perfectly sound paper
a legal tender for the payment OF all debts, and
no honesty whateycr in giving that power to
any other paper in the absence Of absolute
public necessity. On that solid footing OF hon
esty and Justice the House and the President
can appeal without fear to the sober judgment
of American citizens