Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-10-08
SOUND CURRENCY.
4 Striking Contrast Between Democratic
and Republican Principles.
N. Y. Sun.

| Striking Contrast Between Democratic
and Republican Principles.
| Two political conventions, one re-
| publican and one dem ocratic, met the
| other day in two states-the former in
Massachusetts, the latter in New York
and made a formal declaration of the
principles of their respective parties in
regard to the currency. 1t is profound
ly significant that these two declara-
tionS were, in almost Identical Ian
guage, in favor of honest money and
against every form of depreciation. 1t
is still more significant that the Ian
guage in which the republicans of
Massachusetts and the democrats of
New York made their declaration was
substantially the language of the pres
ident of the United States upon the
same subject, The most obvious effect
of this striking agreement between the
two great parties is that it is sure-so
far as anything in politics can be sure
to take the question of the currency
out of the field of political struggle IN
the national elections of next year,
Since both repu blicans and democrats
have resolved that every dollar issued
by the government shall be as good as
every other dollar, there is nothing in
the direction OF further currency legis-
lation for them to dispute about.
The position OF the epublicans in
every state in the east where they still
have any leaders of probity and COM
mon sense was already fixed for them.
Mr.. Harrison, with great courage and
firmness, and with admirable precision
and completeness of statement had laid
down the doctrine which they were
bound by every consideration of party
expediency and by honor to adopt.
Anything different, and certainly any
thing less, would have been on the one
hand an open or covert declaration of
hostility toward the administration,
and on the other hand would have
riven the party in two. The deliberate
and grave words of Mr.. Harrison at AL
bany were the official leader of the
republican party to the mischievous
and senseless utterances of the repub-
lean conventions in Ohio and Pennsyl-
vania Until they were spoken no one
could say what would be the course of
the party on this question. Men were
found saying that the next congress
would pass free-coinage bill and
President Harrison would sign it. But
when Mr.. Harrison had once declared
with all the weight of his authority in
the party and in the government that
every dollar issued by the govern
ment, whether paper or coin, should be
as good as every other dollar" the pol
icy of his party was irrevocably set
tied.
Very different was the situation of
the democrats of New York. The great
body of the representatives of that
party in the last congress, and most of
its senator's, had voted for a free coin
age bill. The democratic convention
of Ohio and that of Kentucky had de-
clared in favor of free coinage. These
acts were sound evidence of strong
sentiment in the party. Against them
were to be set the firm and simple dec
laration of the late democratic presi-
dent, Mr. Cleveland, and the known
sentiment of the business men of the
state of New York. 1t is not surpris
ing that policy of evasion and com
promise should have suggested itself
or that it should have found an advo-
cate in such a leader as Gov. Hill 1t is
to the credit of the sagacity of the
leaders of the New York democracy
that in situation of this sort they saw
at once the duty and the advantage of
a policy absolutely beyond misunder-
Referring to the past, they
say: 1--WE now, as then, steadfastly adj
here to principles of sound finance.
We are against the coinage of any dol |
lar which is not Of the intrinsic |
value of every other dollar of
the United States" And as if they |
were resolved that there should be no !
chance for any such tricl1ery as that of |
the Fifty first congress, they proceed |
to denounce the Sherman silver law, |
under which one-tenth of our gold |
stock has been exported and all our sill !
yer output is damned up at home"
It is impossi BILE to exaggerate the eff |
feet of this declaration. 1t bani shes |
the free coinage issue. not only from |
-he campaign in this state this year. |
but practically from the presidential |
of next year. 1t leaves the !
field clear for an honest fight on the !
question of tariff reform and removes |
,he most serious obstacle to the tri-
1mph of that reform. And, above all, |
t gives assurance to the business men
and the workingmen of the country |
hat the harvest of prosperity now APP
oarently awaiting them shall not be |
olighted by financial folly.-N. Y