New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-28
GOYERyOR BOIESS REMEDY.

MANY thousand people in the East who care
more for public prosperity than Tor party gains
are lust now watching with interest the acuoh
Of parties in the different States to determine
what tendencies are likely to control them IN
event of success next year. About the RepuD-
Iican party they have full information from
actual legislation by Congress- About the Dem
ocratic party, which secured majority in the
next Congress. they are learning much day by
day from the action of Democratic conventions
In Iowa, however, the State Convention spoke
less clearly than the present Governor, who was
nominated by the Democrats for reelection, ana
whose elaborate letter of acceptance was evl-
IDENTIFY intended to be a sort of pronuncamento
on behalf of his party. His treatment OF the
various questions at issue is refreshingy frank,
and il deserves little study on the part OF
Eastern business men. On the silver question
he congratulates his party that 1t has distinctly
demanded the unlimited coinage OF silver ana
adds
IT, on account of changed conditions as some believe
the result of this will be to reduce the metalhc cur
rency Of the country 30 silver standard aohc' OF
otherwise injure the business of the country tne pepe
can be safely trusted to devise some means OF RETAINING
the two metals In the relative poSluohs "ssis"e" '
by the founders Of our Government.
IT, would not be creditable to the intelligence
of Governor Boies to suppose that he is not
aware that this is a poor variety OF dema-
oopism. He surely knows, as all men engaged
in practical business know, that the mlschle1
which is liable to result from free coinage OF
silver would be done past all undoing, Tor some
wears at least long before Congress, even II III
session, could be brought to pass any measure
on the subject Should free coinage cause, as
experienced and practical men believe that III
would. a rapid withdrawal of gold from the
country and from circulation, there would pres
emily come suddenly, as thief in the night, a
large premium on gold. 1t would suddenly ap-
near. as between two days, that Government
could no longer redeem it's notes in gold. Ihese
notes vOuld then come to have the value OF the
silver coins called dollars, and no higher value,
because no other coins could be obtained in ex-
change for the notes. This mischief once done
The business of the country would after some
fashion adjust itself to the new conditions as
nuiclyly as possible Men who have gold would
put 1t where they could be sure to command 1t
in case of any emergency. Prices would ADJUST
themselves to the use of currency OF greatly
deprecated and rapidly fiuctuating buying
mower The credit of great corporations would
suddenly be assailed, because they could no
longer pay gold on demand, and they would
have either to strain their resources to the ut
most or else to plead necessity and suffer their
transactions to fall to the Asiatic basis.
II happens also that the free coinage OF silver,
if attempted at all, will in all probability come
as the result of enactments by Congress after
II has adjourned. A measure of that character
is rarely put into effect without any warning,
and such measure is rarely passed excepting
after long struggle and near the close OF a
session. 1t is possible that its worst effects
might be seen almost at once, but much more
probable that the withdrawal of gold from use
would be gradual, and the worst results would
not be realized until some time after the session
Of Congress had ceased. No matter how grave
the emergency might be an extra session OF
Congress could not be called without consider
able delay, and far greater delay would be in
volved after session had begun in contriving
some measure upon which opposing interests
could agree. Meanwhile the results of free
coinage would be working themselves out more
and more completely every day, and when the
COLLAPSE had once begun it would not take long
to do harm that many years of toll and patriotic
endeavor would be pOweress to undo. If this
is the best defence the Democrats Of the West
have to suggest against the possible disaster
which free coinage of silver would involve, they
may be sure that thousands of conservative men
in Eastern States will think twice before they
place the Democratic party in power again.
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