New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-31
REPEAL 1HE SILVER BILL

1t does not need profound knowledge Of po-
ltica economy or finance TO recognize one feat
urc. and tia. the essential ono, % Tho existing
financial situation. The silver Purchase laf j.
bv everybody /, confession fat failure l. salts
fcs nobody. and in the opinion Of vast Ma
i0ity Of the intelligent voters Of the country
is working daily mischief Intended originally
as compromise measure 90 meet the demand,
of the free coinage advocates. whose incicas-
ing numbers and corresponding urgency in both
parties threat ned more rad cal and dang rous
legislation III the direction Of doterioratod cur
rency. it has failed utterly 10 satisfy or even
appease the clamor Of those b whom il was
offered US a concession. The course OF events
since its enactment has demonstrated its weak
moss as a nakcshift and the unsounducs, of the
economic notions in which it had its origin.
The fears Of those who consented to the con
cession under pressure have bcen more than
verified II is not necessary now TO defend the
action Of Congress in passing it or repeat in
detail the conditions existing at that time which
seemed 10 justify it. Senator Sherman, the
putative author of the BILL has frankly ad-
mittcd its failure and advised its repeal The
Republican party is practically unanimous in
favor Of the repeal, and the Democratic party
stands committed 10 that policy.
Why not then repeal it without further ado q?
Tho fact that nobody Is satisfied with il. and
that both parties condemn H. ought t. BE- suli
Gent to conclude further discussion and bring
about imlacd ate final action. There does not
remain a decent pIctcXt even the specous pre-
toncc that any considerable number Of feather
IL
unuancc on the statute books II may lod
probably Will take scy .al "ampagas Of odu.
cation - root out of the minds o. .ali drink
crs the dclUsIon that cheap money and 1A"r 3
Of il means prosperity; INT DO campnep of
education. nothing but oy', and car, 1Dl thc
,implrst common sense j, necessary to soc and
understand that condition OK a.. currency
which create, di,tu,t. keeps capital idle ami
prevents il, investment III productive enterprises
is mis.hicyouS and dangerous; had for every
Iody. The patent facts in the present situation
are: first that since Europe began a. recover
from the financial Disturbances OF few years
ago and settle down upon an even keel money
La, been accommodating in the vaults OF London.
Amsterdam and other money centres waiting
q, portunilcs for safe investment second. that
this country under ordinary circumstances offers
the most promising field in al the world for
such investment and third. that nothing pre-
vents the unlocking OF European vaults and
flow of capital into this country except the
universal distrust Occa>ioncd b. the contnu-
ance of a law on the statute books which is q
demonstrated failure and nobody wants re-
tanned
1t cannot be otherwise than plain to the
average intelligence that the outflow of gold in
large volume which is threatened must act a.
damper on all business enterprises and ScIi-
ously cndanger public and private credit. II
must be equally plain to any one who gives Il
a moments thought that the operation OF the
present silver purchase law is the sole cause
for abnormal gold exports. No matter whether
il ought to be 50 or not ; no matter how many
people there are who think The di,truSt is IN
reasonable and that gold and silver ought to
be on parity notwithstanding our enormous