New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-19
THE CHIEF CAUSE or TEOUBLE.

THE CHEF CAUSE or IHOTBLE.
This conntrv has so long enjoyed the blessings
Of a sound currency that many refuse 10 realize
that those blessings might be lost. just rs
Democrats snceringly denied that specie le-
snm,tion was possible even while Republicans
were finishing the task, SO there are some VINO
stnbborplv and stupidity deny that a prospect
of change TO Democratic industrial pollcN
causes any trouble now, OF involves any FISK
hereafter Yet the facts bear but one rh'erpie-
totion. I'm October gold came into the couh-
fry. though the merchandise excess oil exports
over imports was only SS,395,S3i. The silver
art of 1890 was then in force, and no other
laws have been altered. Yet in November goa
went out of the county, though the excess oi
merchandise exports over imports was CO.
S1215G. and in December more than S6'ooo'-
600 cold has gone ont already, though the en-
ross of merchandise exports over imports APP
pears even larger
of course. it is but shallow and silly trck
70 prcteud that the very same silver act. when
worked no harm but permitted IN Ger 'ocf the
most prosperous business the country had ever
known. is the cause OF a halt Ill November az"
s,t-bacl, in Dec mbor Men who reason after
that fashion do not mcllt even thc!r own 1T
tenti9n The argument for the r'pcaI OF 'he
net Of 1890 rests on far better grounds. Inc
act has been sufficiently tested. II has SHOWN
cha ont;ro willingness of the United states 10
bear its share and more than It's share De-
cause of the demonstrated disposition OF "f''
Britain. and other powers represented a' ,"'
BruS,c,s Conference. TO refuse any lcmedN loI
silver difficulties in the hope that Dehiocla'S o'
this country will make silver coinage ifee' II
vonld be the part Of good sense for Congress
IN stcn fmther purchases Of silver. But Demo
Crafts need not imagine that the repeal OF the
act Of 1890 would save them from the con-
scoue.cos of a Dcmoclatlc victory. lhoN con-
sonucnceS have 10 be faced and may no. be
retorded or otherwise affected by any acton
which the present Congress can make.
Gold is rot going out as some profess 70 b'-
love because cotton and wheat are low anu
GRO lont NJ home. and merchandise exports are
small The aggregate of merchandise exports
:, November was never equallcd until the last
phenomenal year in any month except 'No-!h
October and December, 1S90-When II was Only
slightly exceeded. 1t was larger than ever III
provisions. in petroleum, and IN Inc great
variety of minor exports. and even III DIead-
stuffs and cotton had rarely been equalled nnili
last wear. Gold has gone ont because secure
fics have been sent back from Europe. and they
were rot sent back because OF acts Which were
inst * much in force in October as in N0vcm-
her or December. The turning point was Il
decision of the people to change the pohcE Oh
the Government.
Wall Street sees this, and feels the pressure
of the stocks returned. Democratic papers
betr1v their wrath by saying that plactca'
busjnoss men have fallen into wild and sense
loss fear On the contrary, was II not VIA
and Seuec ; t. imagine that foie'"h investors
would feel as much confidence III an unknown
and ntried policy for this country IL III that
which had been tc.t d for thllty years with the
orandcst Ie.nt,? Was it not wild and sense
less +, imagine that, after spending Thirty years
in bujldiny I'D industries, the country could set
itself to destroy them without producing any
disturbance?
The one possible answer Is That Demccla'S
will disregard their platform, and VIII mol
DESTROY any industry. About that no one can
no sulc until after the next Congress has acted.
Then if will be too late for some to guard them
solves and practical men do not always wait
until an event has come before taking precan-
tionS. Such men also know that full year
Of uncertainty about the tariff, which Is the
very basis of employment for millions here
mist involve some curtaimcnt and Shnnkage.
Those who choose 70 sell without waiting tor
the wear # uncertainty are possibly "a sensible
as those who oppose an extra session ana lnSiS'
up-n the full year or more Oh hesitation ana
curtallment
The Republican National policy has secured
wonderful prosperity, established such con,
tdence among foreigners that many hundred
millions have been invested here, ana thus has
insured sound currency. The certainty tha'
there is {, be a change stats the movement the
other way. If the Democrats wait year with
out doing anything, they may realize some con
sequences of their victory before a Democratic
Congress assemblies.