New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-21

POLITICAL EFFECT OF GOLD OUTGOES.
The exports of gold this month will help the
Republican cause. In several ways they tend
to strengthen the appeal which is to be made
in behalf of Republican Administrations and
Republican measures The most obvious re-
suit is that the whole business world will be
awakened to lvelier sense of the importance
of financial administration which demands
public confidence and which can be trusted
to guard against emergencies These ship
ments cause no panic, and justify none. But
they force conservative men to remember the
sudden and unprecedented movement of gold
last year, the unpatriotc efforts then made by
many Democrats to destroy confidence in the
Treasury, the simple but effective means taken
by the Administration to prevent mischief, and
the complete success of those efforts. 1t was
recognized then as a great blessing by bust
ness men of all parties that the Administration
was in hands so capable and SO firm. When
men are reminded that similar stress and test
ing of the Nations credit and financial strength
may come at any time, many will turn from
the party which recklessly assailed the public
credit for partisan ends, and to the safe and
able President under whose guidance an eX-
traordinary emergency was passed without the
slightest shock.
No new candidate, however able, can COM
mand the confidence of the business world
which the President has earned by the course
of his Administration. He has been tried and
not found wanting. There is a host of men
who care little for other political issues, but
much for that financial security which makes
prosperity in business profitable These men
will be strongly moved to support President
Harrison because they know what to expect
from him, as they could not know what to ex-
pect from any untricd candidate. But should
Mr.. Cleveland be nominated, Democrats hope
that he would command a similar confidence.
They have no reason for such hope. The
one man who did more than all Others to keep
Clevelands Administration out of fatal error
as to finances, William l.. Scott of Pennsyl-
vania, is no longer living. His judicious ad
vice, strong influence with the President, and
faculty of swaying men, contributed more than
the country has ever known to its comparative
freedom from financial disturbance during the
last Administration. Mr.. Cleveland himself
was innocent of knowledge on financial mat
tiers. Mr.. Manning is no longer living Mr..
Fairchild fell into grave and costly errors
which business men clearly recognized at the
time, and do not wish to see repeated.
The exports of gold will make business men
realize more than ever how necessary it is
that there should be no risk about free silver
coinage. Mr.. Cleveland is one Democratic
candidate, but almost the only one, who has
made his position on that matter clear, and
with any other nomination there would be
grave doubt. But it is even reported that Mr.
Cleveland himself has agreed, if nominated, to
abide by the will of Democratic majority in
Congress, and not to veto Coinage bill passed
by his party. No other satisfactory explana-
ton can be given of the great support which
he receives in convention from men who are
fanaticaly for free coinage. Nor would his
election, if he were to be wholly trusted, re-
move all danger, for his death might place