St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-19
VERY CONFUSING.

This currency problem is really very
muddling, and men who are subject to
the vertigo had better leave it alone. 1t
will make them dizzy, 10 matter from
which standpoint they contemplate its
gyrations. The Pioneer Press, a Re-
publican newspaper, now demands that
the SHERMAN silver law shall be re-
pealed. 1t says that it is mistaken
and unfortunate'' piece of legislation.
And why? Because il provides for the
building of mountain of mixed cur
rency too high TO be supported by
the basis of gold on which it rests. A
SHERMAN silver certificate has one
merit, and one merit only i'll its eyes. 1t
is intended to be like gold dollar. In
as tar as it is, it is a success. But since
it is not the same as gold dollar, it
ought to be abolished. That is, the
Pioneer Press believes in gold mono
metalism.
This is also the view of Hon. WILL
IAN r. MERRIAM. Speaking of the
qualities OF proper currency in his
contribution last week to the Chicago
Inter Ocean, he says: ut must be re-
deemable in gold or its equivalent" and
again: mo currency will be OF service
as circulating medium unless it is re-
deemable in the gold coin of the United
States at its full weight and fineneSs."
These two Republican oracles disagree
on some points, but here they stand to-
gether. Nothing could be clearer than
fhQir nncIfinn &C If ic q bio n
regard them as authorized to speak for
their party, it is fair inference that
the Republican party believes in gold
monometalism.
But when the Honorable CUsHMAN K.
DAVIS deserted his Pindar and the
other poets and took the stump to de-
fend the enOrmities of the billion-dollar
congress, he declared in swelling perl
DDS that the enactment Of the SHERMAN
silver law was an achievement only less
glorious than the emancipation procla7
nation. He said that the Republican
party by this measure had raised the
price Of silver from 20 to 80 per cent,
and that, by virtue of some mystical
attractive power which an increase in
the value of the precious metals had for
farm products, the price of wheat had
gone up in the same proportion. The
senior senator from Minnesota thus does
not appear to regard the SHERMAN sill
yer law as a mistaken and unfortunate"
piece of legislation, and its merit in his
eyes is not that it provides for dollar
like the gold dollar. Its merit in his
eyes is that it stimulates the demand
for silver, and raises its price and the
price of other things in sympathy with
it. That is, CUsHMAN K. DAVIS be-
lieyes in silver currency.
Again, JOHN LIND, who is the only
Republican representative in congress
from this state, in recent interview
says that fusion between the Farmers
Alliance aud the Democracy is an i'm
possibility, because the Democracy adj
vocates 1.-The English idea of a single
gold standard for our medium of ex-
CHANGE" The Alliance, on the other
hand, he asserts, demands an increase
in our circulating medium. and of
character not 10 be subject to the con-
troll of foreign or domestic Spectators"
and further, The Alliance people and
tue Republican party aim to travel in
the same general direction" If this
means anything, itmeans that Mr.. LIND
believes in the PETER theory of the
free coinage of silver. CUsHMAN z.
DAVIS and JOHN LIND are as high in
the councils of Republieanism as the
Pioneer Press and WILLIAM Il. MER-
RAM. The inevitable inference is that
the Republican party is in favor of the
BLAND bill, OF any other equally ex-
IRENE measure.
The GLOBE repeats its advice that