St. Paul daily globe., 1892-06-25
Money Problem Held to Be
Far Ahead Of Tariff in
Importance.
A Great Argument From the
Standpoint Of a Silver
Advocate.
Reasoning and Deductions Of
a Fanatic on His Pet
Fetch.


the Rocky Mountain states, has de-
clined to support Mr.. Cleveland. In
the following editorial to be published
tomorrow it gives the reasons for its
course.
The opposition of the News to Mr..
Cleveland does not arise out of any
question as to his ability or character.
That ne is a splendid type of the self
made, vigorous American IS conceded.
That he is aggressive and tenacious 10
secure success for all public measures
upon which he has convictions is the
verdict of the public; and were it not
that matter of principle vital to
the American people and to the pros
perity of this state-interfered. the
News would accept his nomination and
hail his election as splendid benefi-
cence to the country.
The money problem is by far the
most important one that remains un-
settled. AS compared to tariff-so far
as the result of the ultimate rightful
solution Of either is concerned-thatO of
money and its coinage is as the great
light and heat-gIving sun TO the smallest
of the stars that stud the midnight
heavens. Tariff is
A Mere Matter of Schedules.
Both parties admit duties must be lev
led. and the only question is upon what
and at what rate they shall he i'm
posed. The question of protection, in
cidentaI or direct, to American indus
tries, is also question of degree, for
both parties have, at least until the re-
cent Democratic convention. admitted
that it should exist, and in legislation
have acted along these lines.
But the question of money is before
tariff. 1t is of higher Importance, and
lies at the very foundation of the whole
problem of the cOuntry'S prosperity.
If money is sound and abundant busi-
ness is active, employment plenty. en-
terprise accelerated and fair returns
received for all of labOr's products. If
it is scarce, however sound, the opposite
conditions exist. and depression and
gloom appear on every hand. The
money of the world is the coin metal
and the bullion, when free coinage of
it exists. Paper money, whether issued
by the state or corporations, and all
other forms of credit. must be
1dSeO upon OOln money.
This is the only money of ultimate
redemption. All sound credit money is
founded upon coin money and conf
dence-confidence that it will, when
asked, be redeemed in coin. Com will
carry safely only certain amount of
credit money. To reduce the coin
money of the world by legislation or an
inhalation, if that were possible, must
reduce the sound credit money in a
corresponding degree, and as it is so
reduced the evil effects of a scarcity of
money are Immediately experienced.
The power of concentrated millions
has within a comparatively short time
been invoked to destroy half the coin
money of the world. England, Germany
and other European nations. with the
United States. have decreed by law that
silver shall no longer be redemption
money. Itself is TO be redeemed in
gold. 1t is placed upon par with
credit money. The half of the coin
money has not only been made credit
money, but it has been added to the
already existing mountain of credit
money to be borne up by the greatly de-
pleted base. This has necessarily less
ened values.
Property and Labor
of all kinds. except where exceptional
conditions exist, have faIlen.anG the de-
mand for them has been sluggish. Own
ers of property daily grow poorer. the
reQuital of labor is diminishing, and
financial distress is apparent every
where. Because one-haIf of the
worlds redemption money has
been deprived of that essential
quality to its value, all money
has been made dearer; that's, the owners
OF it will get much more property aud
labor in exchange for it than before the
change occurred. and the man with labor
for hire and the owner of property for
sale must take correspondIngly less for
them.
This is the result of silver's demone
tiZatiOn everywhere. Such tremendous
evils are enough to engage the best
efforts of mankind to abolish them. But
there are other evils local to the country
in which silver is mined, that add con-
spicuously to the burdens its people
must bear.
Colorado is a fair illustration of a
country suffering under these additional
evils. The low price to which silver has
been reduced is closing mines and less
ening the miners wages. Since 1873,
through decentralization, Colorado'S peo-
pie have been deprived of S125, 900. 0C0-
lost in the fall of silver from S1.29 per
ounce to 50 cents. This year alone its
loss from this cause will be
Not Less Than SIO.OOO,OOO.
When these facts are appreciated it
must be clear that to the people of Col
Orado the greatest and most vital issue
by far is that of the restoration of free
coinage to silver, and for that all party
alliances should be severed. if relief can
not be had through party, until the
reform is secured.
The presidency is the pivot upon
which the success or defeat of the cause
must turn. Congress has stood ready
for nineteen years to restore free COIN
age if the country's presidents had been
favorable. The defeat has invariably
come either through vetoes or adverse
influences from the White house. Until
a president favorable to 1t is elected
free coinage is hopeless.
Mr.. Cleveland-the opposing candi-
dates-are determined and avowed op-
pOnents Of free coinage. The platform
upon which they were nominated i'm
poses no moral obligations upon either
to sign a free coinage bill; therefore we
know neither will do so-even should
congress pass one,
This being the ifcontestable truth, the
News, guided in all things by its con-
victions, cannot support the candidacy
of either. The News has the courage of
its convictions, and will not hesitate to
maintain it. Whatever presidential
candidate If advocates hust ha nlodcad