The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-03-26
NUNC DIMITTlS.

The free-coinage bill has been scotehed,
not killed; but il will suffice. 1t is possible,
as Mr.. Bland says, that the Committee on
Rules will report resolution for its early
reconsideration. but it is not likely. Wise
men know when they are dead, and require
no information from the undertaken Among
the 14S members who voted for the bill
there are certainly some who know enough
TO understand that il it could not pass on
THU sday. with the Speaker. the Committee
on Coinage, and majority OF the dominant
party in the House in its favor, it will never
pass. The country is 10 be congratulated
upon its escape from a danger, which was
none the less real because it had no excuse
for existence.
Representatives McKenna, Cutting and
Loud stood by the platform on which
they were elected and voted against the
wild scheme. Mr.. Loud made very tell
ing speech against it. REPRESENTATIVE
Bowers Of the Southern district, however
cast in his lot with the free-coinage Demo-
Gratis Among the principles as TO which
this State has in the past differed
from the East the most conspicuous has
been our doctrine that business on this
slope must be conducted with real money.
not fat money. During and after the war,
when internal trade at the East was carried
on with paier money, which derived its value
from an act of Congress- we effected our
exchanges in real money only, the money
of the world, which was recognized every
where as money. California was loyal
enough, but it did not allow its loyalty to
blind it to sound financial principle 1t
accepted greenbacks, but the only money
which it used to buy with or TO sell for. or
to pay debts with, was money which would
buy goods or pay debts ia any part of the
globe. 1t adhered to this rule at considerable
inconvenience and loss. Ii argues strange
fOrgetfulness of the past in Mr.. Camne;ti
and his colleagues that they should have
expected Californans to depart from 1t
now, in obedience to an eyanescent delu-
sion.
The free-cOinage craze is one Of the most
curious political vagaries in our history.
1t arose from not unnatural desire on the
part of silver miners to compel the people
al large TO pay them 81 for 20 cents worth of
silver. BY dexterous appeals TO the debtor
class. these miners succeeded in persuad
ing quite large number Of persons who
were unacquainted with finance to back
them up in their scheme, by representing it
as one which was calculated to tighten the
burden of debts at the expense Of creditors.
The farmer was told that free coinage
would give MIN more money for his crop,
which was in effect the case, though the
money he would have got would have been
deprecated money, with less purchasing
power than real money. He who had Dor
rowed real money was assured that, under
free coinage, he would be enabled to dis
charge his debt in money that was not real
and which could be more easily earned
than real money These deceptive assur-
anceS rallied a considerable number Of per-
sons TO the support of free coinage and Ii
obtained an Endorsement from u portion of
the Western press, which made it appear
that it commanded the assent of the West
ern people. 1t was a fraud all through.
Free coinage would not have helped the
farmer. It would not have helped the
debtor class, Tor it would have shut them
out from the money markets Of the world,
and would have made it impossible to bor-
row for the development of farms. And
the deluson never did command the APP
prevail of the Western people at large.
though from the language of certain politi-
clans ana editors, it appears that it did.
Happily for the country, the sturdy COM
| nonsense OF the American people was
awakened in time. aud the wild notion that
they would be benefited by enriching few
SlifSt-fHiftto HdS DCet SldibDcu Oul- lie
irrepressible Bland will probably continue
to come TO the front from time with more
schemes FOR making sunbeams out of saw
dust. But he is not likely ever again to tie
the House of Representatives on any such
scheme. He has had his day In court, and
has been noBsuied. That Mr. Bartne of
Nevada should continue to wall over the
obstinacy OF the people in refusing TO pay
| dollar for 20 cents worth of the
| product of his constituents is to be ex-
| pected; if he keeps on, his bills will prob
ably be clas5ed with the memorial to King
Charles in David Copperfied." Mean
while let US all thank Providence that once
again the country is safe.