St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-27
THE BLAND BILL.

THE BLAND BILL.
The GLOBE is glad that Mr.. HARTER'S
resolution to postpone the consideration
of the BLAND bill until after the next
general election did not prevail in the
Democratic caucus. There is no merit
in such a policy OF procrastination.
This question has got to be met, and the
sooner the better. 1t would be lmpOsSi
bic to hide it under non-committal
words in the Chicago platform. Intelli-
gent voters will want to know where
the Democracy stands OH this Issue, and
if it does not take position Itself the
enemy will devise one for it to occupy.
No party ever won national victory in
this country under a banner of mega
ton. temporary expediency or coward
ice. If the Republicans are crafty
enough to make the next election turn
OH the currency problem, we shall have
to meet them, and tell the people as
they go 10 the polls what they may eX-
pect if they instate us in power. AS
events have shaped themselves, the
tariff will not be the only subject TO be
debated III the coming campaign. 1t is
idle now to hope for this. Free silver is
in all mems mouths. They know very
little about it at present, but they will
learn enough to express an opinion
when they cast their ballots. 1t Is the
duty of the party's leaders in congress
to determine what will be the meaning
of ballot cast for the Democraey's can
didates, as far as this question is COLI
cerned. And the only way to do it is to
bring the BLAND bill to vote.
The views of the GLOBE have been
stated with great fullness on this issue
great many times, and it has never
wavered frOE them. The GLOBE and
the overwhelming majority of sensible,
thoughtful people in this community
believe in bimetallism, and therefore in
the free and unlimited coinage of gold
and silver. The use of asingle gold
standard appreciates the purchasing
power of the one metal until the pro-
ducerS of every other commodity are
oppressed for the benefit of the owner
of gold. The change to single silver
standard is fraught with many dangers,
because it will upset values and in
duce period of speculation and infla-
ton, the evil effect of which will be
very serious. The employment of gold
aud silver side by side as the national
currency is an object worthy of the
most earnest endeavor. This would
diminish the demand for gold and arrest
its tendency to appreciation, and, in
creasing the demand for silver. would
raise its relative price. The expansion
= tI1 ftr,0 fol IN
speak, would neutralize each other, and
we should secure stable measure of
prices and medium of exchange. This
is what we want if we expect to success
FULLY solve the currency problem.
The GLOBE is opposed to our present
laws because they provide for god
monometalism, which is bad thing,
and also for currency based on gov
ornamental fiat, which is worse one.
The GLOBE is opposed to the BLAND
bill because it proposes to Introduce a
single silver standard. Between sim
gle gold standard and a single silver
standard it is hard to tell which is the
more Objectionable. 1t is choice of
evils. Both are unfair, both are dishon-
est. But there is no advantage, appar-
rently, to be gained by changing from
one to the other The transition would
be likely to unhappiiy disturb the bust
ness interests of the country. The
GLOBE does not think that it would
bring ruin and widespread disaster, nor
does it take much stock in aualogics
drawn from the experience of the South
American republics. The United States
| have survived an era of paper money,
and have enjoyed considerable pros
peri:y under the indefensible SHERMAN
silver law. But, in its opinion, the
ideal should be bimetalism, and any
measure taken should be one calculated
to advance towards this goal. For this
reason the BLAND bill does not seem
like wise plan. But nothing can be
more unwise than vacillation or indie
cisiou in so important field. Let us
have a free debate and fair vote, and
find out where in the world we are.