New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-23
dependent upon the United States for Succo'
and relief
TgOrGHTs FOR SILVER MEN.

Senator Jones. of Nevada will soon be here
to speak for himself. But 1t Is duc TO MIN 10
sov that prcss DISPATCHES from Brussels appear
70 have misrcprcScntcd him. According 10 an
interview telcgraphcd t. :" The New Ork sum-
Mr. Jones thinks the Sherman act ought not
to be and will not be repealed without pro-
vision for some larger use Of silver, ard is not
in favor Of stopping the purchase OF bullion
in order to make Europeans understand ana
g 81 tbo situa ion. II has been assumed that
the Scnat n was in constant communication WIN
other silver Senators and with the chief mine
owners in this country. Ills reported readiness
90 rrpcal the sherman act seemed important
rs well as reasonable But if he opposes the
rcpcal of the silvcr-purhase law, other Sen
ator, ard REPRESENTATIVES who have acted with
him NAV do the same and it becomes doubt
ful rs it was at first supposed to be, whether
any snch measure can be carried in this Con-
orcsS or the next, unless in an emergency and
in the presence of n manifestation Of puDHc
opinion such n cannot now be anticipated.
THE TRIBUNE has pointed out That the re-
peal Of the svcr-purchaSc act, however JuSI-
fled for other reasons, cannot be expected 10
relieve the Democratic party or the country
from the effects of the Democratic victory.
Di,trlst of tho financial future will continue,
no matter what may be done or left und0nc by
this Congress. What the next Democratic Con
grcss may do no man can say until II has ac'cd'
The future will be di>trustcd not merely or
mainly because some silver bill may be de-
yi,cd which Mr. Cleveland will sign, but main
is because the war on protected industries IS
sure e. lessen the confidence OF many in the
industrial progress and development of the
country. and to bring about drain of gold
which, under the new circumstances the couIl-
try may not be able 10 stand.
Senator Jones and many other advocates OF
silver coinage have been earnest ProtectionlSts.
Nav thcy not well consider whether the now
industrial conditions which Democratic victory
creates do not require Of them distinct change
of their position on the silver question? II
Protection i, 10 be broken down, If the OK
pan,.on and diycrsiiicatiOn of industries are to
be arrested, if the country Is 10 buy goods
abroad which have been made here some con
sequences may DO reasonably anticipated,
namely
/. With stationary or rctrograding industry,
there will be less occasion for increasing sup
plies of money. When The supply Of circula-
lion ourins the demand for money in use. tho
tendency is toward imitation of prices which
would check exports
. Diminished foreign confidence in the future
of this country. because of the assaults upon
It's protected industries. must tend to with
drawals Of foreign capital invested here.
g. These influences must tend TO take gold
out Of tho country, at all events much more
rapidly than it would have gone ont if domestic
indu>tric, had been vigorously expanded, sup
plying each year greater share of the needs
of the people, and if foreign investments here
had continued - enlarge.
l. In the now conditions. without cnlarglng
industries additions to the paper circulation
must tend TO accelerate the Outgo of gold. \
measure Of currency expansion which would
have been safe and healthy under President
Harrison and Protection would be dangerous
and problbly disastrous under Cleveland and
Free Trade
These sccm TO THE TRIBUNE sound reasons
for a repeal Of tho ,ilycr-purChase law and OPP
position 20 free coinage. even on the pant OF
those who have hitherto advocated the UNI
limited coinage of silver when industrial con-
di,ions insured rapid development Of manufact-
mcs. Protection, expanding industries and cX-
banding circulation logically 20 together.