St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-04
CLEVELAND AND THE DEMO.
CRATIC SILVER POLICY.

In June last the GLOBE, under the
caption what Is the Democratic Silver
Policy?" commented editorially on an
interview with prominent Democratic
senator who declared that, by his then
recent silver letter. Mr.. CLEVELAND
had put himself in opposition to his
party. The GLOBE insisted that the
power to declare the party policy re-
sides solely in the national convention
of the party, and that, as no convention
had adopted coinage policy different
from that which the party had always
adhered to, Mr.. CLEVELAND could not
be said to be in opposition to his party,
as the views expressed by him were in
harmony with the traditional policy
of the party. The GLOBE went on
to examine what that policy had been,
showing that it had been guided by the
principle that it was the sole function
of government in the matter of coinage
to examine from time to time the world
wide commercial values OF the coinage
metals, and determine if there had been
any fiuctuation in the value of either;
and, if there had been, to readjuSt on
the basis of market values their relative
ratio, increasing or decreasing the num-
Der of grains of the one which should,
when coined, be the legal equivalent in
value to the other. Having done this,
it had no other Office to perform save to
provide minis for the free e0incge OF
the metals on the basis established,
leaving to the people entire freedom to
art I'M inf fr,
it as commodity, as they might see fit.
1t further suggested that, if when the
next national convention assembled
that body should conclude that the con-
dition of public opinion required
declaration by it Of the coinage policy
the party would pursue if intruSted with
power, at is more probable that it will
declare that, owing to the present I'M
stable value of silver. it is ineXpedient
at this time to disturb the existing ratio,
but that the government should provide
for the free coinage of both gold and sill
yer OH the basis of an exchange at the
minis of the bullion of either for coin of
a mint value equal to the market value
of the bullion deposited, while it would
pledge the government to a renewal of
the efforts to induce the European ma
tons which have demonetiZed silver to
agree to its restoration. This would
provide for the unrestricted coinage of
silver without giving to the bullion
owner bonus above what his product
was worth in the market, and it would
recognize the general opinion that the
unprecedented fall in the value of silver
is transitory, and may be remedied by
the wise and united efforts of the COM
mercial nations. There is nothing in
anything Mr.. CLEVELAND has said to
warrant conclusion that he would not
coincide with this policy, and there is
nothing in it any Democrat can OBJ
ject to-"
Z. j. SMAILEY, secretary of the state
Democratic committee, sent at the time
copy of this editorial to Mr.. CLEvE-
LAND, to which he made the following
reply, the publication of which is now
rendered opportune by the introduction
of extreme free coinage bills in COLI
gresS and the present discussion of the
question. The letter is as follows:
BUzzARD's BAY, Mass. July .. 1S9l.-P. j.
Smalley Esq.-Dear Sir: Please accept my
thanks for your recent letter and the
editorial from the GLOBE which have been
forwarded to me here.
lam very much pleased with the GLOBES
article. 4 little more such doctrine would
do great deal OF good.
1t is very strange thing that just at this
time, on the very heels of a new. demonstra-
ton of the strength and sufficfency OF
principles and behefS which we know are
Democratic and right, there should be so
much willingness to follow lights which, if
not false and set up for our destruction, are
by no means thus far recognized as Demo
cratic, and which are by no means certainly
known to be right.
Every citizen who loves his country and
every Democrat who loves his party ought
10 pray that the question to which you refer
may be considered with reference to its re-
lation to the good OF the country and the
conscience of our party, rather than in the
light of temporary and dangerous expedi-
eney. Yours truly, GROVER CLEVELAND.