New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-03
A TALK WITH LEW WALLACE.
HIS VIEWS on The FINANCIAL SITUATION.
HE RELIEVES THAT THE GOVERNMENT SHOULD
ISSUE 1900 600 eco OF BoNDs-rHE TARIFF
SHOrID BE LET ALONE.

ISSUE 800 600 oco OF BoNbS-iHI iAr'if'
SHOULD BE LET ALONE
What is the country coming TOT Where Is rehei 10
be sought! What will Congress DO to remove the
present distressing conditions under which ihnus,rs
and commerce are aboring' A Tribune reporter
asked these questions Of General Lew wallace III ''c
corridor of the Gilsey House yesterday.
QUEEN sabs- answered the General, but II you
will come up to nv room | shall be glad To 'aE
things with YOU
General Wallace Is in this city business con
neced with the publication Of his latest book, The
Prince Of India or. Why Constantinople Fell. an
historical novel which is to be Issued shortly IL Is
tn he the longest work which he has put OUT there
being two volumes OF about 500 pages eacn. IL
represents Ave years work.
~Ancnt the opening Of Congress-" said General
Wallace when he was comfortably seated IN his room
the repor or. there threa IN ions which nat
urally arise What ought Congress To do What can
these wise do What will they do Ihose
questions would make a good text for Il sermon
speaking generally. Congress ought to take 'mmc
date action to restrain the tendency 10 the bowwovs
on that point 1t occurs to me that there VIII be sch
an aggregation Of wisdom al this present session that
It Is extremely doubtful II what ought to be done
win be done.
Whatever Congress doe, It should do immehh'fN'
Many people OF the opinion that the trouble "","
has fallen on the land Is due TO the silver ao'-"e
sherman law While that NAV be set down aS par
Of the cause | think il is not all the cause. were
member of Congress | shond certainty NY "
bring about "A repeal Of the purchasing clause OF tne
sherman law. should go about 1t very cau'iouSN'
however keeping In mind that the immense accihi"s'
ton of silver which the Government mas Nins " w
nocnous desuetudc should b. protected rs lar ~
Possible III the next place, being n proecuom'' "n
general principles, should say that the measure "hlch
Congress adopts should have steadily In view the III
du nj hardly think ANYBODY Will u'iiS
that II IS u meritorious industry which ought not 10
he destroyed Asie from the fact that silver II III
article OF commercial value. there are thousands ana
thousands Of men employed In the mining OF sh'T'
reducing the orc etc. who should under no circ"h'-
stances suffer more than Is actually required III
the silver men present ti, view Of the case In Con
gross they will have meroious argument, and no
doubt will obtain "A candid hearing from the majority
Whether they will be wise enough to put that limit 10
,h.Ir demands remains TO be | am afraid they
will not.
That brings us to the question; 'Whit VIII Ton
GROSS do am very much afraid that there VIII
he great excitement in the extra session ana party
linz viii he drawn 80 taut that II anything Is accom-
Mi he'd nj all II will be delayed that the bottom
viii be reached before anything Is really uohe' i"e
first trouble will with the Adoption oil the ru''s
The majority will doubtless push for rule winch
will enable the House to bring the dispute u
s,..dv close The minority will resist OF course.
an avalanche OF bills. 1t looks as II tnere may w
"a many hills as there are members responding 10 the
roll call Who shall pretend TO DIVINE out vi ''''
mass OF projects, all the difficulties OF the situhuon
considered the cagerncss and bitterness Of parties
what measure will be adopted or when! Meah"'h INV
the people the bankers and manufacturers anu Tue
thousands and thousands Of employees VIII suner
1t is hardly worth while on the eve oil 'hiS Ses
lion Of Congress to borher about the cause oi '"'
financial troubles In this country. The wise man.
sincerely wishing for the accomplishment OF wise
measure looking to restoration OF puDhc cohhuehoe'
uill do as little Of elimination and recrmua'ioh as
possible for that would BE- but TO eXaspera'e the
different parties But If | were called upon 10 s'a''
what originated our present calamities should say
II WAS the failure Of MIR. Cleveland upon MS accession
to the Presidency ted the public his Views WISHES
and nolcy Had h. attempted something OF that
lind I'm his inaugural during the many opportuh-
lies which have presented themselves since the 4th
Of March last. had he attempted 70 oenhe ""at "e
thought best do under the circumstances Is III,
candid Judgment that the calamities upon us "oulu
not have been 80 general
As II Is, II Is probable that no state paper was
vor Looked forward With much solicitude as Is
hi, message to the forthcoming Congress lie may
advise Congress as to alhy the i'ar' Oh 'he pun
lie Whether he will succeed in accomplishing l"i'
remains To be seen ,,u
what place do you think should BE- given TO silver
! n
porter. Ill
- would give gold. silver and paper currency all
, nl,c. | am In favor If Il system which shall nave
| c,d for "A basis. The United states 'houlu "o' "
placed in the position of silver power eA'i"sN
There are Two point, be- kept constantly IN MIND
ON, +. that silver collage TO some extent l. coir
aercial necessity OF nj, country Ie o,ner H. ,'',
| ali the nation, Of tn" worl4 NJ" TO-DAY U'"u"s ~
gold. IN. 81. -. ,o uv. ana flourish in
depcrIrnth Of other pc0pls, we couia es,aD"' t,,
purely silver crrn,i' hu, 'ne iran. ,ctions
| vim foreign power. it sens To me; cohpei' NJ, ~
whether We h' Il or not 10 nav So'" b1,i b,v.
silver like the paper which W. l1'n' shoIu H. ~
a gold b..L, ana should b" Iee'i ,rni"r ~ IN an
be used cNclu>i'rS 2r 'iG '"" una SlnStratou 81
! to- say. SO mention lp' ~ ah ~ u ,n unr "
vi,ut may be done with great benchi III the way 81
conns r and RELIEVING lr III hyi hs lmmru'e
nanl, Of silver in The pig state to b. EeP II I n
vault, cf the sub w ,ar n Grr To" nt ~
eiNr phrm credit. Their should be- no price fSed in
nmthoiiled 10 buy It Al the market price Whenever
mmd in whatever punniilie~ 1t wa" WanIsi a tho
presrni moment IL il worthy Of consideration by ION
sr>, aud by thinking men whfhr' II wo' ~ nol o., De
| noo ~ bonds, That would enabI" iii" Government
| tn nIni,h Itself with supply Of eobi. which wouo
| o,S thr panlc, and to up IA" money market.
That i, tie particular point. ~ see IT, Toward "hisn
nos lille Wnat would be- $500 100000 added 20 the
pubic debt Of thi, country mere bag@tein
| In permanent good depend, In great decree on me
,r,icr nf the legislation by Congress on other SUD
irct, especially the tariff. for II Is not To b" over
| Looked that cause OF the present trouble Is ne
Ici,ude NJ IN, peoplc - 10 What will be- done with
the ClTn TO revive the peri>hlng nduNtilc, oi TINS
country hink it is best for th" present 'ongrrn'
not TO tinker with the tariff for Il, ! read hiS,or\
| the prodg ions advance IN manufacturing when j.
| 10 dnv a feature. characteristic. may say Oh our
people, Is due almost entirely to tue principe , %
| Protection. Adopt Free Trade and great many
/ won't say all-of the manufactures OF TINS country
| Will die"
|