New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-22

ESchanse on the basis of from to Is per cent
per annum interest. The continuance oil their
payments Of dividends and interest are as certain
as the continuance of the Government itself. III
Europe believed that we were TO be. and r.,
main on a sound financial basis these stocks and
securities would be bought within few weeks to
such extent that money would so begging Ior
people TO borrow it,
TIE SILVER PURCHASE ACT.
"1he first and at present only condition flor
here sentiment comes in again which VIII re-
lease us from this thraldom Of fear, and bring
to us the confidence Of our own people and of the
world, is the repeal of the purchasing clause of
the Sherman act. BY just the number of days that
Congress fails to do this will the present distress
increase. 1t will not make much difference what
they do afterward. If they do nothing, the
country would not be harmed. or course il is in
one sense absurd that the country should he
absolutely prosperous year ago and in the
present distressed condition this year. The fifty
four million ounces of silver which have been put
into the Treasury in the twelve months
have not caused all this trouble, but as long
as all believe that tho indefinite CONTINUANCE
of this acquisition must be stopped or we VIII
get on the silver basis, the country has liked ITS
mind on repeal as the solvent OF these TROUBLES;
The repeal once effected, confidence will be restored
in our finances. ,o ..,.,
What about the proposed interference WIFI
the existing tariff?
My opinion is that our industries do not necu
to be alarmed. The present revolution Is shihcieht
TO satisfy the American people for some years, ana
there need be no apprehension W,H,e*'r VI any
Congress touching the tariff WEafyer they may
believe, they will not experiment untli inc coun.rA
has recovered and is sufficiently strong 20 Try new
policies Object lessons are indefinitely post
poneI. and teachers and scholars have vacation
of several years for repairs .,
"Would II not have been an ADVANTAGE ii
Congress had met earlier than the date upon which
il has been summoned :?
lit certainly would" said Mr.. Dapew, il for
no other reason than the plain fact that that Is
the only body competent to apply the remedy:
The sooner the remedy. the sooner the cure OF
the disease. and in this instance the remedy can
Tho conclusions. therefore, at which arrive
are that the business Of the country Is on an
unusually sound financial basis. and there is every
thing in the present of Wealth al 0 r
that our prosperity is based on GOOD 1ounia-
tions The repeal OF the silver purchas" clause
will release money here and bring money from
abroad: il will do infinitely more, 1t will per-
nit the use OF the credits which are now so
fearfully curtailed and which constitute % per
cent of the currcnry OF ne comn,rN, ,,,,oa
with several OF tir leaders Of both the great
English parties. There was some himetnllic semi
fa favor the brussels Conference The Liberal
party. however, were a unit for the single GOLD
standard. The most pronounced aayoeitcs OF
that standard in Europe today are Mr.. Glad
stone and Sir William Vernon liarcourt. the
Chancellor of the Exchcqucr The belief among
English statesmen is that with a gold sten1ard
the finances Of Great Britain are always up0n
sound basis. and that london will be- the iinan
cial cenre of the world. They believe this 40
strongly that heard a prominent AMI Influential
English statesman say that. even If Great
Britain had 10 cut India adrift 10 shift for
herself she would hc better with a single than
with a doullc standard. From my observations
and conversations 7 came 70 the conclusion n
year ago and that was before the action IN
regard To India. flat there was not the slightest
chance OF the doublc STANDARD being adopted by
Great Pritain nor. as long she holds her present
position. ~ any Of the Continental nation-'