New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-06
REPEAL NOT 4 PANACEA.
GEORGE TICKNOR CURTIS'S VIEW OF TIE
FINANCIAL OBSERVATION-DISCLOSURES
NECESSITY.


To the Editor Of The Tribune
Sir No member OF the Senate appears to me to
have had so strong and firm a grasp of the Imam
ciaI situation the country as Senator Sherman.
II is unfortunate that d majority of Senators could
not have been found who would be willing TO adopt
and follow out Mr. Shermans views. Sooner or
later his views must prevail not because they are
his but because they sound The diflcuity
hitherto has been that a majority Of the Demo-
cratic Senator's seem to think that the Senate ex-
lists to register the DEGREES of the Executive.
great deal too much Difference has been PAID 10 the
supposed real wishes Of the President ana the
Secretary of the Treasury. The Senate ought to
have passed a Bill. not for unconditional repeal OF
the purchasing clause of the Sherman act, but n
bill for such modification Of it as majority
would agree upon. Such bill should have peen
sent to the President be signed by him or to be
returned with his objections. without inquiring
beforehand what he wished to have done ,
Mr.. sherman is quite right In saving that the
Repeal b in IFS present. shape VIII not meet nee, IN, me
expectations of the people; The truth Is ,h't Ine
present disturbed financial condition Of the Coy
law which directed the Secretary of the treasury
TO purchase every month certain . amount mt 81 81
cratic party. That party saw fl to MAKE To-, var ar
their platform unconditional repeal of the pur-
chasing clause of the sherman acl' wilnou' Ply
very naturally alarmed the silver producing S'a"s
n addi,9n to ms tne hat pro-
tecive tarin which means tariff that protects
our own Industries against the Injurious ensclS
OF foreign competition Is unconstitutional This
not only alarmed the manufacturing interes,s,
but. by CAUSING a widespread belief that we were
to have system OF free trade introduced. hec"Ss-
sariy made stoppage of work and threw hundrcls
of thousa nds OF out of employment Inc
Democrats in Congress now have before them the
task OF framing "a bill which viii satisfy the coun-
try We cannot have restoration OF our former
prosperity If the principle and practice OF protect.
Ing our Industries are to be oV"rthrown. IT
the issue again squarcly put TO the people
Of this country. they would Overwhelmingly vote.
not. perhaps. for the retention OF all the features
Of the Mckinley Tariff. lat FOR "A clear practi.
cal and sensible application Of the principle 3i
protection. The cry for fHrin Tor revenue ony
is simply nonsense All duties are laid on Foreign
merchandise for the purpose Of raising revenue
for the uses OF tn Government: but In raising
that revenue the incidental object Of protecting
our own Industries l. lee.iimately reached by 50
discriminating between tho products OF our own
country and the products Of other countries as 10
prevent our own people from being injured.
An unconditional repeal bill has now passed the
Senate and will soon. doubtless. become a law. II
is better for the country to accept a bad measur"
than it is to be kept longer IN state OF un-
certainty. Institutions and individuals having
money 10 lend VIII row lend II freely. because n"
scarecrow Of II" Sherman act Is out cf their way.
but the legislation cannot long be left where THIS
repeal Will leave II. . .,
GEORGE TICKNOR CURTIS
New-York. Oct. 81 1893