New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-24
THE COMPROMISE CONDEMNED.

THE (OUIEOMINE tO4N DL n-']SH'
It was to be expected that the veteran Sen
ator Sherman would agree precisely with the
opinion expressed by THE TRIBUNE regarding
the latest Democratic compromise The obJec-
tons 10 that scheme were objections OF pf1h-
ciple as well as of practical finance, ana II was
to be anticipated that Mr. Sherman, although
he was the foremost 10 move the repeal OF the
compromise adopted in 1890 and bearing his
name would at once perceive thai Il contnu-
ancc of the act in force even for an indefinite
period. would be altogether preferable TO the
miserable surrender TO innationSts ana NIL
busters which the majority Of Democrats in
the Senate have contrivcd. But Mr. sherman
goes further He not only denounccs this
scheme as a miserable, cowardly makcshlft, but
he proceeds to say:
Not single Republican Senator VIII cast his
vote for any such proposition II Is far worse thap
the so-called Sherman law OF 1892 AS understand
IT, II is a violation of the public faith. II Is
proposed 10 coin the silver which they have pur-
chased and issue notes based upon scignorage
which is in express violation Of law. This IS
like selling wheat stored in warehouse II belongs
10 somebody else. and cannot be used without Nio-
atng a trust. The Government purchased silver
with notes and It is expressly stipulated in that
law that the notes Snoulu never Dt I'f'N
than the cost of the bullion purchased to redeem
them OF course. Congress violate public
trust IL 1t chooses but that does not make 1t right
BY any means. IL VIII not receive a single
Republican vote. az before stated. IL VIII not
bring about any relief the business interests Of
the country, in my judgment
1t is tolcrably clear that II this proposed com
promise is unanimously rejected by the Rcpub-
leans as IT really ought TO be. It's adoption Will
depend entirely upon the number Of Democrats
and silver or PopuliSt Senator's who can be-
found to sustain II. But Mr.. Cleveland has de-
clared, according 10 definite statements pub
lished on Monday morning, his nnyicdinC OPP
position TO such q measure. lie a,iirrns that it
is not admissible in principle that the pur-
chasing clause Of the Silver law should BE- I'M
conditonnlly repealed. that the lower house Of
Congress voted fer such repeal by an over
whclming majority and majority in the Sen
ate is also in favor Of IT, and that the senti-
mcnt Of the country demands the passage Of
the pending bill The statement adds that
Secretary Carlisle and other members ~ the
Cabinet are opposed 10 the measure. In this
state OF facts IL is To be expected that some
portion Of the Democratic Senators. nj least,
will decline 10 support tho scheme. and prob
ably some who have given II their signature
may withdraw their assent. The influence OF
the Senate and the Cabinet, when united. can
hardly fail 10 find some representation in the
list Of Democratic Senators.
Thus we have measure proposed with the
formal assent Of the Executive Committee Gro
atcd 10 manage things on behalf of the Demo
cratic party, and with the deliberate approval.
expressed by their signatures Of nearly the en-
tire body Of Democratic Senators. against which
we find arraycd a Democratic President and his
entire Cabinet, and every Republican senator
The situation merits the serious attention Of
business men and all who care for the honor
of the country or the soundness of its currency.
regard 10 the action II the Democratic party
which has prevailed ever since it WAS known
that the Senate would be- controlled by that
party. and which has caused Withdrawals Of
ors and from banks throughout the country by
individuals and so has brought about. ~ least
in pnrt. the worst epidemic OF failures and
financial disasters the country has seen for
the opinions and the conduct Of nearly tho
whole body of Democrats In the Scnntc II
remains 10 be seen whether the emphatic OBJ
lection Of the President and his Cnbinct will
suffice 10 prevent the passage OF measure
SO dangerous and offensive.