The state herald., 1893-08-18
NEW YORK "REcoRoER" RE.
PENIS.
Its Eyes are Opened to the Country's
Need OF Free Silver Coinage.


The New York Recorder (Republican),
hitherto q gold-bug paper, came out on the
18th In doublo-lcaded, double-column edi.
torinl declaring for the FREQ coinage Of silver.
Here arc some extracts from 1t:
1.-THE Recorder believes that the time has
come when the will Of tho people must be en-
forced alike upon Congress aud the President,
and the minA Of the United States be thrown
open to tho free coinage Of silver.
1.-THE business Of this country cannot be
done upon purely gold basis There IL too
much business to be done and too little gold
TO do 1t with to Justify the experiment Of cur
rency based wholly on one metal, and that
one the scarcest ind dearest Of the two. The
total disffnchisement Of silver % money
metal, which seems to be the aim Of tho gold
extremists ut Washington, means n violent
and ruinous contraction of values. The mere
threat Of 1t has already given the frat sharp
twist to the screws Of contraction. To per-
sist In the total elimination Of silver from our
currency 10 madness. The lead Of the gold
monometallists has been followed far enough
II Is time to call q halt and demand that sil-
yer shall be put back In the place II held for
eighty years from the formation Of the gov
crnmcnt down to 1873, and be again made ono
Of the two main pillars Of the American eys-
tenn Of currency and coinage. 1t Is evident
thHt his party In Congress IL not fully with
the President and will not act upon his initia-
tive unless he will assent to n provision by
which silver shall be retained rs a partner
with gold on just and fair ratio in the
metallic basis OF tho nations money.
ITO postpone the definite rcndjustment OF
our currency laws, leaving silver demonetixcd
and It's use ns n standard money metal wholly
prohibited, would, In the Recorders opinion,
precipitatc financial and business catas-
trophe compared with which nil past panics
would seem TO have been mere bugabOos.
Absolute gold monomctallism means ruin
universal and unsparing for the people Of
this country. The single gold standard has
never been sanctioned or desired by the poo
pic Of this country. Their will has been over
and over again expressed TO the contrary At
every election and In every Congress for SIX
teen years Past Their determination that
silver shall not be outlawed ut tho minis has
been clearly and forcibly shown by over
whelmlng majorities In both branches Of
Congress. TWAS never stronger than ills to-
day.
''The clnmor Of tho money changers, the
usurers and the stock gamblers, inspired by
the English Influences that radlate from Lom-
bard street and which represent the organized
rapacity Of the world, has not shaken the
faith OF the American masocs one iots In the
honesty, the business, the fairness, aud. above
all, the vital necessity Of maintaining silver
side by side with gold In their national money
system. There may have been change In
the relative measuring values OF the two
metals. That has often occurred In the course
of history, but that change, whatever II may
be, can be corrected by n change Ia the ratio
Of coinage from the present 10 to TO, say ~
or even 10 1. It docs not Justify the total
abolition Of silver as standard money metal
England ia reported 10 be at this moment cx-
changing her gold for Indian silver on the
basis Of 90 to 1, showing that even the lead.
Ing gold standard country recognizes that
silver possesses an exchangeablc value With
gold at some ratio that can be fixed, and we
may be sure that the Bank Of England In TX
Ing II At g to has been as unfair to silver
and rs partial Ia gold as II dare TO DC. The
money power has spoken for gold monomct-
allism and Mr.. Cleveland seems TO be its ex-
ecutivc echo. Now let the people be heard
and Mr.. Cleveland be clearly Informed that
Congress, and not he, represents the national
will on this matter Of admitting silver as we'll
rs gold TO the minis.
"Bad rs business Is, II would become In
single gold standard movement and surrender
the cause OF silver. Such = surrender would
mean disaster TO all classes except the vul-
lures that always flesh their bcaks deepest
and gorge themselves fullest on n field that is
strewn with the Victims Of q vast commercial
and Industrial calamity. The merchant and
manufacturer, the big business man and the
email tradcsman, the great mas alike OF esn-
ployers and employed, the professional man,
the brain.uorkss, and The brawn-Workcr, and,
more than all, the laborer and the wage
Garner In every occupation, will all be drawn
down together In tho vortex Of contraction, II
silver 10 outlawed. To make gold the sole
standard and the only currency 10 TO diminish
the volume Of our money by one-half. That
Is contraction, and contraction means the
complete paralysis Of all enterprises, the utter
collapse Of credit, tho complete prostratlon
Of trade from New York To California, and
the consignment Of myriads Of working pco-
pie 10 every city and state In the Union TO
idleness and starvation.
The Recorder pleads with all Its power that
this whirlpool Of contraction may not be
opened. II silver be not restored quickly 70
free coinage, the most optimistic man cannot
look forsard six months without fear. NIL
lions Of unemployed. wagelc-s men. with their
wives and children crying for bread that can.
not be earned for them, Will he hard TO reason
with. hut they will have 10 he reasoned with
II silver l. outlawed from the mlnts, and II
will BE- Idle 10 tell them that Il was thought
best TO starve them In order To place the
country on the ZANE gold standard footing rs
England. Repeal the Law Of ls!o, reaimii
silver to free coinage nj new and reasonable
ratio, and do II quickly