New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-27
TIE REPEAL Bill.

The great debate is over, in the House AT
least. and il is hoped that on Monday it may
be followed by vote so decisive as to lessen
the delay in the Senate. 1t can hardly be saId
that the arguments in the House, however
able, have Influenced many votes In Congress-
or changed the opinions of many men else
where. Repeal has been advocated by all sorts
of men: by some of the most worthless and
dangerous as well as some of the most patriotic
members by some cranks and fanatics, dcma-
gogues and INSCRIPTIONS trcksterS, as we'll as
by the purest and ablest men and the reasons
given have ranged all the way from the depths
of folly to the heights of wisdom. dis
cussion under such peculiar circumstances has
less educational value than Congressional de-
bates usually possess. The measure itself had
become a necessity, and the people saw 1t be-
fore Congress met. The meaning of the de-
bate. in most cases, is that members have been
irving to reconcile their inevitable and proper
votes with the laundering financial notions
they had previously avOwed. No one doubts
that the majority in the House for repeal of
the silver purchasing clause Will be large. The
"new ratio" project has entirely broken down.
at least in that body, as it has in all reasonable
his wildcat bank scheme affixed to the bill in
the Senate remains to be seen, but If he does
it should only defeat the measure for time.
As it stands the measure is useful and highly
important one. which should be passed without
the delay inevitably attending an attempt TO
decide upon general monetary system.
THE TRIBUNE has believed it a great mis-
take to represent this repeal bill as a sufficient
and sovereign cure for all financial evils. But
to infer that its passage therefore has seemed to
THE TRIBUNE undesirable is mere fOolishness.
Silver purchases have not done a hundredth
part of the harm many persons suppose, as Will
probably be discovered after those purchases
have ceased but people have come to believe
that they did great harm, and that alone is
reason enough for stopping them. Moreover,
THE TRIBUNE was one of the earliest to urge,
when it became apparent that Great Britain
would consent to no reasonable adjustment at
the last International Monetary Conference,
that the United States ought for that reason
alone, If there were no other to stop silver
purchases at once and to let the world find out
Just where 1t would stand with no further
effort by this country to help Europe out of
trouble This reason for repeal is quite as
cogent now as it was then. In fact, il has be-
come even more important since the action of
the British Government in suspending the coin
age of silver in India.
Obviously, this reasoning does not imply that
cessation of silver purchases will be an unmixcd
blessing Neither is it likely to bring half the
relief which mon are now expecting from it.
But all this does not alter the fact that it will
bring some relief, that it will tend strongly to
restore confidence with those who have come
to look upon these purchases as the cause of
all caamtics, and that it is the right thing to
do for the business interests of the country as
well as for the honor OF the Government. Pres
idcnt Cleveland fully deserved the unstinted ap-
prova which THE TRIBUNE gave him for pro-
posing this step without conditions, and he will
now enjoy the satisfaction of seeing his worst
opponents forced to vote as he desires. Tho
measure ought to be passed. and undoubtedly
will be passed IN both houses, and it may be
hoped that the President will then see the ne
cessity of removing other causes of business
anxiety and depression.