The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-06-28
WHY MR.. CLEVELAND DELAYS
HE WANTS TO GIVE CONGRESS an
OBJECT LESSON

Believes thnt tho Sherman Act Could NOT
Be Repeated Now, but that lie Can Win
f the Session IL Put oG-O:iaion- In
Washington ON the Situntion-'rhn Mar
quis of Lamd,uno Tells Why In-
din's silver Coinage rIn. Bsrn stopped.
WASHINGTON, Juno 27-During tho discuss
sion Of the financial situation Mt tho Cabinet
meeting to-day the fact was developed and
commented upon thnt the uncertainty ns to
whether q bill to repeal the sherman law could
be passed BY the senate and House II the
only cause for tho Discrimination OF tho presi-
dent to call Congress in extraordinary session
at once More than one member OF tho Cabi-
net did not hesitate to expross tho opinion
that II repeal bill could not be passed.. and one
OF these opinions comes from tho ost radical
antisiver man among the Presidents Official
advisers.
The fear that a failure TO rcreal the Sherman
law would have n more disastrous effect unon
tho country than the present SUSPENSE is what
has caused the President to hold in Allowance
tho advice OF bankers and other expert nnan-
clers. which has been SO freely given over since
the 4th OF March, and which has been more
than ever overwhelming and persistent during
the past week or ten days. Congress would
have been called in March and 1t would be
called now II tho President felt assured
that the sherman law could be repealed.
He is quite skept!cal on this important
point now. and Is not inclined TO depart from
his announced intention TO coll Congress to-
gether in September In the moan time 1t 10
hoped the necessity Of stoppngo Of silver
purchases will become 20 apparent that Con.
gross will feel called uron to afford the re-
Qulred relief at onrc.
Ono effect OF tho action OF tho Government
nf Ind hpa hna fy,r fl,a 40, a fpr
m early session OF Congress. and this view
OF the situation was presented to Secre-
tary Carlisle this morning Ly many OF his
Congressional callers and by numerous
telegrams from all sections OF the coun.
trr Before going to the Cabinet meeting
secretary Carlisle received u cahlegram from
London announcing a further decline IL the
price OF silver TO 3j pence. At this price Il sill
yer dollar is worth 5SI cents.
Senator DoIph OF Oregon. who Is the only
Pacific sloro Senator in the city. said this
morning: lam opposed to my colleague. as
you know. on tho subject OF free coinage, and
am In favor OF maintaining all the currency on
par with gold but It seems to mo this action
Of the Indian Government will diminish in.
stead OF increase the prospect Of passing re.
peal Of tho Sherman law by the Senate. !
think tho effect will be to mako thoughtful
members Of Congress hesitate before they
further derrccinte the value OF silver by sud-
denly throwing upon the markets OF the
world tho four million fvo hundred thousand
ounces OF silver. equivalent to nearly tho
whole American product. now purchased and
stored by the Government. / do not know
that anything better than tho repeal OF tho
Sherman act can DO done to relieve the situa-
ton. but am fearful that the repeal Of that
act would DO disastrous to the finances OF the
Government and to silver"
Representative Anderson Of West yir1nia
said tho action OF the Indian Government
greatly embarrassed the situation here. He
was FREQ silver man. but ho believed tho con.
ditions ut this time would have to he consid-
cred In any legislation on tho subject: that wo
could not leEisln:e on the conditions OF ton or
twelve yenrs ago and that Congress- would
ind them. and not upon theories IL thought
- great many silver men were tisnosed to
detail could not yet be Determined "n.
4. Heprresen; atiye Meredith OF virginia thought
substitute for 1t.
Ini sa Gn M f Toan. rne n
"throws a good many more difficulties in the
not
h ,oT h BE- s sss bill to him
think how much the decentralization o. silver
question in, my mind about the propricty OF
revealing the sherman law. but We have got
nae and Th S1p vonm OF eod Is
not Sufficient and the dsiice9cy has got to be
Congress did so on their faith that at the b be-
ginning o. this C0nEreT the cent tax On
shSnid not have Ssen sHnploa and was % sos
Sank FAX and votSd u neans p' the q repeal %" II
the Sherman law. It is not silver. rer SO that
s ss 9aosSs want h Pn s eos.as. .Syu
have been called together in April. and now
wss should get together ns snon as possiblc...,
to repeal tho She she rman law md tho law LAYING
and to provide for the free coinnge OF silver at
sa az ay win s"d
the Anne ricnn Bimetnlir lergue, whose head
qaartors are In Washington. Ho snid this
ttopEsgs Of the s"InaE" Of silver in
E"se T 0s isr be- Begun in isa lie
Western world. 1t. is the second act In the
dosp.sSat Si and Vii So FAR reaching 10 its
the III ct si are H by by s EHse
together with the determined purpose Of The
monometaliists OF this country to repeal the
Sherman act as events fraught with greater
danger to man than anything that has before
tranapired within this century.
What becomes now OF the claim that the
United States must stop the purc hasa 81 silver
tionnl agreement England has detarninsd.
II possible. to force the repeal OF tho Silver
ing Of the mints OF Bombay and Calcutta IL a
part o. u gigantic conspiracy to seize upon tho
present opportGnity to establish hunlIv and
iorever he single gold standard. and TO extend
II over the world.
faster than eyer. Prices will soon hc.in to fall
in India. The whole world In time will feel
III. effect q the contamination OF this last ACT
TO fall everywhere as gold rises. The end no
one. can see. Every advantage will inure to
creditors and creditor nations. England has
set out to suhdue tho world. not with arms. but
with gold nN turning ever Hing 10 gold y n