Milford chronicle., 1893-11-17

IHE N6tU " LftVW"c 10 SSASA
ally pretty level on National ques-
tions, and its leader on the outcome
of the great struggle over the silver
repeal bill is worth reading-sO we
reproduce it below. The Tribune's
position6n bi-metallism will not be
endorsed 10y the majority OF our
readers, but it is well to know the
opinions and arguments ofeven those
with whom we disagree. Relief
to the country from financial agita-
ton has probably been as beneficial
as repeal was hoped to be by the
anti-silverites. The Tribune says
The weary war of words in the
Senate has ended, and the Repeal
bill has passed in spite of determined
opposition for two months by a MAJ
iority of Senators. The thirty-nint
Democrats who signed q compromise
bill, and the ten silyl II Senators, and
- four Populists, were a majority
7o,ssss 9st e cause delay, as was
sEftie )ated. Thanks to the
5ess of the Republicans and the
President a dec ion has at last been
reached which OIL ht to help business
not a little. Only by the patriotism
and steadfastness Naf the Republi-
cans has 1t been madeNpossible to re-
neal a measure which republicans
| were compelled in 1890 70 pass as
| the only way to prevent 81 s4mething
worse. Had they yielded in the
least. when thirty-nine out of forty
| five Democrats agreed to compro-
mise, it is plain, as Senator German
declared, that the Repeal bill woald
not have passed. The Democratic
Header has tried to cast the entire
responsibility for the repeal upon the
7 Republicans. The vote in the Sen
r ate-43 for repeal and 80 against i
-. substantially the same vote by
which free coinage was defeated las
week-proves that they accept thu
= responsibility.
r Two sets of prophets have in
q formed the country what fruit thi
bill will produce. Optimists in spec
ulation, and men whose only polit
. cal opinion is worship of the Pres
dent, are sure that the repeal wi
Ie usher in an era of the grandest pros
E. perity ever known that stocks wi
is advance, prices rise, failures CEASE
.F trade revive, and the wheels in mill
now silent will everywhere begin t
' Hturn. Everybody hopes it may b
le true. The silver Senators and thei
TO supporters in the Democratic part
" make other predictions. They pr
= dict that the suffering of mankin
4 will surprise all past records Of di
Ih aster; that India will shut out silvC
n bv a duty; that the price will fall S
IT. far as to close all our mines; th'
A. this further disqualification of silvt
= as money will depress prices of pr
" ducts and labor throughout the ci
re iIized world, and that the sufferin
lg and loss in this country will be {
fl. friehtful that at the next opport
ID nitv the people will turn to free 81
:. yer coinage for relief
- - The truth is probably to be four
IL between these extremes. The qua
ly tity of coin used as money in Il
of commercial world no longer max
"a. prices. Confidence counts for mo
millions than coinage Busine
" makes money for itself, when it h
y. the assurance of stability. Silv
M may decline in price, without affeC
n ing to the smallest fraction of ce
-, the value of any dollar exchangeab
for gold. The silver States may fin
ss the wheat States and the cott'
States are now learning, that it pa
, best to produce no more of part
NJ ular product than the world require
n" and that so 900, OOO-ounces of sily
rer may bring more money than go, 90
A 600 ounces. Nor will it be in all
Il spects disaster to most Of the S
" ver-producing States if they Q
an pushed by the progress of events
nd rely more on agriculture and maj
Of factures and less upon the hazardo
.ea ventures of mining.
It is not likely that all the brig
=" hopes of the optimists viii be
ak allied. Fhe troubles Of trade a
lot industry have beep due in part OF
ny to uncertainties alput coinage a
er currency, and even those uncerta
ties have not been ENTIRELY remove
~ There is still t9TS prospect that sol
slif Of those w,zkALN9 veted for rep
ere Of the psacAs. g ~. act, like Senai
les Hp <mbr EOceed at once
icy