Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1893-11-08
WHERE DOES REPEAL LEAVE Us !
A Fair and Conclusive Review of the
Effect Of Repeal.

Where does repeal leave usp That is
the question every level headed finan-
cier, every thoughtful business man,
every hopeful manufacturer, every
careful capitalist and every honest and
hardworking wage Garner will ask when
he reads that by the aid of Republican
votes the Democratic Senate has at last
repealed the purchasing clause of the
Sherman Silver Law. The idolizers
and worshippers of Grover Cleveland
and gold monometalism will, of course,
see the dawn of better times with the
rising sun this morning and any bouy-
ant tendencies in the financial and in
dustrial world will be chronicled in
their organs with flamboyant headlines
as the immediate and direct result of
repeal. In short time this rejoicing
will come to an end and we shall have
to face the real cause of our financial
and industrial troubles.
The advantage of position after the
battle is undoubtedly with the Repub-
licans. When Congress assembled
there was an almost universal feeling,
east of the Mississippi River and north of
Mason and Dixons line, for uncondition-
al repeal. The pervading sentiment was
that the Sherman law was to blame for
our financial difficulties. The ill judged
utterances of Secretary Carlisle, the
wanton folly of President Cleveland in
forcing his object lesson on the coun-
try and the shadow of the revolutionary
Chicago platform, which brought pa
ralysis to our industries, were ignored,
and for few weeks the people of the
East seemed momentarily possessed
with thu idea that the Sherman act
was at the bottom of their troubles.
The repeal of that law at that time
seemed necessary, and in the midst of
the excitement and panic repeal was
passed after short debate in the House
of Representatives. Further considera-
ton and long debate in the Senate has
brought out clearly and conclusively
the fact that the present distrust, dis
tress and business depression are due
not to the Sherman law, but are the di.
rect results of the deliberate attempt
on the part of Mr.. Cleveland and his
party to overturn the entire fiscal policy
OF this nation; to destroy policy that
has made the nation great and prosper
ous and given employment, good wages,
happiness andcontentmentt to all classes
of wage earners.
The Republicans who voted for re.
peal know that good times will not fol-
low their action. They know that
without the issue of bonds to maintain
tn parity between the two metals and
prevent further encroachment on the
gold reserve, business will fail to return
to it's former condition of prosperity.
They know that without some addi-
tional financial legislation that will be
firm and safe, and at the same time
bimetalic, the currency question will
never down. The Republicans voted
for repeal because the Democratic party
was rent in twain on the question, and
because it was the only way to break
the deadlock and demand statesman
like legislation that shall be fair to all
sections of the country. Throughout
the debate in the Senate the Republi-
cans, standing as they have done for
honest money and just legislation, have
been handicapped in this, that the
country has accepted as reason for
the financial distress the purchase
clause of the Sherman law, when the
real reason was the Democratic success
last fall and President Cleveland g utter
incapacity TO deal with the financial
issues that confronted him. That i'm
preston will now be removed from the
minds of the people, and they will soon
see that it was the Democratic Admin
istration, not the Sherman law, that
was depressing them.
Under the circumstances, there was
really nothing left for the Republicans
to do but to stand quietly and firmly
by repeal, though they should, in the
opinion of The Press, have coupled
with it Senator Sherman's proposition
to issue 100000, 900 worth of bonds.
Next to a settlement on a reasonable
bimetalic basis this outcome would
have most helped the financial side of
our troubles. With the silver Republic
cans refusing to accept any sort of
compromise short of free coinage, it
was impossible to do otherwise. The
compromise patched up at the eleventh
hour by the Democrats was repudiated