The comet. (Johnson City, Tenn.) 1884-1916, 1893-08-17
WHAT THEY HAVE TO SAY OF
PRESIDENT CLEyELANWs
MESSAGE.
IFS Plea for lhe Repeal of the Sher-
man Act Virtually Unanswerablc,
FOrcible and Clear.

HESS VI pulity, MI. OleNOl''lu message
will fully meet the expectations of the
country. Messrs. Chaplin's and Bal
tours arguments are practically
answered from the other side of the
Atlantic The Presidentlets theianatics
down easily in suggesting that al
though perhaps the largest place
claimed f + silver in the worlds cur
iency may be brought about by gener-
al international cooperation, the
United States will not gain a hearing
whilst trying to bring about the result
single-handed. What our bi-metallists
will say Of this terrible exposure Of the
failure of a great b-metilllc expert
ment, we need not attempt to forecast.
1t will probably exert a great effect up
on wavering members of the United
States Congress and bring about the
complete repeal which The President
advises. The President and Congress
can only r, move the original causes I
the initiation Of prices and the growth
Of rotten speculation which led to the
present disasters. The latter cannot be
Immediately remedied by Congress.
The panic OF 1873 was followed by five
or six years OF depression Unless mat
tiers grow much worse than they are
now, the present panic ought not to
have equally severe prolonged effects y
The Financial News says: "Presi.
dent Cleveland's plea for the repeal Of
the Sherman actis virtually unanswer'
able. The question whether the stop
page Of the monthly silver purchases
would Immediately end the crisis Is
not easy to answer. We are not inclin-
ed to reply off.hand In the affirmative
If the American people show as much
faith in their currency when watering
ceases as they did in the first two
years OF the silver purchases the ef-
feet Of the repeating Of the Sherman
act may be immediate There is more
reason for such faith now than there
vas three years ago"
The Standard comments at length
upon yesterdays proceedings in the
House Of Commons and in the Ameri-
can Congress- 1t says;
"If International bi-metallsm has
not been brought about, the reason is
that the balance Of advantage or dis
advantage is dead againstit. An agree
ment to keep up fixed rate between
the two metals would certainly dc
much mischief. The latest chapter o
transatlantic currency trickery may
be read in President Cleveland's mes
sage. Therein he sets forth, in term
the substantial accuracy OF which can
nbt be contested, confusion into which
the indefinite substitution OF hoardet
silver, always depreciating in value
for the comparatively staple gold coin
age, has involved all transactions 0
which credit is an element The mora
although we do not expect bi-metallist
10 agree with US, is that it is inflated,
safer and wiser to let the metals fin,
their own level, and that il is hopeless
by any artificial, arbitr ~ system t
give permanently 10 silver a value j
exchange largely exceeding It's value
rs determined by the cost Of produ'
ton. It will truly besaid that.Mr Clev'
land eliminates against silver legisli
ton because he owes his election lsrg,
~ to the anti,silver party. But the fat
remains to be explained why the con
munity which had long experience I
the practical effort OF the artificial 81
probation Of silver declared at I'll
polls against the party committed
the continuance Of the experiment"
The Daily Telegraph says 1T
Presidents message is very itrikir
document and goes straight to the ro
OF thd disquiet and stagnation existir
in America. Assuming that Congre
will haeten torepeal the Sherman az
il ii perhaps as well, in the interest
financial stability everywhere, tn
the disastrous experience has be-
gained"
Commenting lhis afternoon on .
message Of President Cleveland urgil