New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-22

the new Administration il may be taken for
granted that the feeling about 1t among souhu
and conservative business men OF all par'ieS IS
by no means favorable. With every disposi-
ton TO lessen and not increase Sccrctar! Oar-
isles embarrassmcntS. TIE TRIBUNE assures
him that TO more discrcditing or disaS'ionS
thing for the new Administration could happen
than a failure t, redeem lcgal-tcndcr noteS'ln
cold within the first two months of its term
No conceivable motive. or combination Oh mo-
tives. will justify the tremendous FISK ana loss
10 which such step would expose inc lhdu>-
tries and the trade of the country. Oh inc
very face OF things il is not true that inc powers
Of the Treasury to MAINTAIN Soid pay menus
have as vet been exhausted. Secretary carlisle
virtually admits this; the reserve OF Sloo'-
90 900 has MT yet been used Tor the pui
roso ~ which if was devoted. nor have United
States bonds been offered for sale. 1t may DC
thought that no such measures would meet inc
emergency. But the Secretary cannot kno"
this until he ha, tried them, to some extent III
least. In his published statement he frankly
admits the Obligation and declares the purpose
of the Administration 10 maintain as far as
nos.ibe the parity of gold and silver, and 1t
docs not appear within his right to abandon
This effort while obvious and possibly adequate
means to that end remain untrlcd
There are many of the able't and most eN-
pericnced tinancicIs in the country who iuliy
believe that if $50, 100000 or $4,000, ooo OF
the cold reserve were poured ont freely, III re-
snonse TO all demands for redemption Of notes,
those demands would speedily cease and eX-
norris of gold would be so far reduced aS to be
no longer embarrassing Their reasoning il
based upcn the belief that foreign capital, with
drawn TO the amount OF many millions from ms
country within the last six months, would re-
turn hithcr eagerly for investment IL inc de-
termination and the power OF Government 10
maintain the gold basis were manifested. These
6nancicrs may be mistaken. but some OF them
the Democratic party would assuredly consider
mite as qualified to judge in such matters as
tho President himself 1t is the general judg-
mont that Mr.. Carlisle is bound to maintain the
rsrity of gold and silver and has no right u
take step which instantly discriminating De-
tween the two metals. will immeasnrably IN
crease the difficulty of continuing the redeihp-
tion of any part Of the legal-tendcr notes III
gold.
In very large degree because OF apprehen-
sion that he means 10 take this STEP gJld was
ordered for export to-day and for shipment u
Canada in amount exceeding S5.O0O.OOO. lhe
banks and the business world have been taught
nv the Administration itself. and by Journals
and dispatches which appear t. represent H.
tha: gold payments may be stopped today or
any day on part OF the lcgll-tendcr notes. The
evident consequences If refusal by the Ad-
:.,;.,.o,;,, 4, maintain the uarty OF gold and
silver are so serious that the fall III Stocks III
cotton, wheat, coffee and other products mich'
have been greater had not many refused - be-
Gcye that President Cleveland would permit a
sicp - d,creditable 10 his Administration.