New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-02
THE EXTRA SESSION.

TIE TRIBUNE is not by any means dlSposeo
70 place obstacles in the way OF PRESIDENT
Cleveland in his effort to restore confidence 10
soreIy stricken business community. we
shall not at this time take issue with him upon
the disinccnuous statement in the call for an
extra session that the dstrust and apprehen-
sion concerning the financial situation Whlch
peryade all business circles and threat
en- to cripple our merchants, stop the Wheels
of our manufacturers, bring distress and pr
walton TO our farmers and withhold from our
worllingmen the wage of labor" are " the Ie-
suit of financial policy which the Executive
branch of the Government finds embodied III
unwise laws" That the operation OF the Sll-
yer Purchase act has been mlschievous IN It's
general effect as shown by experience, we
have never hesitated to say but we have also
eypressed our deliberate conviction that the
shock to public confidence which has so shaken
credit and disturbed business was primarily
due to the disclosure which came to the people
after the failure of Mr. Cleveland as President
elect to persuade Congress of his own party
to make any move toward the fuliilment OF Its
own most solemn pledges. They realized then
that a mistake had been made in in;rustIng
power to a party unused to its responsibilities
which for thirty years had been only playing
a confidence game.
That, however, is nothing to the present
purpose Whatever President Cleveland may
attribute existing conditions to-and 1t Is only
natural that he should charge them upon his
opponents rather than admit that they result
from his own election and the success OF his
party-he has at last taken the only step pos
sble to him in calling Congress together That
he has not even now summoned it to meet Ill
Julv rather than five weeks later may be due
70 the fact that he is not yet clear in his own
mind that he can manage his wild horses when
he gets them together. 1t Is known OF course
though it is not specifically stated i'll the
proclamation, that the main pulpose-the sole
purpose indeed-of the extra session Is TO re-
store confidence to the business community by
the repeal of the Silver Purchase act. 1t Is
very generally believed that such action would
90 long way toward arresting the present
downward tendency of values. We shall take
leave to say, however, that if the new Con-
gress could give the country the assurance
that it would not make the sweeping tariff
changes threatened by the Chicago platform
if would do still more toward removing the
distrust and apprehension which threaten to
cripple all our industries and bring distress
and privaton to all classes.
As we do not expect that we are prepared
TO render all the aid in our power TO the Presi-
dent in his effort to ameliorate existing condl-
tons by bringing about the repeal of the Sill
yer Purchase act. To this end we deprccate
whatever tends in the discussion of the sub
iect to exasperate or irritate those who have
hitherto held to the belief that by continuing
the purchase of silver, or by free coinage, thus
country could force bimetallism upon other
nations or could maintain our own credit and
enhance the prosperity of our people. "A great
many intelligent people have held this view
whose honesty and sincerity we have never
doubted. however much we may have distruSt-
cd their reasoning and disputed their con-
illusions. Recent events we have reason to
believe, have opened the eyes of many of these,
and though they yield their convictions with
extreme reluctance, they are not so obstinate
or unpatrotic as to insist upon their own pre-
conceived notions when they find them opposed
by the civilized world. Large communities in
the South and West have been carried away,
as we think by the dclusion of free silver.
They have insisted sometimes with unneces-
sary heat upon having their notions adopted
by the whole country, and in the warmth OF
discussion have borne down with severity upon
Eastern fnancers and capitalists who did not
agree with them. They are OF all parties, and
their opinions have no doubt, in most cases
been honestly held. Now that they are in a
fair way to discover their error, it is well to
avoid taunts and recriminations and assist
them as much as possible by argument and
reason. Common sense teaches US to concli-
ate them 'and smooth their way back into the
ranks of conservative sound money men rather
than repel them by reproaches for the mis-
chief they have done, or pluming ourselves
upon superior intelligence Good manners,
good morals and good politics dictate policy
of cancellation for the common good,
THE TWO ADMIRALS
H. E.,