Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-02-11
SATURDAY. FEBRUARY IL. 1898
The Silver Situation.


An ANALYSIS of the vote in the House Of
Representatives on Thursday against re-
pealng the SHERMAN actor this was the
real question before the House shows
that about half of the Republicans OF that
body considered it good policy on their
part TO leave all bimetallic propositions for
the action of the next Congress, and thus
TO embarrass tho Democrats and probably
cause strained relations to exist between
Mr.. CLEVELAND and his party. Wall-street
hnanciers have looked upon the Republi
cans as more sound upon money questions
than the Democrats. Indeed. the reputation
of tho Republican party ms the supporter
of all sorts of monometallic schemes ex-
tends throughout the United States. and
when Mr.. SHERMAN declared. as he did not
long ago, that he was in favor of the re-
peal of the law which bears his name
that declaration was taken as an indica-
ton, not 20 say proof positive. that when
ever the test might be made the Republi-
. cans in Congress would be found upon
the side of what the monometallsts de-
light to style honest money" But all
such surmises and guosses were put to
flight on Thursday he Republicans of
the House of Representatives divided on
the silver question and cast negative
votes enough TO defeat the proposition
TO repeal the SHERMAN act-that IL, of
course, their votes added 10 the negative
votes Of the Democrats constituted ma
jority. 1t IS worthy of remark that each
party divided into two sections almost
= /. . a.. fat,f
The issue was distinctly made. "A vote
for the previous question:" said Mr..
Bacon. of New York, was vote for the
death of the bill The result was 107
Democrats for Mr.. BAcoN's motion and 10i
Democrats against 1t and IS Republicans
for that motion and 80 against 1t. The
Populists, 10 in number, voted against the
motion.
And now what? We said the other day
that money was as obstinate as amule and
had a way Of refusing 20 do what the
financial prophets predicted II would GER
tainly do. The monOmetallists of the
House of Representatives and of the
whole country must have been surprised
ON Thursday to find silver certificates
selling just as they had been selling for
long time. They must also have been sur
prised to find that there was no panic
in Wall Street, nor in State street,
nor elsewhere. Wall street. We were
told Yesterday fell into waiting attl-
tude pending the vote on the silver bill"
When tho result of that vote was an
nounced the bears made on attempt to
create feeling Of distrust or alarm. but
did not succeed TO any considerable ex-
tent. The final losses were FRACTIONAL
with the exception of two lndustrials.'
This is a hopeful sign considering the pre-
cictions of dire disaster TO the financial
world which had been made by the mono
metallsts However, these gentlemen
will doubtless remind us that tho world
was not made in a day." and again predict
q disastrous near future for the finances of
the United States and of the world.
The Brussels international Bimetahc
Conference will hereafter have a clearer
understanding of the condition of things
in this country than 1t had when II was
last in session. 1t will meet again next
May. and 1t is to be hoped that something
will turn up then or sooner to take from
the backs OF the fnanciers of the whole
world this unmanagesble silver question.
We are inclined 10 the opinion that Mr..
HILL, of New York. Is on the right tack.
The speech which he made last Monday in
the United States Senate was powerful
presentation of the arguments IN favor of
the repeal of the SHERMAN law and the
passage Of bill providing for the free
coinage of silver. No more intelligent
discussion of the questions involved IN the
silver problem has ever been heard in that
body.
The Virginia delegation IN the House of
Representatives stood up and allowed
themselves 10 be counted in favor Of the
perpetuatlon of The SHERMAN silver law.
Not one of them was found to be opposed to
the continued purchase of the white metal.
We take il tor granted that they would
vote with equal unanimity in favor of
bill TO provide for the free coinage of sill
yer. Ii gratifies us to know that all of
them are thus friendly to silver money,
though we think the SHERMAN law renders
parity between gold and silver impossible
10 long as it is in force. 70 provide by law
for the purchase Of silver bullion is to pro-
vide by law that silver shall not DO brought
up TO parity with gold &c 10 ~. Money
ia something that ought to be always cur
rent at its face value IL ought never 10
be sold Us cotton or tobacco is sold.
We do not suppose that any effort will
be made during the present Congress TO
provide for the free coinage Of silver. We
might say that it is possible no such effort
will be made during MIR. CLEyELAND's Adj
ministratIon. He Is not q man who can
be sweryed from the line of duty by majori-
ties nor by such demonstrations rs those
made in the House OF Representatives on
Thursday: yet il is not impossible that he
may breathe more freely now than be did
before that day. At any rate, we expect
him TO do some plain talking on this sub
lect Of the finances in his inaugural al
dress. Four weeks hence we shall not be
In doubt on this subject.