Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1893-08-08
ON A GOLD BASIS.

ON A GOLD BASIS.
Mr.. Cleveland charges the unusual hard
times now prevailing to the Sherman act
and attempts an argument intended
to show that the free coinage of silver by
the United States would deplete the
country of gold and ruin its credit abroad.
He thinks parity might be maintained
between silver and gold on the circula-
tion of a specific amount of silver but
not on an increasing amount.
Indeed, throughout the message shows
that the president ignores
HIS PARTY PLATFORM
And favors the interests of the New York
and London banker as against those of
the American masses.
If congress accepts Mr.. Cleveland's
recommendations there is no help for
silver and little hope for the country.
The message briiy touches upon the
tariff question, but recommends that that
ject be taken up after the financial
question is disposed of.
SOUTHERN PROPOSITION.
Congressman Livingston, of Georgia,
proposes to introduce in the house areso-
luton reciting the policy of the Demo-
cratic majority on all important topics,
and, after this has been passed, to take up
Legislative measures in detail, beginning
with the unconditional repeal of the
Sherman law. He has prepared reso-
luton declaring it to be the purpose of
congress to provide bi-metalic currency,
and to preserve the parity between gold
and silver, this resolution to govern sub
sequent financial legislation, which is to
include system for national currency.
He wants the 10 per cent tax on state
banks repealed, and an additional cur
rency issued to the banks, which shall
first be guaranteed by bonds secure by
the state itself assuming the responsi-
bility for redemption, and, third, by the
United States. AS to further legislation
on the silver question, Mr.. Livingston
says he favors the free coinage of silver
at an increased ratio. The southern peo-
pie, he says, are willing that the ratio of
the two metals shall be 20 or even "a to l,
SO long IS their parity is maintained.
GovERNMET WHINE.
The officials at the treasury department
are at loss to account for the scarcity of
currency in many of the larger cities
throughout the country.
Advices from Boston, New York and
Philadelphia, state that the business of
the large firms in those cities has been
greatly, and might be seriously, injured
unless some remedy was speedily found.
At Boston and Philadelphia money
brokers are selling small bills at pre-
MUM of from l to 21a per cent and in
New York the condition of affairs was
even worse, the premium of one broker
age firm at least being reported as per
cent for 81 and 50 bills. Assistant
United States Treasurer Meline stated
that the government was powerless in the
premises and could do nothing to reme-
dy the trouble.
NATIONAL NOTES.
At a meeting of the Populist members
of congress twelve were present and it
was decided to vote as unit to maintain
the present ratio of 16 to l. No nomina-
tions for officers of the house we're made.
Senator Teller says: "The situation is
even better than I anticipated it would be
a few days ago. 1t will probably be a
holly contested battle, but the hope of
the silver men will be realized in pre-
venting schemes of eastern tinanciers to
kill silver"
II is stated on apparently good author
ity that Mr.. Crisp sent for Mr.. Bland and
assured him that he would be appointed
chairman of the coinage committee. The
gold bugs, however, still predict that the
will be constituted so that
they will have the majority, but this is
not verified.