The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1893-06-16
CLEVELAND HEARD FROM.
A Session Of Congress Called to Meet In
September.

"A session OF Congress Called 20 Meet m
September.
President Cleveland has announced in
a semi-offcial way that congress will be
called together some time between the
LIST and the 18th of September. Oh
course some contingency may arise to
occasion an earlier call. but unless
some unforeseen contingency arises the
season will not be rushed The middle
of September is as early as Washington
will be tolerable, for the heated term
there is very oppressive, the first half
of September being the worst part OF
the year. Still in an emergency the
weather is not much of factor.
The statement made by the president
in connection with this announcement
is to the effect that the only reason he
will hasten the meeting of congress will
be for the purpose of repeating the
Sherman silver-purchase act. He makes
no allusion to the tariff. He does not
at all recognize the fact that the ap-
prehension of radical change in the
duties on imports has seriously de
ranged business, mercantile and manu-
featuring. He lays everything to the
monthly purchases of silver bullion. To
his mind it is all perfectly plain. Zone
does not need" he says. 1.-The eye OF a
fnancier TO see that the gold subt-acted
from the government stock 10 par
chase idle silver bullion is eagerly
seized by other nations for the purpose
of strengthening their credit at our ex-
penSe.
This is very good statement OF the
way the purchase policy has worked
ever since Grover Cleveland was elected
president. and it is natural that he
should not look back of that date. but
| as a matter OF fact the act had been In
ooeration more than two years before
! his election. and for the greater part OF
the time the act has been in operation
no such outflow as the president de-
scr;bes was occasioned. This is not a
matter of theory and speculation. but
| Of absolute fact At the time the Oil
was passed there was no reason to ap-
preheud an outflow of gold from this
country. :,
The president seems to think that ii
the purchasing of silver bullion cease
the outflow OF gold would cease, but II
is to be remembered that this outflow
was not started by the Sherman act II
was started by the failure OF the Bar
ing Brothers, London, or, to go one
step farther back, by the collapse OF
the Argentine boom, followed later by
the utter hat-out of the Australian
boom. American bonds and debentures
have been sent over here In large
blocks, to be exchanged for gold. The
silver purchased by the government
was all, or nearly all. mined in this
country. and the purchase money en-
tered into the general currency OF oul
own people.
1t does not follow that repeal OF the
silver purchase act might not help II
stopping the outflow. Care must b'
taken not to disturb the bimetalll'
basis of our finances by the repeal o
the reconciliation feature of our exist
ing financial enactments. Neither th'
coming of a given amount of silver dol
lars nor the purchase OF a given amour
of silver bullion is an integral part
bimetallism. The volume of silve
money now in circulation is as larg
as the business of the people will util
ize. If it were increased the increas
would remain in the government vaults
If an increase were desired the stock o
bullion is ample for good while t
come. We can. therefore, see no rlsI
| to bimetallism in shutting down tn
! silver supply gates now until such tim
as some future congress shall agall
open them. But if the president an
the other monometallists should al
tempt to use the present demand TO
the repeal of the silver purchase act
; an opportunity to demonetize the silve
dollar. they would undoubtedly defea
the very object had in mind in CALM
congress together in extra session.
Chicago Inter Ocean.