New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-07
FACE TEE MUSIC. GENTLEMEN.

"To endeavor TO twist an event of this sort
to petty partisan ends" says The New York
Times" commenting upon the recent exciting
occurrences in Wall Street which have been
looked upon as a elimination OF the vaclllatng
policy of the Administration on the silver 0ucs-
| tion /" is not very decent; it is in fact extreme
" disgraceful but, on the other hand il is also
silly" But only last Wednesday 1.-The Times
| speak ing of the certain signs of weakness in
"ihe general business situation" and the
shock that has been given to confidence,
said: "Nor is there any doubt that this has
resulted solely from the condition of the cur
rency There has been no other rational or
even visible reason for it, The only remedy
it could see for the existing condition was the
repeal Of the Silver Purchase act. That is the
impairment of confidence grew ont OF the sis-
picion that had become general-and become
so. if we may say it without being indecent
dis.racefu or silly, since the Democratic vic
tory last fall-that the country was approach
ing n silver basis. "The Times is not gno-
rant of the circumstance that Secretary Car
Isle expressed at one time determination TO
redeem the Government obligations in silver,
and that the shocl, to public confidence caused
which President Clevc.and's assurances to the
contrary arrested only in slight degree.
"The Times" doubtless remembers that the
Democratic National Convention took square
ground for the repeal OF the Silver Purchase
act. Ii must know as well that had the repre-
sentatives of that party in the last Congress
acted up to that profession and redeemed their
promise the act of 1890 would have been re-
realed hands down. And that, according 10
its own statement, would have established con-
fidence and prevented the panic OF last week.
Is it twisting that event to petty partisan ends
TO direct attention to the circumstance that il
the party in power had endeavored honestly to
fulfil its promises financial panic might have
been averted? Isn't the currency condition a
political question? Isn't the administration Of
the National finances leading issue in poll
tics? Aie not parties divided upon it? Why,
then, is it petty partsanship to put the re-
sponsibility for existing conditions where it be-
longs?
If memory serves, our friends OF The
Times never lost an opportunity in 1890 to
trace any advance in prices. from kid gloves
to tnpate or any labor disturbance, from
he'd carriers strike to a. railroad boycott, TO
the operation of the Mckinley tariff, and they
did rot think it Indecent, disgraceful or silly,
or that they themselves were wretched par
tisan bunglers." In the present case nothing
could be palmer than that the election OF
Democratic Congress in the first instance dis
turbed public confidence and cast a shadow on
the National credit in the second place, that
the utter neglect of the Democrats in the last
Congress to take the first step toward the full
flment of the pary's promise increased the
dstruSt and lastly that the vacillatiOn of the
Administration was the immediate cause of the
late panic. Instead of resenting this plain
statement Of facts by saying it is petty PARTISAN
ship, indecent, disgraccful and silly, our Dem
ocratic friends would do well 10 accept the
responsibility and face the mnSic.