The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-11-09
OPINIONS ON REPEAL.
racy,

The greater portion of the papers of
the country take a hopeful view of the
effects of the repeal measure passed
at the extra session of Congress. Fol
lowing are very few of the comments
of the press on this subject:
The Brooklyn Eagle Democratic
says:
What would have followed the pres
ence in the presidential Office of wav-
erer or compromiser, in view of the
evils wrought by preposterous silver
purchases, is hardly worth specializing
upon. The truth stands out in bold re-
lief that the President, with hand
as sure and steady as that of Wash
lington or Lincoln, has guided Congress
of new and beneficient opportunity.
This is from the New York Sun:
We regard the repeal of the purchas-
ing clause of the Sherman act as not
only reasonable, but indispensable. We
consider it impossible for any country,
single-handed, to avert the demoneti-
zation of silver. But we have no words
Of rebuke to utter because on a ques-
ton of this magnitude the Senate of
the United States saw fit to expend
some sixty days; and we have only re-
spect and sympathy for those represen-
tatives of the silver states who strove
manfully to postpone or palliate an
i7,n FOL IL Low
be universally agreed, did their whole
duty to their constituents.
The Journal of Commerce (Republi-
CAM remarks:
The immediate effect of the repeal
is to assure the country and the COM
mercial world that our government will
no longer spend gold in buying silver
for storage purposes. This removes all
doubt of its ability to keep all it's pa
per currency at par in gold, and this
in turn removes all temptation to hoard
gold, or to export it except so far as
the course of international trade de-
mands its export. All doubts about
the soundness of our currency being
removed, we may look forward to
freer buying of merchandise by our
own people; and, the tendency Of prices
now being upwards, we may expect
Europeans to buy freely of foods and
cotton instead of waiting for lower fig
ures; and, an assurance being given of
the maintenance of a sound currency,
an improved European market for
American securities may be counted
on.
The Houston, Texas, Post, has this:
Senator Coke writes 20 the Fort
Worth Chamber of Commerce that the
passage of the pending repeal bill
would unquestionably flash up and
Establish the decentralization cf silver
The word demonetize means ito de-
prive of current value, to destroy the
use, as money" Does Senator Coke
pretend to believe that anybody pro-
poses to destroy $685. 900 in silver
money that we already have? We
have $11,OOO,0OO more of silver money
than we have of gold money and the
faith of the government is stamped on
every coin. That alone will keep it
sound, but, in addition to that, the re-
peal bill itself pledges the government
to sustain as good, sound money every
dollar that has been issued of all
kinds.
The following is from the st. Louis
Globe Democrat:
The cessation of silver-purchases by
the United States will change the
whole monetary situation for the world
and will force the leading nations of
Europe to take an interest in it that
they have not manifested heretofore.
Bimetallists in England and Germany
have been telling us for years past
that these countries could never be
compelled to adopt the double stand
ard until we stopped adding to our
silver currency. They have recently
been telling us, too, that the senti-
ment in favor of bimetallism in their
countries is on the increase, and that
in the crisis which repeal in the Uni
tied States would bring about, this SEN
timent would quickly assert itself
with such force that it would compel
recognition. Presumably they are full
ly acquainted with the conditions in
their localities. The situation which
will test the truth of their predictions
is close at hand, at any rate. It is
reasonable, therefore, to look, in the
near future, for a solution of the sill
yer problem which will be satisfactory
and permanent