New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-09
THE LATEST DETICES.

Fertile I'm devices for lodging a plain duty.
the Democrats have proposed two new com
promises the past week. Senator Black
burns has the charm of novelty. The one
which Secretary Carlisle is said TO favor has
the merit OF frankncss. as II would he n con
fcssion that the Democratic party has no higher
capacity than fcebly 10 initiate aud family FOL
low that Republican measure which has proved
least satisfactory. Ii would continue for three
wears the purchases Of silver required by the
sherman act only reducing the quantity from
100000 10 100000 ounces per month lhis.
it is said, Secretary Carlisle has proposed TO
the silver Senators as Il solution. II uncondi
tional repeal should be found impossible This
statement seems Il hard one 10 believe, but
il is noticed as Il significant fact that. some
DAYS before it was reported that any Demo
crat had proposed this scheme. Senator Shcr-
man predicted that i: would be- adopted by the
Democrats in the end. saying that If the pr"si
dent would no. adopt it he would destroy his
party and his administration would be- broken
down Mr. Sherman has steadily urged I'M
conditional repeal. but h. has become impressed
with the belief that th" Democrats are not
going to do any such thing. and that the ma
jority Of that party means t" make repeal I'M
possible and 10 force some compromise.
Others have been compelled 10 adopt the
same opinion. since the Democratic party in
sisted upon thrlsting the Election bill 10 the
front Nothing could explain this course. cx-
ccpt Willingness. if not ii positive desire. to
see silver repeal defeated Under cover Of
vocifcrous efforts for repeal. which 10
,1.f Il. hay
been hunting for compromise. and it Is quite
in line with the past record of that party that
it should finally fall back upon a Republican
measure take some Of the merit ont Of II, and
adopt it in spite Of the fact that al Demo
Gratis have denounced il without limit and de-
mandcd its repeal. In this ease Il more gro
tesuIic ending of Democratic cXcrtOns could
not well be- conceived, but Senator Sherman
Is particularly we'll acquainted with the force
against which he has contcndc1 So long. The
act which he thinks can do no more good and
NAV now do much harm. and ought there
fore to be repealed without hesitation, may be
come the basis of Democratic harmony. The
very act which the whole Democratic party
has been bcrating as the only cause Of iinan-
clal trouble is rs likely rs any other 10 be-
taken mp. if it will prevent rupture Of the
| party.
When the present Silver act was passed II
had three merits: it stopped silver coinage it
| pledged the Government 10 maintain the parity
Of gold and silver. and il tested the question
whether abs )rption of the entire product Of
| American silver mines would sustain the price.
| The test has been made. has educated the pco-
| pie and IS not longer needed But the time
has come when purchases Of 2.lOO.OOO ounces
| A month would do intellectually more harm
| than purchases of 100000 ounces did year
| ago 50 that il cannot even be said in favor
| Of the latest Democratic proposal that ii is
| i'm that particular cyclisahlc There can be
| nothing to say for il. except that Il Democratic
| President and Congress find il impossible TO
restrain the worst and most dangerous Gle
lnents within their party. otherwise than by
| feebly following the least mcritorious Of Re
publican measures after ii has lost what use
| fulness il once had.
The plan of senator Blackburn would re-
| yvr silver coinage, and thus greatly increase
| existing danger. In some way too mysterious
| for explanation. the difference between the
market value of the bullion purchased and
| the number of silver dollars which it would
| produce by coinage is TO be applied to the
| purchase Of gold or possibly transmitted into
gold, and this gold is 10 be added 10 the re-
serve in the Treasury for the redemption Of
money issued by the Cover nmcnt. The Singh
| lar merit OF this scheme is that it recognizes
| the fact that coined silver is nothing but II
| representative or token currency, which re-
| qurcs fund for lis redemption 10 keep il
| from dcpreciating. as much rs any paper cur.
rency. Whether the token Is made Of paper
or silver, that which gives it value is the pros.