Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-25
Mr.. HILL ON FINANCE
Continued from First Page

sthnuarO-
Inc question Of the demonstration of sill
is hot involved. Speaking in the popular
SENSE silver was demonetized in 1919 II Is
Tue ue mat a repeal prevents any further
roa,as e OF silver but it only prevents a
restricted coinage such as / have described
winch Is worse than no coinage al an 4,
ooes not OF itself prevent free coinage. be.
use Tree coinage has not existed since 1873
sho,,lS ai cannot inJure the silver cause; IL
s.iouio nelp IL. II paves the way for other
ana better legislation
q. II is said that the Presidents message nv
us slgnincant omissions, and esneciaIly ~
It's closing lines contemplates the esfa p.i,sbH
lient OF a gold standard as the policy Of the
SS11unsry, and looks upon the repeal of the
=, hSfihan law as a means to that end If Is
70 De regretted that the President WIS 80
more explicit In his last utterances He eye
p ans advised the repeal of the Sherman
law, and then urged other legislation ~
ueslrable. but he left the exact nature
thereof in doubt "'ui
II vas hoped that the President. in view
~ che provisions OF the democratic ma
sIohai platform in favor of a double stan
S Siu' ana IN view Of the we'll known opin-
40 IONS OF a large majority of his own party
Ia Sonsress, would have at least spoken a
hIiu or encouraging word in behalf of a
return TO bimetalism. IT would certairlS
nave MADE the path of repeal an easier one
1..u prevented much misconstruction anS
bitterness. But while 1 regard such omis
sionS as unfortunate, and while conce.inp
, MA. IL Is NOT easy to reconcile the closing
woIIs OF ms message with a desire for the
estapnshment of a double standard. vet ]
am not disposed to accent such CON
s ssIuclpn OF them until further evidence of
ms ADVERSE intentions have been mani
rested III he really intended us 10 under
stand s that he proposed hereafter to favor
me Poicy or a single gold standard then
must absolutely decline to follow him fr
his new departure.
The ADMINISTRATOR Position.
L shall refuse to follow in the footsteps of
any administration that seeks TO place the
democratic party in false position; that
seeks to lead it away from its traditions.
away from the currency of our fathers.
away from the path of safety. away from
democratic principles and platforms and
into the very camp of the enemy. The Pres
foent must rely upon republican votes to
carry out any such suicidal policy. 1 shall
not believe, however, that any such course
Will be taken by the President of his own
volition, or even under the inspiration of
indiscreet advisers, until clearer evidence
shall be furnished than now exists.
l urge repeal of the Sherman law be-
cause il is a hindrance TO free biInetallic
courage; because its practical operation f.
depicting the Treasury of our gold; because
1t is boarding up our silver bullion, instead
OF coming fl; because it is lower
ing the price Of silver and Great
yer and gold every day Of its existence, be-
cause it has lost the public confidence,
weakened the public credit and disgraced
the silver cause IL was designed to serve.
These are sufficient causes for its repeal
without inventing other reasons about
which there might be serious differences of
opinion, and the discussion Of which is un-
profitable at this crisis.
The Temporary Remedy.
The temporary relief which the country
needs at this hour is the prompt repeal OF
the Sherman law. We can discuss our
monetary theories afterwards. Our duty
now is to stop further silver purchases ana
relieve an almost bankrupt treasury from
the drain Of gold out of its vaults.
Let US legislate upon the financial ques-
ton and then return to our homes. At the
regular session next December We can re-
sumo the consideration of the establish
ment OF a permanent financial system re-
quired by the necessities of our great and
growing country. This is not the hou- for
The country's condition forbids it. The
patient Is SICK; We must cure him OF his
dangerous temporary fever before We at
tempt to cure him of his deep-seated dys-
pepsia or rheumatism. "One thing at a
time" is good motto in business as well
as sometimes in politics and legislation.
The goal for which the country should
steadily strive is. first International bi.
metalhsm-an agreement with ct least a
few leading nations-and IL that is abso-
lutely impossible Of achievement, then in.
dependent bimetallism at the earliest mo-
ment when the condition of our finances
and conditions abroad will safely warrant it
1t is impossible to say in advance when thai
moment VIII arrive. 1t may never come Ii
certainly Is not at present There must be
adequate preparation, revised laws, cNmpe-
tent administration and friendly admin SRA,
ton before such a result can be secured
The condition of our treasury forbiis 4,
today, but ] indulge the hope that in tbs
near future the existing conditions of this
and other countries may change for The
better, and We may be enabled safely to re.
turn to the wise policy which we SO foolish.
ly abandoned in 1873. 1t is useless 10 dis
guise the fact that the situation has urea ly
changed for the worse during the past year
The increasing disorder of our finances aid
the recent action of India have complicated
the financial problem and rendered II more
difficult of solution.
Repeal With Triumph.
mr. President" he said in closing. this
bin Is going to pass this Senata 1 believe
1t; predict IL. The sentiment in its favor
Is growing stronger each day under the
light Of discussion.
There will be some delay, vexatious
though II may be regarded by the public.
whose Impotence is eNcusable un.ier the
trying ordeal through which our blsi.less
interests are passing, but such DELAY is in
evitable in body where delibera sion has
been Its leading characteristic for a CEN
fury. but there will be no disappointment n
COnfirmatfons.