Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-02-22
WEDNESDAY. FEBRUARY 20. 1896
The SILVER Compromise.

silver problem should be solved by the
present Congress. IL il truly burning
question. No wonder Democratic con-
gressmen gather in squads indoors or ont
of doors to devise the WAYS and means
which are TO be resorted to in order to re-
lieve the incoming President of the United
States of the deplorable condition OF at
fairs which now threatens to confront him
before he shall have become warm in the
presidential chair.
Our kilograms of yesterday afforded lit
tie reason for hoping that the LIVINGSTON
compromise bill would be acceptable
either to the Senate or to the House OF
Representatives -either to the Democrats
or to the Republicans--eitber to the sill
verites or to the goldites. MIR. WILLIAMS,
of Massachusetts,. speaking for the grea.
cities and voicing no doubt Mr.. CLEvE-
LANDS views. declared that he wonld vote
for no measure providing for further sill
yer purchases 10 any amount. We cannot
but regard this conclusion as consistent
with the accepted theories Of both mono
metallists and bimetallists. To profess TO
favor the free coinage Of silver and then to
support measure which actually provides
fer reducing that metal to the condition of
D mere commodity is to adopt policy the
wisdom of which we confess we cannot
zee. This is lust what the silverites do
when they provide for buying silver bull
lion to coin into dollars. 1t is to assume
that silver is rot equal in value to gold.
The monometallists are more consistent.
They hold that silver Is commodity which
no legislation on the part of Congress can
render equal TO gold in value (l6 to ~.
They do not concede that Congress can In
any way impart value to silver which 1t
does not already possess They would
have but one standard of values-namely.
gold-and would like to see silver driven
from the channels of money and valued
only at its selling price as bullion.
Mr.. GoRMAN's speech of Monday seemed
to be regarded as foreshadowing an extra
session of Congress. We doubt that Mr..
CLEVELAND will yield TO the opportunities
of the alarmists. Indeed. we are confident
that he will not do so unless he shall first
be thoroughly convinced that there is real
cause for alarm, and also that the next
Congress can be induced to do what the
present Congress positively refuses to do
60 wit, adopt the views of the monometal-
lists and legislate accordingly. What rea-
son can be given by any body for expecting
the new Congress to adopt that policy
We know Of not a single circumstance
that points to such course Of conduct on
the part of that body. Persons on the
ground, however-thatis, in Warrington
may know of facts which they do not give
80 the public for expecting the next House
of Representatives to be more tractable
on this question than is the present House.
As to the Senate. II seems to be almost, If
not quite. certain that that body will at
its next session be more decidedly in favor
Of silver measures than it is at the present
time.
The constant outflow of gold has alarm
ed the capitalists of this country. The
alarm amounts almost to panic,
and is likely to grow soon into
O well-developed panic-that Is, sense
less alarm-which. however, grows
BY what it feeds on" and creates the very
condition of things which the alarmists so
much dread. If nobody had noticed the
shipments of gold 10 Europe and no note
OF alarm had been sounded it is possible
that no bad results would have followed
those shipments. Playing with edged
tools is dangerous occupation. Gold.
like silver or cotton or tobacco, will 90
wherever there is demand for it.
The LIVINGSTON bill provides for gold
contracts-that is to say, for cutting its
own throat. IL il becomes law in its
present form it will confer upon the mo-
nometalllists the power to repudiate silver
altogether. Every contract may be made,
and will be made. to contain the stipula-
ton that it shall be payable in gold. The
existence Of such law would destroy the
value of silver. Therefore we conclude
that no such law can get through the next
Congress.
The Republicans in the present House
Of Representatives. led By Gar REED,
manifest purpose to turn over to the
next Administration the silver problem
with all its embarrassing features. For
Our part westill hope that Mr.. CLEvELAND's
inaugural message will contain valuable
and practicable suggestions on this sub
ject. His clear mind may possibly see
way leading out of all our present fnan-
cial difficulties. Great is his RESPONSE
bility-great bis opportunities.