The Providence news. (Providence [R.I.]) 1891-1906, 1893-05-04


1t is supposed by many that President
Cleveland would be only too glad to have
some financial trouble befall the country,
because 1t would justify the urgent appear
made in his behalf to Democrats OF the
last congress, and would support him In
appealing to the next congress for proper
legislation. But such an impression must
do the president injustice. His relations
with business men and business interests
are such, aud his knowledge OF the effects
of financial disorder upon the condition
and happiness of the millions Is 50 full,
that he must be man of exceedingly cal
lous heart to regard with any satisfaction
q serious monetary storm. Nor could he
be indifferent to the political influences
which such calamity would be likely to
have, since it would tend powerfully to
drive Democratic voters, especially at the
south, over to the Populists.
1t is probably true that the presiden
has been advised by leaders of his party
who have made careful investigation that
there is no chance of getting useful legis-
lation on monetary questions from the
next congress, unless the state OF financial
affairs changes the minds OF men. Ii Is
also probable that he has been advised by
some whose financial forecasts he regards
with much confidence that monetary dis
turbance can hardly be averted longer
than next year, IL it does not come this
year, unless the uncertainty about silver
coinage is in some way removed.
II he has based his calculations on these
beliefs he may not unnaturally conclude
that disturbance would be less severe II
1t should come Without another years de-
lay, and that it might in that case come
soon enough to drive Democratic con-
gress into sensible and honest action. liz
he also considers that a congress hostile to
him would almost certainly be elected in
the midst of financial disturbance, but
might be more favorable IL he should first
succeed In getting legislation to start the
country on a safer monetary basis, ne
would have some reason on his side.
The political future for years TO come
might easily turn upon the arrival or post
ponemcnt of financial disturbances. For
large proportion of Democratic voters at
the west and south are so closely in accord
with all the most dangerous notions OF the
Populists that a transfer Of their allegiance
and their votes might be suddenly pro
duced by almost any event Of great public
interest, such as reaction In business.
No doubt it is also true that many Re-
publicans at the west and southlean to-
ward the same heresies. But they have
heard something of sound doctrine, and
should be better prepared to understand
the causes Of any reverse. To the Popu.
lists and to many Democrats IL Is likely
that any industrial or financial disorder
will appear to be the consequence OF Presi-
dent Cleveiand's adherance to the Wall
street idea, and nothing would be more
natdral than for them to express their
dissatisfaction by defeating Mr.. Cleve-
lands party aud his friends.
IL is conceivable that the Democratic
party may in this way be so broken and
weakened that no believer in honest money,
no one who seeks the true prosperity of
the country, will see any hope except in
strengthening the Republican party. It Is
even conceivable that the Populist ele-
ment, whether called Democratic or not,
might succeed in electing a majority Of
members in the next house, so that nothing
but the presidents veto, and a Republican
minority in the senate aided by some
Democrats, would stand between the coun-
try and most ruinous legislation. Like
other shallow heresies, this is certain to
die out before long and perhaps all the
more speedily IL it get force enough to be
compelled to put its ideas into definite
form. But il trouble should come in bust
ness and finance during the administra.
ton of President Cleveland it is likely to
damage his party severely. New York
Tribune.