New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-09
HOyOR no THE PRESIDENT

HONOR TO THE PfESIDE-'A
The President has done his part we'll He
asks Congress to repeal as soon as practcaoie
" the provisions of the act passed July a.
! 1890. authorizing the purchase OF silver bull
ion. and that other legislative action may put
bcv0pd all doubt or mistake the intention and
the ability of the Government to fulfl ITS
pecunary obligations in money universally
recognized BY all civilized countries" More
sound than many. he does not propose sweep
ing repeal of the act. but to save its valuable
nrovisions. Wiser than many, he secs that
nositive action will be needed to put IN end to
the fear that new rulers may trample on old
obligations lie does not suggest any sort OF
compromise. urges that "such relief as Con-
grcss can afford in the existing situation be
afforded at once" and declares that "every
DAYS delay in removing one of the plain and
principal causes of the present state of things
enlarges the mischief already done, and in
creases the responsibility of Government for
its existence" These are manly and strong
words, and they leave little disposition to sug-
gest that the responsibility has rested with him
since the 4th of March. and that every days
delay since that time might have been avoided
if he had called Congress together IL mis-
taken in deferring action, he is plainly nght
now in asking Congress to do its part with
promptness.
The reasoning which precedes this recon-
mendation is forcible 1t seems to him that
all conditions favor prosperity, but " distrust
and fear have sprung up loans are greatly
curtailed. and loss and failure have involved
every branch of business 1t was not to be
expected that the President would recognize
that the proposed change of tariff, to which he
again declares every effort OF the present Adj
mnistration is pledged has caused much OF
the trouble At least he is right in saying that
uncertainty regarding the currency is "one'of
the plain and principal causes" OF disaster, and
in urging that the existing lack of conf
dence. however caused. is a menace which
ought not for a moment to be dlsrgarded.
The absorption of all American silver produc-
ton by purchase he states with truth, has
disappointed the advocates of silver coinage,
who believed il "a certain guarantee OF IN
crease in price" 1t has forced the Treasury
70 trench upon its gold bullion reserve for the
first time because "rcfllsal TO redeem the
Treasury notes in gold would necessarily re-
suit in their discredit and depreciation as OBJ
destroy the parity between the two metals"
This is a complete and honorable vndication
of the policy which was adopted by the Presi-
dents predecessor, which President Cleveland
and Secretary Carlisle in their first public
statement on the subject indicated a DISPOSE
ton to change, but to which they have since
manfully adhered
1t is also due to the President that right
thinking citizens. in a spirit of patriotism and
not of partisanship, should promptly and fully
recognize his honesty and courage in defining
the act of July IA, 1890, which, in his words,
" was the elimination of much agitation on
the subject involved, and which may be CON
sidered truce, after a long struggle, between
the advocates of free silver coinage and those
intending to be more conservative The
Democratic National platform of 1892 called
this act a "cowardly makeshift," and Demo
cratic partsans ever since have been using that
sheer as warrant for wholesale defamation.
The Presidents exact statement of the fact is
fearless and wholesome rebuke of the SLAM
ders emitted by his own party, and as such
commands the admiration and approval of all
who desire that grave subject should be dis
cussed with candOr and sincerity.
The President deserves hlgh nOnOr 1Or tnis
message, so free from every suggestion of
trimming and compromise at time when the
air is full of barteiing schemes, and SO earnest
and strong in its appeal to the good sense of
men of all parties to stop the dread of vicious
action on the money question. Multitudes
will give him cordial approval and support
in this course who will not be able to 90 with
him in an attempt to change the tariff at a |
time when business and industry are greatly |
embarrassed, but who have been contcnding |
for many years for a sound currency, for
" money universally recognized by all civilized |
countries" against the unceasing opposition OF |
most of the Presidents political associates. |
1t has not been easy for him to break from |
many friends, who feel that defeat on this |
question will be fatal to them. 1t is all the |
more to his credit that he has not hesitated in |
his obvious duty, and strives with his whole |
influence to rid the country of the one evil |
which he realizes. Without distinction of |
party. men who care for the public welfare will |
sustain him wherever he is so clearly in the
right.
TROLLEY ACCIDENTS