New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-09

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/ what was wanted. The one subject for immediate
handling is the silver question. and that is what
the President gives his attention and calls to the
| attention Of Congress.
Edward o. Leech. formerly Director of the Mint
and now cashier Of the National Union Bank.-The
message. so far as 1t relates to the financial sit
uatlon. was well and strongly put. and should have
the effect to restore confidence in the deermina-
| ton Of the Administration to insist upon prompt
and decisive action In stopping the purchase OF
silver with gold money and thus to place our cur
rency on a sound basis The reference to the neces-
sy for tariff reform action in the immediate future
was unfortunate. many think that the proba-
billy of tin,iering with the tariff has much to do
with business troubles. I wish the President
had said that in his judgment the tariff should not
be touched until the existing business distress was
over. The effect. coupled with his strong remarks
on silver. would have been instantaneous and very
beneficial
Jesse Seligman thought that the Presidents
recommendation to the repeal of the purchasing
clause Of the Sherman law satisfactory. but he
thought II injudcious to refer to the tariff question
at this time. The session. 1t was understood was
called to deal with the financial issue solely, ana
1t was not wise to lug I'm the tariff.
George G.. Williams. president of the Chemicai
National Bank-It Is tip-op. 1t marks the be-
ginning OF the end of the financial disturbances,
both in this country and In Europe. or course IL
will take some time to get business back to where
months the financial disturbances will be things or
the past The President does not make any specific
recon- mendatons for legislation other than repeal
ing the Silver Purchase law. but his message mas
the right ring Bankers and business men ought
Ia be treasured by this document, and think they
Will be-
EXPRESSIONS OF COMMENDATIoN.
John q. Adams. secretary OF the State Trust
Company message IL sound and should give
confidence in all parts of the country. Ii u.s. more
over. a very able document
Robert NJ. Galloway. president OF the Merchants
National Bank-It meets my views exactly.
think II n most admirable and forcible document
and that should have great influence with
Congress. 1t states the question just as 1t is
calmly and judicially and without any show oil
feeling.
John A. Stewart president OF the United States
Trust Company-I think it a most admirable docu-
ment. pa triotic. and free from any faint OF par
tisanahip. | think further. that as Republicans
should sustain 1t. and by lending Mr. Ceve-
land assistance at this time show that we
are patriotic well he.
Edward King. president OF United Trust Com
pany-I think (, "A most excellent message.
Dumont Clarke vice-presdent OF the American
Exchange National Bank-The message Is con-
seryative and satisfactory document. II Congress
will only repeal the sherman act and adjourn
within a month it would be the best thing that
could happen To the country.
Evan Thomas. president OF the Produce Ex-
change-The message has been very well received
our exchange. 1t points out that this country,
great as 1t is. is not strong enough TO carry the
whole load Of the worlds silver The President
means that the country should h. put sound
financial basis with currency of recognized value
throughout the world. Mr.. Cleveland has put his
recommendations In concise strong, plain language.
CRITICISM.
~
message and will be disappointing because of
its lack Of positiveness suggestion. II Is rather
II athletic appeal for harmonious cooperation TO
bring about prompt action. that shall at least In
cludc the repeal Of the silver purchase clause OF
the present silver law. II IL evident. rather from
inference than direct statement that the President
is prepared to approve measure that shall provide
for further coinage OF silver | think the message
would have produced better effect II II had
made reference 10 the tariff whatever,
pccally the President does not concedc that
doubt and uncertainty as to future legislation has
had any particular part In bringing about our
present condition.
Henry Clcws-rhe Presidents message is a
calm inonensive document. It treats the SHEER
silver law. which the extra Congress
called To repeal, In non-partsan way which Is
wise. as no antagonsm can he stirred up by the
Presidents opponents lin politics. The position
taken by the President In recognizing the obliga-
ton Of the Government To preserve the parity Of
the Administration and cannot fail to have good
% WITH the ,s Of Sr Of snv fear OF this rs
couniry's golns ON silver basis The President
H h. gam HSes helma law
than II he had been more dogmatic IN his utter utter,
war boldly attacked by the bears. The reverse
action however. Is likely TO he taken at the Lon
ion will be- favorably received In Europe as Il so
strongly stands for sound money. The opinions
after time has been taken for reflection.
\ STRONG ,pMIEEE OF Mr.. CLEVELAND.
George n. Hopkins. OF Kenneth Hopkins q
Company-It Is good and wise message. but
no more. for that reason. than We expected from
Mr. Cleveland.
Charles r. F'nt-u Is a good message just
what was needed There is a sentiment behind
the demand for the repeal OF the sherman silver
Purchase law that the politicians recognize and
e sons 70 r9 n1i wrd op e OF the
stock market, but for the wageearner, and that
ns ay rccey on h stock toe keel
George Rutledgc Gibson 1t was disappointing to
in Cieveands intellect, had expected the President
TO propose something tina, no one else had thought
country has had sort of mash on Mr. cleve-
land End has to . snpes, down. the s
the message appeared except silver which was ~
bid and no! offered below 15; as az; against r % BID
congress called to down" silver the higher goes
G e eTd issued S" his call for special
Congress, silver sold low 81 and as high as
60 To-day Congress assembled and II Is to I |
cents per ounce higher. This shows the inherently |
strong position OF silver In the market. The mes
sage was about what might have been expected |
THE mountain brought forth a mouse"
MEMBERS or THE PRODUCE EXCHANGE TALK. |
j. D. Brewster. Of the Produce Exchange think |
the President killed the whole thing by putting the
tariff reform matter into IT, This Is time when |
the tariff business ought not to be lugged up be- |
fore the people or even referred to.
W. W. Merrill OF the Produce Exchange--I am |
SURPRISED that the President did not recommend |
some provision for the ROSTERS that the Demo- !
Gratis wore I'm their hats last fall
G. ID. Puffer. treasurer OF the international |
EIeyating Company think the message Is very |
sensible though ] confess have not had time to |
read 1t through carefully yet
Theodore X Price. OF Hubbard Price & Co., Cot !
ton Exchange think the message Is eminenty |
sound and that II that the finances Of the |
country should he "A gold ba sis on "A gold |