New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-07
'E, MONDAY, AUGUST !, Is93-TEN PAGES.


| issue silver dollars in numbers az countless ~
the sands Of the sea. reduce the value OF gold
single farthing while the markets and the bust
ness of the hundred nations Of Europe ana ASH
and Africa are open to and furnish demand
for IL, and the gates of these nations are closeH
against silver It's free coinage may, by addihs
increased millions to the volume OF our own s''er
money, dilute the mass and diminish the 'a'"o
OF each dollar composing it for want OF demand
and outflow abroad but can only eXpei goiu' ho'
impair its value.
But the acceptance OF the Colorado proposi'ion
and the adoption Of experimental free coinage VIII
not assuace the controversy which will continue
TO rage with undminished vehemence. Every
thing would continue in unsettled state Oh
feverish anxiety and insecurity during the prog
ress of the experiment. which must certainly
fail in the end The address consents that after
such failure to restore equilibrium through Tree
coinage IL may be effected by changing the rela-
tive weights of the two dollars. Why not adopt
the certain mode now, which il consents sh"i
be adopted them terminate the controversy Dy
restoring our none tary system to solid OASIS vi
equal values and revive business confidence ac
/ once? Why continue TO augment the ulcer py IN
creasing the fuel on which it feeds, only to De
cut out in the end.
But will not increasing the weight Of the silver
dollar le attended with serious loss TO the
Government on account Of the large amount of
silver it holds in the vaults OF the treasury
Yes; but National honor, the public credit, busl-
ness interests and the common welfare VIII gam
a hundredfoh by the sacrifice. Besides the loss
will be infinitely less if the increase be made
now while the amount Of silver in the treasury
and the number of silver dollars in circulation
tho
it will be if made after the unsuccessful expert
ment Of free coinage shall have swelled the num-
her of these dollars to billions. Resort 10
the proposed remedy now, to which the appeal
consents after failure Of it's proposed remedy,
will result in less sacrifice than if postponed, be-
cause the ulcer is of less proportions now than II
will BE- then. II must he resOrted to sooner or
| later. Better, then, that the eXcison be accom-
! plished ut and the wounds heal than that IL
lie postponed and the business and financial in
terests Of the country continue unsettled in the
mean time
/ BIMETALLISM AND MONO METALTIsM.
lie who on principle favors a single standard
Of gold or q single standard Of silver is an hon.
est mOnometast lie who favors the use of
! both metals in monetary system is an honest
bimetallist But he who protesting to favor the
b
weight of one Of the standard coins as will, and
of necessity must, eXpcl one of the metals, Is
monometalst sailing under bimetalc coors.
Senator Stewart, in his recent very able and cy-
hanstive debate with Mr.. Horr. exhibits such
colors when in answer to a question pressed by
Mr. Torr whether cheap standard silver dollars
wonld not necessarily eXpe gold from clrcna-
ton as money replied that he could not see that
any detrimcnt wouhi result if it did
Disguise il as they may, the real question now
nrcsented TO the country for it's decision by the
| friends ~ free coinage is not, Shall We have
the single gold standard bmetallism,' Dut
Shall we have the single silver standard or oi-
metallsm? ~ The producers OF silver na'"ra"y
prefer the single silve- standard. The Oft reiter-
at.d accusation that European suspension OF COIN
age was the result Of gold mononetaiilc con-
snracv il simply the cry Of stop thief under
| which 70 cover the movements oil silver Woho-
metallsts Whether that suspension was wise or
unwse was or not the fruit OF conspiracy.
twenty years have elapsed, and no government OF
rrrone has reversed that action. 1t is therefore
an accomplished fact confronting us; we must
ac,.nt il and govern our actions accordingly
CONCLUSION.
Tho conclusion is resistless that under exist
ing monetary conditions the mint OF the onitea
/ States should not be opened 10 the uneS"'o''
free coinage Of both gold and silver into standard
dollars at their present coinage ratio. or uii'er
ence in weight Of TO l6, nut al co'naso
ratto Of not less than / to "a, 80 as TO CONFORM"
II 70 the existing commercial ratio ana restore
rho p,ritv of values between the two doAidrs' ae
our iIlusrious ancestors did in 1884. hi'ntr "''s
or some equivalent legislation must Dc resof"u
20. otherwise abandon one or the other oil '''e
metals. aors+ord
This is n plain statement Of what understands
O.. no the salient and material points in the coh'r'
.rsv In the effort TO be brief. some OIL 'ne''
may. bave been left obscure Some OF '''e i''''
,nucb discussed are left wholly out OF view ne
c,us, not regarded material to the real question:
A. 70 what Congress ought to do, have ciea'
oririon and matured conviction, the preseh'a'''"
of which is not within the purview OF rms e'a">
,,or, II remains to be seen whether President
~,a.o,.rd and Secretary Carlisle have the courage
90 their convictions, and whether they can i"'u-
onc. rho incoming Congress 20 adopt sound ie2is-
ia,;on If they can then no detrlment VIII come
% the Republic from silver legislation under
10 '"o w. H. WEST
. ReI,efontaine Ohio, Aug. >, 1893.