New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-26


po,sions Of the principal been coming due ana mas
10 psid IN gold becsu It was - "nomInased IN the
bend" and hence gold has naturally oee" ies'"s VI
Tor foreign shores.
uNEAslNESs oy PROTECTED INDosrhiES'
Unouestionsbly OF the present d'meu''y may ~
a,shntrd IN tho uneasness OF our pfotectea huuso'
hh =. % hso accustomed b rely certain extent up
on Governmental avoritsm 10 support them 40 NOT u
euisa the fact that such uneaslness exiss anu 'e'
cons,butes Its share to the general existing o's'"ro
Of financial affairs but there is no rc'iei LOT 'ns
t,on unless the dominant party abandons IL prncpeS ~
su,rnders IN advance 10 the interests which were NC
Nssted NJ the last election. The Democratic y" !" "
pledged TO tariff reform and II must redeem i's "s
conn what may. OF course, IL must DE eNpec'ca .
viii he some friction. 1t Is unavoidable ~ Is mo,uc
q, the .r,,patcd withdrawal Of public aid from pri'ae
and t cannot prevented but must DC c
durcd The people perfectly understood the question a''
fell and they voted with their eyes wac oPe"' N''
course is onward and we shall not retreat =.
Second-Some portion Of the present pa''o ""' "
traced N a concerted effort the part OF numerous '
mesallists to produce in order to further dsereu %
as a part OF the standard money Of the county, III
rhoulish ciee they welcomed bank failure cspcoa
in the silver States, little dreaming '"a' '''" '
would soon at their own doors. - .,,,
They encouraged the boarding Of money they '"'''
auratci the policy Of refusing loans TO the peop
upon tbs security; they circulated ia-e pe ,n
passed absurd and alarming resolutions prc"'V''
drc.t disastcr attacked the credit OF the Government,
sought 70 exact premium upon currency anu w..
In every way 10 spread dstrust broadcast Throughout Wiz
land
THE SHERMAN LAW PARTLY RESPONSIBLE
ThirdTbe Sherman silvcr-purchasc law has been ~
least in part and possibly the most largely ins' $50
IN poiucinc the existing complications no o'e wv.
descnds IT, Few apologize for IL. The pohtcA' P''!
that enacted IL the most anxious tor ''s
1t was a violation Of every correct principe u =,
science. 1t was not an honoraDie compio
was a makeshif,, a subterfugc, mere temporary '
Tho Pr In
This time for obvious reasons, to offend the
Of those had voted for IT, pohtciy ca"o. 4" A., III.
1t has been asserted that the president "''"'' -,
Aostility 10 independent frcc-silver coinage' wa" P
~ 49,. ,,. % rog.ra with favor aceuiesce In the pro
visions Of the sherman law. which had occn '"c'"''
or means by which such free coinage nau wv" S ,
Whether this be not, the 'se' ren""e' ~ -,
oscancd observation that Will the Democrauc N's o'a
-, ..,nnd tho sherman law and demanded It's
$500, as,ounceI IT, not rs the result OF 'tr"ee ou'
az a "cowardly makeshift'-yet Mr. oieNeia"u 'e "
his snecch delivered o Madison Square "auei, Wv"
vort IN answer 70 the notification Of his nomination. h
In his .ubseauent letter Of Acceptance nor IN HIS
.ddross IN March last criticised the Sherman law" HUI
made any xllusion to IL whatever ahoush IL WI" ne
already thrcatcniha the prosperity OF the country WIN ~
dangerous results its operation. which were api~re
N every one who given the subject any caeu' "'
tien. ,,,.. ..o.,.noo
Nv own Personal record is of the slightest consequence
but the Senate will pardon me for aiudne 70 'he INV
that my views Of character OF that act are
no, newt but have been entertained anu feP'"'eN' 'N
pressed ever since its passage -
1 sought in speeches, which have been wideiy pup.
lshed 10 arouse the people TO the Importance oil iep
OF that law 1t is useless disguise the act that AZ tha'
time there existed much apathy upon the suo'ce" o'"'
topics seeming TO engrrss the public attention.
NETWORK DEMOCRACY WANTED REPEAL
The Democracy Of New-York, in their state p'''orin
1891 hit the nail upon the head when 'Aes
follows: - ,,
Eve denoupee @the Sherman silver 'a"' uhu',
which Of our gold stock has been eNpoco anu
all our silver outpu, is damned up at home a. 'a,s
pesence but arful hndrance OF return 70 free o"e''
coinage, and tending only TO prcduce ehanse o Val"
kind Of monometal.ism to another"
The Democracy Of New-York wanted that law 1epo'ea
because IL blocked the way TO free bimesc coinsee' Oh"
not because IL would aid the cause OF monome'ais".
That Is exactly my position to-day am oi"e'ahis"
= Az not believe in single gold standard nor single
silver standard but do believe in the use OF boh so'
and silver AS the standard money OF the couu.rS' aA ~
their free coinage In mints at proper ra''o "'o
any discrimination in OF against the other Ana
rs such bimetanist favor the repeal OF the Shefsn ~"
because H. Is undemoeratic illogical, dangerous iii AUS
tendencies and results impeachment TO free coinage anu
disgrace TO the silver cause
rhe sherman law is objectionable It directs the
nnrchase OF silver instead Of providing Tor the Tree
~ silver Purchase price, price means COMMONLY
and the treatment OF silver commodity means i's u
roeation from intrinsic rank as money meta "o'.
has free coinage and hence it price In the United
Government consent to prolong its derogition Such
purchases can never promote their proposed object TO VIII
the preservation Of parity between the TWO metals
HOW PARITY is PREVENTED.
siver.coning nations have purchased silver The'
coin for the people just as eodcohing ha'o"s eo''
,old Their silver IL melted, loses none OF its voluc 10
is assured recoinage into the same amount OF iu e
tender money again without loss 1t is the absence OF I'M
free coinage Of sver-the existing OF limited ana re
stricud coinage-that cOmpels Government p"rchase
pQrit
Mr. Bland in 1879, should have insisted upon nj
original bill which for the free coinage OF silver
and either lost on that issue But he was per
suaded accept limited coinage, ana there mas pee
dcuty, disparity. tmidlty and danger evor since In
Sherman perpetuoed and exaggerated the same error
Tho Sherman law should repealed and for the same req
son the Bland. Allison law should not be revived IRE
bmctalic coinage should be the goal for which VIC snou
now strive.
As have already stated there is remedy for gu
own immediate domestic din. uty-repeal pure and Sin
pie; unconditional repeal
Rut delay o. appreciate the wider scope and foreig
implications Of our injection has let In hndanc
greater than the Sherman law ITSELF Great Bnhin' o
stopping free coinage India nterpoes perhaps create
hindrance that resumption than the act oil f'ehe
in Stopping bmeta coinage in order TO defeat Gel
many's campaign OF substitution In 1879
Free bimetac coinage Is not witchefuft. Ii Is bus
nese independent free bimetallc coinage BY IN
United states consistent with the counsels OF none
tsry II is TO rest pe mancnty upon an Amos
isolated freclver coinage Our return to Tree bme'a
coinage is therefore, row, for the hrsa hine sine
1873 subject possibly to the new hindrnncc ana pfio
condition Of an adequate international agreement.
INTERNATIONAL FREE COINAGE
international free bmptallic coinage remains no les
capital interest 6 the human race, because its renew'
may now possibly passed b,yond the competency
a single government IL Is less thsn ever
has been during the two decades OF It's vanished b"nei
cence the most far-reachIng, worldly interest OF tn
loren ost nation Of civilized men.
1 would myself accept the Idea that the Anelo'inoa
ot.se is merely monumental British stupidity 1t wer
the first act monetary drama Instead OF the fourth
Great Britain defeated the renews. OF the parity o
oold and silver at the monetary conference of 1873
Great Britain defeated the renewal OF the parity OF aoI
and silver at the monetary conference OF 1881
Great Britain defeated the renewal OF the parity
gold and silver ut Brussels monetary conference
1892. -
49,. Obtain nnw In lH9X Is combining her Asa