The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-08-10
The Papers Of the Money Center
Unanimous in Commencing
.=.. the Message
They Claim That Silver Should 30
Allowed to Find It's Own
Level.
Solution of the Problem VIII not Lead to
Himetallfsm-The Lesson of
Importance.

LONDON. Aup. 9.-The Daily News says
In hrmness of tone. nncompromisinQ
thoronghness Of policy, Cleveland's mes-
saRe will fully meet ths expectations OF the
county. Chapiin's and Balfour's atau-
ments are practically answered from the
other side of ths Atlantic. The president
let's the fanatics down easily, suggesting
that although perhaps she larger place
claimed for silver in the worlds currency
NAV be brought about by general tnterna-
tional cooperation, the United States
will not gain a hearing whilst trying to
bring about that result single handed.
What our bimetnllists will say Of this ter
rible exposure OF ths failure of the great BIZ
me,eliic experiment.. We need not attern pt TO
forecast. 1t will probably excrt great ef-
fort upon wayering memb bers OF the United
States congress and bring about the COM
pete repeal which the president advises.
The president and congress can only re-
move the original causes of the imitation
Of prices and the growth of rotten specula-
tion which led TO the present disasters.
The latter cannot be imme ediately Hemeiied
by congress. The panic OF 1873 was fol-
lowed by five or six years OF depression.
Unless matters grow much worse than now
the present panic ought not to be equally
severe or p olong d."
The Financial News: "Cleveland's Plea
fox the repeal of ths sherman act is virtu-
ally nnanswerable. The question. whether
the stoppage of monthly purchases would
Immediately end the crisis is not easy to
answer. We are not inclined to reply Off
handed in the affirmative. II the American
people show as much faith in their our
renoy when Watering ceases as they did in
the first years Of silver pu chases. the effect
of the repeating of the Sherman act may
be Immediate. There is more reason for
such faith now than three years ago.
Standard: 'lf International bime ism
has not been brought about. the reason IL
that the balance of advantage or disad-
vantage Is dead against 1t. An az cement
to keep no fxed ratio between tho two
me tails would CO. tsinly do muca mischief.
The latest chapter Of transatlantic cur sncy
trickery may be cad in Clevsland's mes
sage. Therein he sets forth in terms tie
| substantial accuracy of which cannot bs
contested, the confusion into which
tho indefinite substitution of boarded
silver. always dep.eciatina in value.
for Il comparatively staple gold coinage.
has involved all transactions of which
credit is an element. The moral. though
we do not expect bimetalIists to agree with
a.
let the metals find their own level. and thas
it is hopeless by any artificial. arbitrary
system to give permanently to silver .
value in exchange largely exceeding its
value as determined by the cost Of produ0-
tion. Il will truly be said Cleveland full
inmates against silver legislation because
ne owes his election largely to tho anti
silver party, but the fact remains to be ex-
planned why community which has had
long experience of the practical effect Of tho
artificial appt eclation of silver, declared al
the polls against the party committed TO .
continuance of the experiment"
Daily Telegraph: ''Ths presidents mes
sage is a very striking document and goes
straight to the root of disquiet or stag
nation existing in America. Assuming
that congress will hasten to repeal the
Sherman uot, it Is pernars as we'll. in the
interest of financial stability everywhere,
that the disastrous experience has besn
gained"
Post: "Amerios cannot we'll stop at the
repeal of the Sherman not. The Post
throws out no suggestion, but some action
| is certainly necessary. 1t ia probable the
solve may lead not 10 bimetRllisu but to .
more mature. unbiased consideration of tho
possible uses of silver. AZ pAtt OF the
| world' currency metal II cannot be demone-
.lzed with safety. and if, through America,
some method for its moro extended en-
4 llOyIueut Is oSNircu, iho bCncuto ~ tuo
world would be of suprene Importance"
Daily Graphic: Yesterdays proceed
ings in the United States congress and in
the house of commons ought to be read
side by side. Cleveland's striking picture
OF the evil wrought 10y free silver in the
United States constitutes an effective an
| swer to Chapiin's economic fallacies. Ii
passes human comprehension that in the
face of the change of policy in the United
| States English bimetaiiists should advo-
cate return to free silver in India"
Times: Ut may nerhais he thought
the president. M the head of his party. and
on the eve of apar,y fight. il not likoly
to undertake q case for action
which his party contemplates. but
it will be difficult to convios
him of exagQeration in the face of daily
| returus American prices and exchanges.
| No permanent Improvement can be looked
| for until congress abandons the task of
attempting 10 maintain an artificial ratio
| between si yer and gold. 1t is one of tho
mysteries of politics how IA ooml nrativeiy
small body of men has succesded in dictat-
ing the financial policy of great nation
for its own ends. President Cleveland Is
manifestly doing everything possible TO
terminate tho evil, but silver interss are
certain to make q tough fight. ID 10 NOT
easy TO irsdies the precise issue Of the
| struggle"