St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-10
PRESS ON THE MESSAGE.

London Post-America cannot we'll
stop at the mere repeal of the Sherman
act. The Post throws out no sugges-
ton, but some action is certainly neces-
Sary. 1t is probable that the problem
which the United States has TO solve
may lead, not to bimetallism, but to
more matured and unbiased considera-
ton of the possible uses of silver.
London Daily Telegraph-'rhe presi-
dents message is very striking docu-
ment, and goes straight to the root of
the dlsqulet or Stagnation existing in
America. Assuming that congress will
hasten to repeal the Sherman act, it is
perhaps as we'll in the interest of finan-
trous experience has been gained,
London Telegraph = Yesterdays
proceedings in the United States CON
gress. and in the house of commons
ought to be read side by side. Presi-
dent Cleveland's striking picture
of the evil wrought by free
silver in the United States constitutes
an effective answer to Mr.. Chapln's
economic fallacies. 1t passes human
comprehension that in the face of the
change of policy in the United States,
English bimetallists should advocate
return to free silver in In dia.
Atlanta Constitution-Mr. Cleveland's
message faYorS and Endorses the Repub-
llcan policy of repeal, and entirely ig-
noreS the Democratic policy. If he is
right the Democratic party is wrong
and has been wrong for twenty years.
1t he is right, John Sherman and his
Republican colleagues are right, and it
is eminently fitting that that rampant
force bill champion and gold monomet-
alliSt, Henry Cabot Lodge, should, as
he did, assume charge of the message
In the senate and move its reference to
committee with instructions. ft..t
London Financial News. President
Cleveland's plea for the repeal of the
Sherman act is virtually unanswerabIe.
The question whether the stoppage OF
the monthly silver purchases would i'm
medlately end the crisis is not easy to
answer. We are not inclined to reply
off-hand in the affirmative. If the Amer
lean people show as much faith in them
currency when watering ceases as they
did In the first two years of the silver
purchasing, the effect of the repeating
of the Sherman act may be immediate.
There is more reason for such faith now
than there was three years ago.
London Standard: If interna tional BIZ
metalliSm has hot been brought about, the
reason is that the balance of advantage
or disadvantage is dead against it. An
agreement to keep up fixed ratio be
tween the two metals would certainly
do much mischief. The latest chapter
of transatlantic cure ncy trickery may
be read in President Cleveland's mes
sage. Therein he sets forth, in terms
the substantial accuracy of which can
not be contested, the confusion into
which the indefinite substitution of
boarded silver, always depreciating in
value, for the comparatively staple gold
coinage has involved all transactions in
which credit is an element. the moral,
although we do not expect bmetallists
to agree with us. is that it is infinitely
safer and wiser TO let the metals find
their own level, and it is hopeless by
any artificial, arbitrary system TO give
permanently to silver value in ex-
change largely exceeding its value as
determined by the cost of production.
1t will truly be said that Mr.. Cleveland
Eliminates against silver legis lation be-
cause he owes his election largely to
the anti-silver party, but the fact re-
mains to be explained why the COM
munity which had long experience of
the practical effort at the artificial ap-
probation of silver declared at the polls
against the party committed to the con-
tlnuance of the experiment.