The morning call., 1893-08-10
ENGLISH PRESS OPINIONS.
Where the Presidents Views rleet
Unqualified Approval.

LONDON, Aug. 9.-The Daily News says
commenting on the Presidents message:
In firmness OF tone, unc0mpromising thor
oughness of policy. Cleveiand's message
will fully meet the expectations Of the
country. Chaplin'S and Balfour's argu-
ments are practically answered from the
other side of the Atlantic. The President
lets the fanatics down easy By suggesting
that although, perhaps. larger place
claimed for silver in the worlds currency
may be brought about by general interna-
tional cooperation, the United States will
not gain hearing while trying to bring
about the result single-handed. What our
bimetallists will cay to this terrible ex-
posure of the failure of the great bimetal-
lie experiment we need not attempt to
forecast.
1t will probably exert great effect upon
the wavering members OF the United States
Congress and bring about the complete
repeal which the President advises. The
President and Congress can only remove
the original causes of the imitation of prices
and the growth of rotten speculation which
led to the present disasters. The latter
cannot be Immediately remedied by Con-
gress. The panic OF 1873 was followed by
five or six years of depression, and, unless
matters grow much worse than now, the
present panic ought not to have equally
severe and prolonged effects.
The Financial News says: Cleveland's g
plea for the repeal Of the Sherman act is
virtually uDanswerable. The question
whether the stoppage of the monthly silver
purchase would Immediately end the crisis
is not easy to answer and we are not in
clined to reply offhand in the affirmative
If the American people show as much
faith in their currency when purchasing
ceases as they did in the first two years Of
the silver purchases, the effect Of the re-
pealing of the Sherman act may be imme-
diate. There is more reason for such faith
now than there was three years ago.
The Standard says: If international bi-
me.allism has not been brought about the
reason is that the balance of advantage or
disadvantage is dead againstit An agree
ment to keep up fixed ratio between the
two metals would certainly do much mis-
chief. The latest chapter of the trans
Atlantic currency trickery may be read in
Cleveland's message. Therein he sets
forth. in terms the substantial accuracy
of which cannot be contested, the c"nfu-
sion into which the indefinite substitution
of boarded silver, always deprec'ating in
value, for comparatively stable gold coin
age has involved all tran nsactions OF which
credit is the element.
The moral. though we do not expect BIZ
metallsts to agree with US. is that it is
infinitely safer and wiser to let metals find
Their own level, and that il is hopeless, oy
any artificial. arbitrary system, to give
permanently to silver value in exchange
largely exceeding its value rs determined
by the cost of production. 1t will truly be
said that Cleveland Eliminates against
silver legislation because he owes his elee-
tion largely to the anti-silver party. But
the fact remains to be explained why a
community which had long experience OF
the practical effect of the artificial appre-
citation of silver declared at the polls
against party committed to the c0ntinu-
ance of the experiment.
The Daily telegram saws. The PreSi-