The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-02
The President,s Victory.


! The President has won notable vie
/ tory-a victory that makes him stronger
with the people than ever before,
although his popularity has been
! remarkable ever since he entered
/ public life. The House yesterday,
I byan overwhelming majority, conourred
/ in the Senate's amendments to the repeal
/ bill, and the purchase clause of the Sher-
man silver law is a thing Of the past.
/ Had the President been n weak man
/ and yielded to the pressure in favor of a
/ compromise, it is a question whether
there would have been any legislation at
/ all in respect to the Sherman law, be-
cause there would have been stubborn OPP
position to any compromise measure.
The compromise that was proposed was
far from satisfactory TO some of the dem
ocratic senators who agreed TO it, and its
fate in the House, to say the least, would
have been extremely doubtful But even
that compromise offered nothing more
than continuance Of the purchase of
silver bullion for a year longer and the
coinage Of what is called the seisnorage
Of the silver already purchased. 1t did
{
what the silverites were coutending for.
If the Sherman silver law was a bad law,
as the national democratic platform says
II was. there was no good reason for put
ting of its repeal for year if it could be
repealed at once The President believed
il could be repealed if the right. kind of
an effort was made. and it was repealed.
Many-Of those democratic senators who
signed the compromise agreement, did so
because they were led to believe that un-
conditional repeal was impossible When
they found that the President believed it
was possible they withdrew from the
agreement, and they are now, doubtless,
glad they did
The idea that has been thrown out that
the national democratic platform calls for
the repeal of the whole of the Sherman
silver law is not worthy Of serious consid-
GRAFTON. 1t is true the platform speaks of
the whole act. but the understanding all
along has been that the purchase clause
of it is meant Nobody except Senator
Morgan ever proposed to repeal the whole
act, and it Is question whether he was
in earnest. The declaration OF the plat
form was aimed at the silver purchase
clause, and it was so understood by the
people
No democrat has any reason to find
fault with what has been done in respect
to the Sherman act, because what has been
done is in strict compliance with the
national democratic platform. If any
thing can be done to bring about greater
use Of silver in the currency without i'm
pairing confidence in the ability OF the
government to maintain the parity be
tween gold and silvcrit will be done. but
it is certain that the people will never
sanction the unlimited coinage of silver
dollar whose intrinsic value is far below
its face value. The people are not against
sound silver money but they are against
unsound money of any kind.
The people demanded that the pur-
chase of silver be stopped, and they now
have what they demanded There will
be no more purchases of silver, and it
may reasonably he expected that the
business depression that has existed so
many months viii now disappear. In
fact, it began to disappear as. soon as it
became apparent that the repeal bill
would become a law.
The fight against a debased currency
has been notable one, and it has cost
the. country an immense sum- but the
fight had to be made and now that vic
tory for sound money has been won bust
ness and industrial prosperity win stead
lily return. Confidence being restored, the
money that has beenlocked up for months
will seek investments. The factories
that have been shut down because of
monetary difficulties will be started
again, and in a few months the volume of
business will be as great as twas before
depression began. The silverites will, of
course, continue to agitate the silver
question: but they will not find as many
willing listeners as they once did. The
people know more about the silver ques-
tion now, and while they have no hostil-
ity to silver they have to a debased sill
yer currency.
As for the Democratic party, the long
struggle over the repeal DILL will do it no
harm. Those who opposed repeal will
stand by their party and work earnestly
for the reform measures which the Dem
OCratic party has in view