Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1894-05-05
CLEVELAND LIKES IT.
The Silver Agitation Viewed Favor
ably by the Administrations.

Washington, May 5.-The agitation in
Europe and notably in England in favor
of the rehabilitation of silver as money
metal is being observed with great salts
faction by the administration for it is re-
garded as strong confirmation of the cor.
rectness of the principle to which Presi
dent Cleveland has 80 steadfastly adhered
through thick and thin and sometimes at
the risk of his own popularity with his
party.
The president has coItended that true
stable equality of gold and silver could
be brought about and maintained only by
agreement between the great financial ma
tions of the world. With this conviction
he has been obliged to resolutely oppose
all attempts at individual action by the
United States wher. the extreme silver men
have declared that there was and could be
no hope of contamination of the desired
international agreement.
The president has declared that firm
and steadfast adherence to the line of
policy initiated by the repeal of the silver
purchasing sections of the Sherman act
must inevitably bring about the desired
result.
One of the purposes in view then was to
relieve the United States from the loss
and danger to which it was sub jected by
the efforts to maintain unaided by any of
tho great financial powers the integrity
as money metal of a vast silver circu-
lation. Europe had prospered under the
old conditions and was well satisfied to
allow the United States to bear the burden.
ha
suspendng further efforts in that d.
rection the United States would cause the
European nations to feel the need of
larger circulating medium and to share
at least with us the hardships of monetary
stringency.
Therefore, the movements now in pro-
gress in England, Germany and France
are regarded by the administration peo-
pie as evidence of the successful working
of the presidents policy.
Great Importance is not attached to the
attempt initiated by Mexico to secure
another conference, though it is not true
that the president has refused to join the
for as a matter of fact, the
Mexican government has not yet made
any tangible proposition and has confined
its efforts to sounding other governments
to learn how formal invitation would
be received.
And notwithstanding the rosy promise
held out by European agitation, our gov
ernment is not yet satisfied that salts
factory international agreement can be
reached in the near future.
The pressure has not yet become so Sc
we're as to warrant this belief on our part
that such nations as Great Britain and
Germany are ready to abandon their long
cherished convictions and take up the
double standard.
Probably some kind of an agreement
might be reached now, but according to
the views taken in financial quarters here
it would probably not realize our desire
to put silver on a perfect equality with
gold and it is thought would postpone
indefinitely that restoration.
Therefore it is probable that our gov
vernment will pursue conservative
course, declining to take the initiative
again in view of the fruitless conference
already held, and bide its time until the
united powers, and particularly Great
Britain, are prepared to invite the United
States to join in conference which
shall have before it some distinct propo-
sition looking to the rehabilitation of
silver, and with sufficient power lodged
in the members to insure practical
outcome.