The news boy., 1894-04-07
THE BLUNDEK HAS COME.
From the St. Louis Rs.,hblic.

From the St. Louis Re;'tblic.
Mr.. Cleveland has always let his
friends have the consolation that
however much troAble he has made
he has not shufficd or lodged.
He has not departed from his Gus.
tom. We get veto without subter>
fuge.
Thanks.
He might have withheld approval
and charged his action to the flaws
of construction with which the au-
thors plentifully endowed the bill. A
slippery politician would have done
it that way and trusted to the late
ness of the session to stop the pas
sage of perfected bill. Cleveland
comes out and tells us that, while
the flaws are enough to account
for this veto, he regards the gold re-
serve as the only basis of the curren-
cy. and will not consent to an infus-
ion of more silver unless measures
ere also taken to strengthen the gold
foundation. He will only concede
that the seigniorage part of the bull
lion-S55. 900. .000-might be safely
utilized if better authority for issu-
ing bonds were conferred upon the
Secretary of the Treasury.
Under the specific instruction of
the law. the Executive is bound to
preserve the parity of the two dol
lars. With the difference that now
exists between the commercial values
of gold and silver, that parity could
not be maintained if there were free
coinage at the old ratio. So far Mr..
Cleveland is undoubtedly right. He
must obey the law as he finds it.
But there is nothing in the mes
sage to prove that the coinage of the
bullion would endanger the parity.
1t would be only slight addition to
the total volume of paper currency
There is S156. 900, 900 in Treasury
notes of 1890. The seigniorage rep
resents the only addition. 1t looks
like sort of terror when q public
officer says that we could not safely
add $50. 900. 600 or thereabouts to the
1880. 100000 silver certificates al
ready serving the purpose of money
usefully and without question. y
Comparing the resources Of this
country with those of the Continen-
tai European countries and our sill,
yer circulation with theirs--and their
ratio values silver higher than ours
it would rather seem that we
could float 10 or 90 times the total
amount of the bullion.
Mr.. Cleveland S associations and
line of thought lead him to other con-
clusions. He will not compromise
with the views of his party.
It cannot be expected that the bill
will be passed over the veto. The
party must meet the most difficult
situation it has ever faced in the
South and Southwest. 1t has but
one explanation to offer for the veto.
and that is the we'll known fact that
the Democrats of the Southwest and
Mr.. Cleveland have never profcssed
to agree on this subject.
Mr.. Cleveland has made q political
blunder. Not only that-he has fal-
len short of the measure of true
craftsmanship. He has done what
will cause the results he is so anX.
ious to avoid. He has strained tC
breaking the cohesion Of his party
In this Congress he will find the par
ty majority luliewarm: and in the
next Congress he will have either lit
tie support or an actively hostile ma
: jority.
No doubt he will still be popular
in Eastern New York and Northern
New Jersey.
To be entirely devoted Il, his con
science and TO be alsc beneficial t.
| his associates a man must be very
sure that his conscience is enligh,en
ed.