New-York tribune., 1894-04-30
uIY OF .UDG MENT.

Tho demand for more money ana cheaper
money has been foStcrcd by the Democratic
porty in Western and Southern States ever
since thc cloS,. OF the Rebellion Patriots Ike
yoIlondigham and Voorhees,. who had been III
moro or less sympathy with the Knights of the
t;rldcn Circle and other dsloyal organizations
during the Rebellion. seized the earliest oppor-
tunitv after the struggle was over 10 stir mp
uo,uIar hatred Of bondholdcrs. Their first pro-
posal was that The bonds should be paid by
nrinting unlimited quantities Of deprecated
papcr. Dislodgcd from that position by the III
dl.,nation of honest and loyal men. the North
crn allies Of the Rebellion next insisted that
tho issue Of erccnbacLs. which they had de-
nounccl rs unconstitutional AMI infamous when
# WAS first made should be- vastly Increased
People were told thn, more paper would make
prices higher. aud 50 everybody who had any
thing to sell would grt more for it.
The appeal came when the people were much
embarrassed They could not understand that
tho General decline in prices and wages WAS
necessary and unavoidable incident of return
70 prospcriry and health after the strain Of
Democratic rebellion Democrats told them
that Secretary McCulloch had caused the trou.
Bile bv contracting the paper circulation The
became more valuable after The war had ceased
when il was plain that the Nation WAS able
and determined io pay is debts. N"c' c'ssarily.
as the papcr became more valuable, its larger
purchasing power found expression in lower
rrices. and as products Of labor brought fewer
dollar, employers were forced to pay ont fewer
dollars for labor But this return to a state -
health WAS irving To- many. particularly To- the
,l, U-lt, ItuI hfrrp,Nel
than they could pay. aud III" socallcl Green
back party came into being with The great idea
tina, the way To- make everybody happy was 10
print more paper dollars. II was beaten down
by C-1nt's veto of the imitation bin. 10y the
Uavcs campaisn Of lN75 in Ohio ana lay his
Presidential victory in 1N7G. hut in fishing for
the Grc,nback votes the Democratic party had
committed itself throughout the West 10 iinan-
ciol notions scarcely less crazy and scarcely less
di>loyal than those Of The knights II The Golden
Circlb Immediately after The war. The silver
fauaticiSm made things worse b"caus" many
mon who meant io be- honest and sound were
caught with the notion that silver dollar must
hc q good dollar even If II was cheap. They
missed the bottom truth of all monetary dis
cnsslon. that NO Kind of money is good which IS
liable to become di.crcliicd in comparison with
ihc money Of commerce In which The worlds
prices are made II this country never want
cd to sell wheat or cotton. pork or tobacco or
OIL The. ease would hc different II cannot af
ford 10 have i'm circulation Il Kind of money
less valuable than that in which the prices of
lis most important products are made.
Thirty wears of continued and utterly I'M
scrupulouS appeal 10 the haScSt prciudiccS and
missions has brought harvest which ia" Dem
ocraiic party doc, not enjoy. Itself compelled
+, dcpcnd on the votes of commercial cities
at the North. II has played The trickstcr In this
business as long rs it had not the responsibility
of power. and has cheated the West and South
with promises which Eastern Democrats never
intended TO keep Al last Western aud South
crn Democrats are threatened IN their own dis
trcls and States 10y an opposition which de-
mands free coinage Of silver and NOR" paper
currency 10 The extent of $50 per capita. and
in order 10 get II all into circulation proposes
loans on land and on crops Nobody can con
vince Western and Southern Democrats that II
the doctrines they have been taught for thirty
years are right. the PopulistS are wrong. II
more money is needed, if it Is an intolcrnblc
wrong 10 deny more money to the people there
must be provided some way Of getting 1t into
the pockets of the people Tho S2OOOOO.OO0
living idle in Wall Street does not prevent the
lowest range OF prices ever known. What the
PopuliSt Democrats Of the West and South
really want is deprecated paper with low-pur-
chasing power. SO that prices must be- inflated.
As their own parry is unable 10 ruin tbc COIN
try In that way. they threaten 10 abandon II, 10
defeat It's most important measures. and 10 90
over bodily TO the PopuliS,s. II is not a pleas
ant dilemma. Yet 1t is only just rctribulion for
thirty years Of shameless appeal TO the grosscSt
ignorance and the bascst passions ani prcju
diccS