The Durham daily globe. (Durham, N.C.) 1889-1894, 1894-03-30

Ill VIZ SNANA AhSOA NOtC "
our people.
"Our recovery being SO well under
way, nothing should be done to
check oar convalesence; nor should
we forget that a relapse at this time
would almost surely reduce us to a
lower stage Of Financial distress than
that from which we are just emerg-
ing.
II believe that if the bill under
consideration should become a law,
it would be regarded as a retrogres-
sion from the financial intentions in
dlcated by u recent repeal of the
provision forcing silver bullion pur-
chases, that it would weaken if it
did not destroy the returning faith
and confidence in our sound tinan-
cial tendencies, and that as a conse-
quence our progress to renewed bus
mess health would be unfortunately
checked and a return to our recent
distressing plight seriously threat
ened.
"Considering the present intrinsic
relation between gold and silver, the
maintenance of the party between
the two metals as mentioned in this
law can mean nothing less than the
maintenance Of such a parity in the
estimation and confidence of the peo-
pie who use Jul money in their daily
transactions. Manifestly the main
tenance of this parity can only be
accomplished, SO far as it is affected
by these treasury notes, and in the
estimation ofthe holders Of the same,
by giving such holders, on their re-
demption, the coin, whether it is gold
or silver, which they prefer. 1t fol-
lows that while in terms the law
leaves the choice Of coin to be paid
on such redemption to the discretion
of the secretary Of the treasury, the
exercise Of this discretion, if opposed
to the demands of the holder, is en-
tirely inconsistent with the effective
and beneficial maintenance Of the
parity between the two metals"
He rests his objection, to some ex.
tent, on the framing of the measure:
THE entire bill is most unfortu-
constructed. Nearly every
sentence presents uncertainty and in
vites controversy as to its meaning
and intent"
Then he comes out ~squarely and
slaps silver in the face:
Il am not willing, however, to rest
my objection to this section solely on
these grounds. In my Judgment
sound finance does not commend q
further infusion Of silver into our
currency at this time unaccompanied
by further adequate provision for the
maintenance IN our treasury ofa gold
reserve"
He closes the message as follows:
Il am convinced that this scheme
IS i'll advised and dangerous AS an
ultimate result of its operation, treas
lry notes which are legal tender for
all debts, public and private, ?nd
which are redcemable in god or
at the option Of the holder,
viii be replaced by silver certificates
whatever may be their char
actcr and description, viii have none
If thei" qualities. in anticipation of
his result, and as an Immediate
the treasury notes will natur
lily appreciate in value and desira
Mr.. Cleveland divorces Himself
rom MS party.
Cleveland and the national admin
Stration are no more in sympathy
With the great mass Of democrats
han the devils of darkness are with
he angels Of light.
The administration has stepped on
he peoples toes-and now Mr..
Cleveland slaps them in the face.
This veto will have far-reaching
Importance.
Its effect can only be measured in
he ballots of the coming campaign.
CRISP THE A~PPOINTEE.