The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1894-05-09
Uncle Sam to Keep Down Silver
to Punish Europe.
EUROPE MUST NOW SPEAK
The President. Meanwhile. 10 Nightly
Pleased With His Actions Tho
West Can't See 1t That Way.


of the reha bilitation of silver as a money
metal is being observed with great
satisfaction by the administration, for
1t Is regarded as strong confirmation of
the correctness of principle to which
President Cleveland has so strenuously
adhered throughout thick and thin and
sometimes at the risk of his own popu.
larity with his party. The president
has contended that the true and stable
equality of gold and silver could be
brought about and maintained only by
agreement between the great financial
nations of the world. With this conten.
ton he has been obliged to resolutely
oppose any individual action by the
United States.
When the extreme silver men have
declared that there was and could be no
hope of consummation of the desired
international agreement the president
has replied that firm and steadfast ad-
hesion to the line of policy intimated by
the repeal of silver purchasing sections
of the Sherman act must inevitably
bring about the desired result. One OF
the purposes in view then was to re-
lieve the United States from the loss
and danger to which it was subjected
by efforts to maintain, unaided ty anv
of the great financial powers, the In
tegrity as a money metal of the vast
silver circulation. Europe has pros
pered under the old conditions and was
well satisfied to allow the United States
to bear the burden. The presidents
theory was that by suspending further
efforts in that direction the United
States would cause European nations to
feel the need of a larger circulating
medium and to share at last with Us the
hardships of 4 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 work
of the presidents policy.
No great. importance is attached TO
the attempt initiated by Mexico 10
secure another conference, though 1t Is
not true that the president has refused
to join In the movement, for as 4 mat.
ter of fact, the Mexican government
has not yet made any tangible PROPOSE.
ton, and has confined it's efforts to
sounding other governments to learn
how the formal invitation will be re.
ceived, and not knowing that the nee.
essary promise has been held out BY
European countries, our government is
not yet satisfied that an International
monetary conference can be reached in
the near future. The pressure has not
yet become so great as to warrant the
belief on our part that such nations as
Great Britain and Germany are ready
to abandon their long cherished convic-
lions and take up the double standard.
Probably some kind of 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 perfect equality with
gold, and it is thought would postpone
Indefinitely that restoration. Therefore
it is probable that our government will
pursue conservative course, declining
to take the initiative in view of the
fruitless conference already held and
bide its time until the united powers,
and particularly Great Britain, are pre-
pared to invite the United States to
Join in a conference which shall have
before it some distinct proposition look
ing to the rehabilitation of silver and
with sufficient power placed in the
members to insure practical outcome.