St. Paul daily globe., 1894-06-24

heretofore prevailing should be abol-
ished, and the Indian actually trained
for actual citizenship.
NOT FINALLY SErTL ED.
1t is now apparent that any expecta-
tion that the silver question was put at
rest with the repeal of the Sherman
purchase act was based more on hope
than reality. Evidences are thickening
that silver refuses to stay down, and
that it is one of those questions. like
free trade, which will press for solu-
tfon, and will not cease until 1t is rightly
adjusted. 1t is just as we'll to look ex.
isting conditions in the face without
either blinking or shutting our eyes to
them. Ii the question Is to be settled,
right conditions must BIZ considered and
economic laws taken into account.
1t should not be party question, for
it is purely business one, touching all
the infinite exchanges of the products
of labor. But one party, the Populists,
seek to make it one of their catch
pennies, and the changed attitude of
several presidential aspirants indicates
that the Republicans are willing to find
| shelter from the assault of free trade
behind silver subterfuge. Their will
lngness to use protective tariff as
trading stock. to be swapped away in
| freer trade for an international agree
portance they put on the ote-getting
qualities Of the silver question.
Que OF the conditions is the division,
regardless of party lines. of public opin.
ion into three classes. On the one ha nd
are the gold monometallists, largely,
though not wholly, made up of creditors,
| naturally solicltOus to be paid in the
metal having the widest and most uni
form currency. With them are those
who are convinced that the free coinage
of silver at ratio Of sixteen to one
would deprive the country of it's gold as
currency, causing shrinkags of half
the money. and producing immense dis
aster. They are not especially attached
to single gold standard, but are driven
to its support by what they consider the
unreasonable demands of the free silver
men. On the other extreme are the
people who. Ignoring. the existence of
conditions changed by the demonetiza-
tlon OF 1873, and the lmpossibility of re-
storing them by mere restoration of
the act repealed. would throw open the
mlnts to the free coinage of silver at
the ratio of sixteen ounces of the white
to one of the yellow metal. No one.
party monopolizes the. people of this
mind any more than any one party em-
braces the single standard men.
Between these extremes stand the
greater number on middle ground. They
veuerate neither metal; they recognize
both as suitable money metals; they
admit that the decentralization of silver,
by lessening the demand. decreased the
value; they take no stock in the asser-
tion that all prices have fallen because
silver has; they would relieve silver
from the ban and put it in position
where it might vindicate its value with
the other commodities of the earth. but
they are unalterabIy opposed to having
this done at the public cost or in any
manner that will on the one hand de-
prive gold of its currency function, or,
on the other. give to silver producers a
market for their bullion at twice its COM
modify value.
Those occupying this middle ground
do not believe that the power of the
government should be used to advantage
one class or disadvantage another. They
are not befogged by delusions as to the
money or coinage functions of a gov
ernment; they take no stock in the doc
trine of fiat; deny that value can be
created by law. or that it can do any
thing else but disturb prices. They be-
lieve that coinage is simply method Of
saving people the trouble in their ex-
changes of determining the value by
weight of each bit of the metals used
as measures OF value and media of ex-
change; that the stamp of the govern
ment is simply certiflcation as to the
weight of metal in the various COINS
given nomenclature merely to faeili-
tate their handling. The relative values
of the metals. their mutual equivalents,
they believe are determined. not by leg
islatlve decree, but by the laws of COM
merce operating freely on them.
Believing thus. this middle class
recognizes that the present value of
silver is made not by natural but by
artificial conditions owing to its re-
strcted use as money metal. They
believe that a restoration of its use
would result in restoration of its
value to such poiut as economic laws
would determine. If this restoration
can be effected so. on the one hand, as
not to give to silver producers tine un-
fair advantage involved in the present
ratio, and, on the other, will permit
free use of the product. they believe
that, under the operation of the supply
and the demand, silver will reach In
time an equilibrium when the right ul
functions of government can be re-
sumed and free coinage permitted under
readjusted ratio. To a Democratic
congress is committed the question of
framing a measure which will mest the
views Of this greater middle class, thus
remedying as far as possible past
wrong, restoring in due time silver to
Its place as money metal; preserving
the traditions of the party and taking
from the blatant demagogue one of his
implements of trade. 1t should ba equal
to the task.
Two PAPERS PROGRESS.
We extend our hearty congratulations
to some of our Eastern contemporaries,
notably the Boston Herald and the New
York Times. for ths DrOrrasS thny ara