Omaha daily bee., 1894-04-03
TALrE OF TIE KE1n

The significance and value of the veto Of
the seigniorage bill may not become apparent
at once, but time will certainly demonstrate
the wisdom Of the presidents action in a
way not to be mistaken. The confidence that
was felt in the president by the friends of
sound money averted any serious financial
disturbance following the passage of the bill
through congress-, and this confidence being
shared abroad there was nothing from that
direction to interfere with the even course
Of financial affairs in this country. Had 1t
been otherwise-had there been u general
apprehension in financial circles here and in
Europe that Mr.. Cleveland would approve
the measure-it is not to be doubted that
there would have been experienced a sharp
intensifcation of distrust, the effect of which
would have been to increase business de-
preston and to put off indefinitely the return
of confidence and prosperity.
This danger having been averted the ef-
feet must be to strengthen financial conf
dence, and with the growth of that will
come recovery from business depression.
There is no substantial reason for any fur
Their doubt regarding the soundness and sta
1900 ~ 'N' 49, w ~
Of silver to it are concerned, during the
term of the present administration, and it
is entirely safe to predict that the succeed
ing administration will not be less opposed
to a larger infusion of silver into the cur
rency. Mr.. Cleveland has said as plainly
as possible that he will not approve any
measure for increasing the volume of coined
silver. unless it be accompanied by adequate
provision for maintaining a safe gold re-
serve, and this condition the silver men
will not accept. They are not concerned
about gold, but desire, rather, that silver
shall be allowed to take care of itself, indie
enough to keep the president and the silver
men apart and thus insure the defeat of
any legislation which the latter may pro-
pose looking to a larger infusion of silver
into the currency. That they will attempt
such legislation is we'll assured, but the
country may now rest secure in the convic-
ton that 1t will be futile. There is every
reason to believe, then, that there is no
danger to be apprehended from the agitation
in behalf of silver for at least three years,
or during the remainder of the term of
N'S hSSNH aNi'b oia = ifhSiy
for a much longer period. since in the prob
able event of the election of a republican
president in 1896 silver would have no bet
ter chance of larger recognition than at
present, except as the result of International
agreement.
Being convinced that the stability Of
the currency is not to be disturbed, it would
seem that capital must soon shake off the
timidity that has controlled it for a year
past and seek avenues Of investment, in
stead of continuing in improbable idleness.
To be sure the proposed changes in the
tariff and the uncertainty as to their ulti-
mate effects naturally check invest
ments in enterprises affected by the tariff,
but there are certainly other directions in
which profitable investment may be found.
This country has not yet reached the limit
Of its capabilities, and. although its progress
has been checked, the possibilities of the
future are unreasonable.