New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-22
UU3T is SOrND MONEY!

If the President and his Cabinet will indeed
lift up their voices for sound money. and set
themselves Ia resist the powerful tendency with
in the Democratic party toward financial h"rc-
sizes they will render an important public service
But il is best that. before they begin the work
Of public education. they should try To arrive
at some definite agreement as 10 the kind Of
money they advocate. Silver coinage is only one,
and perhaps not the most dangerous Of the pro
p1slls they have 10 combat. The silver miners
command much money for the circulation Of mis-
leading pamphlets. and control some votes. but
they fail to clpIvltc the farmers who want
money loaned on their land or their crops either
by the Government directly or by local banks
under the exclusive supervision and control Of
politicians in the Southern and Western States
The silver agtatorS fail 10 show the farmer how
he will personally get any more money. with I'M
limited coinage of silver, than h. gets now.
1t does little good 10 repeat day after day.
the phrases sound money" safe financial ddc-
trinc" and the like if nobody knows whether
the men who use them are still in favor Of wild
cat State banks or III" PopuliSt PLATFORM MI.
Gresham appeared from his uteranccS before
the last Presidential election to have accepted
the PopuSt theory in the main. Mr.. Carlisle
and President Cleveland himself made DIES
perate effort 10 get unlimited State bank issues
permitted during the last session of Congress.
Secretary Carlisle also tried hard 10 secure power
To suppress legal-icndcr notes Of the smaller
denominations, in order 10 force a larger number
of silver certificates into the pockets Of The wage
earncrs These are not steps toward sound
money. If the President and The members 81
his Cabinet have not radically changed their
opinions. they are quit" unprcpIrcd 70 t"ach safe
financial doctrines No doubt the President
thinks that any thing he advocates must b" safe,
but the rest of the world had a different idea
when business fingered for months in the aconirS
Of uncertainty because lie and his Secretary were
trying 10 carry out their peculiar notions about
money.
1t would be well for the Administration To con
suit with itself. ana find out what il means by
sound money. If il means silver certificates for
wageearnerS. and gold certificates for bankers,
the less il tries 10 educate the people in mat
direction the better If it means banknotcS l.
sued without limit and without security say"
such as Southern and Western State Treasures
may think sufficient, the less sound money Of
that sort We hay" the better. Silver coin has a.
all events some value. while Il vast deal Of pain
full experience with Democratic banks forty years
ago taught pcop" that such paper ~ hey is
sued might have no value whatever. TIL" vol
umc Of a paper currency issued by that process
can only be guessed from the temper Of Stat"
officials who have been demanding note issues
by the Government al the rate Of so per capita,
with loans OH crops or land 10 place The notes in
the hands Of The people. This would seem "mi-
ncnlly sound money 10 the Democratic official,
aforesaid. but does il 10 the Pre- idcnit or has
he changed his mind since last January
The country cannot afford free cuin1g" 81 silver,
but neither can il afford another d"ugr Of paper
currency. |, cannot afford 10 have anyb ydy sci
ting himself up aS Il public teacher. aud Sis
tanned by the plaudijS Of practical business men.
who does not know ana steadily recognize The
mcasurccS' peril Of paper imitation. When
President Cleveland started his cru>ad" against
grccnbacks. in order 10 captiyatc soft money
Democrats and POpulisls he raised doubts in re-
gard 10 his own SoundncSS which all his vague
phrases have 10y no means tended 10 remove.
If he knows what he means 10y sound money"
it is high time for him 10 Let the world know.
before attempting any further 10 lead public
opinion on the money question.