Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-05-08
Such a Result Might Prove a Dis
guised Blessing.
BELIEF OF SOME SOUND MONEY MEN
The Campaign of 1880 Parallels the
Present Situation.
SILVER AND FIAT MONEY


ties beginning to believe that an apparent
triumph for silver in the elections of next
fall might prove to be blessing in dis
guise for the credit of the country. They
are by no means suggesting an abandon
ment of this years campaigns. They real
lie that nothing is ever gained by running
away They will put up the very best
fight possible, and they, hope to win. At
the same time, new light has been turn
ed on the situation which comforts them
with an assurance not heretofore felt.
RecOlIectiOns of 1850.
These men have been rubbing up recol-
lections of some recent campaigns, and 60
ing back no further than 1850, they think
they have found a situation worthy of
study At any rate, 1t shows how quickly
the country responded in that year to the
menace of unsound finance, and how swift
ly popular favor changed from the one
party, that had just won an important
skirmish, to the other that seemingly had
teen dished by the result.
The democracy entered upon the national
campaign with very high hopes General
Hancock seemed likely to prove most at
tractive candidate for the presidency.
There was not a single striking personal
quality that he lacked. He was handsome,
engaging, brave, generous and capable.
As man, soldier, citizen he stood among
the first in the land. He was realistic
type of King Arthur, indeed, and, like
the great myth was weak, If at all, only
on the side of too perfect roundedness
There were those who could have wished
him shining fault or two, simply to give
his character the higher color Of sharp
contrast. But, as he was, his friends ad-
mired him and his opponents feared him,
and along In August the sporting politi-
clans were laying odds on his winning the
race. The republicans were handicapped.
General Garfield was being subjected to
terrific fire, and. kindly and eloquent man
that he was, he was weakening under it.
Some spots had been found on his record
in Congress, and the manner of his NOM
ination had cost him the interest of sew
eral men of prominence in his party. Mr..
Conkling, in particular, had gone home
seriously disgruntled, and there was no
expectation of hearing from him on the
stump in the campaign. Things, all around,
looked black when they didn't look blue
for the republicans.
plagued With n Greenback COnnec-
tiOn.
But 1t SO turned out that the democrats
were plagued with a greenback connec-
ton that controlled them more than was
good for them. 1t was the survivor Of the
soft money craze that had swept over the
south and middle states a few years be-
fore. This craze had been laid the year
previous in Ohio by the election of Charles
Foster for governor over Gen. Tom Ewing
by a large majority. But here it was again,
shaken clear of its cerements, and lively
as ever. Strange enough, too, it was oper-
ating in the far east now, and in the Maine
state election, which took place there in
September, the ticket supported by the
greenbackers and the democrats carried the
day at the polls.
The result startled the whole country.
Capital in every quarter at once took
alarm. In New York democrats as well as
republicans, looked askance at the returns.
What did they mean? Was fiat money to
l.
destroyed? The democrats of the sound
money school were profoundly disturbed.
What was their duty in the premises?
The financial plank in their national plat
form was satisfactory enough, but here
vas state election in which democrats
had assisted in producing result con-
5trued everywhere as fiat money triumph.
Could they afford to go any further in
such direction? AS a matter of cold,
hard. business fact, was it not desirable
that in the existing circumstances the re-
9ubhcans should win in November?
The Change In the Tide.
The republicans Immediately took heart.
A broad streak of good, old-fashioned day
light appeared in the east for them. Drums
began to beat, banners to wave, marching
professions to lengthen In line, and a new
spirit was observable everywhere among
them. The disgruntled leaders were all
aroused. Gen. Grant took the field and
together they set the middle states afire
Mr.. Conkling was in his best oratorical
form, and the largest crowds up to date
gathered to hear him wherever he went
Ihe tide was turned in week. The per-
sonal qualities of the two presidential can
didates were wholly forgotten. 1t counted
for nothing for the democrats that Gen.
Hancock was a superb figure in the coun-
tryS history. 1t counted for nothing
against the republicans that Gen. Garfield,
Whlle member OF the House, had taken
Zee to which some people attached i'm
propriety The only question now left re-
lated to the Frances. To which party could
the credit of the country with the more
safety be left? The democrats were at
least uncertain on the money ISSUE Mr.
Tilden and his friends in New York We're all
right. but how about Mr.. Thurman and his
friends in the middle states and the demo-
Gratis OF the south? The republicans were
money. Their policy could be forecast on
that question. They were against fiat
money in any and every form, and had no
aihSnmerts which, in case of success at
the polls, would afterward embarrass them
IN Office. The country decided in favor of
the republicans, and public credit was not
shaken. The September results in Maine,
many people thought, did the work.
Public Credit Impaired Now.
Here, now, is the comfort referred to
that scme sound money men of today are
taking. They would prefer that not even
serious menace should occur, but one,
they coHcede, may be necessary at this day,
as In 1850, to properly arouse the people
OF the country to their danger. Public
credit is as important now as then. Sill
Ncr, as these men assert, is but another
form of the fiat money craze. The real
OBJECT is to increase the money supply
without regard to preserving the purchas-
Ing power of the circulating medium The
people are having the question presented
to them in this light by the friends of
sound money, but an expression in sew
erai states at the polls in an off year in
favor of free coinage might count for very
mueh more in the long run toward show
Ing what the real danger is. Meditation
On such result, the sound moacy men
believe. would make a profound impression
Oh business interests everywhere, and spur
them up to the greatest activity. VIII
that bit of Maine history be repeated? If
silver wins this year. will that insure n
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