Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1895-09-13
Retiring areenbaoks.


Certain Democratic friends, who
are exceedingly anxious to have
their chestnuts pulled out of the fire
by Republican fingers, are now urg-
ing that it is the solemn duty of the
coming Republican Congress to re-
tire the greenbacks in part, or pro-
vide means by which the Secretary
Of the Treasury can practically
make them scarce. It is as well to
remember at the outset that all mon
etary Legislation by the next Con.
gress will depend largely upon the
disposition of few Populists or sill.
yer men, who hold the balance of
power in the Senate. Any measure
which they unitedly oppose is likely
to be beaten, and for the interesting
though not ereditable reason that
Democrats will probably vote unit
edly against any sensible legislation.
primarily because they want to
court favor with Populist voters
and "more money" lunatics, and |
partly because they are just patri-
otto enough to desire the defeat of
any measure favored by Republi-
cans. Unless past experience goes
for nothing, the Democratic minor
ity in the Senate will be found serv-
ing as the tail for the Populist kite
next winter.
There remains the question what
the Republicans may desire and
judge It proper to attempt. None
tary disturbance is not a blessed
thing in itself, and an attempt to
chang the character or volume of
the circulation, no matter how wise
ly, may be extremely improper and
injurious if it is plain that it cannot ,
succeed. The question whether any ;
legislation whatever should be at.
tempted, affecting the kind or :
amount of money in use, will have
to be answered in the light of bust :,
ness conditions existing next winter =
when Congress is in session, and =
cannot be sensibly answered now. :,
because those conditions cannot be
foreseen. In general it may be said
that agreement of a majority in the
Senate upon any proper monetary
legislation, that now seems likely to l.,
be warranted by financial condi- y
lions. cannot be expected with much A
confidence. a
The Tribune does not profess to y,
know what the Republicans NAV .,
think it judicious to attempt in the y
presence of circumstances which a. a.
'annot now be anticipated. But it y;
IAN say with much confidence that a.
he Republicans are not at ali likely " ~
% join with a faction of Democrats uS
n retiring or contracting the legal ~
ender circulation. Ever since Pres ~
dent Cleveland and his political ~
ssoclates were disgracefully beaten 49,
4 the election of 1894 on the tariff ~
ssue it has been obvious that they vi
'ould do their utmost to cater to :. ~.
Western and Southern heresies bv ~;
'yoring State banks and the retir- W. "l
g of National currency. In no ~,
Their way could they hope to avoid 80
he tariff question as the main issue y
the next campaign. For it was -
Id is impossible for Democrats to 81; IN
gree on the silver question, but the e eSr'
lssionate desire for monetary in o Sn
'tion, it was supposed, might be a. A.
'peased by permitting unlimited a =,
sues of State bank notes. In that III
rection, accordingly, whatever is IS i,
i of the Democratic intellectual "
'dership has been persistently s p,i'
boring to influence the public . r. =;
nd. "
This never has been and never 49,
Il be Republican policy. The Ma. ~
nal banking system has given to ~. =.
the country a paper circulation ~. ~
solutely safe and of uniform value - :.
every State, and it is one of the Ia,-,,
latest blessings which the country - -,
es to Republican wisdom that it had :
escaped from degrading bond doe,
to the use of State bank notes. drro
ike in different States, dangerous tbsnt
costly beyond the conception of to cur
se whose experience has begun G. '
hin the last thirty years, causing Milto
mite veXation and annoyance par
llarly to the working people, who
Id not carry about bank detec.
nor refuse the paper offered A
m as wages. In trying to get a DOS
K to that odious system the Dem. said
ATTIC party has made as great cerni
lder as if it should strive to re- and
human slavery. But the no. have
that legal tenders should be re- the G.
OF contracted is at bottom venti
ling but step toward the wild Demo
State bank scheme, and if any State
g is certain about the future, it at is
be considered certain that the be a {
ublican party will not lend its will G.
Itance to any such scheme MACH
York Tribune. news
--e-s-o nOmin