New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-31
THE GREENB1CKS.

1bo GOLD reserve has gone down below S4S,-
600 600 while the President and his 1rlehus
still prattle about the suffciency OF revenue ana
insult the common-sense OF the country by as
serting that the deficiency in no way causes inc
prevailing dlstrust. short act to increase the
revenue would do more TO restore confluence
than all the borrowing bills the vii OF man can
devise For party reasons solely, the PRESIDENT
and Congress refuse 10 consider any such meas
IRE. LET ruin come they say, rather IMAM
confess that we have Numbered For such
craftsmanship the people have Il contempt WHICH
even their crushing majOritles In November Out
family expressed. Yet with really amazing
faulty the President and his friends have start
ed a crusade against the greenbacks. lns'end
OF an increase Of revenue, instead or temporary
loan for current needs until the Congress JUST
elected by the people can take charge. fhese dis
yraced and discarded rulers attempt ranlcai
| reconstruction Of the whole monetary system
and so block the way with their successive pro-
posals that no measure Of practical RELIEF can
get a hearing.
These proposals involve an insolent usurpa-
ton of power. Public safety depends upon con-
ddence in the Government Hence IT Is crime
against the public welfare to attempt radical
and dangerous monetary changes, when absolute
want OF confidence has been emphatcaliy de-
| clarcd by the people. There Is not less inde-
ccncy and not less wantOn risk TO the puDiic
welfare I'm attempting a revolutionary change
against which the people once deliberately de-
cided which they have never since asked, which
no party has ever proposed, and which no party
| would have dared TO propose in any election for
the last seventeen years. The retirement OF the
creenbacks was stopped by law in obedience to
an overwhelming popular demand. Theorists
said specie resumption could not be secured
without It. but the people knew better. They
knew that with adequate reserve and proper
rovepuc n limited volume Of legal-tender notes
woud circulate freely without any demand for
,bcjr redemption, because the people preferred
,hon IA any other kind Of money. Experience
nroved that they were right. From the day Of
r.sumution until the advent Of Democracy TO
mower IN 1893. over fourteen years, the legal
tenders were practically never offered for re-
dcmption
During all this time no party has dared to
| propose their retirement The partisans and
bankers who now demand 1t know perfectly
| well that Il would have been voted down at any
election, and 1t is astonishing audacity for the
President and Democratic leaders to undertake
| In the last hours Of dying and dIsgraced Con-
gress revolutionary step known to be hostile
to the wishes Of the people. 1t is not Il matter
Of sentiment with the Millions, They have
enough practical sense to know that loan Of
$0OoOO0OO0 at per cent for fifty years would
compel them 10 pay $780, 100000 in order to
retire the very kind Of money which they like
better than all others. which cannot be with
drawn from them by commissions In foreign
money markets. and which. when protected By