New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-20
SENATOR VEST MENTIONS CAUSES.

| Y
Sometimes terror TO lis foes but always 10
his friends. Senator Vest never speaks WITHOUT
saving something and this time has made more
than one disclosure. Talking OF the causes Oh
! Democratic defeat, he says that the lr'S"en'
"rcfused positively TO use the power gwen niln
"bv law to rebnke the gold spectators ana pre-"
eject the gold reserve by rendering silver even
| "as part Day ment when cr"enoackS anu Hh'i
man notes were presented at the treasury ioI
redemption. / believe that Carlisle III one
"time contemplated such action. but the lr'S'-
"lent who Just before his inauguration talhcd
"reasonablv and cOnservGively. suddenly ID"
"came obdurate and ordered the payment OF
"eold exclusively This Is a neat way OF say
Ing that the President and Secretary CarIlsie
both falsifed when they declared that at no time
had they contemplated such step. 1t IS never
thcless the fact that the evidence or concurrent
events strongly supports Mr. Vest Inc s'a''
mont Of Secretary Carlisle. which was given out
on Thursday evening. April 90, 1893, was under
stood by everybody to indicate that stoppage or
/ GOLD navmcnt on the new Treasury notes might
| ot any time be found necessary, and ordered, on
the ground that when no gold remained III me
Treasury In excess Of the 500. O00. 900 held as
fund for the protection of legal tenders. il might
| no decided that II no longer had any gold law
fully available" for the redemption % other
notes This statement by the Secretary. accord
ing to the dispatches in Democratic newspapers
was carefully revised by the President the night
II WAS issued and much said Of .he changes
made by ''the Presidents blue pencil. Bri the
panic Immediately produced in the stock mar
ket was 80 sharp that on the following Sunday
night the President thought II necessary 10 de-
clare personally that the redemption Of any kind
Of Treasury notes except in gold had never been
contemplated.
II was believed then by many. and Is appar
emily believed now by Senator Vest, that the in
tention of the President and Secretary dis
tinctly foreshadowed in Mr.. Carlisles letter on
Thursday. and that the influence Of the Pres
dents banking and stocll-broking friends caused
the sudden reversal Of Sunday night. Mr. Car
Isles statement precipitated the panic. which
rapldly widened into the disasters Of July and
August, but Senator Vest curiously attributes
the overthrow of the Democratic party to the
Presidents contradiction and reversal, and
imagjncs that all mischief might have been
avcrted If the Administration had adhered TO
the plan indicated by Mr. Carlisle Obviously
the Senator ignores the fact that mills were
closing and multltudes Of workers were losing
their means of livelihood because men began
TO prepare all over the country for the radical
change Of tariff which the Democratic party had
publicly declared it would make. That threat
ened change brought about the arrest OF indus
tries and trade and the general apprehension
which made panic possible.
In dealing with the German tariff act Senator
Vest reminds the country Of most important
fact which TO Democrats just now Is not very
welcome. He says: But for the assurance OF
'ihe President and Mr.. Carlisle to Senators Ilar
iris and Jones that some bill must be passed
"Mr. Cleveland never would have had the OPP
''portunity OF branding the act rs treachery 10
| 'the party" 1t IL true beyond question that the
passionate anxiety Of the President to have
some sort OF bill passed. almost anything which
could be considered n vindication Of his cam
paign against duties on wool and woollens, coal
and iron ore did in truth turn the scale Differ
enccs between Senators from manufacturing
States and Representatives. from the West and
South were SO wide and deep that either would