Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-31
Hold IN the Hands of the President.

II ever there was "A complicated cOndi-
tion Of things in the financial world. such
a condition now obtains in Washington:
and We may still persist in saying. as
we have said frequently during the last
month or two that our congressman are
sat sea" II would be wrong TO charge
them with desiring to forward party
schemes at the expense OF the welfare OF
the country. We do not for a moment
believe that such is the case with many
of them. The worst that we can say of
these would-be financial experts is that
they DO not go ahead because they do
pot know certainly in what direction
DUTY would lead them.
The Democrats feel that the responsi-
bility is on them Of securing a happy issue
out OF our present troubles, and so they
are more restless and undecided than the
Republicans. who can experiment in two
directions without much danger 10 their
party organization or 10 their schemes
for 1886 First. they can shift the respOn-
sibility from their shoulders by sending
20 the President bill of relief which.
whether IL shall be a successful Crap
ping with the trouble now holding the
country in its hands or not will not be
distlnctvely a Republican measure, seeing
that IL such measure is to be passed
Il must be passed by a conjoned vote of
Iyemocrats and Republicans. Secondly.
they can decline to relieve the President
and his party from the dilemma in which
they now find themselves.
Here let us remind the reader that the
Congress Of the Confederate States once
found Itself compelled TO resort TO COM
pulsory funding of one third Of the food
OF treasury notes which IL had put into
circulation. 1t was expected that this
funding would enhance the value of treas
ury notes and reduce the prices OF COM
rnodities OF all sorts. But not so. The
operation OF the new law was in exactly
the opposite direction. The treasury
notes lost forthwith one third OF their
purchasing power. and the prices of COM
modities were proportionately increased.
The Confederate Government, however.
had 80 little credit that the results OF its
financial experiments were not surprising.
We do not fear any such disaster TO the
credit of the United States. The worst
that can possibly happen TO us is
sudden dropping down 10 silver basis
for our moneyed and business interests
OF all descriptions. This is the ghost
that every public servant thinks he sees
stalking behind everybody elses financial
projects except his own. This is what
induced Senator Henderson, OF Nebraska.
TO offer a Republican compromise meas
ure. And every day that passes over our
heads leaves Us in a worse condition
than we were In the previous day.
1t is not extrayagant to say that II the
free coinage Of silver had been resorted
10 when the Bland silver bill was passed
all OF our difficulties would have been dis
persed long ago. by discussion and specu-
.atson and tifnidity We have year by
year not TO ray day by day. increased
the perlls OF our situation until now we
seem 10 be shu, UP to the necessity OF
accepting some such scheme as that
proposed by the President Everybody
IS aow afraid OF silver standard and
for this reason. II for no other, a silver
standard cannot now be considered even
toierable scheme There are men in Con-
gress. to be sure. who are not afraid to
resort to free coinage. but there are not
many OF them. we suspect. The men OF
large incomes are not on their side. The
bankers. capitalists and experts OF all
sorts are afraid 10 take such a risk. We
do not censure them. As the world goes.
they are justinsble. They fear collapse
and II collapse takes place they VIII
inevitably be among the victims The
crisis Is upon US. Let US hold up the
hands Of the President.