Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-15

With the direct force that is one Of his
prominent characteristics President Cleve-
land has once more given expression to his
financial views. The opportunity for which
he has been waiting for some time came to
him with an invitation from many Chicago
citizens to be present at gathering of
those who pledged to the preservation
of a sound national currency. OF course,
the President declined the invitation but
instead of brief, formal declination he
sent the committee letter that will prob
ably cut some figure as a campaign docu-
ment-a strong document, and one that
must appeal to every possessor of common
sense. President Cleveland evidently real
ICES the danger which impendS because Of
carelessness on the part of believers in
solid finance. That is evident when he says:
IF the sound money entiment abroad in
the land is to save US from mischief and
disaster, it must be crystalized and COM
bned and made Immediately active. 1t is
dangerous to overlook the fact that a|vast
number of our people. with scant opportu-
nifty thus far to examine the question in all
its aspects, have, nevertheless been inge-
niously pressed with specioUs suggestions
which, in this time of misfortune and de-
preston. find willing listeners. prepared to
give credence to any scheme which Is
plausibiy presented as remedy for their
unfortunate condition"
Within forty-eight hours the presidential
argument will be vigorously assailed by the
representatives of all manner of financial
vagaries; the authors of monetary doctrines
that would. If practically applied, wreck
this nation as completely as the most
vicious of invading enemies could possibly
do it, but while those who would contro-
vert the Presidents statements may make
unwarranted use of figures and speciously
distort financial logic. they cannot elimi-
nate the sensible conclusions which are pre-
scented In this Chicago letter. How do the
silver extremists propose to overset these
truths:
In these restless days the farmer Is
tempted by the assurance that though our
currency may be debased, redundant and
uncertain, such a situation will improve the
price of his products. Let us remind him
that he must buy well sell; that his
dreams of plenty are shaded by the GER
tainty that If the price of things he has to
sell are nominally enhanced. the cost of
the things he must buy will not remain sta
tionary: that the better prices which cheap
money proclaims are unsubstantial and elu-
slve. and that even if they were real and
palpabe he must necessarily be left far be-
hind in the race for their enjoyment.
1T ought not to be difficult to convince
the wage-earner that If there were benefits
arising from a degenerated currency they
would reach him least of all and last of all.
In an unhealthy stimulation of prices an
increased cost of all the needs of his home
must long be his portion, while he is at the
same time vexed with vanishing visions of
increased wages and an easier lot. The
pages of history and experience are full Of
this lesson"
The President declared In his epistle that
the need Of the hour was plain and simple
presentation of the argument in favor Of
sound money. His letter has in part done
away with that need, for one such argu-
ment Is now before the American people.