Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1895-10-09
THE SOUND MONEY" CRUSADE.


The special committee appointed by
the New York Chamber of Commerce, of
which Mr.. Gustave Schwab was chair
man. to advocate and promulgate what
is known as sound money'-thaf is, the
sole gold standard-have come to grief.
They have shut up shop and ceased their
manufacture of plate matter and broad
Sides for distribution among the news
papers. 1t is somewhat of a surprise to
learn that last week the committee de-
cided to abandon its agitation. Out of
consideration for Mr.. Schwab it was de-
cided not to disband the committee, but
1t was notified that it need go no fur
Their in its campaign. and that no money
would be placed at its command. The
Chamber of Commerce, in arriving at
this conclusion, have been influenced, no
doubt, by the friends of Mr.. Whitney,
who, when he recently arrived from Eu-
rope, indicated that his observations
abroad had led him to a favorable view
of an enlarged use offsilver, not as a sub
sidiary but as sovereign coin.
No doubt Mr. Whitney now sees that
his first impressions were more correct
than those subsequently attributed to
him. and that it would be WE'LL if a New
York man is to be selected assthe Demo-
cratic nominee, for that State to cement
a cordial alliance with those Southern
and Western States that are necessary
for victory.
Commenting on this remarkable reac-
ton on the part of the New York Cham
Der of Commerce, the New Orleans
Times-Democrat INDUCES in the follow
ing criticism, which may be taken for
what 1t is worth. 1t is we'll to make a
note of the fact that the latest emana-
ton from the administration-the speech
OF Secretary Herbert at Montgomery
indicates that the sole gold standard is
not to be preached hereafter to it's full
extent. Mr.. Herbert is careful to say he
is bimetallist This assertion runs
throughout and punctuates his very able
address. If he meant that he is bimet-
allist simply in the sense of advocating
silver coin as token money subsidiary to
Sold, he would have with equal truth de-
clared himself a trimetallist or quadri-
metallist, favoring the use of silver, nick
ell and copper as token coins, only valua-
bic as redeemable in a sovereign COIN
gold In no sense could he call himself
a bimetallist unless he proposed in some
way not disclosed in his speech to elevate
silver to an equal coin. sovereignty with
gold.
Here is what the Times Democrat SAYS
about this interesting matter:
This decision has given rise to several
explanations. The pretense most gener-
ally made is that the silver movement is
dead and that there is no need of fight
ing shadow. This is, of course absurd
Tor the political movement throughout
the South and West shows the silver
cause to be as strong as ever. Mr.
Schwab. the chairman of the committee
and at least half the members of the
Chamber of Commerce fully agree that
the cause of silver is by no means dead
and that the fight ought to be kept up,
but the other half betray a lukewarm-
ness, and express the opinion that it
would be we'll to let the agitation drop.
This, therefore, can scarcely be taken
as an explanation of the matter.
Two other reasons are given, either
of which may be correct. One is that
the committee has not met with the sue
cess expected, and that it has not been
rewarded with complete success. Docu-
ments are scarcely likely to convert any
one to the cause of monometallism when
stern financial results prove the folly of
that system.
Another explanation is that the inf1u-
ence of Ex-Secretary w. C. Whitney has
been exerted to bottle up this anti-silver
movement. Mr.. Whitney is now under
stood to be candidate for President,
and is afraid that a committee like
Schwab's may injure his political chances
in the silver States.
But it is perhaps useless to discuss the
reasons The important fact which con-
Germs us is that the attempt to change
the political sentiment of the South and
West by free supplements. broadSideS
and plate matter from Wall street has
been abandoned as Improbable.