San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1895-02-21

Europe than those OF any other
country. Above all, we are an i'm
portant silver using country; and
the significance Of that factor lies
not wholly, If even principally, in
the question whether this may i'm
pair the value OF our securities
held so largely abroad, but equally
in the fact that, il we come out Of
our silver struggle with a fixed
and permanent commitment to the
GOLD standard, that precedent will
go far towards settling the same
question for all Europe.
1t is easy to perceive how, under
such circumstances, the worlds
leading bankers may see, in the
restoration of our finances and our
salvation from the silver peril,
much more than mere profit on
large negotiation. 1t is easily con-
ceivable how they may regard the
restoration of American finances as
a great step towards the revival Of
confidence and enterprise through
out the world at large,-a fulcrum
for lifting universal confidence to a
higher elevation. Upon this as
sumption, we may regard the pur-
poses of the syndicate as probably
extending much beyond the mere
terms of their contract, as mean
ing, in short, a purpose to stand by
this government until its finances
are placed upon a sure and perma-
nent foundation. Wall street is
scenting this sort of significance in
the bond transaction, and may
soon draw very encouraging con- =,
illusions therefrom, calculated to
develop a much healthier tone i'm
the financial markets. ,
The failure of the House Of Re- |
personalities to adopt the gold |
loan bill is most disgraceful mis-
carriage Of legislation, humiliating |
alike to Congress and the nation. J
AS the question turned upon the ;
bubble as between the terms ain {.
coin" and "in gold coin" and it r
may be just possible that the
House will attempt to redeem it's E,
ulSSltdlU ny SOIllC Oluel lOI III vi
bill, would suggest that Congress ,
pass an Act authorizing the issue !
of 81 200, 100000 bonds, the rate of ;
interest not to exceed per cent,
payable in "coin," the holders of 4.
said bonds to have the option !
when the government makes pay !
ment Of principal or interest, to de-
mand gold or silver coin or legal |
tender notes therefor, $6S5, 100000 :
of said bonds to be held in
reserve to provide for that .
amount of outstanding bonds, the !
holders Of such bonds to have the |
option, at or before their maturity, !
to convert them into the bonds
by this act, bearing q
per cent. interest-the $50O,O0O,OO0
to be issued at the dis
cretion Of the secretary of the !
treasury, with the consent Of the !
president Of the United States, for |
the purposes named in the funding
act OF 1870 and the resumption act |
Of 1873, all other provisions in said |
acts to be repealed on the enact
ment Of this measure.
The first half of President Cleve-
lands administration certainly !
proved very disastrous to the bust I
ness and labor interests Of the !
country, as it was full of object |
lessons Of a drastic character. The |
President has now commenced on
the last half Of his term of office, !
and there are not wanting indica-
lions that his policy will be to re-
store confidence so as to bring !
back return Of prosperity. His a.,
object lessons hereafter will be di- !
reCted to the members Of Congress
and not to their constituents. This !
is one good reason for the belief
that the winter of our distress will |
pass smoothly into a cheerful sum-
mer.