The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-01-29
FIVE HUNDRED MILLIONS.

Yesterday the president sent his
financial message to congress. Ii we
accept the fact that the United States
is really and truly gold standard ma
ton, the message is all that could be
desired under the circumstances; but
we do not, and we fear that largely over
one-half of the nation, numerically
speaking, will take the same view OF
the matter which we do. If we are
really and truly gold standard country.
then the policy of issuing five hundred
millions of gold bonds is far better and
more dignifed in every way than the
issue of fifty millions every two or
three months. The views of men on
this message will be formed either as
free coinage double standard men, or
out and out gold standard men, and
will differ as widely as the two
policies indicate. The whole trouble is
unquestionably found in the fact that
we are now called upon to pay in gold
obligations which were contracted in
both gold and silver. This much we
owe to the republican party and John
Sherman, and the chains were forged
and applied to our financial system
away back there In 1873. To do Mr..
CleYeland simple justice, he is not at
all responsible for the evils which now
stare us in the face. 1t was none OF
his policy. All that he can be charged
with, justly, is the fact that he, in not
promptly reversing the policy of '73
when first assuming the presidential
functions in '85, became particeps
crlminis with Sherman and the repub-
lican party in fastening the damnable
gold standard policy upon the country.
The other thing upon which he ID
blamable is this connection is, the con-
tinuance of the makeshift policy which
distinguished the republican policy
from '73 down to 'S5.
theory, to quote his own words, and
are left, therefore, no choice. The
pressing nature of the emergency is
such that we dare not now stop to COM
mence a new experiment with remone-
tization. We are simply compelled,
from the presidents showing, to go on
with the gold policy until easier and
more restful times present the
opportunity to return to the double
standard. For these reasons we ale
compelled to applaud the more manly
policy of issuing five hundred millions
of bonds rather than to persist in the
petty fifty millions issues.
The president AYERS that he is not un-
friendly to silver. This is an apollo
getic wall which is pitifully weak.
1t comes from one who could have re-
stored silver by single stroke of his
pen in 'S5 and without any danger OF
financial distress or panic. Not un-
friendly to silverl Indeed when his
every official act has been to discredit
as money, and in addition, has gone tc
encourage the domination of the gold
policy in our business and in all insn-
cial transactions either of the goY-
eminent or American individua
merchants trading with Europe,
Twenty millions added an1ally to
our interest account may seem {
mere bagatelle to the president,
but to the average American citizen il
seems enormous. This could have
been saved by remonetizing silver in
'S5, as we have said. So could it have
been saved at any time since 'S5 until
the present. We readily accept the
conclusion that now it is impossible,
at least for the present, or until We
have had two or three years of active
preparation.
Indeed does this once proud nation
exhibit most pitiful condition today,
lying as she does, bound hand and foot,
helpless at the feet of the gold mono
metalists of Europe instead of giving
the financial law to the world, as
might have been had she stood firm
for the double or gold and silver stand
ard of the ages. We quite agree with
Mr.. Cleveland that now it is too late,
but with him we cannot and will not
share the awful responsibility. If we
Can escape revolution and hold the
country together for few years, or
until the silver-using east can come to
our help, we may escape the worst con-
sequences of this most disastrous sit
uation. To enable us to do this we
favor the Issue of $500. 100000 more
bonds. 1t is the only pathway out of
the dilemma.
We will note curiously the action
taken by congress and the expression
of the sentiments of the people in this
curious and dreadful contingency.
------
THE income tax will not hit the
country papers in Utah very hard
licK, so we can support the income tax