The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-05-27
IMPORTANCE OF THE MONEY CUES
TION.

IMPORTANCE OF THE MONEY CUES
TI0N.
The Journal observes In some Repub-
lican quarters disposition to urge that.
inasmuch as protection Is to be the DOM
inant and overshadowing issue in the
coming presidential campaign, it is not
wise on the part of Republicans to give
so much prominence to the money ques-
ton. Those who make this suggestion
are careful to say they are themselves
In favor Of sound money, but they add
that the party is not as united on that
question as 1t is on the tariff question,
and they do not think 1t good politics to
keep the money question to the front
when nothing in the world can prevent
the fight from being made On tariff lines.
This suggestion seems &c carry with 1t
an implied one that the money question
and the alleged free-silver sentiment in
the Republican party placated by reso-
luton which, while declaring for sound
money, should not be actually unfriendly
to silver. In short, the suggestion evil
IDENTIFY implies a straddle on the silver
question.
Let US consider this matter little. Is
it true that protection is to be the DOM
inant issue in the next campaign to the
extent Of overshadowing the money ques-
ton? The Journal thinks not. Four years
ago this was distinctly the case. At
that time the danger point in American
politics was the repeal OF protection.
The Republican national convention of
1892 met on June z and the Democratic
convention on June II. The Republicans,
clearly understanding and foreseeing the
line Of battle which the Democrats were
going to select. threw down the challenge
by reaffirming the doctrine of protection
and pointing to the success of the Repcb-
lican policy Of reciprocity The Demo-
cratic convention accepted the gage of
battle thus thrown down by denouncing
protection as fraud and robbery, the Nc
kinley tariff law as 1.-The eliminating
atrocity Of class legislation" reciprocity
as sham. and promising the repeal of
all these laws. Thus issue was Joined
on the tariff question. The money plank
or the Republican platform in 1892 was
moderately good for that time, but now
1t would be called a straddle The money
resolution in the Democratic platform
was fully as good as the Republican,
and, If any difference. rather the better
sound-money declaration of the two. The
question of free silver coinage. in it's
present form, viz, form that threatens
to drive gold out of circulation and place
the country on single silver basis. had
not yet assumed alarming proportions.
and. in so far as the question had devel-
oped, advanced advocates of sound
money had not much to choose between
the two parties In short. the issue on
the tarin question was distinctly made
and sharply Joined. while no issue at all
was made on the money question.
Now the situation is entirely different,
and the change is due as much to events
and circumstances as to parties and
party leaders. No question has ever
come to the front in this country as rap
idly and irresistibly in the same length
of time as has the money question dur
ing the last four years. The tariff oues-
ton has not lost anything in Importance.
but the money question has gained i'm
measureably. This is SO far true that it
is no exaggeration to say that the money
question occupies fully as prominent and
important position in the public mind
as does the tariff question. In one sense
1t Is more important, because, while the
position of the Republican party on the
tariff question is known and understood
beyond any possibility of doubt, it's posi-
ton on free silver remains to be declared.
Everybody knows that If a Republican
President and Congress is elected pro-
lection and reciprocity will be restored.
but everybody does not know what the
policy Of Republican administration
would be on the money question. Events
foreshadow very clearly the action of
the Democratic convention. 1t will be
controlled by the free-silver element of
the party and will declare for free silver
coinage on the ratio of 16 to 1. That
will drive hundreds Of thousands of
sound-money Democrats out OF the party
and cost it the entire independent vote
of the country. For the Republican con-
vention to fail to take advantage of this
situation would be stupendous blunder
from a political point Of view and great
wrong from a patriotic standpoint. The
ST. Louis convention should make dec
laration on the money question strong.
unequivocal and without remote sug-
gestion Of straddling 1t. 1t should re-
affirm the traditional principles and pol
icy Of the Republican party on the tariff
question. but it should show that it re-
CARDS the money question as of fully
equal Importance. Even now nothing
dominates or overshadows the money
question, and it is growing in Importance
every day.
THE OTHER SIDE OF THE WATER