The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-06-06
R ]. BYRNEs,
senator DAILY on silver.

Senator Daily has given out to the press
a queer kind of interview upon the cur
rency question, in which he declares that
he stands upon the gold platform adopted
by the Democratic State Convention at
Trenton, but at the same time shows that
he is to a large extent a convert to sill
yer. The loyalty of the Senator to the
platform is to be commended, just as
much as his new personal leanings are to
be deplored.
We do not know just what can have
influenced the Senator's mind. The hyp-
motto influence of mob impulse may ac-
count for it. 1t can hardly be that his
strong intellect has been imposed Upon
by any of the gaudy ~catchwords of the
silver party, though, we are sorry to see.
he quotes some of these with a certain
gusto which shows how strongly his mind
has been affected, at least for the time
being.
One of the most characteristic passages
in Senator Days interview is the fol-
hwing:-
The cry in the West and South is that
there - = w sn0ug NJ legislation Is ITO . for the inter.
some now for the suffering people," The
money centres IN the West cal in wheat
and crops, while the money centres in the
East deal in gambling and stocks. The
money market is made here, not in the
West. People in the West have no faith
could say much in support of this state
ment, but time will not permit.
In this is the essence of the silver
sentiment" as it is called. 1t is an in
sensate hatred of Wall street, of New
York, of capital, of wealth. 1t is social
ism. it is anarchy. 1t is the grinding of
vague discomfort, exaggerated and con-
centrated by designing leadership against
the structure of society and results of
civilization.
Does it not occur to Senator Daily that
no legislation can be for the interests of
Wal street which is not for the interests
of the rest of the country. Wall street
cannot grow rich on the general poverty.
1t is the teeming wealth of the West that
floods Wa street with gold, and in this
very question of silver or gold, it is the
welfare of the West, above all things, that
Wall street is eager for.
Next comes that absurd statement about
the West dealing in wheat and crops
while the East deals in gambling and
stocks. Was there ever such nonsense?
How could the West deal in wheat or
o,>onc ~ ~ H. ~.x 49,. ~ -. 81,
Who buys the wheat? Wink the crops?
Does the West want Wall street to pay
It for its wheat and crops in ffty-cent
dollars? No doubt Wall street would be
glad to do SO. And talk of gambling! How
would gambling be reduced by adding fuc-
tuations of money ITO the fluctuations of
price? Does not the Senator see that every
transaction would have a new gambling
element in it, viz, the uncertainty of the
value of the silver dollar on settling day?
1.-THE money market is made here, not
in the West" More jargon! It is made
here. there and everywhere under healthy
conditions. It will be made here more
than ever when silver is king, or per-
dhaps in London, where the market price
of silver is determined from day to day
by one or two firms.
People In the West have no faith in
the financial centres of the East" Have
they not? And why2 Is it because the
East has ever defaulted in giving them
their due? NO, it is because they have
developed their country with borrowed
Eastern money and now a lot Of anar-
chists like Altgeld are trying to persuade
them chat they are not morally bound to
repay the loans.
= could say much to support this state-
ment but time win not permit" Really,
what a pttys we should have 50 liked 10
have heard what the Senator could say