The Wichita daily eagle., 1896-06-11
M'KINLEY'S CANDIDATURE.

II in the end Mr. Mckinley is elected
president, is the market right in assuming
that his election viii be injurious to the
business interests of the United States,
and consequently to the market for Amer
tcan securities? Undoubtedly it is, though
I'VE venture 10 think that ii is taking too
narrow and too one-sided view of the
situation. Mr.. Mckinley is an extreme
protectionist; his name Is associated with
a tariff which was almost prohibitive, and
he and his friends are now endeavoring
to thrust the currency question aside and
to push the tariff question into the fore
front Therefore it may be taken for
granted that If Mr.. Mckinley becomes
president he VIII attempt another change
in the tariff. OF course, though he may
be elected, It does not follow that congress
would also be protectionist; but whether
congress is protectionist or not. ii seems
reasonably certain that an attempt Will
be made to impose higher duties. Whether
the attempt succeeds or not, it will be in
furious to business
But there is a much more serious mat
ter. Mr.. Mckinley is believed TO be
silverite; at all events. he voted for the
Bland act and the Sherman act, and he
IS now careful not to disclose his real sent
iments; from which We seem 10 be justified
in concluding that he has not very ma
terially changed his mind. or at all events,
that his opinions are so loosely held that
he is waiting upon the public voice. and
IS ready to sign any declaration which
viii secure him the nomination for the
presidency. 1t Is asserted that, whatever
may be Mr.. AIcKnley's own opinions re-
specting the currency, the Republican con-
vention will nominate no man who is not
ready TO pledge himself to maintain sound
money. That Is a mere prediction, and
may or may not be verified by the result;
but, even II IL IS verified, what weight at
taches 10 the pledge of public man who
refuses 10 disclose his opinion on the most
important political and business question
Of the day until he is forced by his own
supporters? Even II he comes TO see that
the true interests OF the country demand
the maintenace OF a sound currency, Is
public man likely to imperil his influence
with his party over a matter which he
treats now so lightly? Suppose that by
a combination OF the silver men of both
parties a free-coinsge act were passed
while Bir. Mckinley was IN ofiice, Is II
likely that he would offend his party by
vetoing the measure. as President Cleve-
land would most certainly do, for the sake
of fulfilling the pledges OF the United
States government? That government IS
pledged as deeply as any government can
be 20 pay in gold Congress has refused
the legislation which would enable the
pledge TO be fulfilled easily. yet Nj Cleve-
land has borrowed again and again so as
not 20 break faith with the creditors OF the
country Can Mr. Mckinley be depended
upon 10 co the same? We do not think
that borrowing is either wise or states
rnAnifke course Some day or other there
must come an end TO Il. But We are put
ting the question now. not because We
think the borrowing ought 20 be continued.
but because We wish 10 put clearly before
the rainds OF our readers what poSslblli-
ties igrk in the election OF Gr- Mckinley
Il is OF course possible that II the Re
publicsns win, they may legislate wisely
regarding the currency, and that then
very little borrowing may become nsces-
sary. or. a. au events. that the borrow
ing may BE- directed and controlled b. the
public voice. as represented N congress
But suppose that legislation does not take
place that gold shipments 20 On on
Erea- scale. ard that the ability of the
goysraEnnt 10 pay n gold depends upon
its borrowing largely and quickly. can
Mr Mckinley be counted upon 70 borrow
with prorapitu5e. and II he cannot what
viii BE the consequences? SGD7ose con-
gress does no. leg slate wisely, aE1 ss,r'-
pose that Mr. McE.riey refases 70 borrow.
then the treasury VIII - cral1ee of goi1.
an5 there vii be 10 option SS; 10 pay =
Ssfver In Other words. silver zll b.
cone The real standard % EalEs n TIE
Ua.,sd States,
Our readers vii remember ho~ r. ssS-
are has prevented the tegssistfoz ~,tea
Pr-xs3ent Cleveland demanded. bow =
fzcc, II has ben the real cause 81 al the
currency troubles o< Tire last cou7le o.
y-srS VII The coming elections mater
isiiy after The b4la1c= % parties = tae
sszate- II tk<z 60 rot. 4 matters very
Little what 3Ir. NeKiniey,s e1lniS1s rel