New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-10
Colgate 6 Co.'S
.IOLETWATER

panies in National. State and private banks 10
holders of fire and accident insurance poiicies'
to holders of industrial insurance. where 'ne
money deposited or the premiums nave peeh pai"
In gold or its equivalent, are SO eh"iHouS' ~
eether with the sums due, and to become due,
for State municipal. county or other corpora.e
debts. that II paid In deprecated s,'Ver vi ns
equivalent it would not only entail upon our
fellow -countrym men a loss IN money Wnlch mas
not been equalled in a similar experience since
the world began, but 1t would. at the same tline'
bring a disgrace TO our country such as n'9
never befallen any other nation which had the
ability to pay its honest debts. In our condl-
ton and considering our magnificent capacity
for raising revenue. such wholesale reputation
is without necessity or excuse: NO poitcal eN-
pedlency party exigency however pressihs
could justify so monstrous an act. 49,.
All these deposits and debts must, undeT 'hr
platform of the Republican party, he mel ana
adjusted in the best currency the world knows
and measured by the same standard In which
the debts have been contracted or the deposits
or payments have been made ,,,
Still dealing sparngly with figures OF Which
there il an enormous mass to sustain tne posi-
ton Of the advocates OF the gold STANDARD OF
value I cite one more fact which Is ofnclally
established promised by the trusm that 'heie
is no better test of the growth or country
prosperity than its increase in the per capita
holdings of its population. In the decaus pc
tween 1850 and 1890 during when we nau our
existing gold standard and were under tne con
ditions that supervened from the act OF 1870 'he
per canita ownings Of this country increased
from $50 10 Sl,O3G. In those ten years the
aggregate increase of the wealth or our county
was S21 800. 900 900. being 30 per cent IN excess
Of the increase for any previous ten Years Sly, SLY
1880 and at the amazing rate OF over H-'Voo'Vo,-
600 year. The trainers OF the chicago pat
form in the face Of this fact. and or the ehoi
mons increase over Great Britain. during TINS
same gold standard decade, OF our country >
foreign trade and its production Of IRON coal ana
other great symbols Of National strength anu
progress. assert that our monetary STANDARD Is
mot only un-American but anti-American' anu
that il has brought us into financial servl'uue
to London" 1t is impossible to imagine an d.
sertiOn more reckless and indefenslpie.
THE ONLY LOGICAL CONCLUSION.
The proposition for free and unlimited silver
coinage carried to its logical conclusion-ahd
but one is possibe-means, as before intinateo
legislative warrant for the reputation OF all ex-
listing Indebtedness public and private to the
extent Of nearly 30 per cent of the face OF all
such Indebtedness 1t demands an unliihlle1
volume of fiat currency. Irrcdeemapie anu anu
therefore without any standard value In the
markets of the world Every consideration OF
public interest ard public honor demands that
this proposition should be rejected by the
American people.
This country cannot afford to give its sane
ton to wholesale spoliation. 1t must hold last
to its integrity. 1t must still encourage thriit
in all proper ways 1t must not only cuucdt"
its children TO honor and respect the Flag put
it should inculcate fidelity to the obligatlons OF
personal and national honor as well. Both
these great principles should hereafter be
taught in the common schools Of the land. ana
the lesson impressed upon those who are the
voters of to-day and those who are to become
the inheritors of sovereign power in the Repub-
lie that IL is neither wise. patriotic. nor SAFE 70
make political platforms the mediums of assault
upon property the peace Of society and upon
civilization itself.
PUTTING A PREMIUM ON DISHONESTY.
Until these lessons have been learned by our
children, and by those who have reached the
voting age it only be surmised what en-
lghtened statesmen and political economists
will record, as TO the action of party conven-
ton which offers an inducement to National dis
honesty by premium Of AZ cents for every 80
cents worth Of silver that can be extracted
from the bowels of the whole earth, with
cordial invitation to all to produce it at our
minis and accept for it a full silver egal-tender
dollar Of one hundred cents rated value, to be
coined free OF charge and unlimited in quantity
for private account.
Blu, vastly more than a mere assertion of
purpose to reconstruct the National currency is
suggested by the Chicago platform. IL assumes.
in fact, the form of revolutionary propaganda.
1t embodies menace of National disintegra-
ton and destruction. This spirit manifested it.
self in a deliberate proposition to repudiate the
plishted public faith. to impair the sanctity of
the obligation of private contracts. to cripple
the credit Of the Nation by stripping the Gov
eminent Of the power 20 borrow money the
urgent exigencies of the Treasury may require.
and in a word TO overthrow all the foundations
of financial and industrial stability.
Nor il this all Not content with propo-
siton to thus debauch the currency and to un-
settle all conditions Of trade and commerce,
the party responsible for this platform denies
the competency OF the Government to protect
the ives and property of its citizens against
internal disorder and violence.
THE ASSAULT ON THE SUPREME COURT
1t assails the judicial munimonts reared by
the Constitution for the defence of individual
rights and the public welfare, and it even
threatens to destroy the integrity and independ
ence Of the Supreme Court which has been con
sidered the last refuge Of the citizen against
every form OF outrage and injustice
In the face of the serious peril which these
propositions embody, it would seem that there
coul1 be but one sentiment among ris hit think
ing citizens to the duty % the hour. All
men OF whatever party who believe in law,
and have some regard for the sacredness OF in
dividual and institutional rights. must unite
In defence of the endangered interests of the
Nation;
While the financial issue which has been thus
considered. and which has come. as the result
Of the agitation of recent years. to occupy a
peculiar conspicuousa-ss. Is admittedly OF pri-
mary importance. there is another question
which must command ca; eful and serious at
tentlon. our financial and business condition
is at this moment one OF almost unprecedented
depression. Our great industrial system is
seriously paralyzed Production In many I'M
portant branches of manufacture has altogether
ceased Capital is without remunerative en-
ployment Labor is idle. The revenues Of the
Government are insufficient to meet its ordinary
and necessary expenses. These conditions are
not the result of accident. They the out
come OF a mistaken economic policy deliber-
ately enacted and applied 1t would not be
difficult. and would not involve any violent
disturbance of our existing commercial system,
to enact necessary tariff notifications along
the lines Of experience.
TARIFF POLICIES CONTRASTED
For the first two fiscal years of the so-called
Mckinley Tariff the receipts from customs
were $3.50 500 $50. Al this writing the Wilson
Tariff act has been in force for nearly two full
fiscal years but the total receipts. actual and
estimated, cannot exceed $3l2,iil941. a steady