New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-25
COMMON SENSE NEEDED.
sur REAL CAUSE OF THE HARD TIMES
AND THE RATIONAL REMEDY.
49, LACK OF MONEY IN THE CcuNTRY-oNLY
,,rs OF CONFIDENCE AND FEAR OF CTR
RrNcY DERAsEMENr PREVENT
BUSINESS REVIVAL

-. Editor of The Tribune.
90 =" :, r,,,st be conceded that the great majority
noonle are sincere in seeking a remedy for the
v, business depression. and that they"ish tovote
p''.h way as will best bring about such result
ID -" ~ and so-caLed Democratic party. of which
~ ,,-an is the chosen representative advances as
Ni ,re-au for our present Ills, the free coinage OF
sur o ratio OF l6 TO l. in other words that a de-
s Ne- NJ the currency will bring about the desired
o,. This carries with 1t the assumption that the
~ cause OF depression has been lack OF money
NE s.ero 70 ignore the fact that during most or the
-. ~ the growth Of the free silver sentiment mill
W. :, dollars have been lying idle. as the bank re-
W. MIL show. Those who had ii have from time
~ u,o AZ this sentiment spread. shown less dis
WEN % invest ii In either business enterprises or
good secu1lU's, 49,. .Ao ,0,,rr,n. =, tho
uth Of the free-silver sentiment is coincdent win
- change in the condition OF the times for
- ~ over ten years, beginning with the resump-
p ~ snecie payments. statistics show clearly mat
49, United States enjoyed great prosperity Business
- active and times good Wages were stap.e and
rnoiities decreased in price. In lS~ the whole
,,,d suffered from serious commercial and imam
"a, d,sturbance. which began with the Barring
orAle In Australia and in the Argentine Republic
~ rasplts were particularly disastrous but other To-
,l,ss suffered 10 very considerable extent ana II
a, matter of history that the energetic and con-
s-,es action Of the London bankers averted much
,ro-e serious and worldwide trouble.
These troubles brought about by natural
-. such as overproduction transportation in
- estate and wildcat banking. Their origin not
,slnS AZ home. 1t was natural that in the light or
,rors recent developments in the United States. many
A. DIR people should lose sight OF them 1t was also
srfscty natural in view of our close commercial re-
,,,ns with the rest Of the world. that we should feel
49, sne,, of these disturbances In 1892 they had be-
cor,e plainly manifest. and the people. losing sight
=, their cause sought a remedy in change OF Ad-
,,r straiion. The Republican party and It's princi
Mas were turned down. and the Democrats placed in
power
,.r,r and the repeal OF our reciprocity treaties.
The proposed new tariff not only disturbed BUSH
mess but the one finally adopted failed to provide
the Government with sufficient revenue TO meet It's
expenses The repeal of our reciprocity treaties.
ehich had created an increased and growing de-
nsnd for surplus products. and had helped so
se5 falling off in our exports as the statistics
show and a. a result added that of overproduction
10 our troubles. This followed by the panic Of
'1 a scare pure and simple. ~ this time the advo-
cafes OF the free coinage OF silver were lncreasng
rapidly. and as they increased times continued 10
II we look outside Of own country we find
ms other countries have to a large extent recov
cred from the depression which began in 80 We
alone have not done so. None OF these countries
haye changed their monetary systems In the m
ierm They have simply allowed natural condi-
can be no doubt that We should have shared
equally at least in the me me ~ w.
hen The disturbing factor which has. by destroy
ing confidence in us not only abroad but among
ourselves prevented a general Improvement Whlcn
natural conditions warrant our depression started
from natural causes. was aggravated by the rem
edy tried in go and has been brought TO us pre-
ssrt condition by the free-silver fallacy. Lack OF
sufficient money did not cause it. and has at no
time increased IL.
II is not necessary to discuss the question OF
whether or not free coinage. proposed would
give any more money. An improvement IN buSl-
ness alone would put the money in general cir
ouaton. Let first restore confidence and orlhS
the idle money now have back into business en-
ferprfses and we may rely upon any party which
happens to be in power keep our circulating me
dunn sufficient to meet all the demands of trade.
To-day the fear Of the possibility of the free COIN
age o silver overshadows everything else as
stumbling block the return OF prosperity IL mas
for some time been the cause instead Oh Den9 tnee
remedy. The mere assertion. without PROOF, OF
M Bryan and his associates that II Is the remedy
not sufficient when all history ana experience III
silver countries show the contrary j. X. Mch.
NorU "