New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-18
LOCAL COMMENTS on THE STATEMENT.
BELIEF IN FINANCIAL CIRCLES THAT 1T Will
HAVE LITTLE EFFECT ON THE PREsI-
DENTS PARTY-NEW-YORK DEM

DENTS PARTY-NEw-YORK DEM
ocRATs COMMEND IT.
Tho statement made by President Cleveland on
Tuesday, and published in yesterdays Tribune. in
which the President refuses admit that the chi
cago Convention will declare for free silver ard
urges sound-money Democrats to fight against such
course was regarded in financial circles yesterday
ss notice 70 the Democratic party that II 1t would
see the error OF its ways abandon free silver and
come out for geld he would take the nomination for
a third term. As confirming this view. reference
was made 20 the sudden abandonment by William G.
Whitney of his trip Europe. 1t was taken for
granted that Mr. Whitney had been asked by Mr..
Cleveland 10 stay here.
Not a little hunor was extracted from the conceit
Of the President in practically suggesting that he
was the Democratic party. for that was what 1t
amounted 10 when he read II lecture. and babe II
dismiss al It's silver thoughts and predictions The
hard-headed New-York fnancers understood full
well that most members of the Democratic party
from one end of the country he other had the sil-
yer mania in an acne form. and that Cleveland was
anything but their idol.
THE THIRD-TERM DELUSIOE.
In fact the bankers and other men Of money agreed
that Cleveland the last his party would
pick out its candidate. and the wonder was that
the President could de.ude himself with the idea
that he any longer exerted any influence in H. Yet.
II remarked. ii was not so strange, after all.
10 the advice Of men skilled in finance and although,
as a consequence. he had terribly tangled up the
fiscal affairs of the Nation. he had admitted
that he had made or could make mistake.
il was conceded that the President sound in
saying that his party had gone wrong the money
question. but the point was that he set himself up
TO be a high mighty" when he expected the Demo-
Gratis OF the land bow down to him. and his
word change their currency notions. II clear
could not be changed II the operation OF trepannng
was performed each individual Democrat The
Democrats, in other words would good deal sooner
give up Cleveland than free silver
The strength of the stock market was maintained
by the attitude OF the Republican Convention at ST
Louis. Professional operators sold long stocks TO
take profits but they were readily absorbed by for
eign purchasers. who seemed be convinced that
new era OF prosperity in America at hand as
publican party would Inevitably he restored to an
fhority a; Washington In November.
PRAISE FROM WILLIAM sTEINwAY.
William Stcinway at his ONCE No 1Os
East Fourtcnth-st. by Tribune reporter yesterday
afternoon in regard 10 the statement Of Mr. Cleve-
land. Mr. Steinway said: Il think that the state
ment of President Cleveland was the utterance Of
straightforward. courageous man. who has the best
interests Of his country and his party at heart No
! do not think that the statement was made with an
effort 70 a third term. l have known Mr.
Cleveland. intimately and we'll. for many years
and Am convinced that he IL tired Of the onerous
duties that belong to the Chief Magistrate He is