New-York tribune., 1896-01-15

premium or hali r per CEN on -'lb
Yes ana OH legal tenders also. There j. not the
slightest di>crcdii of the grc'nbIch, in this per
formancr not trace Of that anxious distrr>t
of the LEGAL tenders. or doubt whether gold re-
dcmpiion eau be maintained. which the Pres
dent has pretended t. find AT tn bottom of Nil
trouble Yarns II that nature are made r.iicu-
lo,iS because whenever anybody wants gold io"
an especial reason he j. willing io pay The same
premium fpr grccnbacks ~ the same time. Al
the world knows that the er,cnhack was made
as good as gold by the Republican party IN
lN7D and hitherto has not lost that position
In fact for time during the worst of the panic
in ls.3 rs all remember. premium IN gold
was paid for grccnbacks. and the l"sal-tcnl"r
dollar wa- actually worth more than ,hc -oid
i' promised.
Thu, far President Cleveland has brought lis
on. hy hi, performances. \ premium on gold
which disappeared In the latter part OF 1879 has
been r.,u>citatrl But 10 bc just. the rc>ppn>i-
hHliy here Ncs with the President rather than
with hi, parry. TO rs amazing lnclpIciiy and
wrong hcadclncs, was added his own pccum
and astonish'n. defects 1t wa, Mr.. Cleveland,
and not hi party. who insisted upon dcprrci"'-
Ing the public credit month aftcr month. AMI
which gave syndicate blnkcr> especial advan-
n-,s That is the immediate cause of the
premium But the ease would not be fairly
stated. either a. to Mr. Cleveland or ~ to his
party. II other events which have produced the
premium on gold were not rccicd.
The first was the dishonest alliance between
ropuli,is. silver men and Democrats. by which.
before the tariff of 1890 had been fairly brought
into operation. hostile Congress was elected.
and MIR Cleveland himself was elected IN lN32.
IIs own dishonest appeals 10 free coinagc mon
and t. Protectionisl> when he knew that he
never meant to help either led conservatives
throughout the world to believe that the de
strtictlvc and dangerous forces In this country
had Mr. Clcvcands willing aid in return for
his election.
The second WAS The refusal to call Congress
together early in 1893. and the encouragement
given ro Secretary Carlisle to suggest the pos
sihlc redemption Of Treasury notes In silver
only That with the previous cause made panic
inevitable.
The third was the persistent hur unruthfui
assertion that the fear of tar.n change had moth
Ing to do with The state of business and indus
,rv. and the attempt 20 east the blame for MI
were dcluolcd 70. a time only to become more
profoundly dstuIstful aftcrwarl If IN" I'rcSi-
dent. his party AMI the Government under their
control
The fourth. and the most important. was per
hitting 4 corrupt and dlshonorabl" tarif. lie
signed 10 damage American Industries ana to
cripple the Treasury, 10 20 into effect without
the Presidents signature. confcSScdly for par
tisan motives only That was the crownnS
crime which made this Administration the most
disastrous ever known in this country.
The nth was the persistent attempt through
out the winter Of 1SH-'95 10 dishonor American
currency. to create fear that bonds would not be-
paid nor grccnbacks redeemed In gold, ana I"
make room for wildcat state currency redeem
able In nothing in particular Nhen ths proh'
down. the President apparently threw hihiSe'l
bodily into the embrace Of Il syndicate oi inter
national bankers and made them II present OF
ST. 100000. more or less. as II the Government
of the United Stntes could no longer get on with
ont that shave. The Government credit never
received Il greater shock since 'h' h'''h'P''"
secession of States in 1851.
Not yet content, the President has missed no
chance the last year Of deprcclatIng the credit
Of the country. casting doubt upon It's ablll'y To
pav debts and demanding substitution OF Eod
bearing bonds for lcgal-tcndcr notes. as the sole
H,A,th to safety. Having thus done all that he
could for months 10 destroy III" National crrolit,
he then made haste to engage the country III Il
foreign controversy Of Il serious character, ana
Immediately thereafter asked in frantic hurry
to borrow SlOO.OO0.OO0 gold. when no such loan
was In the least degree needed or cXcnsnble II
Is a grand country which can sustain itScif
against the performances Of such President.
No one lmpucS 10 him evil purposes Neither
does anybody imagine that bull In china
shop has Il deep scheme to raise the price of
crockery. The mere truth is, that he does not