New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-19
MR.. SEWALL.S GOLD SPECULATION.

Mr.. SEUALLS GOLD SfEtC Lii iO-''
So Mr.. Arthur Sewall. the Popoclatic candl-
date for Vice-Presdent, the second member
Of the famous trio. the Bryan. Sewall and Wat
son Troupe which is going about the country
bringing tears TO the eyes Of an oppressed peo-
nIe with the affecting song Thou Shalt Not
Cruelty Mankind upon a Cross OF Cold mas
been spending his off hours putting his fellow
men TO the torture on n gold rack. Mr.. Arthur
Sewall does not lend his ships IN the service or
humanity for silver. not even for American
silver. He wants gold, and whether he is deal
ing with Chin1man. or Mexican. or New"
York merchant gold he gets Mr. Sewal
stands firmly on the Chicago platform, when
cries out against the iniQuty of demonetlzng
any kind Of legal tender by private contract
but in private he Is particularly devoted 10 de-
monetizing American silver dollars ana max
ing private contracts TO get gold ones Ina.
is the kind of a silver man Mr.. Arthur Se"ah
is. His golden horn is likely to cause discoru
in the trio and give added weight to MI
Thomas Watson's arguments that the music OF
tho troupe be converted into duet
Now of course no sensible man blames MI
Sewall for wanting the best money ne can
get He knows just as well as anybody that
Mexican dollars and Japanese silver are poor
money compared with American gold, ana ne Is
wise enough to foresee that even the American
silver dollar would depreciate If this country
adopted free coinage at 10 10 l. instead OF
maintaining its silver dollar on a parity WIN
gold by paying out the two metals Impair
TALLY ar the option Of its creditors he Is
enough of business man and banker 10 Kno"
all this and accordingly he puts into his CON
tracts even with American firms, who WOULD
have TO pay him in American money ana Wouid
not pass off on him deprecated foreign CON-
a clause requiring payment in gold. He means
10 take no chances Of Popocratc success drlV-
ing gold TO premium without giving MN the
benefit He wants TO be Nice-Presdent but
he doesn't want to pay for it by any sacrifice OF
his shipping interests.
or course. this looks like inconsistency. Mr..
Watson and the Middle-of-the-Road Populsts
will see in Mr.. Sewall an enemy VINO Is at
heart q gold man, and will demand that ne
cease TO interfere with the progress or the
movement for silver by his insincere support
But we think that these gentlemen are mis-
taken when they charge Mr.. Sewall with IN
sincerity in his preaching TO the people the
adoption of free silver. They forget that men
may he free silvertes from different motives
Some of them want to pay their debts M %
cents on the dollar. Others hope to sell their
corn for more cents bushel regardless OF
what those cents will afterward buy.
Others want free silver because it IL nearer
fat paper money than anything else they have
chance 10 fight for Then. according ia
Mr.. John Boyd Thacher. the free-silyer candl
date for Governor of NewloTk, the selfish IN
tercst of those who own silver bullion pleads
with 'us TO depart from the safe and secure
path" There is still another reason which
explains not only the conduct Of Mr.. Sewall III
providing for a future gold Income, but also
that Of Governor AltGcld Senator Stewart
The Rochester Herald's" godpaymen'
banker who. since the rOck-ribbed Union ano
Advertiser gave up Bryan. is left about The
only free-silvcr advocate in that region. anc
other far-seeing financiers who talk silver anC
/ reach out for gold
They are working for free silver on purely
business basis. They preach that doctrine foi
their own profit. just rs bear in wicked Wal
| Street talks down stocks that he has sold short
They are engaged in occupations which MAKE
them able TO obtain gold. Now. If they cal
persuade other people 10 bring about the coin
age of 80 cents worth Of silver into dollar
every gold dollar that they get under their con
tracts will lie worth 81 %. That will he
highly profitable speculation. Everybody know
how during the Civil War. when grccnh1ck'
were made n legal tender 10 save the Nations
life gold went TO a premium, and the genera
distress which that caused was the basis q
many fortunes. Everybody knows about IN
gold room and how the incomes of men wh
could get hold of gold were augmented by ih
depreciation OF other money. Mr.. Scwali an'
his fellOw-silvcriles who make gold contract
have not studied history in vain. They ar
entirely willing to help poor farmers and wage
| carners 10 silver currency that vii! doubl
the value Of their gold That is sharp busl
ness But IL Will he interesting to know villa
the Populsts who really want silver and wan
II for all alike think Of having their cause use
as cover for gold speculation by their truste
leaders.