New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-01
wKINLEY IN ENGLAND.
NV CERTIFICATE FROM HIM ON
TUE CURRENCY QUESTION is con-
s,DERED INDISPENSABLE
London, May 20.

den0'' -, LITTLE that Is said is unfrendy
con''' -, will involve the triumph OF American
h ",o,o,es Of industrial independence and protec-
PIN - hone labor. Naturally it will not excite
.n,husiasm in England
.o,ersnces are made in the London or the
s,,c,.l press to Governor McKinleys tarif
pVs He is not criticised as the candidate OF
,oss,onal politicians. The English press ia
'"s ..-,,od h, its New-York correspondents. and
VIZ 80 ~ his canvass are clearly recognized
'H' -, that the most experienced political
- rors have opposed his nomination. and that
m'"" on,o have taken him up and forced him
'"' 49, convention in defiance of the party
'p' ri,oa yvas when President Cleveland was
o0''r ~. the English press for his success in
eN'O' tho will of political managers and COM
s.a,ng popular support What was considered
"""N - rrasident Cleveland ought not to be
w.. loss in Governor Mckinley; but he is not
any,. 18th the reputation Of being stronger
'ie-', confessional politicians. The truth about
-. canvass is known but he is the protectionist
d" .,or and it 10 not considered prudentin Eng
80 - compliment him. 1t is easier and more
''' tor critics 10 refer vaguely to the dis,rust
-,srosd by his silence on the currency question
,.,,o-a that he needs certificate of iinan-
cal soundness' ,
rur REPUBLICAN PARTY'S RECORD
.scanes observation here is the fact that
p.nrhl,can candidate for the Presidency mas
~. r.sded any certificate OF this KIND since the
.s.,s If the Resumption act. American creo'
p '.. -, compromised at home or abroad until the
,,oora,,e party for the first time in generation
S.,,,sa entire responsibility for affairs. For
-...r.t,on preceding that catastrophe there had
M deficiency in National revenues Ihere
,ovs a large surplus available for DEBT
-. an an unexampled scale From August
,as. - 1uly 1892 the reduction Of the National
s.,, w,s s1.914905 101. This miracle Of finance
~. ,roueht under the opera ton Of the protective
Lily for which the Republican party was respon-
',.,. Vat only was the National debt funded and
.,,rdsd az lower rates Of interest. but the main
...orco of the Resumption act passed unchal-
,.nges American credit abroad was unclouded
81 long as these Republican policies were not In
,,rtered with. When they were abandoned or re-
rsrssd the conditions of American prosperity
usr. transformed A Treasury surplus was con-
yer,ed into deficiency; the National debt was
heavily increased: the gold reserve was depleted
and the Resumption act imperilled' all classes q
American securities were depressed; the borrow
haired: and there was a collapse Of American
credit abroad All these results accompanied the
conplete restoration Of the Democratic party to
power and the revision of the tariff on hngilsh
lines.
After this experience il would be natural 10 IN
fer that a Democratic rather than a Repuphcah
candidate neads a certificate of financial sound
ress. As the English critics have been explain
ing the case for the last five months. American
creal, has suffered from Treasury deficits the
shrnkage II revenues, the increase or the Ma
tonal doh, the exhaustion Of the gold reserve
the naralvsis Of business the poverty OF the con-
sunng classes and the prevalence OF wa sca''S
and menacing diplomacy. All these results nave
occurred under Democratic administration -N"'
one Of them has happened while the Kepunhcah
marty vos re3onsible for the financial policies Of
.ba United States In these circumstances the
nomination and election Of any Republican cahui-
date ought reasonably 10 be Invested win the
promise Of the potency Of returning prosperity
and financial stability The critics instead OF
rca soning from premises based upon recent ex-
perence are infuerced by British prejudice
against Governor Mckinley as the leading Amerl-
can pro,ectionist. They shake their heads omi-
nously and apprehend DISASTROUS consequences
from his successful candidacy unless satisfac-
tory certificate Of his soundness on the currency
question can be produced.
BENEFITS TO ENGLAND.
Judged by their own standards OF action. the
English experts ought to prefer any Republican
70 any Democratic candidate for the Presidency
They have derived great satisfaction from the
general results Of their own financial policy dur
he loc. al dol bee
largely reduced, and there has been an immense
surplus in the Treasury In their estimation
these have been crowning achievements Of Eng
lsh financial administration. which have been
unerring indications Of national prosperity. II
this be true, they ought 10 recognize In Governor
Mckinley a financier Of their own way Of think
Ing, for he Is committed TO the policy OF providihe
adequate revenues for meeting current expendi-
lures and leaving a surplus 70 spare FOR the re-
euction Of the national debt. That is good Eng
lish finance Why should it be anything else In
America? Why should the Republican candidate.
who represents better than any other American
statesman this sound English policy Of having a
surplus in place OF deficit. be accounted dan
eerous leader who stands In need Of certihca'e
OF good character as financier? II he were not
known as the author Of a tariff strongly protec-
ZIONIST IN principle and opposed to EngNsh Tree
trade IDEAS nothing Of this sort would be sug-
gested
But the English critic insists that the certih-
ed'e is Indispensable because there have been so
many war panics and because there are so many
uncertainties respecting American financial leg
's'd'ion. He does not pause u consider that his
o"h IDEAL American candidate. President CieVe-
ANA has been personally responsible for the
venezuelan message. with Its menacing IAN
suase and for the slump Of all classes OF Ameri-
can securities which Immediately followed 1t. Nor
uoes ne compare the records Of the two American
p<'tes In order 10 ascertain which has been on
'he night and which the wrong side OF every
financial question during the last generation
.,of is ne Influenced by the fact that Governor
"chnley represents the State where all the great
pat'les Of honest finance have been fought since
we Civil War. and where the Republicans have
s'"d!s been on the right side. Governor McKin-