New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-28
HENRY CLEWS or MONEY.
IN FAVOR OF THAT CANDIDATE WHO WILL. COME
OUT TTATvOOTED FOR PRESERVING
THE GOLD STANDARD.

OUT TIATgooTED FOR PRESERVING
THE GOLD STANDARD
In discussing the money question yesterday Henry
Ccws said:
THE Ncw-York Tribune has done very credltabc
work OF sound money and It's articles
fail TO have n potential effect in the selection Of
sound money candidates by both parties In the
Ing campaign The gold standard for money as
against silver basis. which cuts intrinsic value In
two. should not be an ISSUE In the canvass. as the
&c to advocates should be shclvcd entirely by the
Republican and Democratic conventions nominating
sound money candidates. The question to what
IL meant by the word coin has been settled to
mean gold-just much as II an act had been passed
by Congress insert the word gold in United States
bonds and other obligations The American people
have settled II now and forever, so that Congress
sional action now is really necessary When the
silver orators talking against time In tho SEN
ate. trying make the word coin mean silver. the
American people. with whom actions speak louder
than words. decided that tho Avord coin meant gold
hence they put In 5000 100000 bids for the 500 900
bonds offered by the Government for subscription
This settles the controversy for all time.
Cold 1t is that backs the United States Govern
credit and silver is not In 1t. The NTH OF
ruary last, when the bids opened for the loan
was a gold leaf day for America. from which there
will be no retrogrcsson.
The question OF providing for the legal tender
Government money Will be matter easily settled
SO far there being an endless chain In drawing
upon the Treasury gold reserve. providing Congress
will pass the revenue bill now before IT, and there
by give the Government a surplus revenue instead
of deficit revenue az at present Such a measure
II passed, would make 1t practicable to hold the
notes for which gold has been drawn. which in
effect, far protecting tsc gold reserve would
be almost the same as though cancelled. For In
stance there are at present sl05, 100000 OF these
notes now In the hands OF the Government The
Treasury holds 100000 OF free gold and also
| holds silver bullion against the notes of 1890 which
at the present market value Is worth $4,000 900
These sums aggregate ;21s.U0.00O. and an Offset
against the notes. thus the liquidation OF 1923 10000
lega-tenders Is virtually provided Tor and only
SlGO OODOOU remain for Other treatment or offset II
viii thus be In how much better condition the
finances are for dealing with the legal-tcnder ques-
lion than is generally supposed
I'm this situation OF affairs. 1t becomes very In
Treasury to get control OF Thu balance OF slC0 900
notes II would be an easy mater to regulate tho
ieeai-tender money Of the country as against Its
ndancv 10 conversion into gold II the revenue bin
now pendng In Congress. or soEie other OF the
paracter were passed 40 to give the Government
= nurniua income Government whose demand
notes are under ts control to me extent which now
exists IL not a fit subject Tor the d!scredlt which
foreign critics choose to cast upon ours. The fact
- Main that almost unconscousy-certainly not
from any great sagacity OF rnanagemont-the Treas
urv question and with IL the broader currency qucs
ton is on the way OF settling Itself by an unex-
President must be in favor OF the worlds best
money which Is the gold standard as the preserving
Of the gold ~ k IN s w the sooner or
centre the world The adoption OF silver at 10 TO /.
which is so foolishly advocated by many would bury
ali hopes OF this ever being accomplished. l am.
therefore decidedly In favor OF candidate for the
the gold standard and the election OF such an Execu-
tive would insure high credit for the Nation. prosper
Ky for the a for
all other nations"