The morning times., 1897-02-06
GAGL,S FINANCIAL. POLICY.
The OEtl;re If IT Is Correct, But
VIII RPpu biicaHs Dare to Face II?

The recent formal announcement of the
policy or tie Secretary OF the Treasury
in Mckinley's Cabinet, continues to cause
much discussion ut the Capitol Keen in
tcrest was excited by his declarations, and
it has not hreu confined TO members OF
lis own party Men high IN the leader
ship OF the several parties, allied In the
silver movement, have shown particular
concern in this announcement OF a l.ol.cy
The authority Of the Gage interview has
been disputed, but weIl-i informed poll
ticians say that while the publication OF
the Interview may not have been aut hor-
izcd, its stattment Of Mr.. Cages position
was entirely accurate.
PrraHnent Republicans who had dis
cuSsed the financial question with Mr
Gage, prior 10 lis selection as Secretary
81 : that the World Interview afforded Il
very concise statement OF his views They
hold tn the opinion that the repEGiation
of the interview is due 20 the fact that
the opinions announced had not been sub
niitted to the President elect It has not
been customary FOR Cabinet officers with
the exception OF the ever-cffervescent Nor
tom authOritatvely 10 discuss the affairs
of their departments without submitting
their opinions to the President.
Mr.. Cages statements of a purpose to
sell all the bullion stored i'll the Treasurv
and To retire the Creeubacks is but the
announcement of q policy boldly declared
by many radical gold men i'll the cam
paign, and very near to their hearts
But many Republican leaders are desper-
ately afraid OF ii at part of the proposed
program which rctires the greenbacks
Senator Sherman himself told a Western
Congressman Yesterday that such ii course
would be "ruinous to the Republican
party"
The Republicans are expecting, in any
event. great reaction from the gold
sentiment expressed last fall and are not
anxious to emphaSiZc-it by an assault on
tie grecnbacks Some of the close ad-
mirers of the President elect Xpress serious
doubt of their ability To carry such a
program through Congress, should the
administration adopt it, They expect
little serious opposition to the PROPOSE
ton TO barter the bullion, and think
Mckinley is likely to make that promi
nent feature OF lis Treasury policy.
''JuS5 what the Treasury could do with
the bullion is a prnbiem," said a Demo-
cratic CONGRESSMAN HeSleft!dE. 1t is not
salabIe: no market can be found for it,
1t Is an exceedingly brisht idea for the
government first To- deprcciate the value
Of It's property By depgiving silver Of it's
money function and then To place what
silver ii owns a the mercy OF falling
mari:ct in the hardest kind OF hard times >
wen, the plan would have one virtue =
replied a Gold-standard Treasury special
ist, 1t would afford an ample ana elegant
object lesson OF the folly Of huying the
blllon under the Sherman law, ana that
might be Seryiceahle to the country in the
future
The very first effect of the effort to
pass a bin retiring the greenbacls,'' sail
Senator Jones, Of Arkansas, to the Times,
will he to produce an acute division in
the Republican party. Many men who adj
heTed to the single gold standard believe
arlently III the continued use Of the green
backs. The proposition viii be strongly
c0mbated inside the party itself, and a
division will follow that is certain to prove
Gisastrous.'