The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-11-08
z1rxroI11 pnosIE~s ron 1893.

what all ciearaighted observers suspected
and feared has become a certainty. Tho victory
OF the gold standard in 1896 has shown itsen 70
have been indecisive not only In FORM out aIso
In the number OF votes by which 1t was aenioVoa'
Not till tho last moment, indeed, did the hepuo-
lican leaders consent, In 1896, to admit the men-
tion OF gold into the party platform, and they OK
plicitly avowed their willingness to accept silver
80 q monetary standard, Jointly with goid' pro
vided the other commercial nations OF inc WORTH
would do the same, Fortunately, the Domo-
Gratis came out squarely for tho free coinage OF
silver at the ratio Of 10 to 1, without tho ala
or consent Of any other nation" AMI thus forced
tho voters to choose between the immediate |
adoption of the silver standard and a future
adoption OF 1t under hypothetical conditions.
BY what strenuous efforts the immediate FREQ
coinage OF silver. at the ratio OF 10 to l. was DC
foated in 1896, will be remembered by all, and
the close vote OF Z. 1905 900 against II to $780,
900 for It lie a matter OF record. That the silver
ties were fully justified by the rosG.s IL coatiaa-
ing their fight Tuesdays elections also prove.
New York city has. by an enormous majority.
declared itself at least Indifferent In the contro-
versy, whereas a year ago it voted by almost as
large u majority against silver. New York
State has, though less decisively. also exhibited
q change in Its temper. Ohio. which. q year
ago, went overwhelmingly against the silver
candidate, is this year doubtful, and may possibly
send O silver Senator to Washington next March.
Kentucky has declared for the silver cause
after repudiating It In 1895, and what was tho
leading anti.silver newspaper in the State. the
louisville Journal, has been compelled by the
loss OF readers to abandon its hostility TO silver,
and announces that IL will hereafter support
che Democratic platform without reserve. Ne
braska, Bryan's State. maintains the position
It took In his behalf last year, and so do all the
Western States which then gave him majoritics.
In fact, tho aggregate popular vote cast on
Tuesday 10 nearly as large for silver as that, in
the same territory, was against 1t in 1896. No
wonder. then, that Mr.. Bryan exults and conf.
hdently predicts success for silve or in 1900.
How many votes were gained for the Repub-
lican candidate in 1896 by the express promise
Of the party to maintain the gold standard only
until an international bimetallic agreement
could DO obtained, and by the obligation It APP
parently assumed to accept silver as soon as tho
effort to reach such an agreement definitely
failed, 1t is impossible to say, but their number
must have been considerable. Now, that the
event in view has happened, and Europe. under
the lead Of Great Britain, has refused to mako
the agreement to the promotion of which the ST.
Louis Convention pledged itself, the Rcpub.
licans must como out uneouiyocally either for
silver or for gold, and II, as is most probable,
they como out for gold, the question. whether
the majority of tho voters will sustain them in
doing so. is one which VIII be answered IL not by
the elections of 1893. then by those of 1900.
silver, though the chief, is not the only nnan.
cisl issue before tho country. A large number
Of our citizens. Democrats as we'll as Rcpubli.
cans. and MANY of thcm living at the west-al-
though the majority of them reside in this sec
tion-are DESTROYS to bring about what they call
n reform Of the national currency ystem. the
leading feature of which ia the fund. az into in.
terest.bearins bonds Of tho Government demand
the substitution for them Of bank notes. under
conditions which viii mako tho issu. Of those
notes moro profitable to the banks than IL now
ia They nssert TINT the Republican marty re-
ceiyed, at the election of 1896, a mandate from
the peoplc tn make this reform. Int thcro Ia not
the slightest ground for the assertion, and Il is
based upon nothing but imagination. Still.
President Mckinley and his Secretary OF tho
Treasury have declared in N ror NJ the me,srre
aud may possibly urge the sdoption OF It upon
Congress- next winter.
That Congress- will complv with any recon-.
mendation 10 this effect IA highly improbable.
Three years ago a bill based upon a similar
recommendation from President Cleveland was
presented to the House of Representatives but
got no further than the Committee of the Whole,
and was then thrown out. The Speaker of the
present House is VIGOROUSLY hostile to any cur
rency legislation at present. and Ia apparently
supported IN This nttltudo by q majority
of tho Representatives. The Senate Is com
mitted against any currency scheme Of which
the free coinage OF silver at the ratio of
10 to 1 is not q part, while the House 10
equally mmitt against any bill contain
ing such a provision. The only result, there
fore, Of Introducing the subject into either
body would be to provoke a ~fruitlcss debate,
to the unsettlement of the public mind, and
to the great detriment OF the oountry's business.
The currency reformers may be ~fanatical enough,
however, to accept this risk, and the possibility
that they will do SO must be reckoned with.
Moro certain to ar. use fin ncial discussion In
Congress is the subject Of revenue. At present,
the Governments expenditures are exceeding
Its income at the rate Of betw cen $75, 900, 900
aud $50, 90. 900 a year. Hopeful officials of he
Treasury predict that Its receipts have cached
their lowest point, and from now on will in