New-York tribune., 1897-07-17
THE WAYS OF CURRENCY AGITAToRs.

A word of practical advice may be OF service
to those who are agtating for reconstruction OF
the currency system. They are taking just the
course of all others best calculated to render
their efforts fruitless. 1t Is blunder, and one
of the most surprising. to berate the President
as if he were weak or false in refusing to en-
danger even in the least degree, the reform or
the tariff IIe has many friends who are likely
10 resent. as he may not. such attempts to bully
him into action which he has not yet thought
Il wise TO take.
There are other phases Of this question which
really capable advocates Of currency reconstruc-
ton can hardly overlook. The President has
sent commission to Europe charged with the
duty of negotiating in regard to the larger use
Of silver as money This he has done in good
faith and in the discharge Of public duty. and
representatives of all other nations have right
TO suppose that the United States is not unwill-
ing to adjust its own monetary system with
some regard to any result which the negotia-
ton may bring about. But would 1t have the
aspect Of good faith il the United States should
meanwhile proceed to strike out a new currency
system for itself, without even the delay neces-
sary to ascertain whether foreign Powers are
prepared to negotiate at all or on what terms? :?
No system can be framed by commission here
which will not of necessity affect the use OF
silver as money and the demand for 1t in this
country. or the quantity which may here be
discarded as useless and emptied on the worlds
market. Ii would be strange indeed, II one
commission returning from Europe should re-
port to Government the possibility OF interna-
tonal agreement on some basis. while another
commiss. .Jn created by the same Government
should propose a reconstruction which would
render any such agreement impossible 1t Is
conceivable that President Mckinley has this
point also in mind.
1t is another remarkable mistake to suppose
that a reconstruction Of the currency, which
must be accomplished, il at all, by votes OF the
Representatives of the people. can be rendered
more popular and welcome by the jealous activ-
lty of bankers in associations or otherwise. In
these Eastern States the value Of banking in
s,itutons and the personal merits Of bankers
are not unrecognzed But II any man sup
poses that the approval OF an entire National
convention OF bankers would render none
tary plan more popular at the West or South.
he has not studied the currents Of public Opin-
ion very carefully.
1t is an additional handicap for the movement
that all the journals which have been trying to
bully the President. and have accused him Of
weakness or bad faith. happen to be passionate
worshippers OF the ex-President who has Just
wrecked his own party on the money question
Plain men can readily understand that these
followers of Mr.. Cleveland would particularly
like to rcnd the Republican party on the same
issue, and would delight in setting part Of Its
voters against President Mckinley. But that
is not a reason why he or his sincere friends
should make hot haste 10 help them. There Is
a widespread and strong feeling among Repub
llcan voters Of the Western States. and not by
any means confined to those States, against
abolition of the greenback currency and substi-
tuition of notes issued by banking institutions
The men who earnestly advocate that change
have to reckon with this predominant popular
feeling in certain sections. and may well remem-
ber that President Cleveland in advocating SIM
liar measures. found himself quickly without
a party in many Of the States. One can imagine
that they would like very much to see Presi.
dent Mckinley placed in a similar position.