New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-31
for revenue and for protection Of industries snail
not be prevented nor needlessly delayed.
THE wopDs OF SECRETARY GAGE.

All the peoplc have occasion 10 thank Secre-
tarv Cage for his statement at Cincinnati. lie
&c a nrnctical business man, and his words were
nromptcd by appreciation Of the Immediate neeu
NJ greater confidence But the millions OF wage
earners have an equally direct interest III inc
revival of business and also the millions Oh
farmers. To them all the judicious words OF
the distinguished and eminent banker In charge
Of the Nations finances give hope ana renel'
His statement was also in its form admirably
calculated to meet the doubts which nave
most disturbing force in the minds OF business
men. II will do good not only in this country
but abroad for Mr. Gage is not unknown - the
ablest fnanciers of Europe, and enjoys high
reputation as a safe and prudent man.
Perhaps the best part Of his statement in It's
adaptation to present needs was his assurance
that speedy action on the tariff may be expected
Mr.. Gage does we'll in bearing testimony 10
1.-THE zeal and good faith of those In both houses
..who have that measure in charge and he
says. with truth. that they are fuliy conscious
"of their great responsibilities. and are WORKING
faithfully to discharge them Inc Tribune
has moi been able TO agree with the Senate com
mittee in all it's conclusions, but can TESTIFY 10
the untiring labor and sef-devotlng spirit when
It's Republican members have SHOWN i'll 'heir en-
deavor 10 secure a safe and solid majority FOR
the measure. and TO make it as perfect accord
ing to their judgment, as they could. WINE IL
should be and probably will be improved. there
is. nevertheless. due TO the committee great
praise for its services. Mr. Gage audS hoS'
valuable and encouraging testimony IN saying
that its opponents are not "lkely TO oppose WIN
.wilful and unjust obstruction the course OF
Legislation" The patriotic among them 40 not
desire and the purely partisan know that they
cannot afford. 10 delay the restoration OF pros
perlty.
On the money question Mr.. Gage judicously
avoids detail. and does not commit hlnseh OF
the Administration to definite line OF policy,
but his words are not the less reassuring. Inc
country knows that he Is a banker OF great ex-
Dprience understanding well what the country
needs and may therefore rest assured that he
does not speak idly in declaring that the ADMIN
istration will lin good time and in proper order
make it plain that il has not forgotten nor VIII
II disregard the will Of the people expressed IN
November. What precise measure Is needed 10
place the currency on a solid basis Is yet to be
determined. but the country does not forget that
the President. by whom Mr.. Gage was selected,
showed during the campaign the clearest pos
sible appreciation Of public needs and firm de-
termination TO meet them.
1t Is not only true, as Mr.. Gage states that
the revival of industry Is near but there IS
ample evidence thar 1t has already begun While
prices are remarkably low, 1t should be remem-
bered that this is the natural end inevitable con-
sequence of an expansion in production antlci-
Mating and for the tine exceeding the enlarge
ment Of consuming demand. On no other terms
is recovery possible. There must first be larger
employment before the millions can purchase
and consume more largely, and the temporary
excess of production storing up products for
future needs involves temporary depression
in prices and narrowness OF profits. But the
larger employment has come in great measure
and not far behind will come the expansion OF
consuming demand Of which the Increase OF
retail trade in most cities throughout the coun-
try already gives evidence.