The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-03-27

grounds of gold monometallism. The
so-called doubtful states were won by
convincing them that the republican
party was committed to international
bimetallism, What would happen if the
present administration should repudl-
ate bimetallism? a considerable num-
Der of the people to-day believe that
the gold standard is dishonest and ia
vors the few at the expense of the
many. These people voted the republi-
can ticket simply because they thought
that as long as the nations with which
we trade stick to a certain standard,
we must put up with these evils till the
standard is changed by mutual con-
sent. If we now refuse to confer with
the other nations the people viii believe
that the GOLD standard is dishonest;
that it simply makes the rich richer;
that it makes the poor poorer, and that
it leads, as it is leading, to class hatred,
to internal jealousy, and to a division
of the people into classes and masses.
Do you wish to fan their passions still
more? Shall We put the government
under as severe a strain as it has ever
felt?
What would be the result if the re-
publicans should drive out of the party
an element essential to its success?
The American people are ready enough
to shift from one party to another
And is it not certain that if the repub-
lican party should betray it's platform
promises, and should resort to such vi
client, rash and radical expedients, that
| the party of free silver will be left domi-
nant and that the free silver men will
be free to enact any vagary that may
please them? Mr.. Dingley was afraid
to oppose the bill giving President Nc
Kinley power to call an international
monetary conference. because it would
hurt the cause of sound money.
| What incalculable harm will be done
the cause if the administra ton should
announce a policy of opposition to BIZ
metallism? In view of these facts, who
stand here for sound money? The at
firmative do not. They are supporting
a movement that will put the power
into the hands of the free silver men at
a ratio of 16 to 1, and pledge us to silver
monometallism. We urge upon this
government a cautious and conciliato-
Try course-one adequate to meet exist
ing conditions"
Charles u. Clark of New York was
the closing speaker for Yale. He said
that the question was the advisablity
of adopting a concrete policy by the
United States. This start must be
taken by the present administration.
We are to declare that at the present
day or some future time every dollar
shall be redeemab1e in gold, and we are
to declare that we are to have nothing
more to do with international bimetal-
lism. 1t is claimed that confidence
would be created by such step. The
reverse Is the case Such action would
be a sudden and radical change of poll
Fey; our policy has been for the past
twenty years to oppose gold monomet-
allfsm, favorable to the large use of sill
Ever, consistently aiming at internation-
al bimetallism. Sudden conversions are
lapt to be followed by as sudden re-
lapses, and this violent break with our
past policy would be most suspicious.
AT the same time it would retain the
worst feature of our past policy--our
tendency to go it alone" We are to
have nothing to do with international
cooperation for relief Of conditions
but are to bind ourselves down to a
system which these great commercial
nations may abandon. But the politi-
cal and financial consequences would
f,o +a
fidence. This adoption must be made
by a declaration that from this day ev-
ferry dollar shall be exchangeable for
gold; or that offer, a. some set date in
1.-the future. If the first alternative is
abandoned, the Treasury would become
E1iable to redeem nearly 1900 0O0, 900 in
gold. If steps are taken to provide an
adequate gold reserve, a great increase
of the national debt must be made, gold
bonds must be issued. far heavier bur-
dens of taxation must be laid on an al
ready overtaxed people, political re-
versal would surely take place II no
steps are taken to acquire gold q run
on the Treasury will take place, and a
financial panic will ensua. If the Uni
ted States announces that at some fu-
ture date it will redeem every dollar in
gold, taxation must be increased to Sc
cure the gold and a political revolution
would result; moreover, such a ster
Fwould be reckoned as a confession OF
present weakness and would heighter
the present financial evils. Such ar
adoption by the United States. there.
fore, being sudden and radical change
of policy and keeping up the worst fea.
lures of our present policy, could not
restore confidence.
THE EDISON PHONOGRAPH