Daily capital journal. (Salem, Or.) 1896-1899, 1897-01-11
THE FINANCIAL SITUATION.


casloually metropolitan paper
usually edited by the cheapest kind o.
hired editors and hence devoid o
courage or principle-lifts up It's voice
predicting the magical effects 10 be
had from the new tariff. But the
city press in general Is a blank on the
question.
The London Times, In an editorial
on the death OF General Walker, says:
"His death will be regretted in
Great Britain almost as much rs In
America. lie was one Of the fairest
an | most reasonable Of the advocates
OF bimetallsn."
After eulogizing the deceased econo-
mlst's attainments and writings At
considerable length, the Times con-
tInues. "Wlth all respect, IL Is i'm
possible that had he liyed, he could
have done much 20 further the ayowCd
object Of Senator WOlcOtt's visit
Senator Wolcott will be welcomed
here. For several reasons, Mr.. McKin-
ley could not have chosen u more ac
ceptable envoy. But public opinion
in England Is more hostile than be-
fore TO blmetallism. Nothing can be
hoped for from the visit except as a !
political move and salye to the silver !
ties. The failure Of his mission Is |
certain. No public man, whatever,
who has theoretical views, would |
think the present an oppOrtune mo
ment to meet the question, and this
opinion will subsist, at all events, as
long as bimetallism appears TO be
dropped or revived according to the
exlglences OF American domestic poll
tics"
At the Chicago Jackson banquet the
money question came up and was
handled by Mr.. Bryan without gloves.
lie punctured the tour Of Mr.. Wolcott
TO Europe but first referred TO the
great struggle In Jackson's day and
JeifersJn's. Mr.. Bryan's speech was
well received. Referring TO Jacksons
fight on the United States banks, Mr..
Bryan said; $
We eare engaged now In just such |
contest as that through which Andrew
Jackson passed and we do well on this
occasion TO take encouragement from O
his devotion 10 the cause OF the people.
He gained his greatest victory In his
fight against the national bank. We [
have the same fight on hand today. /
The national bank Is seeking TO force I
n retirement OF the greenbaeks and
then monopolize the issue Of paper
money. The Republicans, during the q
just closed, avoided this sub '
ject and refused 60 declare themselves s
either for or against the retirement of J
the greenbacks. But when they come J
TO apply their ideas 10 legislation, they G
must disclose their views. |
Referring 10 Senator Wolcott's mis- !,
sion TO Europe, he said In part: :
The fact that Senator Wolcott of
Colorado has been sent abroad by the
as an ambassador most
extraordinary, 10 bring Europe to bi'
lletallism, Is an evidence that the
gold standard is still conceallng its
blessings from the American people.
Il the gold standard is the standard 4
" civilization why should We risk a II
'eturn TO baTbarlsm by chasing after
blmetallism II Sena-
or Wolcott succeeds Ia stirring up "A
liver agitation In England he will he ~
Iccused of disturbing business aud dc.
troylng confidence In that great CEN
er OF financial confidence, London, :"
I his errand proves fruitless one he
slll only give additional evidence h
hat the United States must act 0,
lone. II, In other words, our oppo- 6, $
ents succeed In bringing bimetalllsm n
hey will relieve us OF great deal OF u
lbor and enable us 20 turn our atten- Il
lon 10 our relorms. II, on the other =
aud, they fail Ia an effort 90 restore d
lmetallism, after oonfeSsing that 81
lmetallism Is desirable, we may ex- II
pct the American people 10 join with o.
J In the opening OF our mlnts TO free
nd unlimited coinage at 10 20 l,with. ,,
lt waiting for the aid or consent OF -
~ other nation. 4.
GA @TO1NrA. q,