New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-24

free silver and sem-repudiation that met us JUST
rebuke from the frcemln's ballot IN 1870
II is said that to every man there comes al least
orce IN his lifetime the opening door OF opportunity
II ia his critical hour If he be unready ii ne hesi-
tate when he ought to enter H. IN snort MS ao''S
/ and the opportunity be not conjoined. fortune
! holds him thereafter unworthy OF her favors and
bestows them on another.
Something like this we do perceive In the history
of men. 1t Is equally discerniole In the lie Oh
States and nations.
Shakespeare was not less philosopher IMAM poe'
when he declared that
There is a tide in the affair. Of men
Which taken the food. leads on to fortune;
Omitted nil the voyage OF theit life
Is bound In shadows and In miseres
Speaking broadly. believe that the shape ana
destiny of our National life as 1t may be ahected
nv financial legislation, is to be Determined WITHIN
the next four years. -Four years 10 perioo SO
short in a peoples history as to bar all idea OF
furitv end 10 REQUIRE in substitution the more i'm
mediate omnipresent now.
AN ULTRA-CoNsERvATIvE VIEW.
The forces and energies which found victorious
expression In the last election are as slgnlncah'
now az they were then. Are we Intelligent and
coura geous enough TO take the action their present
warrant 1ustifes and secure the future against inc
dangers which have been for the present overcome
II Is said that under present conditions 1t is I'M
possibe that obstructonists can hinder and de.eat
fha
subject as the money standard is disturbing that
We have the best OF guarantees that for four years
the present status will be maintained that the re-
vval Of business will be best assured by the policy
Of inac,ion Covered in sentence, all this Is
summed up In the much-abused maxim Let wen
enough alone" The maxim well applied Is lndeed
a wise one but the wisdom Of 1t lies in the applca-
ton OF II.
When a-conservatism applies II to JUSTIFY
condition which is bad enough instead OF well
enough" 1t is fatally misappled That the conoi-
ton OF our currency and banking system Is oao
enough" is certified to by the deliberate Judgment
OF the great body OF economic students ana by
eeneraI consensus Of opinion among business men.
II certainly is not well enough with banking
system utterly inelastic and correspondingy IRE
sponsiye to the domestic requirements OF trace ana
industry to which, In It's proper relation. the banking
system shou be the faithful ana efhcent mana
maiden
THE TIME FOR ACTION.
It is not well enough with the National Treasury
avkwardly performing an office which is entirely
foreign 10 It's proper function. 1t is not well
enough" 1t is absolutely bad. when the result is
public treasury expanded in its demand liabilities
IN time of profound peace to threaten Its SOL
yency in case OF war. Thomas JEFFERSON the
putative father OF Democracy himself declared;
During the interval between war and war all the
outstanding paper should be called IN coin be per-
rn,tted to flow in again and hold the field Of cir
cuiation until another war should require It's Yield
'' 90, my friends we are no; justified in falling
back In supreme indifference TO rest upon per-
verted maxim. (Applause)
Generals Beauregard and Joseph z. Johnston did
that after the first battle Of Bull Run. when. with
fresh columns at their hand. they could have
marched on and occupied our capital The Fed
eral commander after Antietam did that. since 1t
has been shown that the Confederate forces were
too much exhausted TO interpose any effective OBJ
stacle 10 the possession of Richmond
Nor is agitation 10 be feared In Its effect on in
dustry or business affairs. II II Is TO be an agita-
ton in behalf OF better conditions. We have alb
solute security that for least four years no step
can be effectively taken which will degrade our
money standard or bring dishonor 10 the National
credit Agitation WILL therefore. result in nothing
or be productive OF good Under such conditions.
agitation Is the highest conservatism. applause
The establishment OF our currency and banking
systems upon more secure foundations is the one
thing lacking 10 the things which make for per-
manent condition Of reasonable prosperity.
In securing this the pioneer in the West. the
laborer in the mines the toiler in the field the
mechanic In his shop. the merchant and the bank
er are all. whether they know 1t or not. each in
his degree alike interested.
LIMITING THE DISCUSSION
The text TO which was called 10 speak Is thus
stated: Currency Reform-Now WhenT'
BY implication am absolved from all obligation
to discuss the how" go into details OF meth
DDS to achieve currency reform. This Is a great
relief me for two
First. it might be injudicious to anticipate here
and now what It will be my official duty TO set
forth little later
Second. 1t would be to enter at once the field OF
greatest controversy: where doubts and fears are
most numerous. and where passions and prejudces
have their freest play.
Every favors reform-his kind OF reform.
Many willing 10 have reform anybodys kind
II II can be had without struggle and free OF
Others. seeing that the path OF virtue leads 10
serene and restful planes. willing to walk in
the way Of H. even at the cost OF present pain and
sacrifice.
The nrst group embraces the radicals and faddists
Of every kind who will tolerate method not indi-
vidually their own
The second group the Indifferent many pirate re-
form. but fruitful only in objections. You may
retire the greenback. otherwise reduce the re-
dundant issues OF the National obligations payable
on demand. but-strange inconsstency!you must
not issue bonds in time Of peace--not even to dis
charge sacred obligations incurred in war. These
people ought to inform US as TO which Of the two
is the higher wisdom: To avail ourselves OF condi-
tons favorable to the highest credit and lowest in
terest to put financial house In order to wait
until another period shall come. when in the
unhappy days OF ls60-'6J. may be forced to
face dishonor to recover ourselves at double IN
terest upon obligations realizing TO our Treasury
only 60or 40-per cent OF the face of the contract
Others Of the same group tell us You shall not
contract the currency shall you permit any
substitution in the form of banknote issues"
With all these limitations. restrictions. and mpos-
sible conditions they respectfully submit that they
favor" reform.
The third group. convinced Of the wisdom OF re-
form-and reform now-and perceiving that in
lures order every good acquired involves some sac
rihce made must stand together In patient persist
ency and work along the line Of least resistance
Qor this. too. is natures order) to secure those
high ends at which they aim.
WHAT MAY BE GAINED.
In n word / commit myself to the following
proposition: At cost too contemplate for serious
consideration the debatable condition OF our cur