Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-01-27
NATIONAL FINANCIAL OUTLOOK


should be unmistakable signs, ae our
Nav York correspondent tells us, OF the
spreading OF tito silver agitation.
Though the exultation OF the victorious
party over the defeat Of Mr.. Bryan in
1876 was natural and Legitimate, those
who were not engaged in the struggle
were unable to share the confidence Of
the conquerors IN the permanence and
completeness Of the victory. 1t was
pointed out in these columne on the
morrow Of the battle that il was no
partisan or sectional triumph, and that
IL it were treated as such the inevita,
hle result would be to paralyze the in.
fiuenco OF the ''sound money! Demo.
Gratis, and to drive the rank and flo of
the rarty into the camp over which the
Eryanite standard of Silvorism and
Socialism has been hoistad. The Ding
ley turitf aud the general course Of Mr..
MCkinley's ministratiun showed very
soon that tho Republican wirepullers
had no notinn Of paying tins smailest
attention to tho wishes or tho interests
Of their Democratic alliea in the cam
raign against Organism. Tho reaction
which was displayed at the fell cleo
tions couple of months ago WIS he
yond ali precedent. rapid and decided !,
aud the success Of Tammany in the fret
contest for the control OF "Greatsr Nav
York" is OF evil omen for the Rapubli
can cause. In tho coming autumn the
opposing parties will fight not only for
dominion nror the local governments Of
tho most important States of the Union,
hut for tho command nt now Congress
which will have legislation absolutely
IN its hands during the secDud half df
Mr.. Mckinley's Presidential term. In
the opiulOn Of our correspondent the
outlnoS ia very far from cheering. Tho
account which he gives this morning
OF The political position is the natural
development OF the viaw taken hy him
in two letters written Immediately after
the November elections, which we print
elsewhere. No immediate result is TO
be- anticipated from the renewal of the
campaign by Mr.. bryan at Chicago.
from the free silver coinage debate in
the Senate. or from the conference OF
the friends of silver Democratic
and Republican. that has Just been held
at Washington. Ii ia not imagined on
either side that anything can or will he
done in favor Ut silver in the present
Congress, hut the Democrats are being
rapidly organized as an exclusively pro
silver party 10 preparation for the criti-
cal struggle few months hence.
Two leading facts are apparent as the
result of the fall elections. The Demo
Gratis, who we're divided 10 the cam
paigu OF 1896, ara now, Tor all practical
purposes. united, while the Republi-
cans, who could then boast of their
unity and strength, are at present
visibly weakened by process Of dis
Indignation which. it may be feared.
will go far. 1t was hoped that, after
the defeat of Mr.. Bryan, the Demo.
cratic party would rally to the able
men who refused to associate them
selves with Silverism and Socialism,
but the tendency has been all the other
way. The sound money" Democrats
have bsen squeezed out Of the manage.
ment of tine party organization, and
the wirepullers have fastened every.
where 10 Join hands with the popu-
lists. The Republican pbalanx, at the
same time, has been broken up, mainly
owing to the temporizing attitude of
Mr.. Mckinley's administration on
was claimed for the administration on
the ground that the secretary of the
Treasury, Mr.. Lyman Gage. was a
capable financieE and reaolute op-
ronent of attempts to meet public
obligations with u deprecated coinage
or paper Issues not based upon gold
standard. the President used ambiguous
language calculated to buoy up the
hopes of those of his party who we're
identified with a policy of doing
something for silver" The failure of
Senator Wolpott's mission to this
country was bitter disappointment
to these politicians, though not, prob.
ably, to the out-andout Silverite. Mr.
Bryan, for instance, and the whole
body Ut the Democratic party organi-
cation, which has now practically
arrayed itself under his standard. care
nothing, as our correspondent says,
about international bimetallism, ex-
cert ny way of taunting President
Mckinley with his failure to fulfil his
pledges and with his obvious lack Of
faith in a gold currency basis. The
breakdown of these opDortunist
projects Of tis President and the un-
willingness of the Republican majority
III Congress to support tho currency
measures, either of Mr.. Mckinley or
of his more logical and well.informed
Secretary of the Treasury, become more
serious when there are unmistaEable
signs Of division and detection in the
Republican camp. Five Republican
Senators have already openly renowned
their allegiance to their party, because
they have failed to convert it to Silver
ism, and others are threatening to
fnllow them. 1t is evident that this
movement is connected with tho heavy
losses which the Republicans SUSTAINED
in the fall elections, and which have
wiped out the Presidents popular
majority" though the contests weIe
not, except in one or two instances, on
the scale OF those which will be de-
cided next autumn.
1t cannot he that the forces which
defeated Organism in 1896 have been
wholly shattered and unnulled by a
series of tactical errors; but an i'm
mense advantage has certainly been
given to tho anRrchiral and predatory
tendencies that have recently become 40
formidable in American society, by tho
disorganzation of the Republican party
and the incaparity of the Sound
money" men to retain any controlling
authority among the Democrats. Ii is
clear that there will be a desperate
fight few months hence, to be re.
newed at the next contest for the Pres
dency in 1900, over the same issues that
wcrp supposed to he settlsd by the cleo.
tion OF Mr.. Mckinley. Though husi.
ness conditions are favorable, there is
much in the situation, apart from tho
currency, that is disquietlng. The
Dingley tariff has hitherto disappointed
the hopes Of lts authors. aud deficit
of forty millions of dollars for the cur.
rent fiscal year is an unpleasant fact
tn face. 1t must na remembered that
it is cot always when trade and indus