The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-23
SATURDAY. APRIL %, 1895
SOMETHING TO KEEP AN EYE ON

SOMETHING TO KEEP AN EYE ON.
The New York Evening Post has the
following cable from London under date
OF April goth:
.-rhe feature I'm the stock markets here
to-day was the Aatness in foreign s'oohs'
The Paris bourse being utterly "elhoI'i-
lied bv the continued fan in spanish 49,
which closed no the lowest g. Ihe weak
ness I'm eonsols caused the notion Oh rise
in The Bank of England rate to-morio"
and ON this belief discount houses decilh-
"a to work. and an such business was
done at the bank itself which had the ell
feet of making loan rates easier.
Americans were almost unsalanle' pu'
there was no great pressure 10 SELL ana
bear position 40 least i'm ST. faui anu
Louisville now undoubtedly exists. The
manner in which New York absoros
stocks is much maryeled az.
'.The markets here are now thoroughly
close-reefed and prepared for war. bat
the Paris Bourse will feel the blow see
verely AS instancing how the market
here is now looking ahead. II is common
talk that war means the final defeat Of
the silver party in the United States
A good many thoughts are suggested
by these few paragraphs but the most
important and the most interesting one
IS the suggestion that i'm any event the
war will mean the ending of the free sill
yer party.
We believe ourselves that the war will
end free silver however long the war
may last-whether long or short. The
free coiners did not seem TO know it. but
they were i'm fact ended If we had had
no war For a year now people have, been
seeing that all the prophecies of the free
coiners were erroneous. They nave seen
wheat steadily advancing In price under
the gold standard and they have seen
business reviving under IL everywhere.
All the idle men of the country have been
put to work. with hrst-rate wages paid
in gold. or its equivalent and every man
saw. when this wretched Spanish war was
forced upon as. that the country was en-
terng upon one Of the most successful
periods Of prosperity that 1t has ever
known. These facts made no impression,
Of course. upon the genuine free coiner,
because he is an infatuated man, and
nothing that conflicts with his curious
MOTORS produces the slightest effect upon
him. But hundreds of thousands of men
voted with him I'm 1856, who are not free
ooirers at an. They went Yth him be-
cause the tide seemed TO be setting that
way. they did not understand the subject,
and they concluded, therefore. that they
would try his experiment The eyes Of
most of these have been opened bp what
has transpred in the last twelve months,
and they viii not vote with the free coin
ors any more and. deprived of this very
large contingent. the free silver party is
badly depleted.
We repeat then. that whether the war
IS a long or "a short one free silver is
done for aud will never be serious men
acc again. That much we feel sure Of
and FOR that much we thank Heaven,
however much We may deplore having
been forced into war,
But the war will cause US 10 be threat
ened by another peril which is second in
lnIiNAA NANh 10 tAANhA Nt"AANs - NAttA VI 80
back. Mr.. Allen, the Populist Senator
from Nebraska. offered in the Senate the
following resolution;
"That I'm the opinion OF the Senate no
circumstances can arise in the relations
OF the United States OF America and the
kingdom of Spain that will warrant an
increase of the interest bearing bonded
indebtedness OF this government, or that
viii In amy manner interfere in the re-
form Of the financial affairs of the United
States on lines laid down ia the National
Peoples Party platform Of July. lN0"
The meaning Of this resolution IS tina;
as the war causes the governments ne
cessities 10 increase. II "a 10 increase the
speed OF the printing press and issue its
legal tender notes 10 pay for what st
wants in whatever quantity required
That theory would. OF course. at once put
MS upon paper basis as st would soon
be impossible for the government 10 re-
deem It's notes with gold, and we should
then see a paper currency steadily de-
prsciating IN value as II did during the
civil war This Is. OF course. the popu-
lists idea OF finance ana Mr.. Allen did
not produce the unexpected when he Of
fered his resolution But u Is none the
less absurd because not unexpected.
There is but one way that nation go
ing into a great war can avoid issuing
bonds and that is TO impose current tax
ation sufficient TO meet current demands.