Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-01-24
VOICES OF THE PRESS.
The Teller Resolution.
lNnW Nnrk I,nNi.l

tNcW YORK POEt.1
In 50 far as il reveals the unchansins
purpose of the cheap money politicians,
the report of the Senate Committee on
Finance in favor of Mr.. Teller's resolu-
ton de, laring the government bonds to
be payable in silver, AS well as IN gold,
is a pertinent and significant contribution
to III" current discussion of financial
problems. The proceeding can do no harm
at this time, and ii may do some good
by its sharp reminder of what the coun-
try would have to expect II the PopuliSts
and their Democratic allies should sue
coed in breaking down the sound money
policy of the administration.
Mr. Tcllers resolution could hardly pass
the Senate if its enemies in that body
chose to offer the full resistance of which
tncy are capable. 1t could. under no cir
CllnlStanceS. pass the House. but even II
il were to go through both branches with
out obstruction it would receive an i'm
mediate death blow in Il presidential
veto Senator Teller is well aware of
these conditions. and it is evident there
fore that he has some indirect object in
view in bringing his measure forward
with certain defeat staring it in the face.
" hat is mis- programme? Is it threat
intended to halt the movement for cur
rencN reform? Is it Il scheme to force the
sound money Democrats in the Senate to
declare themselves once for all in favor
of Organism or against it? Is ii the be
ginning of desperate plot to impair
American credit ABROAD anu tHuS Atiipt
foreign holders of our securities INTO an
other raid upon the growing volume OF
the gold reserve? Is it the initiative of Il
reckless conspiracy to force a further
bond iSSut and cmbarrasS the govern
ment at time when the critical nature
of it's relations with Spain should appea!
to every patriotic American to stand ny!
Loyalty in support of National honor and
National defCnS"2
Whether any of these is the reason for
r.aGD H.
ton. thai gentleman alone can explain.
one recent utteranCc of the Colorado
Senator. however. is Of peculiar signiii-
canoe in the light of his present attitude.
He declared only fortnight ago that
his highest ambition was To destroy the
Republican party. and that he expected
to see that object accomplished in l9OJ.
if not before. The adoption of his reso-
luton as to the payment OF the bonds
would achieve his purpose almost immc-
datcly. The sound money policy of the
administration. pledsinE the government
to maintain an actual parity between sill
Yer and gold and permitting the creditors
of the Nation to demand payment in
purpose of Republicanism. When that
policy is destroyed the party itself will
be destroyed and Mr.. Teller knows il
we'll that in offering his present meas
IRE he has aimed u blow at the very
heart of his intended victim.
His attack will fail, of course. but il
shows that the sound money cause which
trumphed in 1926 is not yet secure
against the men who asSailed il in that
mcmentOuS conflict. The adoption of the
Teller resolution would of itself amount
to little or nothing. The silver coin now
in existence is as good rs gold. and if it
were used in paying bonds, the holders
of those securities would not lose Il penny
in the transaction. because they know
that the honor of the Nation is pledged
to make and keep every silver dollar the
equal of a dollar in gold. Eut back OF
bond redemption in silver stands the dcS-
pcratc ropuiSt scheme of free coinage,
ard the adoption of the former would be
a signal for the introduction Of the latter.
This is the programme of the bold con
spiracy to which Mr.. Teller has lent his
high ability and influence. and he has
perhaps unt CONSCIOUSLY rendered a Nalua-
bile service To the public by bringing tht
country face To face with its impending
danger.