New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-21
CTRRENCY tGITATION.

Another convention at the West has renewed
the agitation of the currency question. with
some excellent speeches and papers on the sound
money side II one asks why these efforts ap-
pear to Impress public opinion so little. per-
haps as good an answer as can he wished is
suggested by the statement in a London letter
Of August IL TO "The Financial Chronicle"
Everybody recognizes that the whole situation
'is much improved in the United States that
"the fears respecting the currency may now ne
dismissed. and that consequently n long period
"of prosperity may be looked for" Other tcst
mony Is by no means lacking to confirm this
report OF European opinion: indeed as the same
record states. II Is fully confirmed by the ex-
tensive buying Of American securities "for the
FIRST time the City actively participates. and
"there are signs that the general public is like
"wise beginning To buy" If this Is the state Of
mind in the one foreign country where dstrust
Of American currency has been most carefully
fostered. and where hostility TO any silver inter
est Is strongest. what may reasonably be the
Judgment of Americans who know how de-
cisive was the result in the Presidential cleo
ZION?
II Is the truth that in this country even more
than abroad fears about the currency have been
dismissed. Most men dismissed them when they
saw the results OF the freSluenllHI eectlOn III
Western States which had been doubtful
Others who still doubted then were presently
convinced completely by the rapid and decisive
change in monetary conditions when the new
tariff began to have influence. The wonderful
improvement in business. the strength Of the
Treasury and the banks. the enormous mer
chandse balances in favor Of this country. and
the imports Of gold the extensive change in the
condition, employment and wages Of labor. and
the enrichment Of the South and West by great
crops. all have contributed powerfully to remove
both the apprehension Of disturbance to the
country through any financial revulslon, and
the fear that the ignorant desire for more
money and cheap money will prove greater in
other elections than 1t was In 1896 Financial
fears have been dismissed. and the country has
shown that 1t Is both able and ready to meet
political agitation for unseund money whenever
II gets strong enough TO require attention.
In this state Of mind the public Is not pre-
pared to take profound interest In a
currency agitation which chooses for It's
basis the supposition that the existing monetary
system is source Of peril. 1t is simply the plain
truth that the great majority of people have
attributed their losses and sufferings In recent
years to a different cause. the refusal Of
adequate protection for American industries, and
have hailed with satisfaction the swift and
splendid recovery which shows how correct was
that judgment What may be wisely done 10
render the monetary system more wholesome in
its operation and stronger to meet any future
emergency, they are at any proper time ready
to consider. But they have little sympathy with
the agitation which starts BY declaring that the
confidence which now prevails has no solid