The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-04
SCARED BY THE SILVER BOGY.

Senator Thurston's speech before the
Union League Club. of Baltimore, does not
sound as clear a note on the financial ques-
ton one could wish. The senator's vote
on the Teller resolution seemed to indicate
that he was all right on the main issue, but
his expressions in Baltimore show a sort of
mental reservation and timidity. Respect
ing the financial situation, he said:
We have a congressional situation at
Washington which has caused grave appre-
hension TO the business interests of the
country, but which. in my Judgment, IS not
TO be deplored. 1t is now evident to every
citizen, as 1t was evident to many OF us on
the first day of the Fifty-ffth Congress,
that no financial legislation of any kind can
pass the two houses as at present cOnstl-
tuted. 1t is, therefore, plain that the people
Of the United States are to be permitted to
do business for the next three years WITH
out any possible interference by new legls-
lation with monetary conditions or financial
affairs.
For my part. l am glad the Congress of
the United States is unable to legislate ON
the financial question am in favor of Civ
ing the country a rest from threatened
financial legislation and, in my Judgment
the man who, at the present time, and un-
der existing conditions, seeks to force gold
resolutions through the House OF RepreSen-
tatives is no less politically unWise than the
man who forces a silver resolution through
the Senate. Give the business of the country
without financial agitation or calamity
prophecy and we will have outgrown the
money question altogether.
The Journal respects and admires Senator
Tllurston but it must dissent from these
views. They may be well calculated to pla-
cate the silver sentiment in Nebraska, but
they do not represent the true situation in
the country at large, nor the general well
fare Senator Thurston implies that 1.-THE
situation at Washington which has caused
grave apprehension to the business interests
of the country was fear of financial leg
islation, and he expresses his qualification
that the recent votes on the Teller resolu-
ton have made it clear that mo financial
legislation of any kind can pass the two
houses as now constituted" So far the
business interests of the country are con-
cerned they have expressed themselves very
strongly in favor of currency reform. In
stead of deprecating agitation of that ques-
ton they are trying to promote it. Senator
Thurston regards with satisfaction the
prospect that 1.-The people of the United
States are to be permitted to do business
for the next three years without any inter-
ference by new legislation with monetary
conditions or financial affairs" That is the
very prospect which has aroused the bust
ness interests of the country and energized
a powerful movement to prevent its reali-
cation In view of the fact that the bust
ness men of the country have held two con-
ventions in this city, attended by represen-
tative business men from all parts of the
United States in the interest of currency re-
form and have constituted a permanent ex-
ecutive committee to promote agitation of
the subject, it is somewhat surprising that
Senator Thurston should think that the
prospect of no financial legislation by this
Congress is a pleasing one to the business
interests. Unless the Journal misreads the
signs of the times it will be a very dsap-
pointing prospect and one which the bust
ness interests of the country will do all in
their power to avert. Senator Thurston may
be right in the view that no measure of cur
rency reform can pass both houses of the
present Congress, but he is certainly wrong
in supposing that the business interests of
the country will be satisfied with that out
come. Give this country three years with
out financial agitation or calamity proph-
ecy,'' he says, land we will have out
grown the money question altogether" This
is bad advice. We do not want to out
grow the money question until our none
tary system is settled on solid and perma-
nent basis. with the gold standard distinct
" recognized. We have outgrown and neg
lected the question of currency reform for
twenty-five years past to our enormous cost
and sorrow, and if we neglect it twenty
five years longer it will be at further cost,
and the question will then be more preg-
nant with danger and clamorous for settle
ment than it is now. The Nebraska senator
is evidently scared by the silver bogy.