The Republican. [volume] (Oakland, Md.) 1877-current, 1898-10-27


What would be the consequence of
a democratic majority in the House
of Representatives in the Fifty sixth
Congress? That is the great question
which must be faced by the voters in
determining whether they will vote
for democratic or Republican candi-
dates for Congress next month, says
the Baltimore Ne1CS.
But is there a shadow of doubt
that the very first consequence of
such a majority would be the abso-
lutte killing of all possibility of legis-
lation to settle the currency ques-
ton, Is there human being in the
country who would venture to assert
that, with the democratic party in
control of the House, there would be
even a ghost of a chance for such
legislation?
And without such legislation,
where does the country's monetary
system stand? Exactly where it has
stood during the past twenty years
of silver agitation. 1t is just as open
to attack, just as liable to sudden
danger, as it was during the four
years Of bitter experience following
the panic of 1893. The trouble with
it now is just what the trouble with
it was when the cOuntry's financial
stability had to be protected against
assault by the unwavering and hero
| ic frmness of Grover Cleveland; Just
what the trouble with it was when,
| during the campaign of 1896, we lived
| for months with the free silver cloud
hanging over us, threatening to work
disastrous revolution, and kept
! from doing so only by the defeat of
| the democratic candidate for Presi-
dent and of a large majority of the
democratic candidates for Congress.
What is the nature of that trouble?
1t is that the law makes no express
provision for the maintenance of the
gold standard. Owing in part to the
| spirit of compromise, in part to the
unfortunate composition of the Sen
| ate, with it's misrepresentation of
| the silver region of the far West,
| every effort to end this anomalous
condition of affairs has thus far
failed. The maintenance of the
sOundness of the currency of this
great country-and with it the ma
terial welfare of it's seventy million
inhabitants-is still left unassured
by the law of the land; it is still de-
pendent upon the disposition OF an
administrative officer. Were Presi-
dent elected who was favorable to
free silver, his Secretary of the
Treasury could, without violation of
law, upset in five minutes that policy
which, pursued thus far by every
Secretary of the Treasury since the
resumption of specie payments, has
kept all our money as good as gold
The danger Of such an upset did
not become imminent until 1896 1t
was then, for the first time, that one
OF the historic political parties of the
country deliberately adopted the
purpose of making this financial
revolution, adopted it as the leading
issue of its contest, and made its
fight almost wholly upon that issue.
Not only was it beaten upon this is
sue, but many circumstances have
since conspired to shove it into the
background. Among these the chief
has been the extraordinarily profit
able harvest of last year. accompan-
led as it was by an unprecedented
influx of gold into the country, which
gave the Treasury abundant strength.
But nothing could be more short
sighted than reliance ON a continu-
ance of these conditions. Were we
not in the best possible condition in
1892, and yet was not the country
plunged into the direst straits the
very next year?
To guard against a repetition in
1900 of the terrible experience of 1896,
it is necessary that positive legisla-
ton be enacted by the Congress
about to be elected. 1t is necessary
that the currency of the country be
left no longer so exposed that the
first adverse wind shall blow down
the whole structure. There is now
the best of reason to expect next year
a republican majority in the Senate;
with this and republican majority
in the House, legislation for the firm
establishment of sound currency
can be looked for with confidence.
With a democratic House, it is super
fluous to insist that such legislation
would be out of the question To