Omaha daily bee., 1899-09-30
REpnRLLcAN OPPORTUNITY.

The Philadelphia Record, sound
money democratic paper, says there is
no doubt of the peril to public finances
and credit In the absence of remedial
Legislation by congress. 1t refers to the
threat of Mr.. Bryan that IL president he
would appoint secretary OF the treas
ury with instructions to pay the public
creditors In silver or gold at the option
of the government and observes that the
first exercise of this government option
in favor of deprecated silver would
precipitate n financial catastrophe and
make superluous any legislation for
free coinage at 16 TO 1. "Even if the
United States supreme court" says the
Record, SHOULD hold that under the
provision of law requiring the govern
ment to maintain the parity of gold
and silver it is necessary to redeem the
public obligations in gold the decision
would be too late to avert the calamity
of depreciation, repudiation and ruin"
1t Is urged that the republicans in the
next session of congress should prevent
this danger by an amendment substi-
tuting gold" for "coin" wherever the
latter word appears in the laws, thus
putting it out of the power of any sill
verte secretary of the treasury to at
the public credit.
1t is pretty we'll assured that the
Fifty-sixth congress will enact legisla-
tion unequivocally establishing the gold
standard. The demand for this has
come from every republican convention
Of the year and there can be no rea-
sonable doubt that the great majority of
republicans favor such legislation.
There are some who contend that it is
unnecessary, on the ground that we
have the gold standard and it is al
ready sufficiently safeguarded by law.
AS matter of fact our actual money
standard has been gold for sixty-five
years, but it remains true that a presi-
dent of the United States, by a simple
administrative act, without any legisla-
ton whatever, could overturn the
standard of two generations and send
us to silver basis. The existence Of
this executive power causes doubt as to
the stability of the standard and it is
necessary to the firm establishment of
financial confidence that this doubt be
removed.
A declaration by congress that all the
obligations of the government are pay
able in gold would seem to be sufficient,
but Io harm would be done by substi-
tuting "gold" for "coin" wherever the
latter word appears in the laws. This
would leave no room for any possible
question regarding the money in which
the obligations of the government are
payable. The government has paid it's
in gold or its equivalent ever
since the resumption of specie pay
ments and there appears TO be no valid
reason why the word "coin" should be
retained. Dropping it would not de-
prive creditor of the government of
the privilege of asking payment in
other money than gold.
There is plain and straightforward
way of dealing with this question of the
which the republican congress
should adopt without hesitation and if
it shall adopt it there can be no doubt
that it will have the approval and en-
dorsement of the country. 1t is an op-
portunity which the party that has
steadfastly maintained the integrity and
credit of the nation cannot afford, In
our judgment, to let pass.