The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-09-16

In the United States and Great Britain the
standard unit OF length is the yard, and
| in France the metre; OF mass IL IL respec-
lively the pound avoirdupols and the kilo-
| gram. The universal unit OF time Is the
second. II, then, Legislation Ia needed to
make the unit Of value "the standard and
measure OF value, 1t is no less needed In the
cases OF the units OF length, mass and time.
II 1t Ia necessary, the unit, which Is the
standard OF measurement in all science, has
no certain or fixed value, and science
Is now all at sea 30 far as II Is concerned.
All this Is elementary. but assertions such
as that OF the Outlook show that II needs to
be repeated for the instruction OF news
papers which assume TO teach the public
IT, says the Outlook the unit OF value
is made also "the standard and measure" OF
value by Legislation OF Congress, though 1t
is already such by the common consent Of
the world, "a law will be upon our statute
hooks which cannot be repealed unless Con-
gress is changed by the voters" But
neither can the existing law, making the
gold dollar OF 25.s grains the standard OF
value be repealed in any other way, and
in that way law passed in 1899 could he
itptultu JuoD ub tdShf dS Coutu bho law VI
1873, already In the statutes.
1t is because the gold dollar is the unit or
standard Of value that the agitation for the
repeal Of the act OF 1873 was made in
1895. II there had been any doubt on the
subject tho Chicago platform would not
have been framed. The Democratic party
in / 500 did not pretend that there was any
such doubt, but denounced the law because
it made gold the single standard and
demonetized silver. 1t makes no such pre-
tence now, but accepts the incontrovertibe
fact that gold is the existing sole standard,
and it will renew in 1900 its effort to get
popular judgment for the free coinage OF
silver at 10 to ].
The Democratic party knows that the law
"cannot he repealed unless Congress is
changed by the voters" and free-silver
President elected to succeed Mr. MCKINLEY.
That, consequently, is the very end for
which it will work next year. II it elects
BRYAN, 1t will also elect free-slver major
ity in the House OF Representatives and
then the only obstacle in the way OF its
accomplishing its purpose Of displacing the
single gold standard and introducing the
free coinage Of silver at 10 to 1 will be a
bare Republican majority In the Senate,
with the chances Of overcoming 1t by Exec
utive pressure and because OF chances and
contingencies in its favor.
That is the only element Of doubt in the
situation, the success Of the Democratic
party at the election in 1900. Strange as
it may seem" says the Outlook, ito many
the legal existence OF the single gold STAN
Il o,J to OF tfr,l acaarftnp +" bit
actually there is no such doubt in any in
telligent quarter. II there was any. would
the per cent. coin bonds Of the Govern
ment be selling, as they are now selling.
at 1870, the per cents at 1OS. and the .
per cents at par?
A religious paper. OF all others, should be
scrupulously regardful OF the truth, and
when it ventures into the secular field OF
finance it should be careful to inform itself
accurately before undertaking to give
instruction on it and pass judgment upon
it. II the assertion OF the Outlook that there
is still doubt in many minds as to 1.-The
legal existence OF the single gold standard"
was true or had justification in fact, the
whole business and financial community
would now be in distress, confidence would
Dc gone, anu inSIeau ol prosperity "eshouiu
be experiencing depression. Actually, the
prices OF Government bonds, as already
mentioned, show that there is no such doubt.
Nor will the doubt arise hereafter unless
the Democratic party is successful in 1900,
or great fear Of such catastrophe enters
into the business and financial world. The
existing confidence is due to confidence In
the triumph OF the Republican party the
party OF the gold standard.