Evening journal., 1900-10-23

he VIII vote 10 luSldll III power
a free silver party. on the ground
that our monetary system is securely
fixed on a gold basis, might as consis-
tently toss lighted matches about his
establishment, because he occupies what
is known as a fireproof building. To
invite disaster is hardly more wise than
to insure it.
But such declaration. at this time, is
in truth not merely an invitation to dis
aster The specific demand for free sill
yer at 16 to 1 represents the only posi-
tive action proposed by the Kansas City
platform. All the rest is negative. Every
intelligent man should read that docu-
ment carefully, If he has not already
done so. Perusal will verify our asser-
tion.
The business men of this country re-
pudiated free silver in 1896 because it
meant national dishonor-a moral crime
and political disgrace. It cannot mean
less now. Indeed, it means more. II
would be more destructive Of American
prosperity than would be a repeal of the
protective tariff, in favor Of free trade.
Free trade and sound money would be a
welcome sole alternative for protection
and free silver, were 1t possible for us to
be confronted with such a choice of evils.
One would wreck the volume of Ameri-
can industry, but sustain our credit,
while the other would wreck both indus
try and credit. All sound business rests
nrima rilv IN sound rnonav
The opposition TO the present gov
ernment is determined to get rid Of
the gold standard as promptly as possible
in the event of success at the polls. This
is not matter Of conjecture or Of prob
ability. It is a matter Of public declara>
tion and record. And If any man favor
able to sound money proposes to vote
with that party in the belief that the ef-
fort would not be made, he must then
confess himself in the position of voting
with a party which he believes to be dis
loyal to its fundamental principles.
WHAT WOULD HAPPENF
Conflded with the custody Of govern
ment, the repeal Of the gold standard law
could of course be accomplished at once
should Congress be in harmony with the
Administration. The House of Repre-
sentat,ves would unquestionably be so
and by 1903 1t would be possible, If not
actually to wipe out a sound money ma
jority in the Senate, at least to reduce
the apparent majority to one or two
members to work upon for conversion
Even should there be no Executive action
meanwhile. the impending danger would
as in the case of the free trade peril oi
1898 demolish confidence, halt industrial
expansion. and precipitate a condition oi
| fear or panic in the commercial and
| financial worlds. We should have al
least three years of paralyzing anxiety
even should our fears not be realized II
the end. Is this what sane business meI
are willing to insure?
But suppose legislative cooperation
should not be rendered possible? Wha
could the Executive do, in combination
with the Secretary of the Treasury-an'
what would he do, II he we're loyal t
reiterated pledges?
He would declare that all interest o.
the public debt-not specifically payabl
in gold-and all payments by the gov
ernment to its creditors, are properl
payable in silver. as coin" and that tn
government would therefore pay in eithe
gold or silver. as it might prefer. Is
not plain that such threat, with O
without execution, would be a seriou
shock to business? And it would be tn
more serious because Of a comparativel
limited popular understanding of tn
possible scope Of such procedure.
would be followed by a general shrinkas
in enterprise and in the employment
labor.
AN "ENDLEss CHAIN"