The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1904-08-10
WHAT ONE MAN SAYS.

WHAT ONE MAN SAYS.
To quote one of the finaneiers Of New
York, Judge Parker is all right him.
self, although in my view he Is not TO
be compared with Olney or with Cor
man, but when I think of what was
represented at St. Louis and of Bryan's
unquestionable triumph with the plat
form cannot help feeling that we are
not yet out of the woods and will not
be until all political parties are pledged
to the maintenance of the gold sta2d-
ard
1t would be impossible to go into the
Directors room or private Office of any
of the institutions in New York where
finance is a practical vocation and is
understood to its most delicate detail
| without hearing comments of this kind
namely: That there yet remains much
| to be done before we can feel that Judge
| Parker was correct in saying that the
gold standard is frrevocably establish
| ed. There must be larger Accommodations
of gold and there should be a specific
declaration that the legal tender silver
| dollars may be exchanged for gold.
That they are exchangable now for gold
| is unquestioned, and the Secretary of
the Treasury is by law directed to keep
all of this money at a parity with gold.
In normal times in business and finan-
cial conditions unfnterfered with the
basis of gold is sufficient upon which to
support the entire fabric of our cur
rency. But if there should come a time
| of panic, if any Congress, Democratic
or Republican, should even agitate in
| favor of a change in the system we
should undoubtedly see men of wealth,
| &c
wealthy Democrats like Governor Til
den buying foreign exchange, convert
ing their funds into gold and then with
drawing that gold from the market.
MUST FACE THE TROUBLE.
That is the difficulty which the man
ayers of Judge Parker's campaign will
be compelled to face in this city. There
is the recollection of the fact that al
though President Cleveland strenuously
maintained his convictions, and even
went so far as to compel Congress to
repeal the so-called Sherman law,
nevertheless, the years of his admins
tration We're years of soup kitchens,
business stagnation, money famine and
repeated purchases of gold to replenish
the supply in the Treasury Department.
So it is asked, Would Judge Parker,
if elected, be more powerful to prevent
disastrous timidity, the shivering of
credit, than President Cleveland was
able to do? Even those who profess to
! admire the moral courage of Judge Par
ker are accustomed to say that it may
! be compared with the like quality which
distinguished President Cleveland
} President Cleveland's courage did nc
more than to prevent an absolute lapse
; to the silver standard. These COM
ments are reported, not by way of ar
} gument, but as the current news, the
; common comment that is now prevail
: ing in financial circles in this city.
! 1t will be one of the chief problems OF
: Judge Parker's campaign to persuade
! that great body of conservative men
the so-called gold Democrats, that they
have no reason for apprehension by rea-
: son of the silence of the Democratic
platform upon the currency issue. Il
they can so persuade them, then New
York may possibly be justi1ably claimed
by the Democracy as a doubtful state
giving that party reasonable hope fol
success. That claim would not be adj
) mitted by the Republicans, for they
believe that upon the tariff issue alone
Roosevelt will carry New York.
HOLLAND. .