New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-26
NO WORSE THAN FREE SILVER.

In irving TO SOOthe the fears OF us
turbance TO business interests arouSeu
bv Presidential candidate who, When
he gets away from sections where pro-
tected industry is firmly established
saws that protection is a wrong ana an
injury to every man, woman ana chiIu
in the United States, "The New YORK
Times drew a parallel yesterday
which must have given it's readers 1000
for anxious thought. 1t asked them
not to heed talk about "the agitation
"the disturbance the uncertainty
that will ensue if the Democrats are
turned loose in Washington" 1t says
it is not worried by such talk, any
more than 1t was worried in 1896 by
talk about the shock to credit and In
dustry which would follow the election
Of Mr.. Bryan and the opening Of the
American minis to the free coinage OF
5O-cent silver dollars. This is the way
1.-THE Times" put it:
In the dark summer Of 1895, when
wall street shivered with dread OF
Mr.. BRYAN and "The Times was OPP
posing his election with all earnest
ness. we never doubted that the Re
public would survive such an election
B and deal sanely in the long run win
the problems II would raise. NO great
partv Of American voters is going 10
min the nation, and only a blind
scared partisan would think that II 49,
According to this argument the
great party of American voters
which would have elected Mr.. Bryan,
if he had been elected, would probably
have done nothing to frigbten any
body but blind, scared partisan.
Because they were in majority, or
I'm plurality. in the nation they would
probably have dealt sanely with the
free silver coinage issue, even if they
had decided to put the United states
Oh q fat money basis.
The Tribune would not have de-
SPARED Of the Republic if Mr.. Bryan
had been successful in 1896. But it
was never able TO view with cOmpla-
cency the threat Of 4 debased currency
and a dishonored national credit then
involved in Democratic success. We
should have considered the reOpening
Of the minis TO free silver coinage as
a tremendous disaster, even If they
had been opened by "a great party OF
American voters" actuated by econOm-
ic hysteria and not deliberately in
tending 10 ruin the country. The act
ual effect of the specific policies Of q
successful party must be considered
first, no matter what may be the be-
nevolence Of It's general intentions.
The parallel which "The Tines
draws between 1896 and 1912 is, how
ever, pertinent and useful. The Demo
cratic party has again pledged itself
10 upset one Of the bases on which
business and industry rest, and in the
event of Democratic success this year
the only question would be how far
Congress and the Executive would go
in carrying out the work Of violent re-
adjustment Those who can believe
that free silver coinage was not so
greatly to be dreaded in 1896 may
easily persuade themselves that root
ing protection out Of the tariff SEIZED
ules would do little harm now. But
the majority Of the voters are not so
full of airy optimism. They will think
twice before they concede that vic
tory for Wilson is a matter Of indiffer-
ence because it wouldn't cause any
more damage than a victory for Bryan
would have caused in 1896.