The study used a descriptive-qualitative method in analyzing editorial cartoons of Kompas and Republika newspapers depicting the 1997-1998 Indonesian monetary crisis. It is aimed at interpreting and elaborating the representation of the newspapers' ideology by utilizing Kress and Van Leeuwen's theory of visual grammar (2006). The result displays various visual representations of an editorial cartoon of the newspapers in illustrating the monetary crisis in Indonesia. Both newspapers' cartoons' narrative and conceptual structure represent different ideology between the newspapers. Through the cartoons, Kompas expresses critiques towards the Indonesian government, particularly of IMF intervention on Indonesian's economy. Conversely, Republika tends to side with the government, supporting the IMF assistance program to recover Indonesian's economic crisis. Moreover, the result shows that the difference between both newspapers' ideology does not only relate to the newspaper's difference in visual representation, but also to the newspapers' social relationships with influential people within Soeharto's New Order regime.