Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1876-08-16

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made no advances toward resumption
no preparation for resumption, but in
stead has obstructcd resumption by
wasting our resources and exhausting
all our surplus income, and while pro
Tossing to intend to bring speedy rc
turn to specie payments has annually
enacted fresh hindrances thereto, and
having first denounced the barrcnness
of tho promise of a day OF resumption
1t then demands its repeal and also
demands the establishment of q judi
cious system ofprcparation for rcsump-
tion. II cannot be doubted that the
substitution of a system Of preparation
without the promise of day, for the
worthless promise of day without q
system Of preparation, would be the
gain OF the substance Of resumption in
exchange for its shadow. Nor Is the
denunciation unmcrited of that improv-
idencc which in the eleven years since
the peace has consumed "a, 500, 600, 900,
and yet could not afford to give the
people sound and stable currency.
Two and half per cent. on the ex-
penditure of these eleven years, on
even less, would have provided all the
additional coin needful to resumption,
and relief TO business distress. The
distress now felt by the people in all
their business and industries, though il
has its principal cause in the enormous
waste Of capital occasioned by the false
policies Of our Government, has been
greatly aggravated by the mismanage-
ment OF the currency. Uncertainty is
the prolific parent of mischief in all
business, Never were its evils more
felt than now. Men do nothing be-
cause they are unable to make any
calculations on which they can safely
rely. They undertake nothing because
they fear a loss in everything they
would attempt. They stop and wait
The merchant does not buy for the
future consumption of his customers /;
the manufacturer dare not make facili-
ties which may not refund his outlay,
he shuts his factory and discharges his
workmen capitalists cannot lend on
security they consider safe and their
funds lie almost without interest men
of enterprise who have credit or Sc
curities to pledge will not borrow.
Consumption has fallen below the nat
ural limits of reasonable economy.
The prices of many things are under
their range in frugal, specie-paying
times, before the civil war. Vast
masses of currency lie in the banks un.
used. A year and half ago the legal
tenders were at their largest volume,
and the twelve millions since retired
have been replaced by fresh issues of
fifteen millions of bank notes. In the
meantime the banks have been sur
rendering about four millions month
because they cannot find a profitable
use for so many of their notes. The
public mind will no longer accept
shams; it has suffered enough from H.
lusions. An insecure policy increases
distrust. An unstable policy increases
uncertainty. The people need to know
that the Government is moving in the
direction OF ultimate safety and pros
perity, and that it is doing so through
prudent, safe and conservative meth
DDS, which will be sure to inflict no new
sacrifice on the business Of the country.
Then the inspiration of new hope and
well founded confidence will hasten
the restorative processes Of the nation,
and prosperity will begin to return
The st. Louis Convention concludes
its expression in regard to the currency
by a declaration Of its conviction as to
the practical results of the system of
prcparationsit demands. 1t says: 1--WE
believe such system well devised and
above all intrusted to competent hands
for execution, creating at no time an
artificial scarcity of currency and at no
time alarming the public mind into a
withdrawal Of that vaster machinery
of credit by which ninety-fivc per cent.
Of all business transactions are per.
formed, system open, public and In
spring general confidence, would, from
the day of its adoption, bring healing
on its wings TO all our harassed indus
tries, set in motion the wheels Of COM
mcrce, manufacturing and the mcchan-
ic arts, restore employment TO labor
and renew in all its natural sources the
prosperity of the people" The Gov
ernment of the United States, in my
opinion, can advance 10 q resumption
OF specie payments on its legal tender
notes by gradual and safe processes
tending to relieve the present business
distress. If charged by the people with
the administration Of the Executive
office, should deem il a duty so 10
exercise the powers with which It has
been or may be invested by Congress
as best and soonest to conduct the
country TO that beneficial result,
CIVIL SERVICE REFORM.
The Convention Justly afirms that
reform is necessary in the civil service
necessary to its publication, necessary
to its economy and its efficiency, neces.
sary in order that the ordinary en-.
ployment of the public business may
not be a prize fought for at the ballot
box, brief reward of party zeal in.
proyed competency and held for fidelity
! In tho public employ. The Convention
wisely added that reform is necessary
even moro in the higher grades OF the
public service. President Vice Presi
i dent Judges Senators REPRESENTATIVES
Cabinet Officers. these and all Others
in authority are tho peoplc's servants
their officers arc moi n nrivate reouis.
ite tbey are A public trust. Two evils
infest the official service Of the Federal