Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1882-07-08

csG1gd in frightenine the timid and winning
large numbers of the laboring classes and
farmers 70 their way Of thinking and have
Temporarily been successful. But what has
been the actual result of their forebodings
ard speculations? Resumption came Il the
appointed time, after due care bed been taken
to provide for it. No shock vas felt; % run
on the Treasury vas made; no comDerce
was injsFed; no working nan Lost an hour Of
lsb0r OF cent Of wages. There vas no DE-
probation of wages. of securities, Of trade.
On the contrary this honest movement on
the part of the Government gave increased
confidence and credit, and the result has been
that our securities have been eagerly taken,
money has been more plenty, labor has been
in demand and business better. In connec-
tiou Providence seemed to smile ON the
movement, gave rs increased crops, increased
exports and led rs into new channels of trade
and industry. The poor Of oil lands, ~ yell
a. many in good circumstances seeing our
increasing prosperity are pouring in and help
ing 10 swell our population and adding their
strength and wealth toward increased pro-
duction and manufscture. An easy money
market has ensbled our railroads to extend
their limits and thus broaden the areas Of
cultiv alton; our capitalists 10 extend build
ings and improvements and TO enlarge our
factories and workshops. At no time has eur
prosperity been more stable and satisfactory,
and with careful management Of our cur
rency and sufficiently strong tarif-provid-
ing no great crop calzmities oceur-we may
be able to continue this prosperity for many
years Now in the face of this come up these
fusionists and arraign the financial policy of
the republican party, assert that it has been
failure and a fraud, and, though undecided
themselves. still harp upon and bemoan the
terrible financial and business havoc their
opponents have made. Is there anything
more absurd and ridiculous-more contrary
to truth and common-sense? Some Of these
unsophisticated fnanciers cry out: I'VE
want plenty Of gold, silver, greenbacks and
treasury certificates issued" Well. gentle
men, you have them, take your choice.
But" they say, I'VE want larger issues of
them, especially the greenbscks. Again we
cay, gentlemen. there il as much issued as
10 wanted. Because you do not get more of
them il is no evidence that there il not
| enough to go round. When you have the
value of one Of these to exchange, or earn
one, you will find one ready, never fear
For the last two years there has been much
more money in the market than could be
made use of. notwithstanding all our prosper
ity and wider means for employing it, hence
| the low interest on our bonds and bills of
cIeult IL uiouey - NOT easy WV uOee not
the capitalist or borrower pay his 8, 10 or Is
per cent on money As formerly? Even now
q two per cent government bond act is pro-
jected in Congress and many argue its sue
cess II passed. Banks, even, are reducing
their circulating capital because the interest
proceeds do not pay them. The laborer
finds no difficulty 10 getting paid in gold,
silver. or greenbacks, as he chooses. Why
then is our financial policy q failure!
So long our financial interests are 40 WISE
| ly managed as now we shall have nothing to
fear from that quarter. But had these schem-
ers and fanatics their way all this wise policy
1.matured by cool and careful hands-would
be mixed up and turned I'd side down, the
money Of the country deprecated and capital
and larbor injured thereby. LET well enough
alone" is as good q maxim to-day as one
hundred or one thousand years ago. And
Honesty is the best policy" also. An honest
Government, sound policy and protection
to industry are or should be the watch v ords
of the American people. E.J.B.