River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1885-12-10

sign OF congress on this subject have msds
careful and earnest endeavor since the a.
tournament of the last congress. To this enc
! delegated a gentleman well Instructed Ia
fiscal science to proceed to the financial CEN
tiers of Europe and in conjunction with our
ministers TO England, France and Germany
10 obtain full knowledge of the attitude
aud intent of these governments I'm res pect to
tie establishment Of such an international
ratio as would procure free coinage Of both
metals at the mil "a of those countries and
our own. BY my direction our consul general
nj Paris has given close attention to the pro-
ceedings of the congress of the Latin Union
in order to indicate our interest in its
object, and report its action.
II may be said in brief,
as the result OF these efforts. that the attitude
of the leading powers remains substantially
unchanged since the monetary conference Of
1881, nor is TO be questioned that the views OF
these governments are for instance sup
ported by the weight OF public
opinion. The views thus taken have, there
fore, only more fully demonstrated the use
leseuess OF further attempts at present to
arrive al any argument on the subject with
other nations. In the meantime
WE ARE ACCOMPLISHING SILVER COIN,
based upon our own peculiar ratio, to such
an extent and assuming so heavy q burden TO
be provided for In any international negotia-
tious, as will render us an undesirable party
TO any future monetary conference of ma
tons.
countries composing the Latin union mem
toned In our coinage act, embarrassed with
their silver currency have just completed an
agreement among themselves that no more
silver shall be coined by their respective gov
ernments, and that such as mas been already
coined and in circulation shall be redeemed
In gold by the country Of its coinage. The
resort to this eXpedient by these countries
may well arrest the attention OF those who
supposed that we can succeed without shock
or injury in the attempt to circulate upon its
merits all the silver we may coin under
the provisions Of our silver coinage act.
The condition in which our treasury may be
placed by persistence in our present course
is
MATTER OF CONCERN
to every patriotic citizen who does not desire
his government TO pay in silver such of ftS
obligations as should be paid in gold. Nor
should our condition be such as TO oblige us,
in prudent management of our affairs, to
discontinue the calling in and payment of in
terest-bearing obligations which we have the
right now to discharge ana thus avoid the
payment of further interest thereon
The so-called debtor class, for
whose benefit the continued compulsory
coinage of silver is insisted upon, are not dis
honest. because they are in debt and they
should not be suspected Of desire TO jeop-
ardizs the financial safety of the country IN
order that they may cancel their present
debts by paying the same in deprecated dol
lars, nor should it be forgotten that ii is not
the rich nor the money-ender alone that
must submit TO SUCH reimbursement, forced
by the government and their debtors. The
pittance Of
THE WIDOW AND THE ORPHAN
aud the incomes Of helpless benehciaries Of
all kinds would be dsastrOusly reduced. The
depositors in savings banks and in other
institutions which held in trust the savings
Of the poor, when their little Accommodations
are scaled down TO meet the new order OK
things, would in th ir distress painfully real
ize the delusion of the promise made TO them,
that plentiful money would improve their
condition. We have now on hand all the sll-
yer dollars necessary to supply the present
needs of the people and TO satisfy those who
from sentiment wish to see them in circula-
ton, and If their coinage is suspended they
can be readily obtained by ali VINO desire
them, If the need OF more is at any time APP
parent their coinage may be renewed.
That disaster has not already overtaken Us
furnishes no proof that danger does not wait
upon continuation Of the present silver
coinage. We have heen saved by
THE MOST CAREFUL MANAGEMENT
and unusual expedents by q combination OF
fortunate conditions and by confident ex-
pectatiOn that the commerce OF the govern
ment in regard to silver coinage would be
speedily changed by action of congress. Pros
perity heStates upon our threshold because
of the dangers and uncertainties surrounding
this question. Capital tuidly shr1nks from
trade and Investors are unwilling to take the
cnance OF tue QuSsliOudDi6 shdpo AZ NuiSA
their money viii be returned to
them, while enterprise halts at a risk
against which care and sagacious manage
menJ DO not protect. As necessary conse-
oueuce labor lacks empioymenLand suffering
and distress are visited upon portion of our
fellow citizens especially entitled to the care
full consideration of those charged with the
duties of legislation. No interest appeals to
us more strongly for safe and stable cur
rency than the army of the employed. l rec
nyHt
coinage of silver dollars, directed by the law
passed in February, 1878.