Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1885-12-10

OF other countries with whom We MAIN
tain Intercourse through commerce,
trade and travel.
An acknowledgment Of this fact is
found in the act BY vir.ue Of which our
silver is compulsorily coined. II pro-
vides that ''the president shall invite the
governments Of the countries composing
the Latin Union so.called and OF such
other European nations as he may deem
il advisable to join the United States in
. conference, 10 adopt . common ratio
between gold and silver for the purpose
Of establishing internationally the use Of
bimetallic money and securing fxity OF
relative value between these metals.
This conference absolutely failed and
q similar fate has awaited all subsequent
efforts in the same direction, and still we
continue our coinage of silver at ratio
different from that Of any other nation.
The most vital part Of the silver coinage
act remains in-operative and unexecuted
and without ally or friend we battle upon
the silver field In an illogical and losing
contest. To give full effect to the design
of congress on this subject, / have made
careful and earnest endeayor since the
adjournment Of the last congress.
To this end delegated gentleman,
well instructed in fiscal science to pro-
ceed to thefinanoial centers Of Europe
and In conjunction with our ministers to
England, France and Germany, to OBJ
tain full knowledge Of the attitude and
intent OF these governments, to the re-
spect of the establishment Of such an
international ratio, as would procurefree
coinage of both metals at the mints Of
both countries and eur own. By my di-
rection, our consul general at Paris, has
given close attention to the proceedings
of the congress OF the latin union Ia order
to indicate our interests in its objects and
report its action.
1t may be said in brief as the result of
these efforts that the attitude of the
leading powers lemains substantially un-
changed since the monetary conference
Of 1881, nor is it to be questioned that
the views of these governments are in
each instance supported by the weight of
public opinion. The steps thus taken
have Therefore only more fully demon
strated the uselessness of further at
tempt at present to arrive at any agree
ment on the subject with other nations.
In the meantime we are accumulating
silver coin, based upon our own peculiar
rates, to such an extent and assuming 80
heavy a burden to be providedfor in any
international negotiations as will render
us an undesirable party to any future
monetary conference of the nations.
| 1t is significant fact that the four ol
| thu r. fra ooftntrfoa he -
union mentioned in our coinage act, en-
barrassed with their silver currency have
just completed an agreement that
no more silver shall be coined by
their respective governments and that
such as has been already coined and in
circulation, shall be redeemed in gold
by the country OF its coinage. The re-
port to this expedient by thesecountries,
may well arrest the attention of those
who suppose that we can succeed with
out 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 on our
present course ID matter OF concern to
every patriotic Citizen who does not de.
sire his government to pay in silver such
of its obligations as should be paid in
gold nor should our condition besuch as
to oblige us In prudent management OF
| our affairs to discontinue calling in and
the payment of interest bearing oblga-
tion which we have the right to dis
charge and thus avoid the payment Of
further interest thereon.
The so-called debtor class for whose
benefit the continued compulsory coin
age of silver is insisted npon, are not dis.
honest because they are in debt and they
should not be suspected Of desire to
| joepa, die the financial safety OF the
country, in order that they may cancel
their present debts by paying the same
\ in deprecated dollars. Nor should it be
| fogotten that it is not the rich nor the
money lender alone that must submit te
such readjustment enforced by the
government and their debtors. The pit.
tance Of the widow and the orphan, and
| the income of helpless benefciaries Of al
! kinds would be disastrously reduced.
The depositors insayings banks and il
other institutions, which held in trus
the savings Of the poor, when their LITTLE
accommodations are scaled down to NEE
, the order Of things, would, in their dis
tress, painfully realize the delusion o
the promise made to them that plentifu
, money would improve their condition
We have now on hand all the silver dol
lars necessary to supply the presen
needs of the people and to satisfy thos'
} who from sentiment wish to see them il
circulation. And if their coinage is sus
pended they can be readily obtained b,
all who desire them. If the need Of NOR
is at any time apparent, their coinag
may be renewed.
I'll That disaster has not already over
taken us, furnishes no proof that DANCE
does not wait upon o continuation o
the present silver coinage. We hay
: been saved by most careful manage
/ ment and unusual expedients and by
) confident expectation that the com
merce Of the government in regard t
! silver coinage would be speedily change,
by the action of congress. Prosperit,
! hesitates upon our threshold because o
i dangers and uncertainties surrounding
J this question.
Capital timidly shrinks from trad
D and investors are unwilling to take th
!, chance Of the questionable shape i
which their money will be returned t
) them, while enterprise halts at risl
: against which care ard sagacious man
= - 4 ~. A