Huntsville gazette., 1891-05-09
PRESIDENT HARRlsoN's VIEWS.
Ills Letter to the Western States Com.
mercial Congress.

In reply to Chairman H. B. Kelly's
invitation Mr.. Harrison expressed his
regret at being unable to attend and
wrote further as follows:
"a public discussion of the conditions
affecting agricultural and business
prosperity cannot but be helpful, if it
is conducted on broad lines, and is hos
pitable to differences of opinion. The
extraordinary developments of produc-
ton of agriculture which has taken
place in a recent period in this country
by reason of the rapid enlargement of
the area of tillage, under the favorable
land laws of the United States, very
naturally has ealleds~attention to the
value, and indeed the necessity, of
larger markets. | am one of those who
believe that a home market is necessa-
rily the best market for the producer,
as it measurably emancipates him, in
proportion to the nearness, from the
exactness of the transportation compa-
MES. 1t the farmer could deliver his
surplus produce to the consumer out of
his farm wagon his independence and
his profits would be larger and surer.
'lt seems to me quite possible to at
tain a largely increased market for our
staple farm products without impairing
home markets by opening the manu-
featuring trades to a competition in
which foreign producers paying lower
scale of wages would have the advan-
tagc. policy that would reduce the
number of our people engaged in me
chanical pursuits or diminish their abil-
ity to purchase food products by reduc
ing wages cannot be helpful to those
now engaged in agriculture. The farm
ers insist that the products have been
too lov-below the point of fair living
and fair profits.
II think SO too, but venture to re-
mind them that the plea they make in
wolves the concession that things may
be too cheap. A coat may be too cheap
as well as corn. The farmer who
claims good living and profits for his
work should concede the same to every
other man and woman who tolls. /
look with great confidence to the COM
pletion of further reciprocal trade ar
rangements. especially with the Central
and South American states, as furnish
ing new and large markets for meats,
breadstuffs and an important line of
manufactured products.
persistent and earnest efforts are
also being made, and a considerable
measure of success has already been
attained to secure the removal of re-
strictions which we have regarded as
unjust upon the admission and use of
our meats and live cattle in some of the
European countries. | look with con-
fdence to a successful termination of
the pending negotiations, because /
cannot but assume that when the abso-
lutely satisfactory character of the san
itary inspections now provided by our
law is made known to these foreign
states that they will promptly relax
their discriminating relations. No ef
fort and none of the powers vested in
the executive will be left unused to Sc
cure an end which is so desirable.
''Your deliberations will probably
also embrace the consideration of the
question of the volume and character
of our currency. 1t will not be posi-
BILE, and would not be appropriate for
me, in this letter, to enter upon any
elaborate discussion of these questions.
One or two things | will say, and first
believe that every person who thought
fully considers the question will agree
with me upon a proposition which is at
the base of all my consideration of the
currency question, namely, that any
dollar, paper or coin, that is issued by
the United States must be made and
kept in its commercial uses as good as
any other dollar. So long as any paper
money issued or authorized by the
United States government is accepted
in commercial use as the equivalent of
the best coined dollar, whether of sill
yer or gold, is assured of an equal
value, in commercial use, there need be
no fear as to an excess of money. The
more such money the better. But, on
the other hand, when any issue of paper
or coined dollars is in buying and selling
rated at less value than other paper or
coined dollars, we have passed the limit
of safe experiment in finance. If we
have dollars of different values only
the poorest will circulate. The farmer
and the laborer, who are not in hourly
touch with the ticker or the telegraph,
will require above all other classes of
our community dollar of fnll value.
Fluctuations and depreciations are
always at the first cost of these classes
of our community. The banker and
the speculator anticipate, discount, and
often profit by such fluctuations. 1t is
very easy under the impulse of excite
ment or the stress of money stringency
to fall into the slough of a deprecated
or irredeemable currency. 1t is a very
painful and slow business to get out
when once in.
Il have always believed, and do now
more than ever believe, in bimetallism
and favor the fullest use of silver in
connection with our currency that is
compatible with the maintenance of
the parity of the gold and silver dollar
in their commercial uses. Nothing in
my Judgment would so much retard the
restoration of the free use Of silver by
the commercial nations of the world as
legislation adopted by US that would
result in placing this country upon a
baSis ~ silver *nnouoneta1lism The