Los Angeles herald., 1891-04-15
these classes, after a profit to bankers
and commissioners by such fluctua-

rlsOu says.
II have always believed, and do now
more than ever believe in bi-metalism,
and tavor the fullest use of silver in con-
nection with our currency that is COM
patible with the maintenance of the
parity of the gold and the silver dollar
in their commercial uses. Nothing in
my judgment would so much retard our
prosperity as legislation adopted by us
that would result in placing this country
upon basis OF silver mono-metalism.
The legislation adopted by the first ses
sion of the Fifty-First congress, / was
assured by leading advocates of free
coinage, the representatives of the silver
states, would promptly and permanently
bring silver to $1.29 per ounce, and keep
it there. That anticipation has not
been realized. Our larger use of silver
has apparently, and for reasons not
agreed upon, diminished the demand
for silver in China and India.
"In view of the fact that it is impossi-
BILE in this letter to elaborate, and that
propositions only can be stated, am
aware that what have said may be as
sailed in points where it is easily de-
fensible, but where have not attempted
to present argument have not before,
excepting in an official way, expressed
myself on these subjects. But feeling
the interest, dignity and Importance OF
the assemblage in whose behalf you
speak, have ventured without bigotry
OF opinion, without any assumption OF
infallibility, but as an American citizen,
having most earnest desire that every
individual and every public act of my
life shall conduce to the glory of our
country and the prosperity of all our
people, to submit these views for your
consideration.
The president continues by saying he
looks with great confidence to the devel-
! opment of reciprocal trade relations with
Central and South America, and the re-
moval of European restrictions on our
meats and cattle. No effort and none of
| the powers vested in the executive would
be left unused to secure an end which is
| so desirable.
JERRY RUSK'S LETTER.
A letter was also read from j. M. Rusk,
secretary of agriculture. He suggests
| that prominence be given to the discus
sion of those questions affecting the agri-
cultural interests of the country, for the
reason that prosperous agricultural
condition will insure prosperity in all
other branches of industry. He suggests
that the subjects OF transportation, mar
kets, and federal and state statistics, be
discussed as pivotal questions affecting
the farmer.
M. HI. De Young, OF San Francisco,
sent paper on Irrigation.
Senator PETER, of Kansas, wrote,
expressing the hope that the congress
would result in bringing the people OF
the west and south into closer social and
commercial relations.
THE WORLD GOVERNED TOO MUCH.
Charles Francis Adams, of Boston,
wrote that while he recognized the hard
ships of the present situation in the
west, he did not believe any action, ex-
cept individual action, was necessary for
remedy. With the very general
popular idea that the government
is grand paternal-that it will do all
to protect every one and everything, and
provide remedies for every i'll that the
body polite is subject to-Mr. Adams
does not sympathize. 'On the con
trary," says he, 81 am so antiquated in
opinion, as to think that the world is
governed altogether too much, and that
it has rarely been governed so much OF
80 badly, as it has been in this country
within the last twenty five years. Ii
the people are left alone, they will work
out their salvation a great deal quicker
and more satisfactorily than while the
government necessarily encumbers
them with its we'll meant, but ill-ad-
vised, assistance"
Mr.. Adams does not believe that there
is any general business and agricultural
depression, except that due to natural
and temporary causes. He does not
believe any legislation is required. He
thinks improved transportation by land
and water will provide for ITSELF under
the law of supply and demand, if the
government does not continually
meddle with it. Western products
will find market soon enough ii
the government will leave the matter
severely alone. The great trouble with
the currency is excessive tinkering, and
if the government will leave it alone, the
internal currency of the country will
regulate itself just as perfectly as inter
national currency does. The manufac-
turing interests of the country have
always been successfully promoted by
individuals when the government has
left them alone and every interference OF
the government, from the beginning to
the Mckinley bill, has been det-
rimental to the public interest. The
irrigation of arid lands is settling
itself in Idaho and Colorado and other
states where the government leaves it
alone. The fewer commercial laws we
have the better, and if there were no
commercial laws, the community would
be far more prosperous than it is. The
interference of the government with i'm
migration has been uniformly mis-
chievous. Business combinations and
trusts are dangerous to those inside
them, and if left alone by
the government will work nothing but
good unless perverted to some pur-
pose opposed TO the laws Of trade, in
which case they will inevitably, sooner
or later, bring about the ruin of those
concerned in them. The Indian ques-
tion and the opening of Indian lands
has been brought into its present un-
fortunate condition by government in
reference, and he knows of no way of
getting out Of the snarl.
PAPERS ON TRUSTS
H. X. Thurber, of New York, writing
on business combinations and trusts,
said they were caused by sharp compe-
tition. Their effects were beneficial to
the producer and consumer. The ag-
gregation of capital, skill and expert