Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1893-08-10

world, we could no longer claim q place among
the nations Of the frst-class, nor could our
governmentclaim a performance of its obliga.
tion, so far as such az obligation has been i'm
posed upon 1t. TO provide for the use Of the
people the best and safeet money. II, ssmany
Of its friends claim, silver ought to occupy a
lar ger place in our currency and the currency
OF the world through general international
co-operat Ion and agreement, IL is obvious hat
tho United States will not be in a position to
gain a hearin z In favor ofsuch an arrangement
SO long as we are will ng to continue our at
tempt to accomplish the result. single handed.
The X knowledge in business circles among
our own people that the government cannot
make Its fiat equivalent in Intrinsic value, nor
keep inferior money on a parity with superior
money by its own independent efforts, has re-
suited In such q Ia OK of confidence at home. In
the stability Of currency values that capital
refuses its a i'd to new enterprises. while mil
lions are act ually Withdrawn from the chan.
nels OF tt sde and IN to become idle
and unproductive IN the hands oftimid owners
Foreign investors equally alert. not only de-
cline to purchase American securities, but
make haste to sacrifice those which they
already have. 1t does not meet the situation
S IL ACbolu tut VI
ture of cur finances is groundless and that
there is no reason for lack of confidence In the
purposes or power of the government in the
premises. The very existence OF this appre.
hension and lack of confidence, however
caused is a menace Which ought not for a mo-
meut to be disr egarded, Possibly ifthe under
taking we have III hand were the maintainance
of a specific known q~uaptity OF silver at a par
NV NTH nCl1 49, aAylEF -, a. -. -.-Ia l..
estimated and gagged, and pc rhaps. in view Of
our unparalleled growth and resources, might
be favorably passed upon, Bat when our,
avowed endeavor is to maintain such parity in
regard TO an amount OF silve r increasing at the
rate of s5o,Oo0,00o yearly, with no fixed tenni-
nation 10 such yearly increase, it can hardly
be said that a problem is presented whose
s1lvuon is free from doubt.
The people OF the United States are entitled
to a sound and stable currency and to money
recog nized as such on every Exchange and in
every market OF the world. Their government
has no RICH to injure Them by financial exper-
iments opposed TO the policy and practice of
other civilized states. nor is ii justified in per-
hitting an exaggerated and unreasonable
reliance on our national strength and ability
to ieopaTdiZe the soundness OF the peoples
money. This matter rises above the plane OF
party politics. 1t yitalls concerns every bust
ness calling and enters every household in the
land, There is one important aspect of the
subject which especially should never be over
looked. At times like the present, when the
evils OF unsound finance threaten 1s, the spec
ulator may anticipate a harvest gathered from
the misfortunes of others, the capitalist may
protect himself by boarding or may even find
profit in the fuctuation of values; but the
wage earner-the first to be injured by a de.
preciated currency and the last to receive the
benefit ofits corrections practically defense
less. He relies for work upon the ventures Of
confident and contented capital. This falling
him, his condition is without alienation. for
he can neither prey on the misfortunes of
others nor hoard his labor.
One of the greatest statesmen our country
has known, speaking more than 30 years ago
when a arrangement of the currency had
caused commercial distress, said: 18th very
man ofall others who has the deepest interest
in a sound currency and who suffers by mis-
chevious legislation in monetary matters isthe
man who earns his daily bread by his daily
TOLL"
These words are as pertinent low as on the
day they were uttered, aud ought TO impress.
lively remind us that u failure in the discharge
OF our duty a this time must especially injure
those ofour countrymen who labor and who,
because of their number and condition, are
entitled 10 the most watchful care of their
government.
1t is of the tmosti Importance that such relief
as congress can afford in the existing situation
be afforded ct once. The maxim. "He gives
twice who gives quickly, :" is directly applica-
BILE. II may be true that The endorsements
from which the business of the country 10 suf-
fering arise as much from evils apprehendea
as from those actually existing. We may hope
too, that calm counsels win prevail and that
neither the capitalists nor the wage earners
Will give way to unreasoning panic, and sacri.
hee their property OF their interests under the
influence OF exaggerated fears. Nevertheless
every days delay In removing one of the plain
and principal eau SEES of the present state of
things enl argos the mischief already done and
increases the responsibility Of the government
for ITS existence. Whatever else the people
IA ave a right TO expect from congress, they may
certainly demand that legislation condemned
by the ordeal OF three years disastrous expert.
ence shall be removed from the statute books
as soon AS their representatives can legitimate.
ly deal with It.
1t was my purpose to summon congress in
special session early in the oming September,
tina, we might enter promptly upon the work
e ftar'f reform. which the true interests Of the
country clearly demand. which so large q ma
jority OF the people NJ shown by their SURFACES
desire and expect, and 20 the accomplishment
OF which every effort Of the present admins
tration Is pledged. But while tariff reform has
lost nothing Of its imm diate and permanent
importance, and must in the near future engage
the attention OF congress, It has seemed 20 me
that the financial condition of the county
should at once and before all other subjects to
be considered by yonr honorable body.
Earnestly recommend the prompt repeal OF
the provisions OF the act passed July IA, 1890,
authorizing the purchase o~frilver bullion and
that other Legislative action may put beyond
all doubt or mistake the intention and the
ability OF the government to fulfill fits pecuni.
airy obligations Ia money universally recogni-
zed by all civilized countries.
GROVER CLEVELAND,
Executive Mansion. Aug. z, 1898.
The commissioners o. school and
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