Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-08-09

8ation, 20 Mr as such an obilGati0n bas
!. been imposed upon II to provide for the
use Of the people the best and safest
money.
II, ~ many of tts friends olains. silver
ought 10 occupy larger pasce ip our our
rency and the currency OF the world
through general international cooperation
and agreement IL IL obvious that the United
States will not be In Q position to gain q
hearing In favor Of such an arrangement
80 long A. We are willing to continue our
attempt TO accomplish the result single
handed.
The knowledge In business dreles among
our owp people that our government can
not make its fat equivalent 20 intrinsic
value, nor keep infefief m1dey on parity
with superior money b1 III o&n tndepend-
ent efforts has resulted n
Such Lack Of Conndenos
at home In the stability Of currency val
ues that capital refuses - aid 10 new en-.
terprises while milub6h sre actually
withdrawn from the channels cf trade and
commerce to become idle and unproduc.
tive In the hands OF uDid owners
Foreign investors equally alert, not only
decline to purchase American securities,
but make haste to sacrifice those which
they already have
II does not meet the situation to say
that apprehension 10 regard TO the future
Of our finances 10 groundlsss, snd that
there Is no reason for lack Of confidence In
the purposes or power Of the government
In the premises
The very existence ssf this apprehension
and lack of confidence. however caused, Is
Q menace which ought not for . moment
20 be disregarded.
Possibly n tue undertaking we have In
hand were the maintenance Of q specific
known quantity OF silver az the parity With
gold. our ability to do 80 might be esti-
mated and gaused. and, perhaps, In view
Of our unparalleled growth and resources,
might be favorsbly passed upon. But
when our avowed endsavos 10 TO maintain
such parity In regard 10 40 amount Of Al-
yer increasing at the rate OF 81, 900
yearly, with no fixed termination TO such
increase. It can hardly be said thss prob
lem Il presented whose solution Is free
from doubt
The people Of the United States are en-
titled to a sound and stable currency and
to money recognised as such on every ex-
change and In every market Of the world.
Their governments has no right 10 tnlurs
them by financial experiments opposed 10
the policy and practice Of other eivilised
states, nor is it justified ip permitting an
our national strength and ability 70 jeop-
ardize the soundness Of the peoples money.
This matter rises above the
Plane os Party Politics
II vitality oonoelhs every busincss and
calling and enters every housebold In the
land There IL one importspt aspect Of the
subject which especially Should nevef be
overlooked.
At times like the present. when the wills
Of unsound finances threaten u, ,the specu-
lator may anticipate hafvsss gsthered
from the misfortune Of oehers, the ospi-
talist may protect hipiselS By boarding or
may even fpd prodt 10 the duukuation Of
values; but the wage earnsr-the first 70
b. injured by deprecated currency and
chs last to receive the benefit Of It's oorreo-
tion-is practically detcooelesA He relies
for work upon tho ventures OF confdent
and oontepted capitsl This failing him,
bis condition 10 without sllevtaUton, for he
can neither prey 90 the misfortunes Of
others nor hoard his labor.
One OF tho greatest statesnaea our ooup,
TRY has known, speaking A9U than 20
years ago, when dsrAugel1eps a the
currency had caused commsroaal distress,
aaids ''The very man of all others who has
the deepest interest 10 . sound ourreaoy
and who suffers most by pischievous
legislation In money mAtteSs, II the man
who earns his daily bread by his daily
toll"
These words are a. pertinent now a. on
the day they were uttered, and ought to
impressively remind d that failure in
the discharge of our duty st this time
must especially injure those OF our coun-
trymen who labor, and who because Of
their number and condition are entitled
to the most
watchful Care Of Their Government
1t is of the utmost importance that such
relief as congress can afford Ia the exist
ing situation be afforded At once The
maxim, "He gives twice who gives
quickly" 10 directly applicable. It may be
true that the embarrassment from which
the business Of the country is suffering
arise as much from evils apprehended as
from those actually existing.
We may hope, too, that calm counsels
will prevail and that neither the capital
lists nor the wage earners will give way to
unreasoning panic and sacrifice their prop
srty or their interests under the influence
Of exaggerated feara Nevertheless, every
days delay In removing one Of the plain
and principal causes OF the present state Of
things enlarges the mischief slresdy done
pnd increases the responsibility Of the gov
srnment for Its existence. Whatever else
the people have right to expect from con-
gress they may certainly demand that leg
islation condemned by the ordeal Of three
years. disastrous experience shall be re-
moved from the statue books as soon a.
their representatives can legitimately deal
with it.
1t was my purpose 70 summon congress
In special session early IN tbe coming Sep
tembey, that we mighs enter promptly
Upon the Wort Of TayihR Reform,
which the true interests Of the country
clearly demand, which - large majority
of the people, as shown by theif suffrages.
desire aud expect, and 70 The accomplish
ment Of which every effort OF the present
administration Is pledged But while
tariff reform has Lost nothing of its i'm
mediate and permanent importance, and
must, In the near future engage the ae
tentiou Of congress, 10 has seemed to me
that the financial copdition Of the country
should at onos and before all subjects be
considered BY your hoporable body.
I earnestly recommend the prompt re-
peal OF the provisions Of the act passed
July IA, 1880, authofisina the purchase Of
silver bullion, and thaS Other legislative
action may put beyond ell Doubt E ME
take the intention and the ability of the
government TO ful6l lee peclsnisry obliaa-
tions In the money universally recognized
bN all oivilixed cotfntyiea