The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1893-08-12

SHOWN ny tine large amounts OF gold which
nave oeen recently drawn from our treas
NY ana exported to increase the financial
strength of foreign nations.
Inc excess of exports of gold over its
imports for the year ending June 80, 1893,
amounted to over SS7, 500 900. Between the
lst Day of July, 1890, and the 18th day
OF July, 1888, the gold coin and bullion in
oan OUT a treasury decreased more than $l32,-
oUV,sWo, while during the same period the
silver coin and bullion in the treasury in
creased snore than Si47,o0o,O00.
Trend of the Purchase Law.
Unless government bonds are to be con-
s1ahtly issued aud sold to replenish our
exhausted gold, only to be again ex-
hausted, 1t is apparent that the operation
or the silver purchase law now in force
leads in the direction of the entire sub
stitution of silver for the gold in the
government treasury, and that this must
be followed by the payment of all govern
ment obligations in deprecated silver.
At this stage gold and silver must part
company and the government must fail in
Its established policy to maintain the two
metals on parity with each other.
Given over to the exclusive use of n cur
rsnex 1s greatly deprecated according to
the standard of the commercial world,
we could no longer claim place
among nations OF the first class.
nor could oiir government claim per-
formance OF its obligation, so far as such
an obligation has been imposed upon it,
to provide for the use of the people the
best and safest money, II rs many of its
friends claim, silver ought to occupy IA
larger place in our currency and the cur
rency of the world through general inter.
national cooperation and agreement.
1t is obvious that the United States will
not be IN position to gain a hearing in
favor OF such an arrangement so long as
tn
accomplish the result single handed.
Why Capital Is Timld.
The knowledge in business circles
among our own people that our govern
ment cannot make it's fiat equivalent to
intrinsic value, nor keep inferior money
on Il parity with superior money by its
own independent efforts has resulted In
such n lack of confidence at home in the
stabllity OF currency values that capital
refuses its aid to new enterprises, while
millions are actually Withdrawn from the
channels OF trade and commerce to lie
Idle and unproductive in the hands of
tlmid owners. Foreign investors equally
alert not only decline to purchase Amer
lean securities but make haste to sacri-
nee nee those which they already
have. 1t does not mend the sit
to the future of our finances is groundless
ana that there is no reason for lack OF
confidence in the purposes or power of the
government in the promises. The very
existence of this apprehension and lack of
confidence, however caused, is a menace
which ought not for moment to be dis
regarded. Possibly if the undertaking
we have in hand were the maintenance
OF specific known quantity of
silver at u parity with gold our ability to
do so might be estimated and ganged and
perhaps, IN view of our unparalleled
growth and resources. might be favorabiy
passed upon. But when our avowed en-
denyor is to maintain snch parity in re-
gard TO an amount Of silver increasing at
the rate of 0,0o0, 900 yearly, with no fixed
termination to such increase, 1T cun hardly
be said that problem is presented whose
solution is free from doubt
The people of the United States arc en-
titled to u sound and stable currency ana
TO money recognized us such on every ex-;
change and in every market of the world.
Their government has no right to iujuro
them by financial experiments opposed
TO the policy. and practice of
other 3. ,.1il CIVILIZED states nor is
exaggerated and unreasonable reliance
on our national strength and ability to
jeopardi1e the Soundness of the peoples
money.
This matter rises above the plane of
party politics.
virtually concerns every business
and calling and svery household in the
land.
An Important Aspect.
There is one important aspect OF the
subject which especially should never be
overlooked. A times like the present
when the evils Of unsound finances
threaten us the speculator may an
the misfortunes of others, the
capitalist may protect himself by
hoarding or may even fnd profit in the
huctuation of values; but the wage
earner-the first to be injured by a depre-
ciated currency and the last to receive
the benefit of its correction.isp practically
defenseless. He relies for work upon the
ventures OF confident and contentsd capt.
tai. This failing him his condition Is
without alleviation, for he can neither
prey on the misfortunes of others nor
hoard his la bor.
One of the greatest statesmen our coun-
try has known, speaking more than fifty
years ago when a derangement OF the cur
rency had caused commercial distress,
said: The very mar of all others
who has the deepest interest in
u sound currency and who suffers
most by mischievous legislation in money
matters, is the man who earns his daily
bread by his daily toll. .
These words are as pertinent now rs ON
the day they were uttered and ought to
impressively remind us that failure in
the discharge of our duty at this time
must especially injnre those OF our coun-
trymen who labor and who because of
their number and condition are entitled
to the most watchful care of their govern
ment.
Relief Should Be Speedy.
1t is of the utmost Importance that such
relief as congress can afford in the exist
Ing situation be afforded at once Tho
maxim lie gives twice who gives quickly
is directly applicable. 1t may be true that
ness of the country is suffering arise as
much from evils apprchended as from
those actually existing. We may hope,
too. that calm councils will prevail
and that neither the capitalists nor tine
wage earners will give way to unreason-
their interests under the influence of ex-
aggerated fears. Nevertheless every
days delay in removing one of the plain
and principal causes of the present state
Of things enlarees the mischief already
done and increases the responsibility Of
the government
Whatever else the people have a right
to expect of congress they may certainly
demand that the legislation condemned
by the ordeal of three years. disastrous
experience shall be removed from the
statute books as soon us their representa-
tiycs can legitimately deal with it.
Financial Legislation Has tn, Floor.
1t was my purpose to summon congress
in special session early in the coming Sep
tember that we might enter promptly
upon the work of tariff reform, which the
true interests of the country clearly de-
lnand, which SO large q majority of the
people, as shown by their sutfrages, de-
sire and expect, and to the accomplish
mcnt of which every effort of the present
administration is pledged. But while
tariff reform has lost nothing of its i'm
met late and permanent Importance and
must in the near future engage the atten-
ton of congress, 1t has seemed to me that
the financial condition OF the country
should at once and before all other sub.
tects be considered by your honorable
body. earnestly recommend the
prompt repeal of the provisions of the act
passed July II, 1890, authorizing the pur-
chase OF silver bullion and that other
legislative action may put beyond NIL
doubt or mistake the intention and the
ability of the government to fill its pecur-
larry obligations in money universally
recognized by all civilized countries
GROVER CLEVELAND.
Executive mansion, August Z, 1898
Denver Is Disappointei.