Weekly graphic. [volume] (Kirksville, Adair Co., Missouri) 1880-1949, 1893-08-11

alive Eat1oDS to add 1t to their
stock. That the opportunity we
have offered has not been neglect
ed is shown by the large amounts
of gold which have been recently
drawn from our Treasury and ex-
ported to increase the financial
stre myth of foreign nations.
The excess of exports of gold
oyer its imports for the year end
ing June 30, 1898. amounted to
more than S87, 100000. Between
July l, 1890 and July Is, 1893, the
gold coin and bullion in our Treas
ury decreased more than Sl32.-
000,000 while during the same pc
liod, the silver coin and bullion in
the Treasury increased more than
Sl47,000,0l0.
Unless Government bonds are
to be constantly issued and sold to
replenish our exhausted gold only
to be again exhausted, it is eppar-
ant that the operation of the sll-
YER purchase law low in force
leads in the direction OF the entire
substitution of silver for the gold
IN the Government Treasury, and
that this must be followed by the
payment of all Government obi
cations in deprecated silver. AT
this stage gold and silver must
part company, and the Govern
ment must fail in its established
policy to maintain the two ms tails
on a parity with each other.
Given oyer to the exclusive use
of a currency, greatly deprecated
according to the standard of the
commercial world, we could no
longer claim a place among na-
tions of the first class. nor could
our Government claim a perform
ance of its obligations SO far as
such an obligation has been i'm
posed upon it, to provide for the
use of the people the best and
safest money.
If, as many of its friends claim,
silver ought to occupy larger
place in our currency aud the cur
rency of the world, through gem
eral international cooperation
and agreement, it is obvious that
the United States will not be in q
position to gain q hearing in favor
of such an arrangement SO long as
we are willing to continue our at
tempts to accomplish the result
single-hsnded.
The knowledge in business cir
cles among our own people that
our Government cannot make its
flat equivalent to intrinsic value,
nor keep inferior money on par
ity with superior money by Its
own Independent efforts, has re-
suited in such a lack of conf
dence at home in the stability Of
currency values, that capital re-
fuses It's aid to new enterprises,
while millions are actually with
drawn from the channels of trade
and commerce to become idle and
unproductlve in the hands of tim
id owners.
Foreign investors, equally alert
not only decline to purchase
American securities, but make
haste to sacrifice those which they
have.
1t does not meet the situation to
say apprehension in regard to the
future Of our finances is ground
less and there is no reason for
lack of confdencein the purposes
of powers of the Government in
the premises. The very exist
ence OF this apprehension and
lack OF confidence, however, caus-
ed, is 8 menace, which ought no..
for moment TO be disregarded.
Possibly if the undertaking we
have in hand were the mainte-
nance of a specific known quantity
OF silver at parity with gold, our
ability to do so might be estim st
ed and gauged, and perhaps in
view of our unpa; alleled growth
ald resoarees, might be favorably
passed on. But when our avowed
endeRvor is to maintain such pari-
ty in regard tG an amount of sill
ver increasing at the rate OF $50,-
100000 yearly, with no fxed ter
mination to sucL Increase, it can
can hardly be said that a problem
is presented whose solution is
free from d0att.
The people OF tie Unitej States
are entitled to gouud and relia-
bic currency and to money recog-
nized as such on every exchange
ard in every market of the world.
Their Government has 10 right to
injure them by financial expert
ments opposed to the poiioy and
practices of ether States, nor is it
justified in permitting an exagger-
ated RELIANCE on cur National
strength and ability to jeopardize
the soundness of the peoples
money,
This matter rises above the
plain of party policy. 1t vitality
concern every business and call
ing and enters every home in the
land. There Is one important as
peet of the subject which espec-