Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-08-09


trinsio value nor keep inferior money on
parity with superior money by its own
independent efforts has resulted in such q
lack OF confidence at home IN the stability
Of currency values that capital refuses It's
aid 20 new enterprises, while millions are
actually Withdrawn from the channels of
trade aud commerce TO become idlo and
unprcductivo in the hands of timid
owners. Foreign investors. equally alert.
not only decline to purchase Ameri-
can securities, but make haste TO
sacrifice these which they already
have IL does not meet the situation to
say that apprehension ia regard 10 the
futare Of our finances Is groundless and
that there Is no reason for lack of conf
denco in the purposes or power OF the
government ia the premises. The Tery
existence OF this apprehension and lack of
confidence. however caused. Is menace
VIII ch ought not for q moment 20 be
d.sregarded. Possibly if the undertaking
we have IN hand were the maintenance
of a specific known quantity of silver
az parity with gold our ability TO
do so might be estimated and gagged, and
perhaps, IN view Of our unparalleled
growth and resources. nlght DO iayorably
passed upon. But when our ayowcd en-
deavor Is 20 maintain such panty IN regard
10 an amount Of silver increasing at the
rate of ffty millions Of dollars yearly with
no fixed termination % such increase II
can hardly be and that problem is pre-
sentel whose solution Is free from doubt.
SOUND AND STABLE CURRENCY.
"The people of the United States arc
entitled - a sound and stable currency
and 20 money recognized a. such on every
exchange and IN cvcry market OF the world.
| Their government has no right 10 inluro
them hy financial experiments opposed 10
The policy and practice OF other ciYilzed
States, nor IS u justified Ia per-
mittug an exaggerated and unrea-
sonablc reliance on our national
strength aud ability to jcOpardlze the
sOundness Of the peoples money.
his matter rises above the plano of
party politics.. T. Yital!y concerns eyory
business and calling and enters every
household in the land.
THE wAGE-EABNEB DEFFNCELEss.
There Il one important aspect Of the
subject winch especially should never be
overlooked. At times IKE the present,
when the evil of uusOund finances threaten
rs. the Spectator may anticipate har-
vest gathered from the misfortune OF
Others: tie capitalist may protect hlm-
self bv boarding. or may even find profit
IN the fuctuatiOn OF values but the wage
egrncr-tho first to be injured by depre
clated currency and the last 90 receive the
benefit of lts cOrrecuOn-iS practically 10
fenceicss. lie relies for work upon the ven
lures of confident and conteuted capita.
This fullug INN. hls condition Is without
alienation, for be can neither prey on the
mlsfortures of others nor hoard his labor.
zone of the greatest statesmen our
country has known, speaking more than
fifty wears ago. when deraugcment OF the
currency had caused commercial distress,
said: Ihe very man OF all others who mas
the deepest interest in q sound currency
and who suffers most by mischleyOus leg!s-
latlon IN money matters Is the man who
earns ms daily bread by his daily toll
These words are as pertinent now rs on
the day they were uttered and ought 20
impre,slvely remind Us that failure in tho
discharge of our duty at thls time must
c-pcclaily lniure those of our cOuntrvmen
who iauOr and who because of their num-
Der and condition are entitled 10 the most
watchiul care OF their government
IMPORTANCE og PROMPT ACTION,
1T is Of the utmost importance that
such reurt as Congress can a1Ord IN the
existing situation be afforded at once.
The maxim, He gives twice who gives
quickly Is directly applicable. IL NAV
be true that the cmbarra5e ments from
which the business OF the country Is sui
ferlns arise as much from evils apprc-
htuded q, from those actually existing.
Ne NAV hope. too. that calm COunsels
will prevail and that neither the capital
1sts nor the Wagc-euruoTS VIII GSc
way to unrcasOuing pane ana sdcrllcS
tier property or their interests uuder
tlelplileuce Of exaggerated fears. Never
thelc>s. cyery days delay n removing one
Of the plan and principal causes OF tho
present state OF things cnlarEc7 the mis-
chief already done and increases the re-
spou,l0.lity of the government Tor ITS eX-
l-trncc. Whatever else the people nave h
right to expect from Congress they may
certainly demand that legislation con
demued bv the ordeal OF three years. dis
astrou4 cxperIcnce shall be removed from
the statuto-bOoks a. soon az thelr repre-
seutatlyes can legltlmatelY deal with u.
TAEIIF HEFOEW.
q" Ii was my purpose 10 summon Con-
crcss IN special session early III the coming
Eeuteuhcr that We might enter promptly
upon he work OF tauu reform, winch tue
true interests of the country clearly de-
maud. which 50 large majority OF the
psople, a. shown bY their su1rages, de-
sire and expect, and 90 the accomplish u
ment of which every enort OF the present
administration i pledged. Bul WHO
tariff reform has lost nothing of ITS lmme-
diate and permanent lnuOrtGnce ana must
in the Lear future engage the attention OF
tou-rpe-. IL has seemed To me that the
financial condition of tn county should
at once aud before all other SUBJECTS De
considered by your honorable BODY.
II earnestly recommend the prompt re,
paaI of the PROVISIONS OF tho act passed
July 4. 1890. authorizing tho purchase OF
SILVER bullion, and that other legislative
action may put beyond all doubt or ms
teke the intention and the ablilty OF the
government TO ulfl .ts pacunlary obn%a-
TONS m money universally recognized by
all civilized countries
GROVER CLEVELAND.
" ErenFire M1uSiOa, August I, 1898,