Democratic messenger., 1893-08-12

all Government oDHgatlons IN ueTrecIateu
silver.
At this stage gold and silver must part
company and the government must fail in its
established policy to maintain the two met
ais on a parity with each other. Given over
to the exclusive use OF currency greatly
deprecated according to the standard of the
commercial world, we oouid no longer claim
q place among nations OF the first classs, nor
could our government claim a performance
OF its obligation, SO far rs such an obliga-
tion has been in posed upon II, to provide
for the use o. the people the lest and safest
meney.
II. as many OF its friends claim. silver
ought to occupy larger place in our cur
rency and the currency of the world through
general international cooperation and agree
ment, 1t is obvious that the United States
will not be in n position TO gain a hearing in
favor of such an arrangement so long as We
are willing to continue our attempt to ac-
complish the result single handed.
ISFiR RIoR MONEY.
The knowledge in business circles among
our own people that our Government cannot
make its fiat equivalent TO intrinsic value.
nor keep inferior money on n parity with
superior money by its own independent cf-
forts. has resulted in such a lack OF conf
dence at home, in the stability of currency
values that capital refuses its aid to new en-
terpr:ses while millions are actually with
drawn from the channels of trade and COM
merce to become idle and unproductive in
the hands Of timid owners. Foreign inves
tors equally' alert not only decline to pur-
chase American securities, but make haste to
sacrifice those which they already have.
1t does not meet the situation 10 say that
apprehension in regard 10 the future OF our
finances is groundlfs SIS and that there is no
reason for lack OF confidence in the pdrposcs
or power OF the government in the premises.
The very existence OF this apprehension and
lack of confidence. however caused, is q
menace which ought not for a moment be
disrcgarded. Poss bly,, IL the undertaking
we have in han. were the maintenance of a
specific known quantity of silver as parity
with gold our ability TO do so might lie esti'
mated and guaIcd and perhaps in view OF
our unparalleled growth and resources,
might be favorably passed upon. But when
our avowed endeavor is TO maintain such
parity in regard TO an amount Of silver in
creasing at the rate OF $500 0,000 yearly,
with no fixed term nation to such increase,
it can hardly lie said that problem is pre-
sented who's. solution Is free fir I'm doubt.
The people of the Unit d States are en-
titled to sound and able currency, and
TO money recognized rs such on even ex-
change and in every market OF the world.
Their Go eminent ha' no right TO injure
them by financial experiments opposed to
the policy and practice of other civilized
States, nor is it justified in permitting an ex-
aggerated and unreasonable reliance on
our national strength and ability TO jeopar-
die the soundness of the peoples money.
ABOVE PART; POLITICS.
This matter rises above the plane OF party
politics. II vitality concerns every business
and calling and enters every household in
the land. There is one important aspect OF
the subject which especially should never be
overlooked
At times like the present, when the evils
OF unsound finance threatens us, the specu-
laior may anticipate harvest gathered from
the misiortunts of others, the capitalist
may protect himself by boarding or may
find profit in the fluctuation OF values. but
the wage Garner, the first TO he injured by a
deprecated currency, and the last TO re-
ceive the benefit of its cot irection-is pracii
cally defenseless. He relies for wo upon
the ventures of confident and contented cap
ital. This failing, his condition is without
alleviation, for he can neither pray on the
misfortune OF others nor hoard his labor.
One OF tho greatest statesmen our country
has known, speaking more than so years ago
when a arrangement of the currency had
caused commercial distress, said: The very
man of all other, who has the deepest in
terest in a sound currency and who saffers
most by mischievous leg station in money
matters, is the man who earns his daily
bread by his daily TOLL
These words are as pertinent now as on
the day they were uttered aud ought 10 i'm
pressivcly remind us that failure in the
discharge of our duty at this time must es-
pecially injure those of our countrymen who
labor, and who. because of their number
and condition are entitled to the most watch
full care of their Government
Ii 10 of the utmost importance that such
relief as Congress can afford in the existing
situation be afforded at once. The mamim
.'IIe gives twice who gives quickly is di-
bn tr,,a hot ha
embarras sments from which the business OF
the country is suffei ing arise as much fiom
evils apprehended us from those actually
existing.
We may hope, too. that calm counses will
prevail and that neither the capitalists nor
the wage earners will give way TO reasoning
panic, and sacrifice their property or their
interests under the influence of exaggerated
fear. Nevertheless, every days delay in re-
moving one of the plain AMI principal
causes OF the present ate of things cnaryes
the mischief already done and increases the
responsibility OF the movement for its ex-
istence. Whatever else the people have n
right to expect from Congress they may GER
tainly demand that legislation condemned by
tuc oiuchi vi ycsttS ulsiiSirous c1-
perience shall be removed from the statute
books rs soon as their representatives can
legitimately deal with il.
TARIFF REFORM.
II was my purpose to summon Congress in
special session early in the coming Septem-
ber. that we might enter promptly upon tho
work OF tariff reform, which the true inter-
ests OF the country clearly demand, that
which so large a majority of the people. as
shown by their suffrages, desire, expect, and
to the accomplishment Of which every effort
of the present Administration is Pledged.
But while tariff reform has lost nothing Of
its immediate and permanent importance,
and must in the near future engage the at
tention of Congress, IL has seemed to me
that the financial condition of the coun ry
should at once and before all other subjects