The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1893-08-15

| oun that INC Onlteu STATES Will not Dt
In o position to gaina hearing in favor
OF such an arrangement so long as we
are willing to continue our attempt tc
accomplish the result single handed
The knowledge In business circle!
among our own people that our govern
ment cannot make its fiat equivalent
to intrinsic value, nor keep inferior
money on o parity with the superior
money, by its own independent efforts
has resulted in such q lack of conf.
dence at ,home in the stability of cur.
rency values that capital refuses its
aid TO new enterprises, while millions
are actually withdrawn from the chan
nels of trade and commerce to become
idle and unproductive in the hands OF
Its timid owners. Foreign investors
equally alert not only decline to pur-
chase American securities, but make
haste to sacrifice those which they al
ready have.
1t does not meet the situation to say
that apprehension in regard to the fri-
ture OF our finances Is groundless and
that there Is no reason for lack of con-
ndence In the purposes or powers Of the
government in the premises. The
very existence of this apprehension
and lack of confidence, however caus-
ed, is q menace which ought not for O
moment to be disregarded. Possibly II
the undertaking we have in hand
were the maintenance of specific
known quantity of silver at O parity
with gold, our ability to do so must be
estimated and gauged and perhaps in
view of our unparalleled growth and
upon. But when our avowed endeavor
Is to maintain such parity in regard to
an amount of silver increasing at the
rate of $50, ,000, 900 yearly, with no fixed
termination to such increase, it can
hardly be said that problem is pre-
sented whose solution is free from
doubt.
The people Of the United States are
entitled to a sound and stable currency
and to money recognized as such on
every exchange and in every market
no right to injure them by financial ex-
periments, opposed to the policy and
practice of other civilized states, nor
is it justified in permitting an exag-
gerated and unreasonable reliance on
our national strength and ability to
jeopardize the soundness of the peo-
pies money. This matter rises above
the plane of party politics.
1t vitally concerns every busines and
calling and enters every household in
tile land. There is one important as
pect of the subject which especially
should never be overlooked. At times
like the present, when the evils Of un-
sound finance threaten us, the specu-
latOr may anticipate harvest gather
ed from the misfortune of others. The
capitalist may protect himself by
boarding or may even find profit in the
fuctuation of values, but the wage
earner-the first to be injured by de-
preciated currency and the last to re-
noSx f1No &c b. =
practically defenseless. He relies for
work upon the ventures of confident
and contented capital. This failing
him: his condition is without allevia-
tion, for he can neither prey on the
misfortunes of others nor hoard his la
Dor.
One of the greatest statesmen our
country has known, speaking more
than fifty years ago, when aderangment
,Of the currency had caused commercial
distress, said: "The very man of all
others who has the deepest interest in
O 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 as on the day
they were uttered, and ought to i'm
pressively remind us that failure in
the discharge of our duty at this time
must especially injure those of our
cOuntrymen who labor, and who be-
cause 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 Con-
gress can afford in the existing situa-
tion be afforded at once. The maxim,
He gives twice who gives quickly"
is directly applicable.
IT. mQUc ha trne that tho ON, bo rro oo-
ments 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 councils will prevail, and
that neither the capitalists nor the
| wage-earners will give way to unne-
cessary panic and sacrifice their prop
| erty or their interests under the infll-
ence of exaggerated fears. Neverthe-
less, every days delay in removing
one of the plain and principal causes
the mischief already done and in
creases the responsibility of the gov
ernment for its existence. Whatever
else the people have right to expect
from Congress, they may certainly de-
mand that Legislation condemned by
the ordeal of three years. disastrous
experience shall be removed from the
statute books as soon as their repre-
sentatives can legitimately deal with
it.
1t was my purpose to summon Con-
gress in special session early in the
coming September that we might en-
ter promptly upon the work OF tariff
reform, which the true interests of the
country clearly demand, which SO
large a majority OF the people as
shown by their suffrages desire and
expect, and to the accomplishment OF
which every effort of the present ad-
ministration is pledged. But while
tariff reform has lost nothing of its inn
mediate and permanent Importance,
and must in the near future engage
the attention of Congress, it has seem.
ed to me that the financial condition
OF the country should at once and be.
fore all other subjects be considered
by your honorable body.
L earnestly recommend the prompt
repeal of the provisions of the act
passed July IA, 1890, authorizing the
purchase of silver bullion, and that
other legislation may put beyond al
doubt or mistake the intention and the
ability Of the government to fulfill Its
pecuniary obligations in money univer
sally recognized by all civilized coun
tries.
lSigned) GROVER CLEVELAND.
Executive Mansion, Aug. Z, 1893.
| - -. =