The National tribune. [volume] (Washington, D.C.) 1877-1917, 1893-08-17

TO relieve the present financial stringency
in the country, and that way is entirely il
the hands of President Cleveland and hi
subordinates, the Secretary of the interior
and the Commissioner of Pensions.
The country is suffering from fearful
lack of currency in the hands of the people
Owing to this prices are depressed far below
the actual value of goods and products
many staples are almost unstable at any
! price, business is stagnated, and over 1,000,-
600 industrious men are thrown out of en-
ployment, and themselves and families
are suffering from want of the necessaries
of life.
1t is undeniable that the passage of the
Arrears of Pension act helped enormously TO
end the panic of 1873 and to enable the
country to resume specie payments. Senator
Sherman, who was at first opposed to the
passage of the Arrears law, afterward told
the writer that it was of the most signal
benefit to the country at that time and
that resumption might have been very
difficult without its assistance In no other
way could such an amount of money
been placed at once in the hands of the
people where it would have been SO
effective in wiping out the burden of
debt, and starting up the wheels of business.
Every dollar paid out under that law soon
counted for thousands in paying debts and
reviving business. For example, John
Jones, of Possyville, Ind, received $500 for
arrears of pensions. Comrade Jones did not
store this away in an old teapot, or deposit it
to swell some banks reserve" His needs
were entirely too urgent for that Before night
fall he paid out large portion of that 800 in
discharge of his indebtedness; he had bought
clothing, shoes and groceries for himself
and his little family, he had handed over a
few dollars to the physician who had been
attending him, and so on. The doctor and
others to whom he was indebted immedi-
rteIy settled their debts with each other
and the storekeepers, and finally the store
keepers put that money with some more
and paid their bills TO the wholesaler. A
single dollar, put actively st work in this
way, has been known to settle $1,000 worth
of Indebtedness within a month
President Cleveland has now an oppor-
tunity to repeat the experience Of that
time, and that, too, without the passage of a
single additional law or the change of any
one now on the statute-books.
There are several hundred thousand cases
now in the Pension Bureau which are in
more or less advanced stages of completion,
and which could be allowed by little extra
effort on the part of the immense force of
clerks employed there. If, say, 100000 of
these cases could be allowed within the
next few months, and the first payments
made On them, it would distribute an i'm
mense amount Of money directly to the
people, put an end to the stringency, stop
the ruinous shrinkage of prices, and bring
about better times at once
The Commissioner of Pensions has ex-
pressed his belief in the general justice of
these claims the press of the country loudly
assert that every deserving claim should be
allowed, so there is no reason why the Pen
sion Bureau should not be set actively at
work disposing of these accumulated cases
with the greatest rapidity.
Where is the money to come from TO pay
them?
Fortunately that is question easily an
swered.
There are now in the Treasury about
100000 ounces of uncoined silver.
Should the Secretary of the Treasury decide
to coin this bullion, the profits arising from
the seigniorage would amount to about $50
00o, 900, which would be Immediately avail
able for issuance as coin, or silver certif-
Gates This would rive the TREASURY tbo+