The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-08-19
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Eaa NOT work sfS5t4HAkDtD.
IT, is many Of its friends claim. silver 5tsat
TO occupy a larger place ia, our CURRENCY Spd
! the currency OF the world through general ID:
ternaiional cooperation and agreement, if is
obviors that the United States win not be In 4
| position TO gain hearing In favor Of such an
arrangement so long as We arc willing to con-
! time our attempt 10 accomplish the result sim
gle-handed-
THE EFFECT IN BUSINESS CIRcLEs
| The knowledge in business circles among our
| own people that our government can not make
| its nat equivalent TO intrinsic value. nor keep
inferior money on parity with superior money
| ly its own independent efforts. has resulted in
| such o lack Of confidence at home. In the sta
J fflity OF currency values that capital refuses
| its aid to new enterprises, while millions are
actually Withdrawn from the channels OF trade
and commerce to become idle and unproduc-
| tive in the hands Of tmid owners. Foreign in
vestors equally. alert. not only decline 10 pur-
chase American securities but make haste to
sacrifice those which they already have,
MENACE NOT TO DE DIsREGARDED.
| II does not meet the situation to say that ap-
prehension in regard to the future Of our
! finances is groundless. and that there Is no
reason for lack Of confidence in the purposes Of
power OF the government in the premises. The
| very existence Of this apprehension and lack
gt confidence. however caused, is .
hiehace which ought not for q moment
ID be distesarded Possibly II the under.
| taking we have in hand were the maintenance
Of specific known quantity Of silver at
parity with Sold our ability 10 do SO might be
estimated and gauged. and perhaps, In view OF
| our unparalleled growth and resources might
be fdvOrarly passed upon. But when ouF
avowel endeavors to maintatn such parity Id
| regard to an amount OF silver increasing at the
rate Of $5O,QOG,Goo yearly with no fxed tsrmina:
fisar,t boz Ia q ffnf
a problem is presented whose solution Is free
| from doubt.
| ENTITLED TO A SOUND AND STABLE CURRENCY.
The people OF the United States are entitled
| TO sound and stable currency, and to money
| recognized as such on every exchange and in
every market OF the world. Their government
has no right to injure them by financial expert
| ments opposed to the policy and practice Of
other civilized states nor Is il justined in per-
mitting an exaggerated and unreasonable re-
| lance in our national strength and ability to
| jeOpariise the seundness OF the peoples
| money.
ABOVE THE FLAME OF PARTY Politics.
This matter rises above the plane OF party
politics 1t vitality cbhcefns every business
and calling and entefs livery household in the
| land. There is one important aspect Of the
subject which especially should never be over
looked At times like the present. when the
| evils of unsound finance threaten us, the
| specuator may anticipate a harvest GATH
| cred from the misfortune Of Others;
the capitalist may protect himself by boarding
or may even find rroft in the fuctuation OF
| values; but the wage-earaer-the first 10 be In
jured by a dcpreciated currency and the last I'd
| receive the benefit OF its correction-is practi-
cally defenseless. He relies for work upon tho
ventures of confident and contenfed capital
This failing him his condition is without al
deviation for he can neither prey on the mis-
II.
PERTINENT WORDS
One Of the greatest statesmen our country
| has known. speaking more than fifty years
ago when arrangement Of the currency had
caused commercial distress. said THE very
man Of all others who has the deepest interest
| in u sound currency. and who suffers most by
mischievous legislation In money matters. is
the man who earns his daily bread ty
| his daily toll" These words are rs pertinent
now as on the day they we're utter.
ed and ought to impressiveiy remind us that 4
failure in the dis barge of our duty at this lime
must especially injure those Of our countfymeu
who labor. and who, hecanse Of their number
and condition. are entitled to the most watch
fu care of theft government
| THE DUTY or c6NGREss
II Is OF the utmcst Importance that such re-
lief as congress can afford in the existing situ-
alton I've afforded at once. The maxim: He
gives twice who gives quickly Is directly ap;
plicahlc. 1t may I've true that the embarrass:
mcnts from which the business OF the country
is suffering arose as much from evils
| apprchended Is from those actually existing.
| We may hope. too, that calm counsels will pre-
vail and that neither the capitalists nor the
wagc-carl rs Will give way TO unreasoning
panic and sacrifice their property or their in
terests under the influence OF exaggerated
fears.
| DELAY ENHANCES THE DANGER.
Nevertheless. every day delay in removing
one OF the plain and principal causes OF the
| present state OF things enlarges the mischief
already done and increases tho responsibility
OF the government for its existence. What
ever else the people have a 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
hooks rs soon as their representatives can
| legitimately deal with them.
TARIFF REFORM TEMPORARILY s1fJs-TRACKsD.
il was my purpose to summon congress in
special session early in the coming Sep
temher that we might enter prompt
ly 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 surrages desire
| and expect. and to the accomplishment of
which every effort of the present administra-
tion is pledged. But while tariff reform has
| lost nothing of its immediate and permanent
importance and must in the near future engage
the attention OF congress. it has seemed to me
that the financial condition OF the country
| should at once and before all other subjects,
lie considered hy your honorable body.
REPEAL OF THE SHERMAN ACT.
Earnestly recommend the prompt repeal Of
the provisions OF the act passed July II. 100.
authorizing the purchase Of silver bullion,
put beyond all doubt or mistake
the intention and the ability of the
| government to fill its pecuniary obligations in
money universally recognized by all ciyalized
countries.
lSignedl GROVER CLEVELAND.
Executive Mansion, Aug. Z, 1893
The message was listened to with in.
tense interest by the members of the
house, and at the conclusion of its
reading was greeted with general ap-
plause not confined to any section Of
the chamber.
The Michigan election case pending
between Richardson and Belknap was
then Callen up.
| SENATE.
The senate met at noon, and after
the morning routine took a recess un-
til 12:45 to await the arrival of the
presidents message.
Rev. Mr.. Milburn, the new chaplain
of the senate. made the opening prayer.
The journal of yesterday was read
by the new secretary of the senate, Mr..
Cox.
The credentials of Mr.. George C.
Perkins, under the appointment of the
governor of California. in place of the
late Senator Stanford, We're presented
and read, and the oath of Office was ad-
ministered to the new senator.
TELEGRAPHIC BREVITIES.
Retrenchment and salary cutting Is going on
among all r.le big railroad corporations
II is understood that George Dixon and Solly
Smith will meet. sometime in September. be-
fore the Coney Island Athletic club and dispute
for possession OF q tl00O3 purse.
Charley Mitchell is said to be training faith
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