Daily Texarkana Democrat., 1893-08-09
gold and Silver 80 - = = -
Must Part Company

,A-u tho 6OleIuultul must lhll III lls eSLaD-
lshed policy to maintain the two metals on
panty with each other. Given over to an ex-
elusive use OF currency, greatly deprecated,
according to the standard OF the commercial
wOrIa, we Gould no longer claim place
among nations OF the first class, nor
could our government claim the performance
OF Its obligation so far as such an obligation
has been imposed upon Il to provide Tor the use
OF the people the best and safest money. II, as
many OF Its friends claim, silver ought to occu-
py larger place in our currency, and the cur
rency OF the world, througk general interna-
tlOnal cooperation and agreement II is obvious
mat the United States win not be in position to
gain hearing in favor Of such an arrangement
50 long as we are willing to continue our at
temptto "NF y wv - :
Accomplish the Result Single Handed.
The knowledge in business circles
government cannot make It's fat equiya.
lent to intrinsic value nor keep an inferior
money on parity with a superior money by
Its own independent efforts has resulted in
such lack OF confidence at home In the stability
OF currency values that capital refuses its aid
tonew enterprises while millions are actually
Withdrawn from the channels OF trade and com
meree to lie idle and unproduotiye In the hands
OF owners. Foreign Investors equally alert
not only decline to purchase American securi-
ueh but make haste TO sacrifice those which
they already have. ItdOes not meet the situation
70 say that the apprehension In regard to the
future Of our finances Is groundless and that
there Is no reason for lack Of confidence In the
purposes or power Of the government in the
premises. The very existence of this appre-
h9 hensi9n and lack e confidence, however
ipent to be disregarded, Possibly, If the un-
dertaking we have IN hand were the main
tenance OF specific quantity of silver at a
parity with gold our ability to do so might be
in view Of Our own unparalleled
growth and resources, might be favorably
passed upon but when our avowed endeavor
Is to maintain such parity in regard to an
Fifty Millions of Dollars Yearly,
with no fixed termination to such increase, it
can hardly be said that a problem is presented
people of the United States are entitled to a
sound and stable currency and to money rec
ognized as such on every exchange and In every
market of the world. Their government has no
ments opposed to the policy and prac-
tiCe OF other civilized states nor
is to be justified in permitting an exaggerated
and unreasonable reliance on our national
ness Of the peoples money, This matter rises
above the plane OF party politics. 1t concerns
every business and calling and eaters every
house hold in the land There is one impor
tant aspect Of the subject which especially
should never be overlooked At times, like
the present, when the evils OF unsound finance
i threaten us the speculator may anticipate
harvest gathered from the misfortune Of
others the capitalist may protect himself by
boarding or may even nnd proht In the huct.
uations OF value, but the
Wage Earnor Is First to Be Injured
by deprecated currency and the last to re-
ceiye the benefit of its correction He is pracu-
cally defenseless He relies for work upon the
ventures Of confident and contented capital.
This falling him, mis- condition is without al
deviation, for he can neither prey, on the mis-
fortunes OF others nor hoard his labor. One of
the greatest statesmen our country has known,
speaking more than 30 years ago when the de-
rangement OF the currency had caused CON;
mefcial distress said '"The very man Of all
Others who has the deepest inteFe,t ge,t
the 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 impressively
remind US that failure in the discharge of our
duty at this time must especially iniure those of
Our Countrymen Who Labor,
and who, because Of their number and condi.
ton are EMIT ed to the most watchful care of
our government 1t Is OF the utmost Importance
that such relief as congress can afford in the vxa
isting situation be afforded at once. The maxim
rectly applicable, II may be true that
embarrassments from which the business of
tho country Is suffering arise as much from
evils apprehended as from those actually ex-
isting. We may hope, too, that calm counsels
will prevail and that neither capitalists nor
wage earners will give way to unreasoning
panic Jnd sacrifice their property or their in
terests under the influence OF exaggerated
fears. Nevertheless, every days delay in re-
moving one of the plain and principal causes
Of the present state of things enlarges the
mischief already done, and increases
the responsibility of the government fl
Its existence. Whatever else the people have
q right TO expect from congress they may
certainly demand that legislation condemned
by three years disastrous experience shall be
Removed From the Statute Book
as soon as their representatives can legiti-
t1atelf deal With 1t. 1t was my purpose to
summon congress In special session early in
the coming September, that we might enter
promptly upon the work of tariff reform, which
the true interest of the country clearly de-
mands, and which so large majority of the
people, as shown by their sufirages. desire and
expect and orv to the ,rdr; accomplishment DG SnS
present administration ls pledged but
while ariffrefpym has lost nothing of Its i'm
mediate ana permanent Importance, and must
III the near future engage the attention OF con.
gress, II has seemed TO me that the financial
condition OF the country shonld at once, and
before all other SUBJECTS be considered by your
honorable body.
earnestly recommend:
The Prompt Repeal
OF the preyisioHs OF the act passed July IA,
1870, authorizing the purchase OF silver bullion
and that other legislative action may
put beyond all doubt or mistake the
Intention and ability OF the government 70
fulnll its pecuniary obligations In money uni
yersally recognized BY AZ ciMnzea countries