The comet. (Johnson City, Tenn.) 1884-1916, 1893-08-10

ver ought 70 occupy larger place IN
eur currency and the currel ey 81 trio
world through general intcfnn,iatml
cooperation and agreement, il Is
Obvious that the United States sill
net be III Il position to gaina hearing
in favor Of such IN arrangement So
long as we are willing to continue our
attempt TO accomplish the result single
handed.
The knowledge in business circles
among our own peop'e that our gov
eminent cannot make it's fiat equival
ent tointrinsie value, nor keep inferior
money on parity with supersor
money by it's own Independent efforts,
has resulted in such lack Of conf
ence at home in the stability OF cur.
rency values that capital refuses its
aid to new enterprises, while millions
ale actually withdrawn from the cham
nrls If trade and commerce tl become
idle aud unproductve in the hands of
timid owners Foreign investors, eqll-
ally alert, not only decline to purchase
American securities, but make haste
to s'crifice those which they already
have. 1t does not meet the situation
to Say that the apprehension in regard
to the future of out finances is ground
less 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
apprehension and lack of confidence,
however caused, is menace which
ought not Tor moment to be disre-
garded. Possibly if the undertaking
we have in hand were the mainten-
aNce Of n specific known quantity OF
silver at parity with gold, our ability
to do 30 might be estimated and gaug
ed, and perhaps in view Of our I'm.
paralleled growth and resources.
might be favorably passed upon. But
when our avowed eudeavor is to main
tain such parity in regard to an
amouns oil silver increasing at the
rate of $50,000,000 yearly, with no fixed
termination to such increase 1t can
hardly be said that problem is pes
ented whose solution is free from
doubt.
SOUND AND STABLE CURRENCY.
The peop'e Of the United States are
, entitled to u sound stable currency
and to money recognized as such on
, every exchange, and in every market
OF the world. Their government has
no right to inquire them by financial
experiments opp sed to the policy and
, practice of other civilized states nor ia
| it justified in permitting an exaggerat-
cd and unreasonable reliance on our ma
tionai strength and ability TO leopard
ize the soundness Of the peoples money.
This matter rises above the plane OF
party politics. 1t concerns every bus
mess and calling and enters every
household in the land. There is one
! important aspect of the subject which
i especially should never be overlooked.
AT times like the present When the
9 evils of uusound finance threaten us,
: the speculator may anticipate harv-
] est gathered from the misfortune OF
5 Others, the capitalist may protect him.
self by boarding, or may even find pro-
u fit in the fuctuation OF values but the
I, wage earner-the first to be injured by
3 a deprecated currency and the last to
+ receive the benefit Of It's correction is
Q practically defenseleas. He relies for
u work upon the ventures Of confident
d and contented capital. This filling
e him, his condition is without aleva-
+ tim, for he can neither prey on The
: misfortunes OF others nor hoard his
J. labor. One of the greatest statesmen
q our country has known, speaking more
Q than fifty years ago, when derange-
10 ment of the currency had caused COM
: mercial distress, SAID
Q "The very man Of all others who has
u the deepest interest in sound curren-
IT cy and who suffers most by mischiey-
7 Gus legislation i'll money matters ia the
1t man who earns his daily bread by his
daily toll"