St. Paul daily globe., 1893-08-26
THE SIrUATION

- NASO - WY dIu
country. 1t possesses resources of in
calculable value, upon which the world
can with safety bank, in the expecta-
ton of immense returns. There is no
country in the world that offers to the
owners of accumulated wealth the same
prospects Of gain as America. 1t may
be said of America that it has quite half
OF the -undeveloped wealth of the world
hidden away i'll its natural storehonses,
which lie invitingly beckoning to cap
ltallStS to come and enjoy its richness.
There ale old countries which have
labored, and traded with the world at
large, until they have accumulated vast
stores Of wealth, and must find an out
let for investment in countries where
money is scarce. development in prog
ress, and consequently interest high
and remunerative. England is loaded
with surplus money. Holland is run
ming over with the same EN- 5arrassment
of riches. Their own countries are
finished. and long have been; their sur
plus must seek outside Investments or
lie idle. They have tried the East.
Turkey was for long time a region of
special attractivenesS, and England'S
money flowed in that direction like
cataract. Egypt presented brilliant and
seductive inducements, and England
and France poured their money into
those channels; but the Orient did not
prove as much of a bonanza as was eX-
pected, and the creditor nations are now
eXpendlng their efforts in various ways
f0 N httt ba, nI H.
full ventures.
Then the attention of the lenders was
directed to Brazil and the Argentine
Republic. and flood of money found it's
way into these countries sufficient to
have made America rejoice in the pros
perity engendered by general CONNER
clal and manufacturing activity: but
all these ventures were dismal failures,
and the immense sums of money so in
vested were substantially lost; and now
Great Britain. Holland and other cred
itor nations, while endeayoring to catch
their breaths from the effects of these
disasters, are looking about for fields in
which to recuperate.
1t is now well known to capitalists
that the old-fashioned and unbusiness-
like governments of the Orient and the
crude and experimental republics of
South America are dangerous theaters
for the investment of money, arising
from the unthrift and extravaganza of
the one and the prieSt-ridden handi-
cap and revolutionary tendencies of the
other. 1t will be many long day be-
fore any British or Dutch money will
find its way into countries SO ill-goY-
erned as the ones they have so long
tried.
The world knows that the American
people are absolutely free; that the edu-
cation of the masses Is the Fundamental
principle upon which the republic rests;
that we are the most business-like. the
most thrifty, the most inventive and
energetic people in all tine world; and
that we are better able to pay our debts
than any other nation. The world
wants to deal with US. 1t wants to buy
our securities. 1t wants to furnish the
money with which to expand our re-
sources: in other words, it sees in our
land the most promising future for
money-making, and it wants to share it
WIN dr'f do lto putt Ot Iilt
enterprise just what it has and we
want most-the money.
Now. why is there any hesitation on
The part of our neighbors to invest their
money with US? Why is there an occa-
sional sudden withdrawal of what they
Rave ventured? There is no doubt
about the stability of our government;
there is no doubt about our intelligent
progress forward and onward! Nothing
lies in our path but distruSt that eX-
lists that we NAV pay them back for
their advances in deprecated cur
rency. Once remove that doubt. and
money will flow into our Golfers in
streams that will soon make US the most
prosperous of nations, instead of the tot
tering, breaking and starving nation
that we now are.
1t is not the5 result of the silver ac-
cumulations which we have made un-
der the working of the SHERMAN law
that has wrought all this mischief, be-
cause few hundred millions one
way or the other make very lit
tie difference to country like ours;
one administration goes out with a
surplus of Sl00.0O0,GO0, and another
comes in and squanders it, but the
country goes on all the same, and never .
feels the shock. The trouble lies deep
er-it is the uncertainty of what NAV
result from continuance of the ac-
emulation Of this silver until we have
got an amount so great as to render it
necessarily the dominant element and
fa in ioI
it to drive out of circulation all other
and better metals This result will fol-
low as sure as the night the day, un-
less stop is at once put to 1t.
The world sees it, and the doubt
is the cause of all the existing
trouble. No one can expect capitalists
to place their money earned and valued
at the worlds standard of gold in in
vestments where they have the least
apprehension that it will be returned
to them in a deprecated currency.
They all now feel this apprehension
with reference to the future of this
country. The scare has become con-
tagious. and has stricken our own peo-
pie, and the usual panic has followed
and afflicted the land. Nothing can or
will remove the cloud and let in the
Sunshine of confidence but the prompt
action of congress in the repeal of the
purchasing clause of the SHERMAN law,
and that in such an unconditional form
as to leave no doubt that the nation is
determined to stand upon the firm basis
of the worlds standard of money.
THE ISSUE OF THE HOUR.