The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1893-08-17
to continue our attempt to accomplish
the result singl e-handed.

to continue our attempt to accomplish
the result singl e-handeu.
The knowledge in business circles
among our own people thar our govern
ment cannot make it's fat equivalent to
intrinsic value, nor keep inferior money
on q parity with superior money, by it's
own independent efforts has resulted in
such lack Of confidence at home, in the
ability of currency values, that capital
refuses it's aid to new enterprises, while
millions are actually Withdrawn from the
channels of trade and commerce to be-
come idle and unproductiTe IN the hands
of their timid owners. Foreign investors,
equally alert, not only decline to pur-
chase American securities, but make 4
haste to sacrifice those which they al
ready have. 1t does not meet the situa-
ton to say that the apprehension in re- 4
gard 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 apprehension
and lack of confidence, however caused,
! Is n Menace. s5
which ought not for a moment to be dis
! regarded. Possibly if the undertaking
| we have in hand We're the maintenance
| of a specific, known quantity OF silver
! at parity with gold, our ability to do so
| might be estimated and gagged, and. per-
| haps, in view of our unparalleled growth
and resources, might be fayorably passed
! upon. But when our ayowed endeavor
| is to maintain such parity. in regard to
| an amount of silver increasing at the rate
of $50, 100000 yearly, with no fixed ter
mination to such increase. it car hardly
be said that a problem is presented whose
solution is free from doubt. w.. .....-. e..
The people of the United tates are en-
titled to a .v.s...a. ...'- --,..' T.
Sound and Stable Currency -
| and to money recognized as such on ev-
cry exchange and in every market IN the
world. Their government has no right
to injure them by financial .experimen Is
opposed to the policy and practice OF
other civilized states, nor is it justified
in permitting an exaggerated and I'm,
reasonable reliance on our national
strength and ability to jeopardize the
soundness of the peoples money. inns
matter rises above the plane OF party
politics. 1t vitality concerns every bust
| ness and calling and enters every house
hold in the land There is one important
aspect of the subject which especially
should never be overlooked.
Laboring Man the Sufferer.
At times like the present when the
evils of unsound finance threaten us, the
gathered from the misfortunes of others,
the capitalist may protect himself by
boarding or may even find profit in the
| fluctuationof values: but the wage
Garner, the first to be injured by depre-
ciated currency and the last to receive
the benefits Of it's correction, is practi-
cally defenseless He relies for work up
on the ventures of confident and content
ed capital This failing him his condi-
ton is without alienation, for ne can
neither prey on the misfortunes OF others
nor hoard his labor. One Of the greatest
statesmen our country has known, speak
ing more than fifty years ago when
advancement of the currency had caused
commercial distress, said:
"The very man of all others who mas
the deepest interest in a sound currency
and who suffers by mischievous leglsla-
tion in monetary 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 ana oushl
to impressively remind us that a 1aliure
. in the discharge Of our duty at this time
must especially injure those OF our coun.
trymen who labor, and who, because of
their number and condition, are entitled
to the most watchf':l care Of their gov
eminent 1t is of the utmost importance
that such relief as congress can aHord IN
the existing situation be afforded at once.
The maxim. 'He gives twice who gives
quickly is directly applicable. 1t may be
true that the embarrassment from winch
the country is suffering arises as much
from evils apprehended as from tnose
I v
calm counsels will prevail, and that nei-
Their the capitalist nor the wage Garner
will give way to unreasonlng panic ana
sacrifice their property or their interests
under the influence of exaggerated fears.
Nevertheless. every days delay in remov-
ing one of the present state of things en-
larges the mischief already done and in
creases the responsibility Of the govern
ment for it's existence. Whatever the peo-
pie have right to expect from congress,
they may certainly demand thatleglsla-
} ton, condemned by the ordeal of three
years disastrous experience, shall be re-
moved from the statute books as soon as
their representatives can legitlmately
: deal with it. It was my purpose to sum-
mon congl ess in special session early IN
the coming September that we might en-
l ter promptly upon the work of tariff re-
7 form which the true interests of the
= counry clearly demand which so large a
; majority of the people as shown by their
5 suffrages desire and expect, and to the ac-
5 complisbment of which every effort of
the present administration is pledged.
But while tariff reform has lost nothing
of it's immediate and permanent import
ance; and must in the near future en-
gage the attention Of congress, it has
l seemed to me that the financial condi-
: ton of the country should at once and
/ before all other subjects, be considered
by your honorable body.
: l earnestly recommend the prompt re-
/ peal of the provisions of the act passed
> July IA, 1890, authorizing the purchase
: of silver bullion and that other legisla-
tive action may be put beyond all doubt
: or mistake the intention and the ability
0 of the government to fulfill it's pecuniary
r obligations in money universally recog.
r nized by all civilized countries.
: GROVER CLEVELAND.
e Executive Mansion, Aug Z, 1893.
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