Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1893-08-17

! Yer purcildss AdN. TOW IN IOtcr, leddS IN
the direction OF entire suos .ituEion OF sill
yer tor the gold l., the government treas
ury, anl that this must DO followed 10y
| the payfn+at Of all government obligations
in deprecated silver
Gold and silver Must Part.
At this stage gold and silver must part
| company and the government must fail
in its established policy to maintain the
two metals on \ parity with each other.
Given over to the exclusive use OF a cur
rency greatly depreciated According TO the
stand, rd of the cnul 'nercial world we could
! no 10 ger claim a place among nations Of
the first class. nor could our government
claiIna performance of its obligation. SO far
as such an Obligation has been i'm posed up
on C. 10 provide FOR the use Of the people the
best AMI safest money.
( as many 0. is friends claim. silver
ought to occupy larger place in our curren-
cy and the currency Of the world through
general international corporation and agree
ment it is obvious that the United States
will not be ia a position to gain a hearing
in favor of such an arrangement so long rs
we are willing TO continue our attempt to
accomplish the result single handed
The knowledge in business circles among
not make its fiat equivalent to intrinsic
value. nor keep inferior money on a parity
with superior money by its own indepen-
dem Efforts, has resulted in such lack Of
confidence az home, in the stability of cur
renfy value that capital refuses its aid 10
new enterprises. while millions are actu.
ally Withdrawn from the channels Of trade
and eomnercs to b come idle and uupro-
ductiye in the hands of timid OVERS
Foreign investors equally a!ert MOI only
deciae 20 purehas American securities
but make haste 10 sacrifice those which !
they already have
Lack Of Confidence a Menace.
It does not meet the situation to say
that appreh ns on in regard to the future 1
OF our finances is ground!ess and that /
there Is no reason for lack of confidence in 4
the purposes or power of the Government /
in the premises The very existence Of /
this apprehen ion and lack of confidence, |
however caused, is a menace which ought |
not for a moment to be disregarded. Pos
sib y II the undertaking we have in hand
were the maintenance OF specific known
quantity OF silver at the parity with gold.
our ability TO do 80 might be estimated and
gauged. aud perhaps in view of our I'M
paralleled growth and resources, might be
favorably passed upon. But when our
avowed endeavor il to maintain such parity
ia regard to AN amount OF silver increasing
at the rate of fifty millions OF dollars year
ly, with no fixed termination to such in
crease, it can hardly be said that problem
is presented whose solution is free from
doubt
The people OF the United States are en-
titled to a sound aud stable currency aud
TO money recognized as such on every ex-
change and in every market OF the
world Their government has no right
10 injure them by financial experiments
opposed TO the policy and practice of
other civilized states. nor is it justified
in permitting AN exaggerated and I'M
reliance on our national
strength and ability to jeopardize the
soundness of the peoples money.
Not Parry Matter.
This matter rises above the plane OF party II
politics 1t vitality concerns every business
and calling and enters every household in
the land There is one impor ant aspect
Of the subject which especially should
never be overlooked. At times like the
when the evils OF unsound finance
threaten u.s. the speculstor may anticipate
a harvest gathered from the misfortune Of
others, the capitalist may protect himself
by boarding or may even find profit in the
huctuation OF values but the wage-earner
the first to be injured by a deprecated ,
currency and the last to receive the bene
At OF its correction-is practically q
iefenseless. He relies for work on
.he ventures of confident and contented
,apital This failing him. his condition is
without allsviaton, for he can neither
prey on the misfortunes Of others nor hoard
lis labor. One OF the greatest statesmen
,ur country has known. speaking more than
fifty years ago when arrangement of the
had caused commercial distress.
aid:
1.-The very man OF all others who has
he deepest interest in a sound currency
md who suffers most by mischievous legis- !
alton in money matters. is the man who d
arms his daily bread by his daily toll
These wor.-s are as pertinent now as on A
be day they were uttered, and ought to .
remind us that II failure in the &
ischarge of our duty at this time must d
specially injure those of our countrymen r
rho labor and who because of their nam d
er and condition are entitled to the most I
gatchful care of their government b
Immediate Action Necessary.
II l. OF the utmost Importance that such
slief that Congress can afford in the exist
~ situation be afforded at once The
laxim: ''He gives twice who gives u
uickly" is directly applicable 1t may OF
Q true that the endorsements from &C
'hich the business of the country is suffer Il
IL arise as much from evils apprehended VI
) from those actually existing We may al
ope. too. that calm counsels will prevail b
nd that neither the capitalists nor the d.
age earners will give way to reasoning CO
anic and sacrifice their property or their
terests under the influence of exaggerated
ars Nevertheless, every days delay
removing one of the plain and la
-incipal causes of the present state of ia
Iings enlarges the mischief already done E.
I'd increases the responsibility the gov w
nment for its existence. Whatever else AT
e people have a right to expect from Con- WI
'ess they may certainly demand that legis-
zion condemned by the ordeal of three
ars' disastrous experience shall be re-
owed from the statute hooks as soon as bu
oir rar,racantafiv ran iaorisi afivefv daal I M