The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1893-08-10

s1Nntlard W the con naesclal world, W.
could 10 longer claim place among ma
tions Of the first class, nor could our gov
eminent claim 3 performance OF its obligar
ton, 80 tar as such an obligation has been
imposed upon it, to provide for the use Of
the people, the best and safest money
#, IS many Of its friends claim, silver
ought 70 occupy larger place in our cur
rency and the currency Of the world
through general international cooperation
and agreement, it is obvious that the
United States will not be in a position to
gain hearing in favor Of such an arrange
ment SO long as we are willing to con-
tinue our attempt to accomplish the re-
suit single handed.
Resulted lii Lack OF Confidence.
The knowledge in business circles among
our own people that our government can
not make it's fiat equivalent to intrinsic
value, nor keep in force our money on a
parity with superior money by its own in
dependent efforts, has resulted in such a
lack of confidence at home in the stability
of currency values that capital refuses its
aid to new enterprises. while millions are
actually withdrawn from channels of
trade and commerce to become idle and
unproductive in the hands of timid own
ers Foreign investors, equally alert, not
only decline to purchase American securi-
ties, but make haste to sacrifice those
which they already have. It does not meet
the situation to say that apprehension in
regard to the future of our finances is
groundless, and that there is no reason for
lack of confidence in the purposes of the
government in the premises.
Should Not Be Disregardel.
The very existence of this apprehension
and lack of confidence, however caused, is
menace which ought not for moment to
be disregarded. Possibly if the undertak-
ing we have N hand, were the maintenance
OF specific known quantity of silver at a
parity with gold, our ability to do SO
might be estimated and gagged, and per-
haps il view of our unparalleled growth
and resources, might be favorably passed
upon. But when our avowed endeavor is
to maintain such parity in regard to an
amount of silver increasing at the rate of
termination to such increase, it can hardly
be said that problem is presented whose
solution is free from doubt.
Entitled to a Sound CURRENCY.
The people of the United States are en-
titled to a sound and stable currency, and
to money recognized as such on every ex-
change and in every market of the world.
Their government has no right to injure
them by financial experiments opposed to
the policy and practice of other civilized
states, nor is it justified in permitting an
exaggerated and unreasonable reliance
on our national strength and ability 70
jeopardize the soundness of the peoples
money.
This matter rises above the plane of
party politics. 1t vitality concerns every
business and calling and enters every
household in the land There is one inn
portant aspect of the subject which
especially should never be overlooked. At
times like the present, when the evils Of
unsound finance threaten us, the specu-
lator may anticipate a harvest, gathered
from the misfortune of others, the cap
italist may protect himself by boarding or
may even find profit in the fuctuation of
values.
The Wage-Earner Defenseless.
But the wage-earner, the first to be in
jured by deprecated currency and the
last to receive the benefit of its correction,
is practically defenseless. He relies for
work upon the ventures of confident
and contented capital. This failing
him, his condition is without
alienation, for he can neither prey
on the misfortunes of others, nor hoard his
labor. One of the greatest statesmen our
country has known, speaking more than
SO years ago when arrangement of the
currency had caused commercial distress,
said: THE very man of all others who
has the deepest interest in sound cur
rency and who suffers most by mischievous
legislation ii money matters, is the man
who earns his daily bread by his daily
TOLL
These words are as pertinent now as in
the day they we're uttered, and ought to
impressively remind lis that failure 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 watchful care of their goye. IL
ment.
Should Act at Once.
It is far the most important that such
relief as congress can afford in the exist
ing situation be afforded at once The
maxim HE gives twice who gives
quickly" is directly applicable. 1t may
be true that the endorsements from
which the business of the country is suf-
fering arise as much from evils appre-
hended as from those actually existing.
We may hope, too that calm counsels will
prevail and that neither the capitalists nor
the wage earners will give way to unreas-
oning panic, and sacrifice their property OF
their interests under the influence of ex-
aggerated fears. Nevertheless, every days
delay in removing one of the plain and
principal causes of the present state OF
things
Enlarges the Mischief
already done and increases the response.
bility of the government for it's existence.
Whatever else the people have right to
expect from congress they may certainly
demand that legislation condemned by
the ordeal of three years disastrous ev.
perience shall be'removed from the statute
books as soon as their represen tatives can
1orifi,p atc1v 1oo1 With