The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1893-08-16
A Standing Menace.


The Democra'ic party in power.s stand
ing menace to the business Of the country.
Never in lis history was al It's business and
industries in more prosperous condition
than they were a year ago. with bright
prospects for the future, The only ap-
prehension that shadowed it was a fear that
the silver legislation Of Congress might end
IN reducing our money circulation %
silver basis while nearly all the nations
with which We have commercial dealings
are on a gold basis. That apprehension was
greatly increased when in the election last
fall the Democratic party instead ofadhering
to its own organization and IFS platform Of
principles as adopted in lis national con-
vention, disbandsd in 4 number OF states
and merged itself With any factoa of voters,
no matter what vagaTies Of sOcialis,ic or
even ansrchical ideas they might profess in
order to defeat the Republican party in the
election of Presidential electors.
In this way a msjohty in Congress was
secured. opposed 20 the ideas and legislative
policy Of the Republican party. Two-thirds,
at least, of that mai ority believe that value
in money can be made by legislation. And,
therefore, all that Is necessary toinsure pros
porous times is to create by Law an abund
ance Of what is called money.
Law can fix for trade the unit OF value in
money, but it never has and never can fix
the value Of the unit That is done by those
who deal in the products of labor and is
regulated by the supply aud demand ofsuch
products Law fixes the debt paying value
of fmoney within us Jurisdiction, but cannot
tx its value for business and trade. In
business and trade the only real use of
money is for the payment of balances. In
times o. sconfdence-that is eOcfdence that
obligations viii be promptly.met as agreed
upOn-what is called money plays very
insignificant part. In such times OF all the
Transactions OF foGsiness amounting to billions
Of dollars only about 5 per cent Of the gross
amount is done with actual money. Allthe
rest is done with checks, drafts, bills ofex-
change. etc.
In times Of panic, as they are called, no
matter what the amount Of money in cir
culadon may be, there will be scarcity in
the money market. In such times trade
slackens, and as the demand for the products
Of labor decreases its effect goes back through
all the exchanges Of such products until il
reaches thelaborer himself in the reduction
of the time Of his employment or his wages.
and perhaps Of both, creating with every
oody distrust in the ability to meet obliga-
tious as made. Then begins the boarding
of what is esteemed the safest portion Of the
circulating medium, called money.
The business condition Of the country to-
day is not. therefore, caused solely by the
money legislation Of Congress. That legis-
ation snd the apprehension Of what might
be done, simply aggraya,as the sdll greater
apprehension Of what the newly elected
COngsess may do on the tariff The grave
question which confronis the business in
tefests ofthe country is whether the home
market shal. be supplied, 50 far as climate,
soil and natural facilities Will admit of il
being done 70 advantage by home labor or
whether it shall be supplied by the poorest
paid labor OF foreign countries. Any legis-
alton By Congress which would lead 70 q
greater importation Of the products off0reign
labor would TO just thar extent diminish the
employment OF home labor. So long as this
uncertainty hangs over the country
there Will be stagnstion in business, reduc-
ton in production, and iconsequently idleness
for labor
Whoever sows the wind must reap the
whirlwind. A majority Of the voters last
fall, not satisfied with letting well enough
alone. sowed the wind. and the business OF
the country is now waiting to see what the
harvest will be.