Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-08
THE MESSAGE.
Continued from First Pase.)

(Conftnued from fu0 PdgG)
over to the exclusive use OF a currency
greatly deprecated according to the stand
ara or the commercial world, we could no
longer claim place among nations Of the
nrst class. nor could our Government claim
q performance Of it's obligation, SO far as
such an obligation has been imposed upon
IT, TO provide Tor the use Of the people the
best and safest money.
II. as many of its friends claim silver
ought to occupy a larger place in our cur
rency and the currency of the world
through general international co-operation
and agreement. 1t is obvious that the Uni
ted States will not be in a position to gain
hearing In favor OF such an arrangement
30 long as We are willing to continue our
attempt to accomplish the result single
handed.
The knowledge in business circles among
our own people that our Government can
not make its fiat equivalent to intrinsic
value. nor keep inferior money on a parity
with superior money by its own independ-
ent efforts has resulted in such a lack CT
confidence at home In the stability OF cur
rency values that capital refuses its aid
to new enterprises while millions are act
ually withdrawn from the channels OF trade
and commerce to become idle and unpro-
eign investors equally alert not only de-
cline to purchase American securities but
make haste to sacrifice those which they
already have.
Apprehension Must he Removed.
1t does not meet the situation to say that
apprehension in regard to the future Of our
finances is groundless and that there IL
no reason for lack Of confidence in the pur-
poses or power of the government in the
hn vtotn -
prehension and lack Of confidence. how
ever caused, is q menace which ought not
for moment to be dfsregarded. Possibly II
the undertaking we have In hand, were
the maintenance Of a specific known quaint
ity of silver at a parity with gold, our abil-
ity to do 30 might be estimated and gauKed
and perhaps in view Of our unparalleled
growth and resources. might be favorably
passed upon. But when our avowed en-
deavor Is to maintain such parity In re-
gard to an amount Of silver increasing at
the rate Of fifty millions Of dollars yearly,
with no fixed termination to such increase.
1t can hardly be said that q problem il
presented whose solution is free from
doubt
Entitled to q 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 1t justified in permitting an
exaggerated and unreasonable reliance on
our national strength and ability to 5eop-
ardize the soundness Of the peoples money.
This matter rises above the plane Of party
pSlitics. 1t vitality concerns every business
and calling and enters every household In
the land. There Is one important aspect Of
the subject which especially SHOULD never
be overlooked. At times like the present,
when the evils Of unsound finance threaten
US. the Spectator may anticipate a harvest
gathered from the misfortune Of others. the
capitalist may protect himself BY boarding
or may even find profit in the fiuctuation OF
values; but the wage-earner-the first to be
injured by q deprecated currency and the
last to receive the benefit Of its correction
Ii practically defenseless. Die relies for
work upon the ventures Of confident and
contented capital. This falling him.
his condition Ia 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 fifty years ago when q
arrangement Of the currency had caused
commercial distress. said: THE very man
of all others who has the deepest interest
in sound currency and who suffers most
by mischievous legislation In money mat
tiers. 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. and ought to
impressively remind US that q failure In
the discharge Of our duty at this time must
especially injure those OF our countrymen
who labor, and who because of their num-
Der and condition are entitled to the most
watchful care OF their government
1t Is OF the utmost importance that such
relief as Congress can afford in the existing
situation be afforded at once. The maxim
He gives twice who gives quickly" is d.
rectly applicable. 1t may be true that the
EMBELLISHMENTS from which the business
OF the country Is suffering arise as much
from evils apprehended as from those &C
tually existing. We may hope, too, that
calm counsels will prevail and that neither
the capitalists nor the wage earners give
way to unreasoning panic, and sacrifice
their property or their interests under the
influence OF exaggerated fears. Nevefthe-
less. every days delay in removing enc of
the plain and principal causes of the pres
ent state Of things eniarges the mischief al
ready done and increases the responsibility
OF the government for its existence. What
ever else the people have a right to expect
that legislation condemned by the ordeal of
three years disastrous experience shall be
removed from the statute books as soon
as their representatives can legitimately
deal with 1t.
Tariff Reform Must Wait.
1t was my purpose to summon Congress
In special session early in the coming Sep
TENDER that we might enter promptly upon
the work Of tariff reform, which the true
interests Of the country clearly demand.
which so large majority Of the people as
shown by their SURFACES. desire and ex-
pect. and to the accomplishment Of which
every effort Of the present administration
Is pledged. But while tariff reform has lost
nothing Of immediate and permanent i'm
portance. and must in the near future en-
gage the attention of Congress-, 1t has
seemed to me that the financial condition
OF the country should at once and before
all other subjects. be considered by your
honorable body.
Prompt Repeal Urged.
1 earnestly recommend the prompt re-
peal Of the provisions Of the act passed
July IL $780, authorizing the purchase Of
silver bullion. and that other legislative
action may put beyond all doubt or mis-
take the intention and the ability of the
Government to fulfill it's pecuniary obli-
cations in money universally recognised
by all civilized countries.