The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1893-08-11

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and agreement it is obvious that the United
States will not be in position to gain a
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 Lack of Confidence
at home in the stability of currency val
ues that capital refuses its aid to new en-
terprises while millions are actually
withdrawn from the channels of trade and
commerce to become idle and unproduc-
tive in the hands of timid owners
Foreign investors equally alert, not only
decline to purchase American securities,
but make haste to sacrifice those which
they already have
1t does not meet the situation to say
that apprehension in regard to the future
of our finances is groundless, ana 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
a menace which ought not for a moment
to be disregarded.
Possibly if e undertaking we have in
hand were the maintenance of a specific
known quantity of silver as the parity with
gold, our ability to do so might be esti-
mated and gauged, and, perhaps, in 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 sill
yer increasing at the rate of $50 900, 900
yearly, with no fixed termination to such
increase, it can hardly be said that prob
lem is presented whose solution is free
from doubt.
The people of the United States are en-
titled to 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 to jeop-
ardize the soundness of the peoples money.
AAAo lAoSo dDONO buO
Plane of Party Politics.
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 finances threaten US, the specu-
lator may anticipate harvest gathered
from the misfortune of others, the CAPT
talist may protect himself by boarding or
may even find profit in the fuctuation of
values; but the wage earner-the first to
be injured by deprecated currency and
the last to receive the benefit of its correc-
tion--is practically defenceless 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 heard his labor.
One of the greatest statesmen our coun-
try has known, speaking more than so
years ago, when a arrangement of the
currency had caused commercial distress,
said: 1.-THE very man of all others who has
the deepest interest In a sound currency
and who suffers most by mischievous
legislation in money 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, and ought to
impressively remind us 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
WatchfuI Care of Their Government.
1t is of the utmost Importance 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 embarrassment from which
the business Of the country is suffering
arise as much from evils apprehended as
from those actually existing.
We may hope, too, that calm counsels
will prevail and that neither the capital
lists nor the wage earners will give way to
unreasoning panic and sacrifice their prop
erty or their interests under the influence
of exaggerated 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 increase the responsibility Of the gov
eminent for its existence. Whatever else
the people have right to expect from con-
Eress they may certainly demand that leg
islation condemned by the ordeal of three
Years. disastrous experience shall be re-
moved from the statute books as soon as
their representatives can legitimately deal
with it.
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 suffrages,
desire aud expect, and to the accomplish
ment of which every effort of the present
administration is pledged. But while
tariff reform has lost nothing of its i'm
mediate and permanent Importance, and
must, in the near future engage the at
tention of congress, it has seemed to me
that the financial condition of the country
should at once and before all subjects be
considered by your honorable body.
/ 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 legislative
action may put beyond all doubt or mis-
take the intention and the ability Of the
government to fulfil its pecuniary obliga-
tions in the money universally recognized
by all civilized countries.
GROVER CLEVELAND.