Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1893-08-19
silver coin and bullion In the treasury In.
creased more than ti47 600, 600.
Irand Of fha Purohasn nv.

silver coin and bullion In the treasury In.
creased more than ti47, 600, 600.
Trend OF the Purchase Law.
Unless government bonds are to be con-
stantlv issued and sold to replenish our
exhausted gold, only to be again ex-
hausted, it is apparent that the operation
OF the silver purchase law now In force
leads In the direction Of the entire sub
stitution of silver for the gold in the
government treasury, and that this must
be followed by the payment OF all govern
ment obligations In deprecated silver.
At this stage gold and silver must part
company and the government must fall in
It's established policy to maintain the two
Given over to the exclusive use OF u cur
rency greatly deprecated according to
the standard Of the commercial world,
we could no longer claim q place
among nations OF the first class,
nor could our government claim a per-
formance of its obligation, so far as such
an obligation has been imposed upon 1t,
to provide for the use of the people the
best and safest money, IL as many OF Its
friends claim, silver ought to occupy a
larger place In our currency and the cur
rency of the world through general inter-
national cooperation and agreement.
1t Is obvious that the United States will
not be in a position to gain a hearing in
favor of such al arrangement so long as
we are willing to continue our attempt to
accomplish the result single handed.
Why Capt. Al Is TImid.
The knowledge in business circles
among our own people that our govern
ment cannot make its fat equivalent to
intrinsic value, nor keep inferior money
Oh "a parity with superior money by Its
own independents 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 withdraw n from the
channel OF trade and to lie
idle and unproductive in the hands OF
timid owners. Foreign investors, equally
alert, not only decline TO purchase Amer
lean securities but make haste to sacri-
flee those which they already
have. 1t does not mend the sit
uation to say that apprehension in regard
to the future OF our finance is groundless
and 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 dis
regarded. Possibly IL the undertaking
we have in hand were the maintenance
OF IA specific known quantity OF
silver at a parity with gold our ability to
do so might be estimated and gagged and
perhaps, in view of our unparalleled
growth and resources. might be f~avorably
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 $4,000, 900 yearly, with no fixed
termination to such increase, 1t can hardly
be said that a problem is presented whose
solution is free from doubt.
The people Of the United States are en-
titled to a sound and stable currency and
- 49, .a
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
on our national strength and ability to
ie%opardize the soundness Of the peoples
money.
This matter rises above the plane of
party politics.
1t virtually concerns every business
and calling and every household in the
land.
An important Asp oct.
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 Spectator may an
ticipate u harvest gathered from
tht VI OtIeTs, tuo
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 a depre-
ciated currency and the last to receive
the benefit Of its corrections practically
defenseless. He relies for work upon the
ventures of confident and contented capt.
tai. 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 coun-
try has known, speaking more than fifty
years ago when a arrangement OF the cur
rency had caused commercial distress,
aid; .sThs xsry mas si as ss ss
bread BY his daily toil.D
These words are as pertinent now as on
the day they were uttered and ought to
impressively remin us that a 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 govern
mem
Relief Should Be Speedy.
1t is OF the utmost Importance that such
relief as congress can afford In the exist
ing situation be afforded at once. The
maxim The gives twice who gives quickly"
is directly applicable. II may be true that
NN AAoti lS LHG OuJl-
ness of the country Is suffering arise as
much from evils apprehended as from
those actually existing. We may hope,
too, that calm councils will prevail
and that neither the capitalists nor the
wage earners will give way to %unreason-
ing panic and sacrifice their property or
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 responsibility OF
the government
Whatever else the people have a right
to expect of congress they may certainly
demand that the legislation condemned
by the ordeal OF three years disastrous
experience shall be removed from the
statute books as soon rs their representa-
tives can ~legitimately deal with 1t.
Financial Legislation Has tbs Floor.
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 de-
mand, which SO large q majority OF the
people, as shown by their suffrages, de-
sire and expect, and to the accomplish
ment OF which every effort OF the present
administration Is pledged. But while
tarif reform has lost nothing Of its i'm
heNiao uuu permanent importance ana
must In the near future engage the atten-
ton OF congress, 1t has seemed to me that
the financial condition Of the country
should at once n before all other SUBJ
jects be considered by your honorable
body. l earnestly recommend the
prompt repeal OF the provisions Of the act
passed July Ia, 1880, authorizing the pur-
chase OF silver bullion and that other
Legislative action may put beyond all
doubt or mistake the intention and the
ability OF the government to AL Its pecun-
larry obligations In money universally
recognized by all civilized countries.
GROVER CLEVELAND.
Executive mansion, August z, 1893.
Denver Is O~isappointai.