The Somerset reporter., 1893-08-10

L. IS ea = partly with each other
& - over - lie exclusive Use II eur
rene5 g-'atIy depreciated according to tn
STANDARD Of the commercial world ~
{ nd ~ longer citiin IA place among IA
tions ef tae frat ciass, nor could our gov
erumen' claim performance Of is Dpll-
CATION, 80 ar as such an obligation Aas
b"ea imposed upon il to provide for fne
Use Of th- people the best and safest
money
II, a. many Of its friends claim, silver
ought to ccslpy a larger place in our cur
rcncy and the currency # the world
through general international cooperation
and agreement it is obvious that the United
States will not be- in a position to gun 4
hearing in favor Of such all arrangement
50 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 IN
not make rs fiat equivalent 70 intrinsic
value, nor keep inferior money On a parity
with superior money by its own indeprnd
eht efforts has resulted in
Such Lack Of Confidence
at home in the stability Of currency val
ues that capital REFUSES its aid 10 new IN
terprises while millions are actually
Withdrawn from the channels Of trade and
commerce TO become idle and unproduc
tive III the hand, 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 70 the future
OF orr finances Is grpundip,-. ana that
there i, no reason for lac. Of confidence in
the purposes or power Of the government
in the prem So.
The very existence Of thi- appreheas Oh
and laci, of confidence. however CAUSED,
a menace which ought not for moment
to be d~regarded.
Possibly If the undertaking We have iu
hand were the maiuteuauc. Of a specific
known quantity oil silver a. he parity NJ.
gold, GU ability u do 50 might be e-ti
mated and gsuted, and. p-rhap., IN Vi"
of our urparalled growth and resources
might he tavorably passed upon But
when our avowed endeavor is Ia maintai.
such parity in regard to an amount Of sil
yer increasing at the rate Of Sll,Dp1.oJ
yearly, with no fixed termination to suct
increase, il AN hardly be said that "a prgt,
lem Is presented whose solution i, free
from doubt
The people Of the United States are ell
Titled to sound and ST bic currency am
to money recognized As such on every ey
change and in every market OF the world.
| Their government has no right to impure
them by financial experiments opposed 90
the policy aud prae5ice Of Other civ lid
states. nor is it justified III PERMITTING an
eNapeerltcl and unreasonable reliance or
our national strength and ability to jcop
ardi2e the ,oiindncS, Of the peoples MONEY.
This mat.er ris : above the
rr,,,. of Party Politics.
7, ,.i..,1,,. 5.,,,.,.., ,.,....,. i,,,5t,o.g M.
aal,f,,', .,,l ..,,,..r. .,.., i,,,,.sl,,ld in tI
Ia,,1 ~, ,,,,,, ,.a,, e 49,
H. -, ,.-,,..si,il, .In,,la ,,.,..r .
o,.',,f5'.l,,.5
,,ro..,t Who, th.,.,.f.
of ,n5,,,,,d f,,,,rr.. ,br,.',t.r NJ tbe .,.er,
i,,t,,,.,..,r ,,,,icin,t. , borva.t ,,oti{.r.f
fro,, ,I,. i.f,r,i,na If others tho cani
talist may protect himself by boarding or
may even md profit in the iluetuation Of
values: bu, the wage earner-the first t,
he fniurr,I by 4 deprrciated currency and
/ the last 30 receive the benefit Of its correc.
4 tiou is practically defcuceless. He r. lie.
for work upon the ventures of confident
and contented capital This failing him,
I his condition j. without alleviation Ter b,
can neither prey ON the misfartune9 Of
other, nor heard his labor
Que of the greatest statesmen uur c5an
try has known. spanking more thaa
wears ago, when a drrangenient Of III,
currency had caused commercial distre>~
+ said: tn " man Of ali others who ,ia-
1 IL,