Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-08-12

and bullion in the treasury increased
more than S147.000,0 900. Gnless govern
ment bonds are to be constantly issued
and sold to replenish our exhausted gold,
| only to be again exhausted, it is appar-
ent that the operation of the silver
purchase law now in force leads in the
direction of the entire substitution 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.
Must Part Company.
AT this stage gold and silver must
part company and the government must
fail in its established policy to main
tain the two metals on Il parity with
each other. Given over to the exclusive
use of currency greatly deprecated
according to the standard of the COM
mercial world, we could no longer
claim place among nations of the first
class, nor could our government claim
n performance of its obligation, so far
as such an obligation has been imposed
upon it, to provide for the use of the
people the best and safest money.
The Flat Question.
If, as many of its frienus claim, sill
yer ought to occupy larger place in
our currency and the currency of the
world through general international
cooperation and agreement, it is obvi-
Gus that the United States will not be
In position to gain hearing in favor
of such an arrangement SO long as we
are willing to continue our attempt to
1,e1, t1,n -, L. Al
The knowledge in business circles
among our own people that our
government cannot make its fat
equivalent to intrinsic value, nor
keep inferior money on parity
with superior money by it's own
independent efforts, has resulted in such
a lack of confidence at home in the sta
hility of currency values that capital
refuses its aid to new enterprises, while
millions are actually withdrawn from
the channels of trade and commerce to
become idle and unproductive in the
hands of timid owners. Foreign in
vestors, equally alert, not only decline
to purchase American securities, but
make haste to sacrifice those which
they already have.
"A Menace Not to BE Disregardra.
1t does not meet the situation to say
that apprehension in regard to the
future of our finances is groundless and
that there is no reason for lack of con-
fidence 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
.1, E
moment to be disregarded. Posi-
bly,, if the undertaking we have in
hand We're the maintenance of a
specific known quantity of silver at a
parity with gold, our ability to do so
might be estimated 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 silver
increasing at the rate of $4,000 900
yearly, with no fixed termination to
such increase, it can hardly be said that
problem is presented whose solution
is free from doubt.
Sound and Stable Currency.
The people of the United States are
entitled to a so und and stable currency
and to money recognized as such on
every exchange and in every market of
the world. Their government has no
right to inj them by financial eX-
periments opposed to the policy and
practice of other civilized states, nor is
it justified in permitting an exaggerated
and unreasonable reliance on our ma
tional strength and ability to jeopar-
die the soundness of the peoples
money.
Above Party Politics.
This matter rises above the plane of
party politics. 1t vitally 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 speculator may anticipate harvest
gathered from the misfortune of others,
the capitalist may protect himself by
boarding or may even find profit
in the huctuation of values; but the
wage-earner-the first to be injured by
deprecated currency and to receive
the benefit of it's correction-is prac-
tically defenseless. He relies for work
upon the ventures of confident and con-
tented capital. This failing him, his
| condition is without alleviation, for he
can neither prey on the misfortunes of
others, nor hoard his labor.
The Greatest Sufferer.
One of the greatest statesmen our
country has known, speaking more
than fifty years ago when derange.
mcnt of the currency had caused COM
mcrcal distress, said: "Thc very man
of all others who has the deepest in
terest 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 inn
pressively rraiu1 us that u failure in
the dischafp .i ulr duty at this time
| ,nrSt nSp...fH. Al inra tboca of an,