The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-08-10
southern conErsssmen.

Southern Congressmen.
do those southern congressman who do
not favor the prompt and unconditional
repeal Of the ver-puvchase clause OF the
Sherman law represent the views Of their
constituents We do not believe they do.
They may represent tho views Of some OF
them, but not Of the great majority.
The question as to where the money Is
10 be obtained to move the cotton crop is
"a serious one The cotton factors and
the banks are discussing it, and unless
relief comes soon in some shape the cot
ton growers will be discussing il before
many days II money in sufficient vol
umc and al fair rate OF interest cannot
be obtained the price Of cotton Will
be forced down 10 the lowest possible
point As last resort money might be
obtained from Europe TO move the crop,
| but no European house would send money
here to be used in the purchase of cotton,
| except upon terms extremely advanta
/ geous to that house. 1t must be apparent
/ to every cotton grower therefore that it
/ is to his interest that something shall be
| done that viii restore confidence in the
| financial situation to such an extent that
| the money that is now boarded in strong
/ boxes and locked up in the banks will be
! put into circulation There is no question
about there being enough money
! for all purposes. There is more money
now than at any previous time in the his
| tory of the country. The reason it is not
in circulation is that there is doubt as to
what the course of the government viii
h.. - l. /.
the policy Of maintaining parity between
gold and silver currency will be adhered
to. Before money will be offered freely
and upon reasonable terms to borrowers
this doubt must be removed.
There is no question as to the way
this doubt can be removed. The Presi-
dent points it out in his message, and
nine-tenths Of the business men of the
country agree with him. He says the
purchase of silver bullion should be
stopped at once. A long time ago he said
the purchase of silver bullion by the gov
eminent would eventually produce finan-
cial disaster and it is now admitted that
he was right. And he is right when he
recommends that government purchases
Of silver be stopped.
Those southern congressman who say
they will not vote for the unconditional
repeal of the silver-purchase clause of the
Sherman law, declare that they are bimet-
allists and believe in the use of silver as
money. Suppose they do 1t does not fol-
low that they will nothavea chance to get
such legislation as they want in respect
TO silver If they should vote to promptly
stop the purchase Of silver. The prompt
repeal Of the law authorizing the govern
ment to buy silver-a law which the ma
tional democratic platform charac-
terizes as miserable make-shift
will not prevent legislation
in respect to silver. The repeal of the
law is not demanded because it is thought
that such action will settle the silver
question, but because it viii restore con-
fidence and open the way to return Of
business prosperity. Provision for BIZ
meJallism can be made just as well after
the law is repealed as before. Those who
refuse to vote for repeal until provision is
made for silver must be afraid that silver
cannot stand upon it's merits, and that the
only hope for it is to bulldoze congress
into making concessions to it.
The Democratic party is pledged to take
care of silver, but in such a way that
gold and silver currency will circulate on
parity. The party is distinctly com
mitted against debased silver currency,
and any attempt to force upon the country
such a currency would be resented.
1t will take time to settle the silver
question: much longer time than the
country can safely wait. A condition of
affairs exists that calls for the promptest
congressional action. interests involving
hundreds of millions of dollars are
threatened with ruin. Disaster to them
! is prevented only by the hope that CON
gress will do something quickly to restore
confidence.
What can congress do that will restore
confidence The President says stop the
! purchase of silver, and business men in
all parts of the country say the same
thing.
| On what ground, then, can those south
| ern congressman claim TO represent their
! constituents who say that months must
/ be wasted in finding substitute for the
/ Sherman law before the relief for which
/ the people are so anxiously waiting can
/ be granted Do they know what delay
! in granting relief means2 1t means
bankruptcy to thousands of people who
are solvent and who will remain so if
congress does Immediately what it should
! do 1t means ruin and distress through
! out the whole country.
Common sense says stop the purchase
! of silver at once, and afterwards set
tie the silver question. The merchants
in every town in this state, and every
other southern state, and the cotton
growers in every county should meet in
their respective communities and adopt
| resolutions urging their representative in
congress to do what is demanded to re-
store confidence, namely, repeal the
law which authorizes the purchase Of
silver.
Opinion OF an optimist.