The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1893-08-12
purchases; and has as i consequences for
the first time since it's creation, been en-
n-cooI,n1 ,,y.o, sSsa2 s35ss55gs 81. ~ rs 4

Unless government bonds are to be
constantly issued and sold to replenish
our exhausted gold, only to be again ex X.
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 gov
ernment obligations in deprecated silver.
EVILS OF uNsoUND FINANCE.
The people of the United States are
entitled to sound 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 injure them by financial expert
ments opposed to the policy and practice
of other civilized states, nor is it justi-
fed in permitting an exaggerated and
unreasonable reliance on our national
strength and ability to jeopardize
the peoples money. This matter rises
above the plane of party politics. 1t
virtually concerns every business calling
and enters every household in the land.
There is one important aspect Of the sub
ject which especially should never be
overlooked. At times like the present,
when the evils of unsound finance
threaten US, the speculator may antici-
pate harvest gathered from the misfor-
tunes of others, the capitalist may pro-
tsct himself by boarding or may even
find profit in she fuctuation of values;
but the wage. earner-the first to be in
jured by deprecated currency and the
last to receive the benefit of it's correc-
tion-is practically defenseless. He re-
lies for work upon the ventures Of conf
dent and contented capital. This failing
him, his condition is without allevia-
ton, for he can neither prey on the mis-
fortunes of others nor hoard his labor.
One of the greatest statesmen our
country has known, speaking more than
SO years ago when arrangement OF the
currency had caused commercial distress,
said: 'The very man OF all others who
has the deepest interest in a sound cur
rency and who suffers 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
Oh 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 watchful care of their gov
erpment.
IMMEDIATE RELIEF DEMANDED.
It is Of the utmost importance that
such relief as congress can afford in the
existing situation be afforded at once.
The maxim, "He gives twice who gives
quickly" is directly applicable. 1t may
be true that the embarrassments from
which the business of the country
is suffering arise as much from evils ap-
pretended as from those actually exist
| ing, We may hope, too, that calm coun-
sells will prevail and that neither the
capitalists nor the wage earners will give
way to unreaeoning panic, and sacrifice
their property or their interests under
the influence of exasperated fears
Nevertheless. every days delay in re-
moving one of the plain and principal
causes of the present state of things en-
larges he mischief already done and in
creases the responsibility of the govern
ment for it's existence. What ever else
the people have q right to expect from
congress, they may certainly demand
that legislation condemned by the ordeal
of three years disastrous experience
shall be removed from the statute books
as soon as their representatives can legi-
timately deal with it.
1t was my purpose to summon con-
gress in special session early in the COM
ing September, that we might enter
promptly upon the work Of tariff reform,
which the true interests of the country
clearly demand, which so large major
ity of the people as shown by their SUI
frages desire and expect, and to the ac-
complishment of which every effort of
the present administration is pledged.
But while tariff reform has lost nothing
of it's immediate and permanent import
ance, and must in the near,future en-
gage the attention of congress, it has
seemed to me that the financial condi-
ton of the country should at once and
before all other subjects be considered
by your honorable body.
/ earnestly recommend the prompt re-
peal of the provisions of the act passed
July Il, 1890, authorizing the purchase
of silver bullion, and that other legisia-
tive action may put beyond all doubt or
mistake the intention and the ability of
tho oovornmant tn fn1fSl1 its y,oo,,,;o,x,