Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1893-08-12

ought to occupy larger place in our
and the currency of the world
through general international cooperation
and agreement, it Is obvious that the
United States will not be in position
to gain hearing in favor of such an
arrangement SO long as we are Wiling
to continue our attempt to accomplish
the result single-handed.
The .'Parity'' Problem.
The knowledge in business circles
among our own people that our govern
ment cannot make its fiat equivalent to
intrinsic value, nor keep inferior money |
on parity with superior money by Its
own independent efforts, has resulted IN |
such lack of confidence at home, i'll the
stability Of currency value, that capital
refuses its aid to new enterprises, while
millions are actually withdrawn from the
channels of trade and commerce TO De-
come idle and unproductive in the hands
of timid owners. Foreign investors,
equally alert, not only decline to pur-
chase American securities, but make haste
to sacrifice those which they already
have.
IT does not meet the situation to say
that the apprehension in regard to inc
future of our finances is grounuiess' anu
that there is no reason for lack OF conll-
dcnce in the purposes or power OF the
government in the premises. The very
existence of this apprehension ana lack
of confidence, however caused, is men
ace which ought not for moment TO De
disregarded Possibly if the undertake
ing we have in hand were the maintel-
ance of a specific known quantity OF sill
yer 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 De laVor-
ably passed upon. But when our ayowed
endeavor is to maintain such parity III re-
gard to an amount of silver increasing
at the rate of fifty millions of dollars
yearly, with no fixed termination TO such
increase, it can hardly be sad that
problem is presented whose solution Is
| free from doubt.
sound Currency Essential.
The people of the United States are en-
titled to a sound and stable currency
and to money recognized as such on every
exchange and in every market OF 'he
world Their government has no right TO
iniure them by financial experiments op-
nosed to the policy and practice of Other
civilized states, nor is 1t Justlnen III per
hitting an exaggerated and uhreasohaole
reliance on our national strenGh anu
ability to jeopardize the soundness OF 'he
peoples money.
This matter rises above the plane OF
party politics. 1t concerns every pus'
mess and calling and enters every house
hold in the land.
There is one important aspect OF 'he
subject which especially should never De
overlooked. At times like the present.
when the evils of unsound finances threat
en- us, the speculator may anticipate
harvest gathered from the misfortune %
others; the capitalist may protect hiliisei'
Inv boarding or may even find proht IL
the fluctuation of values; but the wage
o.rner-the first to be injured by .
dcnreciated currency and the last to re
ceiye The benefit of its correction, Is pfac
tically defenseless. He relies Tor worl
unon the ventures of confident and con
tented capital. This failing him, his con
, dtion is without alleyiation, for he cal
nnither prey on the misfortune OF others
y nor hoard his labor. One of the creates
n statesmen our country has KNOWN speah
|. ing more than fifty years ago Wheh
: arrangement of the currency had cause
O comercial distress, said; =,
!. "The very man of all others VINO Ma
/. the deepest interest in sound currehc
= orl who suffers most by mischleyous leg
y ;clot;on in money matters, is the man WI
g aorns his daily bread by his daily toll
!. Tbese words are as pertinent now Il
a an tho day they were uttered, ana ougi
J. to impressively remind us 'hat a a.. la.iu, .;',
|. in the discharge of our duty at this '''i'
Q must especially injure those OF our coul
!. trvmen who labor, and who, because Q
= their number and condition, are entiue
y 20 ,ho most watchful care Of their eo'
e ernment.
prompt Action Necessary.
T. 10 of the utmost Importance Una
:. ,,ob ralef ms congress can AFFORD Ill III
n visiting situation be afforded at one
Il Tha maxim that he gives twice who gN'
II ouickly is directly applicable. IL may |
10 true that the cmbarasslnen's from " WIG
nf the business of the country IS suner'i
to or;se os much from evils apprehended
from those actually existing. we ma
no hnno foo. that calm counsels will preval
.s nnJ that neither the capitalist nor u
TO woge-earners will give way to uhreaso
in ;na manic and sacrifice their property
90 .he;r interests under the influence OF G
i ,or,ted fears, Nevertheless evei
or dov's delay in removing one OF the pia
nd AMI principal causes of the present sta
IN af ,h;ncs enlarges the mischief alrca'
nd done and increases the respohsloii's
er tho government for its existence
as Whatever else the people have rig
in IN expect from congress, they may &C
to;nlv demand that legislation condenh'
.ts hv the ordeal of three years disastro
IN. osnor;ence shall be removed from u
10 statuto hooks as soon as their represent
nd t;ves can legitimately deal with it.
he Tariff Reform Postponed.
II was my purpose to summon congre
mt IN snccinl session early in the conn
nj Sa,tamber that we might enter promp'
nv mon the work of tariff reform, which I
re true interests of the country clearly
Die mand, which so large a majority OF
he kmople as shown by their suifrages,
ry, Sire and expect, and to the accomph'
I'd. ment of which every effort of the prest
oe administration is pledged But while
ed IN reform has lost nothing of its INN
date and permanent Importance, a
mt must in the near future engage the
ro- tention of congress, it has seemed to
on that the financial condition of the co.
the try should at once and before all otl
The subjects, be considered by your honora
by body. ,.
md l earnestly recommend the prompt
neal of the provision of the act pass
ese July IA, 1890, authorizing the purch
ed. Of silver bullion and that other legiS
dit tive action may put beyond all doubt
BILE mistake the intention and the ability
mr.. the government to fulfill its pecuniary
sh- legations in money universally recognl
by nil civilized countries
GROVER CLEVELANl
oa Executive Mansion, August Z, 1898.
ehl sEASONABLE YARNS.
'a, A FISH was caught In the lake
VI yyos1hrorr Gvahin In the wear Ia