The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-15
THE COUNTRY Is WAITING.

The naticnai ADMINISTRATION hss done nothing
thus far except 70 create in the minds OF buxi-
nese men deep cis:Yust TEE financial sifua-
tscn.which for the most part has prevailed sincs
the eth OF March, has not been improves. nor
has the financial strineency been relieved By
anything the national administration has said
q doae. II h.s announced no policy. sug.esscd
no relief and givea no sixa Of its disposition or
ability TO restore confidence. stop the outflow OF
gold to fore. On countries and the contraction
which las taken place a. home. The one hum
dsed millions OF gold reserve which ar. Clsve-
land In his 6rx. standardization set spars as .
sacred fund 70 receem the greeubacks. aad
which sum he dedicated 70 thai purpose ana 10
other. be has been the first. siusnsa.iy enough.
70 encscacn utson-tAe frss 10 drop below the
hundred million line which hs himself had es-
tablisned as the only lire of safety. He an
nouuced in 1855 that tbs sum OF one hundred
millions was . trust fund for the REDEEM asicn Ok
Ire gseeabacks OF the government Prior 10
that time IL had been carried GA the debt state
m=ut IS any other cash balance In the treasury.
available for the payment o: any obligation
OF the government, NJ. Cleveland fxed that
sum, below which tie government should lot
60, and could not 70 IL honor and good faith.
thus creating ia the minds OF ths p.ople the
feeling that tnis was the danger line and that TO
cross II meant financial dishoaor and tue viola
ton OF plighsed faith so. when he was CON-
pei.ed to cross ii, as he has been several times
since the 4sh OF March. is il to be wondered at
that serious apprehension and insecurity every
where prevail: Mr.. Cleveland's course has JUS
titled the alarm. He put up the danger signal
and the country took note OF it and was natur-
ally miftrustful aad disturbed.
The Democratic victory OF 1892 has not been
able to bring the better times promised. 1t has
not been able 10 maintain the good times which
were enjoyed in this country everywhere GA the
day OF the victory. Business failures have in
creased, banks have suspended. money Is harder
to borrow and borrowers are compelled TO pay
higher interest for their loans than for
many years. Fcversh uncertainty prevails in
every financial and busiuess circle. Labor aud
capital ere In doubt about the future. This has
been our condition for two months, and no
cnangs for the better il ct this moment apps
rent.
1t may Be said that the new administration IL
not responsible for the condition which is upon
US II u 90 asserted, aud will be again. that
this condition ought not to be chargeable TO il.
produce it and can do nothing 70 prevent ii. l
conceds you that II nothing can be done by the
administration or congress 70 relieve the situa-
ton chen the administration should not be
held accountable. But 10 this truef II today
the president should ofiicislly and authorita-
lively announce that there would be no change
ia the industrial legislation Of the country. and
that the financial situation would be met and
solved upon that standard Of tnspcial honor
and national good faith which has guided the
Republican party since its installation to power
in 1861. confidence would at once come back.
Would It not? Does anybody doubt 1t? secur-
lily would displace alarm? Faith in the future
so Indispensable to easy money aud good
times-wouid be restored; gold would stay at
home. and money would go from it hiding
place into the great avenues OF business. where
IL belongs. II it Is true, a. the administration
boldly proclaims, that our financial distress 10
occasiCued by the silver purchase law. which
requires the government to buy 4.5000oO ounces
OF silver every month ard issue treasury notes
therefor, then why does not the administration
convene congress aud repeal that iaw.--From
Cor. 4cKialeys Speech at Columbus. Janea