Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1893-08-11

dence at home in the stability Of cdrrency |
value that capital refuses its aid to new
enterprises while millions are actually |
withdrawn from the channels of trade and /
commerce to become idle and unproduc- |
tive in the hands of timid owners For
eign investors equally alert, not only de- |
cline-to purchase American securities but |
make haste to sacrifice those which they |
already have 1t does not meet the situa-
tion to say that apprehension in regard to
the future of our finances is groundless and !
that there is no reason for lack of conf
dence in the purpose or power Of the gov
ernment in the premises. The very e1ls-
tence of this apprehension and lack of con-
fidence, however caused, is a menace
which ought not for moment tot be dis
regarded Possibly if the undertaking we
have in hand were the maintenance of
specific known quantity of silver at par
ity with gold, our ability to do so might be
estimated and gauged, and perhaps IN
view of our unparalleled growth and res
ources, might be fayorably passed upon
But when our avowed endeavor Is to nam,
tain such parity in regard to an amount OF
silver increasing at the rate of fifty mil
lions of dollars year, with no liked terml-
nation 10 such increase, it can hardly be
said that problem is presented whose SOL
ution is free from doubt.
The people of the United States are en-,
titled to q sound and stable currency anu
to money recognized as such on every eX-
change and in every market of the world
Their government has no right to lnJure
them By financial experiments opposed 10
| the policy and practice of other clVlhzeo
| States, nor is it justified IN permitting an
| exaggerated and unreasonable relance Oh
| our national strength and ability to Jeop-
| ardize the soundness OF the peoples Ihon-
| ey. of rar-
tv politics. It vitally concerns every BUS
| mess and calling and enters every mousse.
| hold 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 unsonnd
finance threaten us, the spectator may
Anticipate harvest gathered from the
p45tect bfmat at bs bero oataa fah 68PlHase 81 ay ~e
lind profit in the fluctuations OF values;
but the wsge earner-the first to be inJur-
ed by a deprecated currency and the last
to see the benefit of its correction-is prac-
ticsllv defenseless He relies for work
upou the venturer Of confident and con
tented capital This failing him his condl
tion il without alienation tor he can nelth-
| er prey on the misfortunes OF others, nol
hoard his labor One of our greatest
stat esmen our country has known, speak
ing more than fifty years ago when de,
rangement of the currency had caused
commercial distress, said 1.-The very man
of all others who has the deepest interest
in a sound currency and who suffers mos'
by mischeivious legislation in money mat,
tiers is the man who earns his daily oreao
By his dailyltoil."
These words are as pertinent now a. on
the day they were uttered, and ought to
impressively remind us that failure IN
the discharge of our duty at this time must
especially iniure our countrymen VINO laDoI
and who, because oftheir number and condl'
tion. are entitled to the most watchful care
of their government.
1t is Of utmost Importance that such re-
liei as Congress can afford in the existing
situation be afforded at once. The maxim,
'He gives twice who gives quickly" Is di-
rectly applicable 1t may be true that the
embarrassments from which business oi
the country is suffering arise as much from
evils apprchended as from those actually
existing. We may hope too, that calm
counsels will prevail and that neither the
capitalists nor the wage earners Will give
way to unreasoning panic and sacrihce
their property or their interests under tne
influence of exaggerated fears. Neverthe-
less. every days delay in removing one oi
the plain and principle causes OF the pres
ent state of things enlarges the mischief
already done and increases the responslbh
ity of the government for its existence.
Whatever else the people have right to
expect from Congress, they may certain ~
demand that legislation condemned by the
three years disastrous experience shall dc
removed from the statute books as soo1 az
i their representatives can legitimately deal
with it. 1t was my purpose to summon
Congress in special session esr,y IN the com
ing September that we might enter prompt
ly upon the work of tariff reform, which
the true interests of the country clearly de-
mand, which so large a majority OF the
people as shown by their suffrages desire
and expect, and to the accomplishment o1
which every effort of the present admins
tratiOn is pledged. But while tariff reform
has lost nothing of its immediate and per
manent importance, and must IN the near
future engage the attention OF Congress, II
i has seemed to me that the financial condi-
tion of the country should at once and be-
fore all other subjects, be considered by
your honorable body.
| earnestly recommend the prompt re,
peal of the provisions Of the act passed
July IA. 1890, authorizing the purchase OF
silver bullion and that other legislative ac'
ton may put beyond all doubt or mistake
the intention and the ability of the govern
ment to fulfill its pecuniary obligations IN
money universally recognized by all civil
lized countries GROVER CLEVELAND
After the reading of the message bills
were introduced in both houses to repeal
the section of the Sherman law referred to,
and also one in the Senate favoring free
coinage, which brought about an acrimo-
nious debate; and both houses adjourned
till next day.