The state republican. (Jefferson City, Mo.) 1871-1896, 1893-08-17

vbylpus that the United States will not he In a
th-fticn TO gain hearing in favor Of such o.
nrrangen6n, ~ iHns ~ We are willing ~"
tnue our attempt 10 .itGbiHpl'sh tha rc.v,. ..u.
gle handed
THE EFFECT IN BUSINESS CIRCLES.
TIE knowledge in business circles among our
own people that Out government con not make
Its fiat equivalent 20 intrinsic value, nor keep
Inferior money ont parity win cuies,et money
by Its own independent efforts. has fe5ul'ed In
such lack OF confidence at home, In the sts
bflity of currency values that capital refuses
It's aid TO new Enterprises, while millions are
actually withdrawn fforh the channels Of trade
and commerce 10 become Idle tnd nuproduc.
tive In the hands Of tmid owners Foreign In
vestors, equally alert not only decline to puf!
chase American securities, but make haste to
sacrifice those wh!ch they already have,
A MENACE NOT TO DE DIsREuARpgD.
II does not meet the situation TO say that ap!
prehension In regard to the future Of our
finances is groundlcss, and that there is no
fenson for lsck OF confidence In the purposes Of
poNef of the government In the premises. Tho
very existence Gf 'h!s apprehension and lack
of confidence however pHu-cd is a
menace which ought not ~ moment
to he dlsrogarded. Possibly II tiie ttrtdet-
taking VIC have In hand were the maintcEane4
OF u specific known quantity OF silver at \
parity with gold, our ability to do so might be
estimated and gagged. and perhaps, in view of
our unparalleled growth and resources might
be fdvorably passed upon But when our
avOwed endeavors to maintain such parity in
regard 10 an amount OF silver increasing Ill .hH
rate OF CSC, 600 900 yearly, with no fixed iermina
tiUn 10 such increase, II can hardly he said that
a probfefR ~ presented whose solution is free
from doubt.
ENTITLED TO SOUND AND STABLE CURRENCY.
The people Of the United States &fr entitled
to sound and stable currency, and to money
recognized Us such on every exchange and IL;
every market Of the world Their governments
has no right TO injure them 10y financial expert
ments opposed to the policy and practice Of
other civilized states nor, is it Justified In per
mitting an exaggerated and unreasonable ro
LANCE In our national strength and ability to
jeopardiLc the soundness OF the peoples
money.
ABOVE THE PLANE OF PARTY POLITICS.
This matter rises above the plane of party
politics. II vitality concerns every business
and calling and enters every household in the
lnhd. There is one important aspect of the
subject which especially should never be over
looked. At times like the present, when the
evils OF uhs6und finance threaten us, the
specuator may anticipate harvest gath
cred from che misfortune ~ others,
the capitalist may protect hilHseFbt fr,r'tdins
or may even find profit in the fiuctuation OF
values; but the wage earner-the first TO he In
juted by a deprecated currency and the last to
receive the benefit OF its correction-is pract
cally defeuseless. He relies for work upon the
ventures of conhdeti: rnd contcnted capital
This failing him his condition ;- without al
deviation for he can neither prey on the mis-
fortunes OF others nor hoard his labor,
PERTINENT WORDS.
One OF the greatest statesmen our country
has known, speaking more than nifty years
I ago when a arrangement OF the currency had
caused commercial distress. said: The very
| man OF all others who has the deepest interest
| In sound currency and who suffers most by
! mschierbus legislation in money matters is
| the ffidn who earns his daily read ty
| his daily toll" These words are as pertinent
| now as on the day they Terc utter
| cd, and ought to impressiyely remind us that :
| failure in the dischargc of our duty at this time
must especially injure those Of our countrymen
who labor. and who. letause OF their number
| and condition, are entitled to the most watch
| full care Of their government
THE DUTY OF CONGRESS.
| II is OF the utmost Importance that such re-
lief as congress can afford in the existing s!tu-
alton be afforded at once. The maxim: He
gives twice who gives quickly" is directly ap.
plcable. 1t may be true that the embarrass'
ments from which the business OF the country
Is suffering arose as much from evils
| apprehended as from those actually existing.
| We may hope, too that calm counses will pre-
vail, and that neither the capitalists nor the
| wage .earncrs will give wa to unreasoning
panic, and sacrifice their property or their in.
| forests under the influence OF exaggerated
| fears.
| DELAY ENHANCES THE DANGER.
| Nevertheless, every days delay in removing
one Of the tlain ind principal canscs OF the
present stdte 0t things enlargcs the mischief
already done and increases the responsibility
| OF the government for its existence. What.
| ever else tic people have Fight to expect
from congtess, they MAY certainly de.
mand that legislation condemned hy
| the ordeal OF three years disastrous
| experience shall he removed from the statute
books as soon as their representatives can
legitmately deal with them.
| TARIFF REFORM TEMPORARILY sIDE.TRACKED.
II was my purpose to summon congress in
special session early In the coming sep.
| tember that we might enter prompt
ly upon the work OF tarifr reform,
which the true interests OF the country
| clearly demand, which so large q majority Of
the people as shown by their su1rages desire
and expect, and to the accomplishment Of
| which every effort OF the present administra.
| tion Is pledged. But while tarin reform has
lost nothing OF its immediate and permanent
Importance, and must in the near future engage
the attention Of congress, it has seemed to me
| that the financial condition OF the country
should at once and before all other subjects
be considered by your honorable body.
REPEAL OF THE SHERMAN ACT.
Earnestly recommend the prompt repeal Of
the provisions OF the act passed July II, 1890
authorizing the purchase OF silver bullion
and that other legislative action may
put beyond oil doubt mistake
the intention and the ability of tho
government to flll its pecuniary obligations in
money universally recognized by all civalized
countries.
[Signedl GROVER CLEVELAND.
Executive Mansion, Aug. 7, 1909
The message was listened to with in.
tense interest by the members of the
house, and at the conclusion of its
reading was greeted with general ap-
plause not confined to any section OF
the chamber.
The Michigan election case pending
between Richardson and Belknap was
then taken up.
SENATE.
The senate met at noon, and after
J the morning routine took recess un
til 12:45 to await the arrival of the
presidents message.
Rev. Mr.. Milburn, the new chaplai,
Of the senate, made the opening prayer
The journal of yesterday was reaG
by the new secretary of the senate, Mr.
Cox.
The credentials of Mr.. George G
Perkins, under the appointment of the
governor of California, in place of the
late Senator Stanford, were presented
and read, and the oath of Office was ad
ministered to the new senator.
TELEGRAPHIC BREVITIES.
Retrenchment and salary cutting is going oil
among all the big railroad corporations.
1t is understood that George Dixon and Soil.
Smith will meet, sometime In September, be
fore the Coney Island Athletic club and DISPUTE
! for possession OF sio,ooO purse.