Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1893-08-18
She,tamdnah Gerald
ADVERTISING RATES.

our own people that our Government cannot
make its fat equivalent 10 intrinsic value.
nor keep inferior money on parity with
superior money by its own independent ~,
forts has resulted in such lack OF col
fdence at home. in the st8bilityot currency
values, that capital refuses its aid 10 nov en-
terprises while millions are actually with
drawn from the channels OF trade and CON.
merce TO become idle and uDproductiye in
discredIt and depreciation a. obligation,
payable only in silver. and would des,rOyth,
parity between the two metals by establish
inc a dis elimination IN favor % gold
Up 10 the 18TH day Of July. 1893. thes,
notes had been issued in payment Of silye
bullion purchases 10 the amount Of mOr
than S147. 100000
While all but very small quantity Of this
bulIion remains uncOined ani without use.
f1Iness in the Treasury. many Of the notes
given in its purchase have been paid in gold.
GOLD RESERVE NOT SPARED.
The policy necessarily adopted OF paying
these notes in gold has not spared the gold
reserve Of 500 900. 900 long ago set aside by
the Government for the redemption Of other
notes. for this fund has already been sub.
iected to the payment Of new obligations,
amounting to about Sl50.OO0.OJJ on account
ofsilyer purchases. and as consequent Tor
the first time since its creation been en-
croached upon.
OTHER NATIONS PaoTITED.
We have thus made the depletion ot our
gold easy. and have tempted other ani more
app-eciatiye Nations to add il % their stock.
That the opportunity We have offered mas
NOT been neglected is shown by the large
amounts of gold which have been recently
drawn from our Treasury. and exported 70
increase the financial strength OF foreign
Nations. The excess Of exports OF gold over
its imports for the year ending June 80 loJ5'
amounted TO more than SS7. 10000.
THE SILVER DANGER.
Between July /. 1890. and July Is. 1923,
the gold coin and bullion in our Treasury
money recognized as suca on every exchange
and in every MARKET in the world. Their
Government has no right to injure them by
financial experiments opposed 10 the policy
and practice Of other civilized States, morris
it justified in permitting an exaggerated and
reliance on our National
strength and ability 10 jeopar1ize the sound
ness Of the peoples money.
NOT PARTY MATTER.
This matter rises above the plane OF party
politics. II vitality concerns every business
and calling and enters every household IN
the land There is one important aspect OF
the subject which especially should never Oe
At times like the pres mt. when
the evils Of uasOuni finance threaten us. the
speculator may anticipate harvest gathered
from the misfortune OF others, the capitalist
may protect himself by boarding or even
NAV find profit in the fuetuation OF values,
but the wage earner-the first 10 be injured
by a deprecated currency and the last TO re-
ceve the benefit Of It's corrections-is practi-
cally defenceless He relies for work upon
the ventures OF confident and contented capt.
tai. This failing him. his condition is with
out alienation. for he can neither prey on
the mis'ortunes oi others nor hoari his labor.
wAGz EARNERs MOST AFFECTED.
One Of the greatest statesmen our country
has known. speaking mors than fifty years
ago when a arrangement 9th curreneyhad
caused commercial distress. said
The very man OF all others who has the
deepest interes; in a sound currency and who
suffers most by misshieyOus legislation IN
money matters is the man VINO earns his
daily bread by mis- daily toll.
These wOris are as pertinent now az on
the day they We're uttered AMI ought 10 i'm
pressiyely remind Us that failure in the
discharge Of our duty at this time must
especially injure those OF our c0untrymen
VINO labor, and who, because OF their num-
Der and condition. are entitled 10 the most
witchful care o. their Government.
CONGRESS SHOULD ACT At ONCE.
1t is of the utmost importance that such
relief that Congress can afford in the exist
ing situation be afforded az once Tho
maxim. He gives twice who gives quickly.
is directly applicable. Il may be true that
The embarrassments from which the business
Of the country is suffering arse as mueh
from evils apprehendet as from thoss
actually existing. We may nope 100;
that calm counsels will prevail, and
that neither the capitalists nor the wase
earners will give way % unreasoning pan
ic and sacrifice their property or their IN
terests under the influence ot exaggerate1
fears. Nevertheless. every days delay IN re-
moving one Of the plain and principal causes
Of the present state of things enlarge, the
mischief already done and increases the re-
spOnsibility OF the Government ior us exist
ence. Whatever else the people have rignt
10 expect from Congress they may certainly
demand that legislation condemned by the
ordea! OF three years disastrous experience
shall be removed from the statute BOOKS a.
soon as their representatives scanleglslatlYey
deal with IT,
As To TARIFF REFORM.
II was nv purpose 10 summon Congress in
special session early in the coming septem-
her. that we might enter promptly upon the
work OF tariff reform. which the true inter
ISIS of the country clearly demand. which 50
large a majority Of the people as shown by
their suffrages. desire and expect, ana
to the accomplishment Of which every
officer Of the present administration l.
pledged. But while tariff reform has lost
nothing OF it, immediate and permanent in
portance. and must in the near future engage
the attention of Congress. it has seemed q
me that the financial condition otthe country
-hould AZ once ard before all other subject,
be considered by your honorable body.
PROMPT REPEAL RECOMMENDED.
earnestly recommend the prompt repeal
Of the provisions Of the act passed July IL.
1890. authorizing the purchase OF silver Dul-
lion. and that other legislative action may
nut beyond all doubt or mistake the nten-
lion and the Government 10 fulfill IFS pecuni-
ary obligations in money universally recos-
piled by all civilized countries.
GROVER CLEVELAND.
Executive Mansion, August T. 1893