Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1893-08-10

HdL tuo opportunity We uAsc O1s
fered has not been neglected is
by the large amounts ofgold
which have been recently drawn
from N treasury and exported t
increase the financial strength O
foreign nations. The excess Of gold
over its imports for the year ending
June 3Oth; 1898, amounted to more
than $S7,500,000.
ARGUMENT AGAINST SILVER.
Between the first day OF July,
1890, and the fifteenth day of July,
1898, the gold coin and bullion in
our treasury decreased more than
$4,000. 900, while during the
same period the silver coin and
bullion in the treasury increased
more thau $147, 100000. Unless
Government bonds are to be cons
stantly issued and sold to replenish
IL exhausted gold, only to be
again exhausted, it is apparent that
the operation of the silver purchase
law now in force leads in the de
rection of the entire substitution of
silver for the gold in the Governs
ment treasury, and that this must
be followed by the payment OF all
Observation-Disclosures III d~epreci.
ated silver.
At this stage gold and silver
must part company and.t1eG overn-
ment must fail in its established
policy to maintain the two metals
on a parity with each other. Given
over to the exclusive use of a cur
rency greatly deprecated accord
ing to the standard of the commers
cial world, we could no longer
claim s place among nations of the
first class, nor could our Govern
ment claim a performance OF it's
obligation SO far as such obligation
has been imposed upon it. to pro
vide for the uae of thepeople the
best and safest money.
1t, as many of its friends claim,
silver ought to occupy a larger
place in our currency, and the
currency of the world through geno
eral International cooperation and
agreement, it is obvious that the
United States will not be in a pos
sition to gain a hearing in favor of
euch an arrangement SO long as We
are willing to continue our attempt
to accomplish the result single
handed.
The knowledge IN business cir
c'es among u own people that
our Government cannot make it's
fat equivalent to intrinsic value
nor keep inferior money on a parity
with superior money by its own
independent efforts, has resulted in
such a lack Of confidence at home,
in the.status Of currency values,
that capital refuses its aid to new
enterprises while millions are ac-
tual:y withdrawn from the channels
of trade and commerce to become
Idle and unproductive in the hands
Of tinid owners, Foreign invest
ors, equally alert, not only decline
to purchase American securities
but make haste to eacr Fl :e thos=
which they already have.
PARITY BETSEEN THE Tso METALS
DIFFICULT.
1t does not meet the Situation t
say hat apprehension in regard t
the future Of our frances is
groundless and that there is no
reason for lack Of confidence in the
purposes or power Of the Governs
ment in the premises. The very
existence OF this apprehension and
lack of COZ tIence, however caused,
is a menace which ought not for a
moment to be disregarded. Pos
sibly, if the undertaking we have
ia hand were the maintenance Of o
specific known quantity Ct silver at
a parity with god, u ability to
do SO might be estimated and
gagged. and perhaps in view of our
unparalleled growth and resources,
might be favorably passed upon.
But when our avowed endeavot
is to maintain such parity in regard
to an amount Of silver increasing
at the rate $5O,OOO,OO yearly,
with no fixed termination to such
increase, it can hardly be said that
a problem is presented whose solu-
ton is free from doubt.
The people of the United States
are entitled to a sound and stable
currency and to money recognized
as such on every exchange and in
every market of the world. Thei,
government has no right to injure
them by financial experiments op.
pose to the policy aud practice Of
other civilized States; nor is it jus.
tilted in permitting an aggregated
and unreasonable reliance on our
national strength and ability to
ieopardize the soundness of the
peoples money,
This matter rises above the plans
of party politics. 1t vitality concerns
every business and calling and ems
tiers every household in the land.
There is one important aspect of the
subject which especially should never
be overlooked. At times like the pre-.
sent when the evils of unsound finance
threaten US, the speculator may antici-
pate q harvest gathered from the misfor,
tune of others; the capitalist may pro.
tect himself by boarding or may even
find profit in the fluctuations of values.