The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-09

keep inferior money on a parity with
superior money by its own independent
Efforts, has resulted In such lack OF
confidence at home in the sta
biity OF currency values, that
capital refuses its aid to new
enterprises. while millions are actually
Withdrawn from the channels Of trade
and commerce to become idle and unpro-
ductive in the hands Of timid owners.
Foreign investors, equally alert, not only
decline 10 purchase American securities.
but make haste 10 sacrifice those which
they already have. Il does not meet the
situation TO say that apprehension In
regard TO the future Of our finances is
grOundless. and that there is TO reason
for lack OF confidence In the purposes or
power OF the government in the prem
ises. The very existence Of this appre-
hensicn and lack OF confidence. how
ever caused, Is a menace which ought
not for n moment to he disregarded.
Possibly II the undertaking we have I'm
hand were the maintenance OF a specific
known quantity OF silver at n parity
with gold. our ability TO do so might be
estimated and gaugcd, and perhaps I'm
view Of our unparalleled growth and re-
sources. might be favorably passed upon.
But when our avowed endeavor is 10
maintain such parity in regard to an
amount OF silver increasing at the rate
Of fifty millions Of dollars yearly with
no fixed termination to such increase.
| II can hardly be said that a problem
| is presented whose solution is free from
doubt.
Entitled 80 Sound Money.
The people OF the United States are
entitled 10 sound and stable currency,
and 10 money recognized as such on
every exchange and in every market Of
the world. Their government has no right
10 injure them by financial experiments
opposed to the policy and practice OF
other civilized States. nor is II justified
in permitting an exaggerated and unrea-
sonable reliance on our national strength
and ability TO jeopardize the sOundness
OF the peoples money.
This matter rises above the plane Of
party politics. 1t vitally concerns every
business and calling, and enters every
household in the land. There is one
important aspect Of the subject which
especially should never be overlooked.
At times IKE the present. when the evils
OF urcOund france threaten us, the spec
ulator may anticipate harvest gathered
from the misfortune OF others. The CAPT
talist may protect himself by boarding
or may even find profit in the huctuation
OF values, but the wage-earner, the first
TO be injured by a deprecated currency,
and the last 10 receive the benefit OF
its correction is practically defenseess.
lie relies for work upon the ventures Of
confident and contented capital. This
failing him. his conditonis without allie
Walton, for he can neither prey on the
misfortunes of others. nor hoard his
labor.
The Wage Garner Suffers Most.
One Of the greatest statesmen our
rtr hag III
fifty years ago. when a arrangement OF
the currency had caused commercial dis
tress, said: 1.-THE very man Of all others
who has the deepest interest in a sound
currency, and who suffers most by mis-
chievous legislation in money matters. is
the man who earns his daily bread by
his daily toll"
These words are as pertinent now as
on the day they were uttered. and ought
10 impressively remind us that failure
in the discharge Of our duty at this time
must especially injure those of our coun-
trymen who labor, and who because OF
their number and condition are entitled
TO the most watchful care Of their gov
ernment.
Give Relief nj Once.
II Is Ct the utmost Importance that such
relief as Congress can afford IN the ex-
listing situation be afforded at once The
mas i'm. "He gives twice who gives quick
ly" is directly az plioabe II may be
true, that the embarrassments, from
which the business Of the country is
suffering. arise as much from evils ap-
pretended as from those actually exist
ing: we may hope. too. hat calm counsels
viii prevail, and that neither the cap
italists nor the wage-earners give way
TO unre soning panic, al d sacrifice their
property or their interests under the
thelcss. every days delay in removing
one of the Plain and principal causes
Of the present state Of things enlarges
the mischief already done and increas $
the responsibility Of the Government for
It's existence. Whatever else the people
have a right to expect from Congress.
they may certainly demend that legisla-
ton condemned by the ordeal Of thr,e
years disastrous experience shall be re-
moved from the statute books as soon
as their representatives can iegitimately
deal with It.
Tariff Reform.
II was my purpose TO summon Congress
in special session early In the coming
September that we might enter promptly
upon the work OF tariff reform, which the
true interests Of the country clearly de-
mand. which so large n majority or the
people. as shown by their suffragss, de-
sire and expect and TO the accomplish
mint Of which every effort of the pres
ont administration IS pledged But while
tariff reform has lost nothing OF Its
immediate and permanent Importance
and must I'm the near future engage the
attention Of Congress- IL has seemed TO
mo that the financial condition OF The
country should at once and before all
other subjects be considered by your
honorable body,
I earnestly recommend the prompt re-
peal of the provisions Of the act passed
July 4 1890. authorizing the purchase OF
silver bullion. aud q at other legislative
action NAV put beyond all doubt or mis-
take. the intention and the ability Of the
Government 20 fulfill its pecuniary obli-
cations. I'm money universally recognized
bv All civilized countries.
fsigned GROVER CLEVELAND.
Executive Mansion. August Z, 1898.
A Fast Young Man Arrested.
NEW ORLEANS, August S.-Joseph G.
Markey. who was arrested at the Leland
Hotel. IN Chicago yesterday, for forging