Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1893-08-12
Resulted In Lack Of Confidence.

Resulted In Lack of Confidence.
The knowledge in business circles among
our own people that our government can
not make its fiat equivalent to intrinsic
value, nor keep in force our money on a
parity with superior money by its own in
dependent efforts, has resulted in such a
lack of confile,ce at home in the stability
cf currency values that capital refuses its
aid to new enterprises. while millions are
actually Withdrawn from channels of
trade and commerce to become idle and
unproauctiye in the hands Of tim;d own
ers. Foreign investors. equally alert, not
only decline to purchase American securi-
ties. but make haste to sacrifice those
which they already have. 1t does not meet
the situation to say that apprehension in
regard to the future of our finances is
groundiess, and that there is no reason for
lack of confidence in the purposes of the
government i'll the premises.
Should Not BE Disragar.led.
The very existence of this apprehension
and lack of confidence, however caused, is
a menace which ought not for Il moment to
be disregarded. Possibly if the undertake
ing we have in hand. We're the maintenance
OF specific known quantity of silver at q
parity with gold, our ability to Go so
might be estimated and gauSed, and per-
haps III view Of our unparalleled growth
and resources, might be faSorably passed
upon. But when our avowed endcavor is
to maintain such parity in regard to an
amount of silver increasing at the rate Of
5O,C00O0o OF dollars yearly, with no fixed
termination to such increase. it can hardly
be said that a problem is presented whose
solution is free from doubt
Entitled to IL Sound Currency.
The people Of the United States are en-
titled to a sound and stable currency, and
to money recognized as such on every OK
change and in every market of the world
Their government has no right to njure
them by financial experiments opposed to
the policy and practice of other civilized
states, nor is it justified in permitting an
exaggerated and unreasonable reliance
on our national strength and ability to
jeoparliZe 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 i'm
portant aspect of the subject which
especially should never be overlooked. At
times like the present, when the evils of
unSound finance threaten us, the specu-
lator may anticipate a harvest, gathered
fsc!n the misfortune of Others, the cap
icalist may protect himself by boarding or
may even f.ld profit i'll the fIuctuation Of
values.
The Wase-Earner Defensclcss.
E,,+ +1,n1
juled by a deprecated currency and the
last to receive the benefit of its correction,
is practically defenseless. He relies for
work upon the ventures Of confident
and contcntcd capital. This falling
al!eviaticn. for he can neither prey
on the misfortunes of others, nor hoard his
labor. One of the greatest statesmen our
country has known, speaking more than
so years ago when Il arrangement of tie
currency mad caused commercial distress,
said: The very man of all others who
has the deepest interest in a sound cur
rency and who suffers most by mischievous
legislation i'll money matters. is the man
who earus his daily bread By his daily
tell
These words are as pertinent now as il
the day they were uttered, and ought to
imprcssively remind lis that failure III
the Discharge of our duty at this time
must especially injure those of our col,n-
trynlen who labor and who. because of
their number and condition, are entitled
tx the mot u-atc.lful ca. { of heir Soferr-
ment.
should Act at Once.
It is far the most important that such
relief as congress can afford in the exist
ing situation be afforded at once. The
maxim ''IIe gives twice who gives
quickly" is directly applicable. 1t may
be true that the cmbarrassments from
which the business of the country is suf-
fering arise as much from evils appre-
Eended as from those actually existing.
We may hope. too that calm co,lnsels will
prevail and that neither tie capitalists nor
the wage eIcDcrs will give way to unre;.-
oning panic, and sacrifice their property or
their interests under tie Influence of eS-
;s:tsscsated fears. Nevertheless, every days
delay III removing one of the plain and
principal causes of tue present state OF
things
Enlarges the Mischief
already done and increases the response
Ellity Of tie government for its existence
Whatever else the people have right 10
expect from congress they may certainly
demand tiat legislation condemned BY
the ordeal OF three years disastrous ex-
perience shall be removed from the statute
books as soon as their representatives can
.egitinately deal with it.
Tariff Can Wait.
1t was my purpose to summon congress
in special session early in the coming Sep
tenbcr that we might enter promptly
upon the work of tariff reform
which the true interests Of the country
clearly demand, which so large majority
of the people as shown by their suffrage,
desire and expect, and to the accom-
plishment of which every effort of
the present administration is pledged But
while tariff reform has lost nothing Of its
and permanent Importance;
and must in the near future engage the |
attention of congress, it has seemed to me
hat the financial condition of the country
should at once and before all other sub
jects, De ccntidered by your honorable
body.
Recommends Prompt Repeal.
I earnestly recommend the prompt re-
peal Of the provisions of the act passed |
July H. 1890, authorizing the purchase OF
silver bullion, and that other legislative
sction may put beyond all doubt
,r mistake the intention and the
ability of the government to fulfill its
occuniary obligations to money universally |
recognized By al civilized countries.
GROVER CLEVELAND.
Executive Ma lsion, Aug. Z, 1893.
GAVE THEII, ATTENTION.
OF the Message Closely Fol-