The Camden chronicle. (Camden, Tenn.) 1890-current, 1893-08-18

United States will not be in po-
sition to gain a hearing in favor Of
such an arrangement SO long as we
are willing TO continue our attempt
to accomplish the result single
handed. The knowledge in bust
ness circles among our own people
that our Government can not make
its fiat equivalent to intrinsic value,
nor keep inferior money on a parity
with superior money by its own in
dependent efforts, has resulted in
such a lack Of confidence at home
in the stability Of currency values
that capital refuses its aid to new
enterprises, while millions are act
ually withdrawn from the channels
of trade and commerce to become
idle and unproductive in the hands
of timid owners.
Foreign investors, equally alert,
not only decline to purchase Ameri-
can securities, but make haste to
sacrifice thoselwhich they already
have.
1t does not meet the situation to
say that apprehension in regard to
the future of our finances is ground
less and that there is no reason for
lack of confidence in the purposes
or power of the Government in the
premises. The very existence Of
this apprehension and lack of con-
fidence, however caused, is a men
ace which ought not for a moment
be disregarded. Possibly if the I'M
dertaking we have in hand were the
specific known quantity of silver at
the parity with gold, our ability to
do so might be estimated and gaug-
ed, and perhaps, in view of our I'M
paralleled growth and resources,
might be favorably passed upon.
But when our avowed endeavor is
to maintain such parity in regard
to an amount of silver increasing at
the rate of S50,0O0,0O0 yearly, with
no fixed termination to such in
crease, it can hardly be said that q
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 II
every market of the world. Theil
Government has no right to injurt
them by financial experiments OPP
posed to the policy and practice o.
other civilized States, nor is it jus
tilted in permitting an exaggerated
and unreasonable reliance on oul
national strength and ability t.
jeopardize the soundness of thu
peoples money. This matter rise
above the plane of party politics
1t vitality concerns every bushes
, and calling and enters every house
hold in, the land. There is one i'm
7 portant aspect of the subject whicl
: especially should never be over
= looked. At times like the present
when the evils of unsound fnanc
: threaten us, the Spectator may an
9 ticipate harvest gathered from tn
t misfortune Of others, the capitals
: may protect himself by boarding
S or may even find profit in the fuC
tuation of values, but the wage earn
t er-the first to be injured by dc
i preciated currency and the last t
y receive the benefits Of it's correctio
: is practically defenceless. Here
lies for work upon the ventures {
} confident and contented capita
This failing him, his condition
= without alienation, for he can ne
: ther prey on the misfortunes of oil
ers, nor hoard his labor. One {
h the greatest statesmen our countr
) has known, speaking more tina
q fifty wears AGO. when a derang,