Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1893-08-10

At this stage gold and silver must part
company and the government must fail in
Its established policy to maintain the two
metals ON parity with each other. Given
over to the exclusive use Of a currency
greatly deprecated according TO the stand
ard Of the commercial world, we could no
longer claim place among nations Of the
first class, nor could our government claim
9 performance Of its obligation, 60 far as
such an obligation has been imposed upon
1t, to provide for the use of the people the
best and safest money.
II, as many Of its friends claim, silver
ought to occupy aiGrger place in our cur
rency and the currency OF the world
through general International cooperation
and agreement, it is obvious that the
United States will not be in a position TO
gain hearing in favor of such an arrange
ment so long as we are willing to continue
our attempt to accomplish the result sin
gle-handed.
The knowledge in business 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 independ-
ent efforts, has resulted in such lack Of
confidence at home in the stability of cur.
rency values that atcapital refuses to aid new
enterprises, while millions are actually
withdrawn from the channels of trade and
commerce to become idle and unproductive
in the hands of timid owners Foreign in
vestors, equally alert, not only decline to
purchase American securities, 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 groundless and that there is nc
raason for lack of confidence in the pur-
poses or power Of the government in the
premises The very existence of this ap-
prehension and lack of confidence, how
ever caused, is a menace which ought not
for moment to be disregarded. Possibly
il the undertaking we have in hand,
were the maintenance of specific
known quantity of silver at parity
with gold, our ability to do so might be
estimated and gauged, and perhaps in view
of our unparalleled growth and resources,
might be favorably tassed upon. But
when our avowed endeavor is to maintain
such parity in regard to an amount of sill
yer increasing at the rate of 100000
yearly, with no fixed termination to such
increase, it can hardly be said that prob
lem is presented whose solution is free
from doubt.
The people of the United States are en-.
titled to q sound and stable currency and
to money recognized as such on every ex-
change and in every market of the world.
Their government has no right to injure
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
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 i'm.
portant aspect of the subject which espe.
cially should never be overlooked. AT
times like the present, when the evils oi
unsound finance threaten us, the specu.
lator may anticipate harvest gathered
from the misfortune of others, the capital.
list may protect himself by boarding, OF
may even find profit in the fluctuation Of
values but the wage earner-the first to be
injured by a deprecated currency and the
last to receive the benefit of its correction
is practically defenseiess. He relies fol
work upon the ventures of confident and
contented capital. This failing him his
condition is without alienation, for he cal
neither prey on the misfortunes of other.
nor hoard his labor. One of the creates
statesmen our country has known, speak
ing more than so years ago when a de
rangement of the currency had caused
commercial distress, said: "The very MAJ
of all others, who has the deepest interes
in q sound currency, and who suffers mos
by mischievous legislation in money mat
ters, is the man who earns his daily breat
by his daily toll"
These words are as pertinent now as OF
| the day they were uttered, and ought tx
| impressively remind us that failure il
| the discharge of our duty at this time mus
especially injure those of our countryme1
| who labor, and who because of their mum
Der and condition, are entitled to the mos
watchful care Of their government.
1t is of the utmost Importance that sucl
relief as congress can afford in the existing
situation be afforded at once. The maxim
''He gives twice who gives quickly is di
rectly applicable. 1t may be true that tn,
embarrassments from which the business il
the country is suffering arise as much from
evils apprehended as from those actual,
existing. We may hope, too, that cain
counsels will prevail and that neither tn,
capitalists nor the wage-earners will Civ
way to unreasoning panic and sacrific
1 their property or their interests under th'
influence of exaggerated fears
| Nevertheless, every days delay in remov
ing one of the plain and principal causes O
the present state of things enlarges tn
mischief already done and increases the re
sponsibility of the government for it's ex
istence. Whatever else the people have
right to expect from congress they ma,
certainly demand that legislation con
demned by the ordeal of three years. disas
trous experience shall be removed from
the statute books as soon as their repre-
sentatives can legitmately deal with it.
1t was my purpose to summon congres
in special session early in the coming Sep
tember that we might enter promptly up
on the work of tariff reform, which tn
true interests of the country clearly de
mand, which so large a majority of tn
people as shown by their suffrages, desir
and expect, and to the accomplishment 0
which every effort of the administration i
pledged. But while tariff reform has los
nothing of its immediate and permanen
Importance, and must in the near futur
engage the attention of congress, it ha
seemed to me that the financial condition
of the country should at once and 5efor
all other subjects, be considered by you
honorable body.
l earnestly recommend the prompt re
peal of the provisions of the act passe,
July IA, 1890, authorizing the purchase @
silver bullion, and that other legislativ
action may put beyond all doubtor mis-
take the intention and the ability of tn
government to fulfill its peeuniary obiga
tions in money universally recognized b
all civilized countries
GROVER CLEVELAND.