The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-08-12
wheels Of Commerce blocked.

Business i'm an parts Of the country is
/ coming 20 o standstnl This is the cou-
/ dition Of affairs reported from
I every state The situation in this city,
( so clearly presented in b local article in
/ the MoRNING NEWS yesterday is similar
! 10 thatofevery other town and city. Mon
+ e5. cannot bee obtained for legitimate bust
| nccs purposes. Those who have products
/ TO sell want currency, and those who are
/ purchasers can't get currency. New
/ York exchange, heretofore as good as
/ gold throughout the country, is no longer
acceptable because it cannot be turned
into cash.
How long can this condition OF affairs
| continue without bringing a crash
That is the question that is being asked
on every hand.
In the meantime congress has agreed to
have a two weeks debate on the silver
question 1t does not seem to realize how
serious the financial situation is, nor 10
comprehend how great the danger is that
threatens all business interests.
From all the cotton states the report is
that the cotton crop cannot be moved I'M
less currency is released from the strong
boxes that now hold 50 large
a part of it. A dispatch from
Houston Tex, says the greatest alarm
and anxiety are manifested in that state,
because every industry is dependent upon
the movement of cotton, and that cotton
cannot be moved, although S33 on the
Sl,0O0is offered for currency. What is
H., fr
to every other cotton state.
What is necessary to unlock cerrency?
The President says, and business men
say, the repeal of the Sherman silver-pur-
chase law. With such unanimity of SEN
timent as to the remedy why does con
gress hesitate to act2 There is searcelya
congressman who thinks the Sherman
silver law a wise law. They all condemn
1t. Even the extreme silver men admit
the effect of it is bad. Why then delay
two weeks before voting on the question
of repeating it,
The only reason it is not promptly re-
pealed is that large number of congress-
men want to make some provision for
silver. They are afraid that if the
Sherman law should be uncondi-
tionally repealed they would not
be able to make as good terms for silver
as they can before that law is repealed
And so they ieopardize the vast interests
Of the country by delaying to do what
all admit is necessary to be done to re-
store confidence and prevent overwhelm-
ing disaster.
Provision can be made for silver after as
well as before the repeal of the Sherman
law There is no such hostility to silver
as to wish it shut out from the currency.
All that is asked by the people is that if
the coinage Of it is made free it shall be
coined alta ratio thatwill insure its circu-
lation on a parity with gold That
being the case, what reasonable excuse
has congress for delaying to give the coun-
try the relief so earnestly demanded?
Repeal the Sherman law at once and set
tie the silver question afterwards That
is the sentiment of the country, and the
wisest thing congress can do is to act in
accordance with 1t. Every days delay
adds to the danger of the situation. AL
ready hundreds of thousands of workmen
are out Of employment and it cannot be
long before a large portion of them will
be begging for bread. What is wanted
now is action, not talk The talking can
be done after the relief that is so greatly
needed has been granted.