The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1893-08-11

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standard of the commercial world, we
could no longer claim a place among ma
| lions of the first class nor could our gov
eminent claim performance of its obi
| cation, so far as such an obligation has
been imposed upon it. to provide for the
use of the people the best and safest
money.
If, as many of its friends claim, silver
ought to occupy large place in our cur
rency and the currency of the world
! through general international co-opera-
| ton and agreement it is obvious that the
United States will not be in position to
gain hearing in favor of such an ar
| rangement so long as we are willing to
continue our attempt to accomplish the
| result single handed.
The knowledge in business circles
among our own people that our govern
ment cannot make it's fiat equivalent to
| intrinsic value. nor keep inferior money
| on parity with superior money by its
! own independent 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millions are actually Withdrawn from the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
those which they already have.
Menace Not to Be Disregarded.
| 1t does not meet the situation to say
that apprehension in regard to the future
of our finances is groundless 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 confidence,
| however caused, is a menace which ought
| not for moment to be disregarded. Pos
sibly, If the undertaking we have in hand
were the maintenance Of specific known
quantity of silver at a parity with gold,
our ability to do so might be estimated
and guaged and, perhaps, in view of our
unparalleled 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 $50,O00,000 yearly, with no
! fixed termination to such increase, it can
hardly be said that problem is presented
whose solution is free fr m doubt.
The people of the United States are en-
titled to 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
oCGOOo3 l4OL ~ JIlSOAL0O III all
| exaggerated and unreasonable reliance on
our national strength and ability to
jeopardize the soundness of the peoples
money.
Above Party Politics.
This matter rises above the plane of
party politics. 1t virtually concerns
every business and calling and enters every
household in the land There is one i'm
portant aspect of the subject which es-
specially should never be overlooked. At
times like the present, when the evils of
unsound finance threatens US, the specula-
tor may anticipate a harvest gathered
from the misfortune of others, the capital
ist may protect himself by boarding, or
may even find profit in the fuctuation of
values; but the wage earner-the first to
| be injured by a deprecated currency and
the last to receive the benefit of it's cor
rection-is practically defenseless. He re-
lies for work upon the ventures of conf
dent and contented capital. This failing
him, his condition is without alienation,
for he can neither prey on the misfortunes
Of others, nor hoard his labor.
One of the greatest statesmen our coun-
try has known, speaking more than 50
years ago when derangement of the cur
rency had 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 mischiev-
Gus 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 to
mpressively remind us that a 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 the govern
ment.
1t is of the utmost Importance that such
relief as congress can afford in the exist
ing situation be afforded at once. The
maxim, "He gives twice who gives quick
ly," is directly applicable. 1t may be true
that the embarrassments from which the
business of the country is suffering arise
as much from evils apprehended as from
those actually existing
! We may hope, too, that calm counsels
will prevail, and that neither the capital
lists nor the wage earners will give way to
unreasoning panic, and sacrifice their
property or their interests under the inf1u-
ence of exaggerated fears. Nevertheless,
every days delay in removing one of the
plain and principal causes of the plain
state of things, enlarges the mischief al
ready done and increases the responsibility
Oh Jne government Tor lGS existence.
Whatever else the people have right to
expect from congress, they may certainly
demand that legislation, condemned by
the ordeal of three years. disastrous ex-
! perience, shall be removed from the statute
books as soon as their representatives can
| legitimately deal with it.
As to Tariff Reform.
1t was my purpose to summon congress
in special session early in the coming Sep
TENDER, that we might enter promptly
upon the work of tariff reform, which the
true interests of the country clearly de-
mand, which so large a majority of the
people, as shown by their suffrages. desire
and expect. and to the accomplishment Of
which every effort of the present admins
tration is pledged. But while tariff re-
form has lost nothing of its immediate
and permanent Importance, and must in
, the near future engage the attention of
congress, it has seemed to me that the
financial condition of the country should
at once and before all other subjects be
considered by your honorable body.
earnestly recommend the prompt re-
! peal of the provisions of the act passed
July Il, 1890, authorizing the purchase of
silver bullion, and that other legisla-
tive action may put beyond all doubt or
mistake tie intention and the ability Of
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