Saint Mary's beacon., 1893-08-17

A~NS 1oe AstFGt tut sftuAAEOH u
say that apprehension in regard I,
: the future of our finances is ground
less and that there is no reason foI
lack of confidence in the purposes
or power Of the government in til,
premises. The very existence o.
this apprehension and lack of con.
fidence, however caused, is men.
ace which onght not for moment
to be disregarded. Possibly il the
undertaking we have in hand were
the maintenance of specific known
quantity Of silver as parity with
gold, our ability to do so might be
estimated and gaaged, and perhaps
- co. upra-s2lelcd Towth
and resources, might be favorabiy
| passed upon. But when our avow-
ed endeavor is to maintain such
parity in regard to an amount of
silver increasing at the rate of $780,
600, 900 yearly. with no fixed ter
minatioh to such increase, it can
hardly be said that problem is
presented whose solution is free
from doubt.
The people of the United States
are entitled to sound and stable
currency and to money recognized
as such on every exchange and in
every market of the world. Their
government has no right to injure
them by financial experiments op-
posed to the policy and practice of
other civilized States, nor is it JUS
titled 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 vitality con-
Germs every business and calling and
cutters every household in the land.
There is one important aspect of
the subject which especially should
never be overlooked. At times like
the present, when the evils of un-
sound finance threaten us, the spec
ulator may anticipate IA harvest
4 gathered from the misfortunes of
Others, the capitalist may protect
himself by boarding or may even
find profit in the fluctuation of val
ues, but the wage-earner-the first
to be injured by deprecated cur
rency and the last to receive the
benefit of its correction-is practi-
cally defenceless. He relies for
work upon the ventures of conf
dent and contented capital. This
failing him, his condition is with
out alienation, 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 fifty
years ago when arrangement of
the currency had caused commerce
al distress, said: "The very man
of all others who has the deepest
interest in a sound currency, and
who suffers most by mischievous
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 impressively remind
us that failure in the discharge of
our duty at this time must especi-
ally injure those of our country
men who labor, and who, because
of their number and condition, are
entitled to the most watchful care
Of their government.
| 1t is of the utmost Importance
that such relief as Congress can
afford in the existing situation be
afforded at once. The maxim, "He
gives twice who gives quickly" is
directly applicable. 1t may be true
that the embarrassments from which
the business of the country is suf-
fering arise as much from evils ap-
pretended as from those actually
existing. We may hope, too, that
calm councils will prevail, and that
neither the capitalists nor the wage
earners will give way to unreason-
ing panic, and sacrifice their prop
erty or their interests under the
influence of exaggerated fears.
Nevertheless, every days delay in
removing one of the plain and prin-
cipal causes of the present state oi
things enlarges the mischief already
done and increases the responsible.
} ty Of the government for its exis.
tence. Whatever else the people