The Bessemer indicator., 1893-08-12

endicayor is To maintain such parity In regard
to an amount OF silver increasing at the rate
of $50, 900 900 yearly, with no fixed iermina-
ton to such increase, 1t can hardly he said
that u problem has been presented whose So
luton Is free from doubt
The people OF the United States are en-
titled TO a sound and stable currency and to
money recognized such on every exchange
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 II
justified In permitting an exaggerated and un-
reasonable reliance our national strength
and ability to jeopardlzc the souudness Of the
peoples money. This matter rises above the
plain of party politics. 1t vitality concerns
every business and calling and enters every
household In the land.
There /. ono important aspect OF the sub
ject which especially should not bc over
looked At times like the present, when the
evils OF unsound finance threaten us, the
speculator may anticipate a harvest gathered
from misfortunes of Others, the capitalist
may protect himself by boarding, or may even
find profit In the luctuation of values, but the
wage-carner-the first TO be injured by a de
preclRtcd currency and the last TO receive the
benefit OF Its correctlon-is practically de-
feusele-s. He relies for work upon the ven
lures Of confident and contented capital.
This failing him, his condition Is without al
deviation, for he can neither prey on the mis-
fortunes Of others nor hoard his labor, One
of the greatest statesmen that our Country has
known, speaking more than so years ago,
when arrangement OF the currency had
caused commercial distress, said: The very
man OF all others who has the deepest interest
in a sound currency and who suffers by mis-
chevous legislation in monetary matters is
the man who earns hts daily bread by his
daily toll
These words are as pertinent now as on
the day they were uttered, and ought to i'm
pressiyely remind us that failure in the dis
charge Of our duty at this time must especially
lnjurc those who labor, and who, because oi
their number aud condition, are entitled tc
the most watchful care OF the government.
at is of the utmost importance that such
relief as congress eau afford In the existing
situation be afforded at once. The maxim,
He gives twice who gives quickly is di-
rcctly applicable II may be true that the
embarrassments from which the business Of
the country is suffering arise as much from
evils apprehcnded as those actually existing,
We may hopc, too that calm counsels will
prevail and that neither the capitalists nor
the wagc-earncrs VIII give way to unreasona-
BILE panic and sacrifice their property or their
interests under the influence of exaggerated
fears.
Nevertheless, every days delay In remoy,
ing one Of the plain and principal causes OF
the present state OF things eularges the mis-
chief already done and Increases the RESPONSE
bility of the government for ITS existence,
Whatever else the people have right to ex-
p-ct from Congress, they may certainly de-
mand that legislation condemned by the or.
deal of three years disastrous experience
shall be removed from the statute books as
soon As their representatives can legitimately
deal with It. 1t was my purpose to summon
Congress in special session early in scptem-
ber that we might enter promptly upon the
work Of tariff reform, which the Cue inter
ests OF the country clearly demand, which SC
large Il majority OF the people, as shown by
their suirrages, desire and expect, and to the
Accomplishment OF which every effort OF the
present administration Is pledged. But while
tariff reform has lost nothing OF its Immedl-
ate Gnd permanent Importance, and must IL
the near future engage the attention Of Con
greas, It has seemed 10 me that the financial
condition Of the country should at once and
before all otner subjects, be con sidcrcd by
your honorable body.
II seriously recommend the prompt repeal
of the provisions of the act passed july IA
1890, authorizing the purchase OF silver bul.
lion, and that other legislative action may
put beyond all doubt or mistake the intentlou
aud the ability of the government to fulfil it,
pecgnlary obligations In money universally
recognized by all civilized countries.
"GRpyER CLEVELAND.
Executive Mansion, Aug . lsg3r