Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1893-08-17
70 continue orr attempt to accomplish

vi u purity Win superior money, Dy II
own independent efforts has resulted ii
stability of currency values. that capita
refuses its aid 10 new enterprises, Will
millions are actually withdrawn from tn
channels of trade and to be
come idle n u~nproductive in the hand
Of their timid owners. Foreign investors
equally alert. not only decline to pur
chase American securities, but make
haste to sacrifice those which they nj
ready have. lit does not meet tine situa
tion 10 say that the apprehension in re-
gard to the future of our finances !,
~groundless. and that there is no reason
for lack Of confidence in the purposes OF
power of the government in the premises
The very existence of this apprehension
and lack of confidence. however caused
Is n Menace.
which ought not for n moment to be dis
regarded. Possibly if the undertaking
we have in hand were the m~aintainance
of n specific. known quantity of silver
at a parity with gold, our ability TO do SC
might be estimated and gagged, and. per.
haps, in view of our unparalleled growth
and resources. might be fayorably passed
upon. But when our avowed endeavor
is 10 maintain such parity in regard 10
an amount of silver increasing ct the rate
of S50,Oo0,O0O yearly, with no fixed ter-
mination to such increase. il can hardly
be said that a problem is presented whose
solution is free from doubt.
The people of the United t2tes are en-
tided to-
sound and Stable Currency
and to money recognized as such on ey-
cry exchange and in every market in the
world. Their government has 10 right
to injure them by financial experiments
opposed to the policy and practice OF
other civilized states, nor is il Justified
In permitting an exaggerated and un-
reasonable 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 concerns every bust.
ness and calling and enters every house
hold in the land. There is one important
aspect of the subject which especially
should never be overlooked.
LabGring Man the Sufferer.
At times like the present, when the
evils of unsound finance threaten us, the
Spectator may anticipate q harvest
gathered from the misfortunes of others,
the capitalist may protect himself by
boarding or may even find profit in the
fluctuationof values; but the wage
Garner. the first to be injured by q depre-
ciated currency and the last TO receive
the benefits of its correction, is practi-
cally defenseless. He'relies for work up
on the ventures of confident and content
cd capital. This failing him his condl-
ton is without alienation, Tor he can
neither prey on the misfortunes OF others
nor hoard his labor. One of the greatest
statesmen our country has known, speak
ing more than fifty years ago when q
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 mischieyous leglsla-
ton in monetary 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 n ought
TO impressiyely remind us that a failure
in the discharge of our duty at this Tune
must especially injure those of our coun-
trymen who labor, and who, because OF
their number and condition, are entitled
to the most watchf;tl care of their gov
ernment. 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
qaickly" is directly applicable. 1t may be
true that the embarrassment from which
the country is suffering arises as much
from evils apprehended as from those
actually existing. We may hope, too, THAT
calm counsels will prevail, and that nei-
Inef the capltdllst nor ahc WhSc .h
will give way to unreasoning panic and
sacrifice their property or their interests
under the influence of exaggerated fears.
Nevertheless, every days delay in emoy-
ing one of the present state OF things EN-
Iarges the mischief already one INT in
creases the responsibility of the govern
ment for it's existence. Whatever the peo-
pie ave a right to expect from congress,
they may certainly demand thatlegisla-
ton. condemned by the ordeal of three
years disastrous experience, shall be re-
from the statute books as soon as
their representatives can legitimately
deal with it. 1t was my purpose to sum
mon ess in special session early in
coming September that we might en- |
ter promptly upon the work OF tariff re-
form which the true interests of the
country clearly demand. which so large a
majority of the people as shown by their
suffrages desire and expect, and TO the ac-
complisbment of which every effort of
the present administration is pledged. !
while tariff reform has lost nothing
of its immediate and permanent import
ance; and must in the near future en-
the attention of congress, it has
to me that the financial condi-
tion of the country should at once and
before all other subjects, be considered
by your honorable body.
4 earnestly recommend the prompt re-
peal of the provisions of the act passed
July IA, 1880. authorizing the purchase
OF silver bullion and that other legisla-
tive action may be put beyond all doubt
Or mistake the intention and the ability
the government to fulfill its p~ecnniary
obligations in money universally recog.
by all civilized countries.
GROVER CLEVELAND.
Executive Mansion, Aug. z, 1893.