The Red Cloud chief., 1893-08-11

IenCy Rrehtiy uepreCiuUeu uCCOruiHH W eno
standard Of the commercial world, we
could no longer claim a place among ma
tons Of The first class, nor could gov
eminent claim a performance Of its obli-
CATION, so far NJ such an obligation has
been imposed upon II. to provide for the
use Of the people the best and safest
money.
II, as many Of its friends claim, silver
ought 10 occupy a large place In our cur.
rcncy and the currency OF the world
through general international co-opera-
ton and agreement. Il Is obvious that the
gain q hearing In favor Of such an ar
rangcment so long rs we are willing to
continue q attempt to accomplish the
result single handed.
The knowledge In business circles
among our own people that our govern
meut cannot make It's fat equivalent to
intrinsic value. nor keep inferior money
on q parity with superior money by Its
own independent efforts, has resulted In
such a lack OF confidence at home in tho
stability Of currency values that capital
refuses is aid to new enterprises, while
millions are actually withdrawn from the
channels of trade and to become
Iutt Huu UuITOuutttNt I'LL wv III VI
timid owners. Foreign investors, equally
alert, not only decline to purchase Ameri-
nj securities but make haste to sacrifice
those which they already have.
Menace Not to lie D~isrcgarded.
Il 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 u menace which ought
not for a moment to be d~isregarded. Pus-
sibly, II the undertaking we have in hand
were the maintenance Of n specific known
quantity Of silver ut 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 u
avOwed endeavor isto maintain such parity
In regard to an amount Of silver increasing
at the rate Of SJO,OOO,O0o yearly, with no
fixed termination to such increase, II can
hardly be said that a problem is presented
whose solution II free from doubt.
The people OF the United States arc en-
titled to a sound and stable currency, and
10 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
states, nor Is IL justified In permitting w
exaggerated and unreasonable reliance on
our national strength and ability to
te%opardize the %soundness OF the peoples
money.
Above Party Politics.
This matter rises above the plano Of
party politics. 1t virtually concerns
every business and calling and enters every
household In the land. Theirs 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 pgofit In the fuctuation Of
values; but the wage earner-thc first Ia
be injured by \ deprecated currency and
the last to receive the benefit Of its cor.
%rection-is practically defenseless. lie re-
lies for work upon the ventures of conf
dent and contented capital. This failing
him. his condition Is without alienation.
for he a neither prey on the misfortunes
Of others, nor hoard his labor.
One Of the greatest statesmen our coun.
try has known, speaking more than SC
years ago when a arrangement Of the cur
rency had caused commercial distress,
said: "rhe 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 II the
man who earns his daily bread by his daily
toll"
These words are rs pertinent now "A on
the day they were uttered, and ought u
mpressively remind us hat a failure In
tho discharge Of our duty at this tim,
must especially injurc those Of our coun
ltrymen 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. TIL
maxim, He gives twice who gives quick
ly," is directly applicable. 1t may be tru,
that the embarrassment from which tn,
business Of the country is suffering arts
as much from evils ~apprehended as from
those actually existing.
we may nope, 100, that calm counSeli
will prevail, and that neither the capital
lists nor the wage earners will give way L
un%reasoning panic, and sacrifice thei
property or their interests under the infiu
ence OF exaggerated fears. Nevertheless
every days delay in removing one of thu
plain and principal causes of the plai,
state Of things, enlarges the mischief al
ready done and increases the responsible,
Of the government for its existence
Whatever else the people have u right Il
expect from congress, they may certainl,
: demand that legislation, condemned b.
the ordeal Of three years disastrous on
periencc, shall be removed from the statut
. books ms soon rs their representatives ca
legitimately deal with it.
As to Tariff Reform.
D 1t was my purpose to summon congress
|, In special session early in the coming Sol
I TENDER. that W. might enter prompt
upon thu work of tariff reform, which tn
Z true interests OF the country clearly Il,
mand. which SO large u majority OF tn
o people, a. shown by their suffrages, dcsir
0 and expect, and to the accomplishment ,
= which every effort of the present admini
y ~tration is pledged. hut while tariff r
: form has lost nothing Of its immediaI