The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1893-08-16

greatly deprecated according to the
standard of the commercial world, We
could no longer claim place among
the nations of the first class, nor could
our Government claim performance
of its obligation, SO far as such an OBJ
legation 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 occu.
py larger place in our currency, and
the currency of the world through
general international cooperation and
agreement, it is obvious that the Uni
ted 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 singlo-handed.
THE CAUSE OF LOSS OF CONFIDENCE.
The knowledge in business circles
among our own people that our Govern
ment cannot make it's fat equivalent
to intrinsic value, nor keep inferior
money on parity with superior mon
ey by its own independent efforts, has
resulted in such a lack of confidence at
home in the stability Of currency val-
ues that capital refuses it's aid to new
enterprises, while millions are actually.
Withdrawn from the channels Of trade
and commerce to become idle and un-
productive in the hands Of timid own
ers Foreign investors, equally alert,
not only decline to purchase American
securities but make haste to sacrifice
those (which they already have. It does
not meet the situation to say that the
apprehensionfin regard to the future
Of our fnances'is groundless and that
there is no reason for lack Of confidence
+ in the purposes or power of the Gov
ernment in the premises. The very
existence of this apprehension and
lack Of confidence, however caused, is
a menace which ought not for a mo-
ment to be disregarded.
HOW MUCH SILVER CAN WE CARRY?
Possibly if the undertaking we have
in hand were the maintenance Of spe-
cifc known quantity of silver at par
ity with gold our ability to do SO might
be estimated and gauged, 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 fifty millions of dollars yearly,
with no fixed termination to such in
crease, it can hardly be said that a
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 rec
ognized as such on every exchange
and in every market of the world.
Their Government has no right to in
jure them by financial experiments OPP
posed to the policy and practice of
other civilized States, nor is it justi..
fed in permitting an aggravated and
unreasonable reliance on our national
strength and ability to jeopardize the
soundness of the people money. This
matter rises above the plane of party
politics. It vitally concerns every
business and calling, and enters every
household in the land.
THE WAGE-EARNER INTEREST.
| There is one. important aspect of the
| subject, which especially should never
be overlooked: At times like the pres
ent, when the evils of unsound finance
threaten US, the speculator may antic-
ipate harvest gathered from the mis-
fortune Of others, the capitalist 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 deprecated curren-
cy and the last to receive the benefit
of its corrections practically de-
fenceless. He relies for work upon the
ventures Of confident and contented
capital. This failing him, his condi-
tion is without alienation, for he can
neither prey on the misfortune of
others nor hoard his labor. One of the
greatest statesmen our country has
known, speaking more than fifty years
ago, when a arrangement Of the cur
rency had caused commercial distress,
said: "The very man Of all others who
has the deepest interest in a sound
currency, and who suffers most by mis-
chievous legislation in money matters
is the man who earns his daily bread
by his daily toll" These words are as
pertinent as on the day they were ut
Hered, and ought to .impressively re-
mind us that failure in the discharge
of our duties at this time must espe-
cially injure those of our countrymen
who labor and who, because Of their
number and condition, are entitled to
the most watchful care of their Gov
ernment.
PROMPT ACTION NECESSARY.
It is Of the utmost Importance that
such relief as Congress can afford in
the existing situation be afforded at
cnce. The maxim, "He gives twice
who gives quickly, is directly appli-
cable. 1t may be true that the embar-
easements 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 capitalists nor the
wage earners will give away to unrea-
soning panic and sacrifice Their prop
erty or their interests under the inAu-
eace of exaggerated fears. Neverthe-
less, every days delay in removing
one of the plain and principal causes
Of the present state of things enlarges
the mischief already done, and increa-
Sos the responsibility Of the Govern
ment for it's existence. Whatever else
the people have right to expect from
Congress, they may certainly demand
that the legislation condemned by the
ordeal of three years disastrous fin
ance shall be removed from the statute
books as soon as their Representatives
can legitimately deal with it.
IMPORTANCE OF TARIFF REFORM.