The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1893-08-11

tors alp especially alert, and not only de-
clue I'd purchase American securities, but
make haSte 10 sacrifice those which they
already Baye.
II does bot meet the situation to soy the
apprehension in regard to the future Of our
finances is gfoundless, and that there is no
reason for lack Of confidence in the pur-
poses or powsr of the government in the
premises. The very existence of this ap-
prehension and lack of confidence, how
ever caused, is o menace which ought not
for a moment to be disregared. Possibly, IL
the undertaking we have in hand were the
maintenance Of q specific and known guam
ii y of silver at parity with gold, our abil-
iiy to do so might be estimated and gsuged,
and perhaps, in view Of our unparalleled
growth and resources, might be favorabiy
passed upon. But when our avowed en-
desvor is to maintain such q parity In re-
gard to an amount Of silver increasing at the
rate of S5o,OO0,0O0 yearly, with no fixed
termination to such increase, It can hardly
be said that o problem is presented whose
solution is free from doubt.
The people of the United States arc en-
titled To q sound and stnble 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 opposed to the policy
and practice Of other civilized states, nor is
it justified in permitting an exaggerated
and unreasonable reliance on our national
strength and ability to jeopardize the sound
ness Of the peoples money.
This matter rises above the plane of poll
tics. 1t vitality concerns every business aud
calling and enters every household in the
L.. e ank ~aok &c &ho
subject which especially should never be
overlooked at times like the present.
HOW THE LABoRER SUFFERS.
When the evils of unsound finance threat
ems us the speculator may anticipate har-
vest gathered from the misfortune Of others.
The capitalist may protect himself by hoard
ing, or may even find profit in the fuctua-
ton of values, but the wage earner-the
first to be injured by deprecated currency
and the last TO receive the benefit Of its cor
rec,iou-is practically defenceless. He re-
plies for work upon the venture of conf
dence aud contented capital. This failing
him his condition is without 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 n arrangement Of the currency
had caused commercial distresa, said: 'The
very man Of all others who has the deepest
interest in a sound currency, and who suf-
fers most by mischievous legislation in
money matters. is the man who earns his
daily bread by h,s daily TOLL These words
are as pertinent now as on the day they
were uttered, and ought to impressively re-
mind us that failure in the discharge of
our duty at this time must especially injure
those of our country, the men who labor,
and who, because of their number and con-
dition, are entitled to the most watchful care
Of their government.
IMMEDIATE RELIEF DEMANDED.
1t is Of the utmost Importance that such relief
Congress afford in the existing situation be
gives quickly" is directly applicable 1t may be
true that the embarrassment from which the busi-
ness of the country is suffering arises as much from
evils apprehended as from those actually existing.
We may hope too, tn at calm counsels will prevail
and that neither the capitalists nor the wage earn
ers will give way to unreasoning panic and sacrifice
their property or their interests under the influence
of exaggerated fears. Nevertheless, every days
delay in removing one of the plain and principal
causes of the present state of things enlarges the
mischief already doue and increases the RESPONSE
bility of he government for its existence. What
s the aD o
ton condemned by the ordeal Of three years
disastrous experience shall be removed from the
books soon as their represent nsatives can legti-
mately deal with it.
AS TO TARIFF REFORM.
1t was my purpose to summon Congress in special
promptly upon the work of tariff reform, which the
true Interests of the country clearly demand, which
so large majority ofthe people. as shown by their
sufiragcs desire and expect, and to the
complishment of which every effort Of the present
administration is pledged. But while tariff reform
has lost nothing of its immediate and permanent
Importance and must in the near future engage the
attention of Congress 1t has seemed to that the
financial condition of the country should at once,
and before all other subjects be considered by your
honorable body.
l earnestly re commend the prompt repeal of the
provisions Of the act passed July II, $780, authoriz-
ing the purchase of silver bullion, and that other
legislative action may put beyond all doubt or mis-
take the intention and the ability OF the govern
universally recognized by all civilized countries.
GROVER CLEVELAND,
Executive Mansion, August Z, 1898.