People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1894-07-27

other and more appreeiative nations
TO add it to their stock. That the
opportunity we have offered has not
been neglected is shown by the large
amounts of gold which have been re-
Gently drawn from our treasury and
exported to increase the strength of
foreign nations. Tie excess of ex-
ports OF gold over its imports for the
year ending June 3d. 1898, amounted
to more than SS7, 500, 900. Betw cen
the LIST day of July, 1870, and the 18th
day of July, 1898, the gold coin and
bullion in our treasury decreased
more than Sl32,0OO,GOO, while during
the same period the silver coin and
bullion in the treasury increased more
than S1l7, 0OO, 900.
Unless government bonds are to be
constantly issued and sold to replen-
lsh our exhausted gold, only to be
again exhausted, it is apparent that
the operation of the silver purchase
law now in force leads in the direction
OF the entire substitution of silver for
the gold in the government treasury
and that this must be followed by the
payment of all government obliga-
tons in deprecated silver
AT this stage geld and silver must
part company aud the government
must fail in its established policy 10
maintain the two metals on a paritv
with each other.
Dangers OF Deprecated Currency
Given over 10 the exclusive use of
currency greatly deprecated, accord.
ing TO the standard of the commercial
world, We could no longer claim a
place among the nations of the first
class, nor could our government claim
performance of its obligation, SO far
as such an obligation has been i'm
posed upon it, TO provide for the use
of tthe people the best and safest
money. If, as many of it's friends
claim, silver ought to occupy a large
place IN our currency and the currency
OF the world through general inter
national cooperation and agreement,
it is obvious that the United States
will not be in position to gain a
hearing in favor of such an arrange
ment so long as we are willing to con-
tinue our attempt to accomplish the
result single handed
The knowledge in business circles
among our own people that our gov
eminent can not make its fiat equiva-
lent to intrinsic values nor keep in
te--:or money on parity with superior
money by its own independent
efforts, has resulted in such a lack of
confidence at home in he stability of
currency values that capital refuses
its aid to new enterprises, while mill
ions are actually withdrawn from the
channels of trade and commerce to be-
come idle and unproductive in the
hands of timid owners Foreign in
vestorS, equally alert, not only decline
to purchase American securities, but
make haste to sacrifice those which
they already have.
Sound aud Stable Currency Wanted
1t 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 apprehen-
sion and lack of confidence, however
caused, is a menace which ought not
for moment to be disregarded.
Possibly if the undertaking we have
/ in hand were the maintenance of
specific known quantity of silver at
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 favor
ably passed upon. But when our
avowed endeavor is to maintain such
parity in regard to an amount of
silver increasing at the rate of $780,
OO,OOJ yearly, with no fixed termina-
ton to such increase, it can hardly be
said that problem is presented whose
solution is free from doubt.
The people Of the United States are
entitled 10 sound and stable cur
rency and to money recognized as
such on every exchange and in every
market of the world. Their govern
ment has no right to injure them by
financial experiments opposed 10 the
policy and practice Of other civilized
states. Nor is it justified in permit
ting an exaggerated and upreasonab BILE
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 business and
calling and enters every household in
the land.
The Wage Garner Suffers Most.
There is one important aspect OF the
subject which especially should never
be overlooked. At times like the pres
ent, when the evils ofunSound finance
threaten Us, the Spectator may an
ticipate harvest gathered from the
misfortunes Of others: the capitalist
may protect himself by boarding or
NAV even find profit in the fuctuation
OF values; but the wage Garner, the
first to be injured by deprecated
currency and the last 10 receive the
benefit OF its correction, is practically
defense. ess. He relies for work upon
the ventures of confident and con-
tented capital. This failing him, his
condition is without alienation, for
he can neither prey upon the misfor-
tions OF others nor / ard his labor.
One of the greatest statesmen our
country has known, speaking more
than fifty years ago when a derange-
ment of the currency had caused com
mercial distress, said: The very man
of all others who has the deepest in
terest in sound currency and who
suffers by mischievous legislation in
monetary matters is the man who
earns his daily bread by his daily toll. -
These words are as pertinent now as
on the Gay they were uttered and
I - .