The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1894-05-20
HE SITUATION CONSIDERED
by VIM. s. cREIeHToN.l

media or the recent legislative
action and attitude OF the United States
relative to silver. 1t is true that the
practical abortion OF a singh standard
the gold yard stick--works hardship
TO the debtor class in this country, and
1t is, unfortunately, a large class. But
the harsh truth may as well be plainlv
stated that the debtor, in all ages OF the
world. has been at the mercy OF the
creditor, even to the exaction of the
pound of flesh. It ia an inexorable law
of the business world, the penalty for
the iniraction OF which is serious loss OF
prestige and credit to the stare az to the
individual involved, the creditor shall
never suffer. The equities will never
obtain when the issues are joined be
tween debtor and creditor. The weakest
goes to the wall.
Among the efficient causes moving to
preclpitate settlements between debtors
and creditors in this country within the
past IL months land which has paralyzed
business enterprise, pending adjust
ments and tariff deter mination) were,
undoubtedly. the depreciation of silver
in the markets of the world, our con-
tinued purchase and coinage of that
metal under the provisions of the Sher-
man law, and the menace of unlimited
coinage by US In the face of European
The creditor became
alarmed lest there be shrinkage in the
value of his credits, and pressed for
settlement. The debtors could not stand
the reckoning upon a declining market
and raising the panic cry of "ssuve qui
peut," pulled each other down.
1t is equally idle to attribute the de-
probation of silver. which long ante
coded the abolition of the sherman act,
to that step, as to hope that we can re-
habilitate that metal without the CO.
operation of the leading European states.
The attempt would be at once Intellectual
and disastrous. The gold yardstlck" is
now the established measure, and we are
rapidly adjusting ourselves to it. And,
once our debts are adjusted. it can work
no harm to anybody, for it is to the
manifest advantage OF all who are even
with the world. and not in position to
juggle with money, that dollar should
never shrink-any more than the sitfast
acres of a farm.
That we are spirited people and do
not pass under the rod of adversely
without wrathful impotence. is we'll,
provided our indignation and demon
stration be not misdirected. But some
thing other than money juggling is at
the bottom OF industrial distress the
world over. Let us inquire into it with
special reference to the United States.
We trace our present aggravated con-
ditioEs to two sources. The first is our
utterly unscienti6c and undemocratIc
policy of protection, 30 called, which has
grown up since the war and which has
been the means largely of bringing about
the wide disparity OF pecuniary condi-
tions among our people. Operating as
protectioniem has, in this country, to
make agriculture unproti table, and thus
unattractive aud unavailable to engage
the multiplying hands of active Ameri-
can labor, while enormously agA randiz-
ing capital engaged in manufacturer
the importer of psuper labor-the farm
or is mortgaged beyond probable re-
demption and the American workman is
out OF job.
With our limitless possibilities for
surplus production nothing short of an
artlfcially restricted interna sional com
MERGE, limiting our field of distribution
substantially to the demands of the
home market, could have brought Amer
lean la Dor in this country face to face
with the stern problems OF 'etruggle
for existence"
But out of that fatal box of Pandora,
whence most of our national plaques
have sprung, second source of present
trouble has issued for our people.
Scientific domestic economy is prac-
tically unknown in this country. AS q
matter of fact, we are the only civilized
people IN the world who have ignored
in practice both political and domestic
economy. England practices both and,
despite her dense population, is today
the most tolerabls country in Europe
for the masses and affords the highest
remuneration to labor. 1t must be ad :.
mitted that under any RECON- zed sys-
tenn OF taxation now in vogue living CON
dit ons in England could hardly be as
favorable for the millions as those
which should. for many years. prevail
here. That her people are still pa
trlotic and find life worth living. is due
to her untrsm eled free trade with the
world and her approach to systematic
domestic economy.
The people OF France, and of the
other continental states of Europe, have
reduced domestic economy to an exscG
science; but the masses, inexperienced
and untsught in the science OF govern
ment, have not yet learned to demand
of "the powers that be" British free
trade. But come to it they muet. or
anarchiBm will spread like cancer,
eating out the heart OF patriotism until
chaos comes.
How has this country been able to
sustain, with only periodical distress.
the absurd and vicious ITEM of pro-
tectionism as a nation and, at the same
time. practically disregard domestic
economy as people?
Reasons are as plentiful as black Der
ries why this should be the case. Here
ia an enormous expanse of virgin coun-
try lying within the temperate zone, an
ocean at either end and between them
every variety of soil, climate and min
eral product, a reasonably homogeneous
people, dominated by the sturdy and
intelligent Anglo-Saxon race, united
under republican form OF government,
embarrassed by no stress of population
or restraint upon individual movement,
and ljoving absolute free trade over 40
states, each larger than most European
kingdoms. Under such exceptional con-
ditions it ia not marvellous that we have
been, as q people, prodigously specu a.
tive, prodigsl of our resources. con
tsmptuous OF small econom les
and almost boastful of govern
mental extravagance. The recently
retired secretary ol the treaeury jnsti-
fed the "bllol dollar congress-" by
saying jauntily, This is billion dollar
countr :" And the vaporing optimism.
or pernicious persifsge, was applauded