The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-22

bility the surplus capital OF Other countries
would flow In n steady stream 10 our
shores, and we would soon bo in a condi-
ton not only greatly 90 increase our CO.
nestle productions and trade, but TO cxcrt
a controlling influence on tho trade OF the
world. No nation can reasonably hope TO
control the trade Of any considerable part
of the world or even 10 realize the full
benefits O. its own trade unless It's ex'
changes are based upon a standard of value
recognized as sound aud permanent in oil
the centors Of commerce.. With "A dcprcci-
ated and luCtuating currency or n cur
rency In any respect inferior 10 that OF
other commercial nations 10 must always
occupy "a subordinate and dependent posi-
ton. Tho pound sterling has made Lon
don not only the principal market, but the
clearing house OF THO whole world. No
matter what charactcr Of currency other
nations may use, no matter what standard
OF value they may adopt, all their interna
tional balances ara subjected ut last 20 the
test of tho pound sterling, and all their In
ternational bills of exchange arc naturally
attracted to "a common center because IL Is
there and there only that "A uniform and
recognized measure of valuo will be ap.
piled TO them. England not only realizes
great profit from her own trade, but takes
toll out of tho International trade OF all
other countries for the simple reason that
the balances arc settled upon the basis OF
her standard of value, and the credits
which represent them almost necessarily
pass through tho hands of her merchants
and bankers. With an inferior currency
we could never successfully contest her
nA1 tLn k.li.f chat xrn nnta
punish her or enrich ourselves by destroy
ing the Value Of our own money Is ono OF
the most remarkable dclusions of the age.
We are great enough and strong enough to
maintain our commercial and financial in
dependence in opposition 10 any country
I'm the world, but In order to do so we
must be allowed to use as effective instru-
montalities as are employed by our rivals.
We must have rs good money as they have
and as good credit rs they have. 1t cannot
be possible that the interest of any part OF
our people, no matter what may be their
occupation, can. be promoted by the use of
a cheap and inferior money, and | conf
IDENTIFY believe that n large majority of our
citizens will sustain every intelligent Of
fort TO improve the condition of our cur
rency.
Mr.. President, 1 promised to say but
little and perhaps ought to stop here, but
the situation seems To demand, or at least
Il seems to Justify, one or two other sug-
gestions. Much of our financial trouble
has been caused by doubt and speculation,
here and abroad, concerning the views and
purposes of our people at large INT the
policies of tho political parties 10 which
they are attached. This is "A government
by parties, and investors In our securities
and In our industrial and commercial en-
terpriscs watch with the greatest interest
and solicitude every manifestation of pop
ular opinion, especially at the periods
when, under the constitution, changes arc
to be made in tho chief executive office. Ii
Is OF vast Importance that these doubts
and spcculations shonld be SGT AT rest in
order that the world may certainly know
what Is to DO our permanent monetary
policy and adjust it's trade and direct It's
financial enterprises accordingly. Vague
and Indefinite declarations by the great
political organizations of the country not
only increase doubt and disirust abroad,
hut encourage harmful agitation at home,
and l hold, therefore, hat 10 IL tho duty OF
all who arc or who may become In any do
gree responsible for tho welfare OF tho
country TO insist that there shall 30 no
further equiyocation CT evasion In our
treatment of this great subject. Lrt rs
have no moro ambiguous phrases, no moro
Inconsistent and irrcconcilablo clauses In
party platforms or In public uttcrancos,
but lot us make our meaning so clear and
our purpose so plain that they can be
noithur misunderstood nor successfully
misrcprcScntcd. If "a majority of the pco-
pie Of tho United States arc In favor OF tho
maintenance Of tho present standard of
value and opposed 20 tho FREQ and unllmit-
cd coinage Of legal tender silver, they
ought TO have an opportunity To say so in
a fotm which will preclude all controversy
as to whether they have said so or not. On
the other hand, il a majority of our people
are IN favor of abandoning the present
standard Of value and establishing silver
recommendation by tho free and unlimited
coinage OF hat metal into full legal tender
money. they should have an opportunity
to say that. When this issue is directly
presented, wo need not fear the result.
Such ai appeal to the common sense, the
commercial integrity and the national
pride Of our people will not be in vain,
and when the contest Is over the question
will be settled. finally and conclusively
settled, In accordance with the general
judgment Of the most advanced nations
and the roal interests OF our own country.