Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-10-29

spite of legal enactments of parliaments
or congresses. Our hard times have
come from the general competition With
the countries of the whole globe into
which we are forced by cheapness and
facility of transportation-from over-pro-
duction in past years, from eXtrayagance
rffe -rffief r.ruscs o. n1fu :. %
day is this agitation for radical
change in the currency of the coun-
try. If the American people put down
by an overwhelming majority this agi-
tation-bury it out of sight-one chief
cause of hard times will be out OF the
way. Other causes may remain, more
or less. That of the general competi-
ton with all the nations of the earth
must remain. Good times, however,
NAV be expected to come back, even II
only gradually. The overproductiOn that
glutted our markets has been used up;
CAPITALISTS are anxious to do something
with their mOney-if it can be invested
safely; our wOndrOus natural resources
invite investments to develop them-and,
confidence, restored, the outlook IS
bright. But the essential thing is con-
fdence. Today it is confidence that is
needed far more than an increase in the
volume of the currency. The volume OF
the currency is large enough; to increase
If fictitiously, surely, will not help us.
Ninety per cent of all business is done
without currency-by cheques and
drafts. of which the whole foundation IS
confidence. Those who suffer from
hard times-and they are the many
must hearken to reason, silence passion;
turn away from deluSive remedles-anCl
the country Will be again put OH Tue io"u
to prosperity.
I ask, is it honest to try to pay debts
with half the money which we received
when contracting them? National or pri-
vate. debts contracted upon, imam
cial system, such that those who
loaned money gave it a certain com com,
mercial value, and believed, as they
could not at the time have helped
doing. that they would receive 1t
hack at the same commercial value,
should be paid in values of that same
financial system. That the great Amer
lean republic will as a nation, declare to
the world that it will now make a law
compelling its creditors to be satlsned
with half. or a little more of the money
they loaned to it-and go on record i'll
the ewes of the world as a broken-down,
bankrupt. repudiating nation, 1t Is not
possible to believe. No one will say IN
justification of such a possibility that
America is compelled by national poverty
to do so. Then, no one should be able 10
say that she thinks of doing so.
There are hundred aspects of this
question which l do not touch upon; J
merely throw out some thoughts, which
show reasons for my own present po'
litical faith, and which may be of some
benefit to others in forming their own
| judgment. ., d..
have come to look upon the present agi
| tation as the great test of universal suf
frage and popular sovereignty. Can the
people defend public honor and the in
stitutions of the country at the polls, a!
they have done on the field of battle,
Can they be so calm and deliberate il
their Judgment, so careful to weigh al
avoid all rash experiments, that they
can be trusted with the settlement Of
grave social and political problems
That is the question that is before u'
Mt the present moment.