The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-10-24

snite OF legal enactments Of parlianents
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 i'm past years, from extravaganza
during good times. and from our own
social and political agitations. One OF
the chief causes of hard times to-
day is this agitation for radical
change in the currency of the conn
try. Ii the American people put down
by an overwhelming ma iority this agi-
tation-bury il out of sight-one chiet
cause OF hard times will be out OF the
way. Other causes may remain. more
or less That Of the general competl-
ton with all the nations of the earth
must remain. Good times, however,
may be expected 10 come back. even II
only gradually. The oyerproduction that
glutted our markets has been used up;
capitalists are anxious 60 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 rs
bright But the essential thing Is con
fdence. Today il is confidence that Is
needed far more than an increase in the
volume Of the currency. The volume OF
the currency is large enough; 20 increase
IL fictitiousy, surely, will not help us
Ninety per cent Of all business is done
without currency-by cheques ana
drafts. of which the whole foundation is
confidence. Those who suffer from
hard times-nnd they are the many
must hcarkcn TO reason, silence passion,
turn away from delusve remcdies-and
the country will be again put ON the road
10 prosperity.
- .,shf ,4h kua
when contracting theml National or pri-
vate, debts contracted upon imam
cinl system, such that those VINO
loaned money gave IL certain com
mcrcial value. and believed, as they
could not az the time have helped
doing, that they would receive
hack at the same commercial value,
should be paid in values of that same
financial system. That the great Amer
lean republic will rs n nation, declare 10
the world that IL will now make a law
compelling It's creditors 10 be satisfied
with half. or n little more Of the money
they loaned 20 it-nnd 20 on record in
the eyes Of the world ms a brokcn-down,
bankrupt. repudiating nation, u ~ not
possible 90 believe. No one will say IN
Justification Of such possibility that
America Is compelled by national poverty
60 do so. Then. no one should be able to
say that she thinks of doing so.
There are hundred aspects Of this
question which ! do not touch upon.
merely throw ont some thoughts, which
show reasons for my own present po-
litical faith and which may be of some
benefit 10 others in forming their own
judgment.
| may. OF course, be mistaken But |
have come 10 look upon the present agl-
iation as the great test Of universal SUI
frage and popular sovereignty. Can the
people defend public honor and the In.
stitutions Of the country at the polls. as
they have done on the field OF battlef
Can they be- so calm and deliberate In
their Judgment. SO careful 10 weigh all
things IN the scales Of reason ana 10
avoid all rash experiments, that they
can be trusted with the settlement Of
grave social and political problemsf
That II the question that Is before US
az the present moment.