The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1896-10-23

which we are forced by cheapness and
facility of ansportation-from over pro-
duction in past years-from extravaganza
during good times-and from our own
social and political agitations. One of
the chief causes of hard times today
is this agitation for a radical change
in the currency of the country
1t the American people put down
by an overwhelming majority this agita-
tion-bury it out of sight-one chief cause
OF hard times will be out of the way. 9th
or causes may remain more or less. That
of the general competition with all the
nations of the earth must remain. Good
times, however, may be expected to come
back surely, even if 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 nat
ural resources invite investments to de-
velop them-and confidence restored, the
outlook is bNght. But the essential thing
is confidence. 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
it fictitiously certainly will not help us.
Ninety per cent of all business is done
without currency-by checks and drafts,
of which the whole foundation is conf
dence. Those who suffer from hard times
and they are many-must hearken to
reason, silence passion, turn away from
delusiye remedies, and the country will lie
again put on the road to prosperity.
L ask, is it honest to try to pay debts
with half the money which we receive
when contracting them? National or pri-
vate debts contracted upon financial sys-
tenn such that those who loaned money gave
it a certain commercial value, and believed,
as they could not at that time have
helped doing. that they would receive it
back at the same commercial value, should
be paid in values of that same financial
system. That the great American repub-
lie will, as nation, declare to the world
that it will now make law compelling
it's creditors to be satisfied with half, or a
little more, of the money they loaned to it,
and go on record in the eyes of the world
as broken down, bankrupt, repudiating
nation, it is not possible to believe No
one will say in justification of such pos
sibility that America is compelled by ma
tional poverty to do so; then no one
should be able to say that she thinks OF
doing so.
There are a hundred aspects of this
question which I do not touch upon. I
merely throw out some few thoughts
which show reasons for my own present
political faith, and which may be of some
benefit to others in forming their own
Judgment.
may, of course, be mistaken. But I
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 insti-
buttons of the country at the polls as they
have done on the field of battle? Can they
be so calm and deliberate in their judg-
ment, so careful to weigh all things III tne
scales of reason and to avoid all rash ex-
periments, that they can be trusted with
the settlement of grave social and polite; l
problems? That is the question that is
before us at the present moment