Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1896-09-12
Ex-MlNIsTER PHELPS

therefore NstnHDb lnNOFse the doctrines
of the PopulIsts--The Free silver Agita-
tion Is Menace to the Business Life of
the Nation--A Disturbed Currency Makes
Prosperity Impossible.
Hon. Edward J. Phelps, ex-minister
to England, has written the following
letter, in which he urges all true Demo-
Gratis to join in defeating the candidates
who stand on the un-Democratic plat
form adopted ut Chicago:
regard the pending presidential cleo
ton as presenting the most dangerous
crisis that this country has ever encoun-
tered. 1t does not, in my judgment, in
volye any political controversy nor any
question Of tho supremacy Of party. for
such considerations are lost sight of in
the far greater gravity of the situation.
The real issue is one upon which all
patriotic men and all who are interested
in the prosperity and welfare Of the
country should find themselves upon
one side and opposed to a common en-
envy The attack that we have to resist
is not upon the policy but upon the life
of the nation, fer they would take its
life who destroy the means by which it
lives-the business of many thousands
and the industry Of millions. On these
we are all, whether rich or poor, high
or low, alike dependent. Those who are
independently rich are very few i'll pro-
portion to the 10, 600, 600 of American
people, the vast majority of whom gain
their living by some form or other of
useful employment. That there SHOULD
be prosperity in some of these employ
ments and not in others, or among one
class of people and not among others, is
impossible, for they all rest upon a
common foundation and are affected by
the same considerations. Cuisines" is
a generic term and comprehends all
lawful industries. When it is stimulat-
ed, all profit; when it is depressed, all
suffer. No part Of the body can escape
the effect of general paralysis or fail
to get the benefit of general good
health. When business hourishes, the
laborer is in demand when it declines,
he stands idle in the market place.
Business of whatever sort in q coun-
try like ours. rich in resources, full of
energy and vitality, with all harvests
everywhere ready for the sickle, rests
chiefly upon two factors-pubhc conf
dence and a sound and stable currency.
When either is-and much more when
both are-impaired or even gravely
threatened, business suffers, general de-
preston comes, labor declines, and the
wolf approaches many door. Without
confidence there can be no credit, no
enterprise. Capital is boarded, sent
abroad or lies idle and all industries
diminish or cease, and the surest way
the world has ever seen to destroy conf
dence is to debase the currency and to
make it uncertain from day to day how
much dollar is worth and how much
it is going to count for i'll the near fu-
ture-to take away, as is now proposed,
one-half its value TO begin with and to
set the other half to huctuating to an
indefinite extent, with the rising and
the setting of the sun and the approach
of every storm.
There is, therefore, in my Judgment,
no man more criminal or who is o worse
public enemy than he who engages in
or countenances that Infamous and de-
structive attempt, because the less a
man has, or the less he earns, the more
necessary it is to him that the value of
that little should DO maintained and
made sure, and that the few dollars i'll
his pocket should be as good dollars as
there are AS well might the steerage
passengers in vessel in midocean,
weary Of their privations, be melted by
some mischief maker to scuttle the ship
in order TO drown the inmates of the
more luxurious cabins, unconscious that
they themselves must be equally the vic
TINS of the comIaon calamity.
The party is already hopelessly dis
rupted on the issue presented. We can
not follow both it's divisions at the same
time however desirable it might be-
since they are moving in opposite direc-
lions. On the one side are the old time
honored principles of the party, under
which all it's great traditions have been
generated, and which all its illustrious
leaders have advocated. Chief and fore
most among these principles always in
times past has been the maintenance of
sound and honest money, of dollars that
are dollars, Of :. national stamp upon
them that does not lie.
On the same side are its most trusted
present statesmen and leaders, and a
very large proportion at the least of its
better and most instructed element.
Which way shall we 60, then, since we
cannot 90 both ways? With it's states
men or with its camp followers? With
its principles or with its organization
stampeded and graded by its enemies?
In which direction lies the future OF the
party if it is to have any future? And
who are they who will control it here
after when this tyranny shall be over
past?" Let no man be afraid to be right
ON this question, for it is the right that
will triumph in the end, whether it re-
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