Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1896-10-22

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 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 coun-
try. If the American people put down
by an overwhelming majority this agi-
tation-hury 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 competl-
ton with all the nations of the earth
must remain. Good times, however,
may be expected to come back, 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 natural resources
invite investments to develop them-and,
confidence, restored, the outlook is
bright But the essential thing is con-
fidence. 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 tictitiously, surely, will not help us.
Ninety per cent. of all business is done
without currency-by cheques and
dra ATS. 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 remedieS-and
the country will be again put on the road
to prosperity.
| ask, is it honest to try to pay debts
with half the money which we received
when contra citing them? National or prl-
cial system, such that those who
loaned money gave it a certain COM
mercial value and believed, as they
could not at the time have helped
doing, that they would receive 1t
back at the same commercial value,
should be paid i'll values OF that same
financial system. That the great Amer
lean republic will as nation. declare to
the world that it will now make a law
compelling it's creditors to be satisfied
with half, or 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
justification of such a possibility that
America is compelled by national 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 [ do not touch upon. |
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.
| may, of course, be mistaken. But /
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
situations of the country at the polls, as
they have done on the field OF battle!
Can they be so calm and deliberate in
their Judgment, so careful to weigh all
things in the scales of reason and to
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 us
at the present moment.