Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-09-28
FessIeasrs and our flaaaes.

ForelgMers and Our flaance.
In his weekly financial review Henry
Clews comments upon the unwelcome
surprise which IL felt because the sill
yer issue Ii still at the front In Vest
ern politics. The fact il. however. that
the politicians Of that section feel inn
PEELED to take up the old fad in the alb
sence of other policies thae would at
tract public interest. The money con-
ference recently held at Omaha showed
by the composition Of Its attendants
and the spirit Of its speakers that
there is still enough of the old free
coinage spirit among the politicians to
keep up a certain amount Of agitation;
and this Is unfortunate in view of the
distrust which the past excitement has
created In European Investment circles
1t is well that this foreign jealousy
about our money standard Is SO vigil
that any attempt to force the adoption
of free coinage would meet Its first
check. For we may prostitute tho
force of law by compelling our own
citizens to accept an unstable or de-
preciated form Of money, but we can
apply no such compulsion to foreign
countries. For all that we buy from
them they would demand settlement in
gold; and If we should drive our gold
out of the country. then our settle.
ments must be made in silver. not at
Its fictitious face value but at its true
bullion value. On the other hand, our
exports would be paid for not in goli
but in silver at its current rate of de-
probation. No country so situated
can successfully compete in foreign
commerce with nations which pay and
receive payments in the most stable
form of money. To meet this pregnant
can afford to assume a position of in
dependence of foreign commerce, is
merely to substitute braggadocio and
falsehood where honest argument fails.
Even before this revolution could
get under Roadway 1t would be self
overthrown. Before the mania had
run it's course for one month the conse-
quences would be upon us in all their
force And what then? Would the
country supinely permit the ruin to
run it's unchecked course and wait fot
the worst possible EXAMINATIONS of dis
aster? Not for a moment. There are
some folIies so monstrous as to be i'm
possible even at the hands of madmeE.
There is always a limit somewhere to
the freaks of political lunacy; and, In
this case. the strait jacket would be
put in use before the precipice was
reached. The men who control finance
would see the consequences before the
contamination of the act; and a clear
prospect of the enactment of free
coinage law would produce anticipa-
tory effects which would either pre-
vent the passage of the law or bring
about its repeal quickly upon it's en-
actment. Men who scientifically and
practically understand the destructive
ness Of this scheme and the effects
which the approach of its consumma-
ton must, have upon public feeling
have no fear about the agitation be-
yond the possibility Of its bringing us
near to the verge of an appalling
catastrophe. They are satisfied be-
yond question that, if free coinage
could be enacted at all, it's duration
would be but momentary. This view is
now SO generally understood that the
silver mania affects but small minor
ity consisting largely of fanatics.