ces is groundless and that there is no reason for
lack of confidence in the purposes or power of the Government in the
premises. The very existence of this apprehension and lack of
confidence, however caused, is a menace which ought not for a moment to
be disregarded. Possibly, if the undertaking we have in hand were the
maintenance of a specific known quantity of silver at a parity with
gold, our ability to do so might be estimated and gauged, and perhaps,
in view of our unparalleled growth and resources, might be favorably
passed upon. But when our avowed endeavor is to maintain such parity in
regard to an amount of silver increasing at the rate of $50,000,000
yearly, with no fixed termination to such increase, it can hardly be
said that a problem is presented whose solution is free from doubt.

The people of the United States are entitled to a sound and stable
currency and to money recognized as such on every exchange and in every
market of the world. Their Government has no right to injure them by
financial experiments opposed to the policy and practice of other
civilized states, nor is it justified in permitting an exaggerated and
unreasonable reliance on our national strength and ability to jeopardize
the soundness of the people's money.

This matter rises above the plane of party politics. It vitally concerns
every business and calling and enters every household in the land. There
is one important aspect of the subject which especially should never be
overlooked. At times like the present, when the evils of unsound finance
threaten us, the speculator may anticipate a harvest gathered from the
misfortune of others, the capitalist may protect himself by hoarding or
may even find profit in the fluctuations of values; but the wage
earner--the first to be injured by a depreciated currency and the last
to receive the benefit of its correction--is practically defenseless. He
relies for work upon the ventures of confident and contented capital.
This failing him, his condition is without alleviation, for he can
neither prey on the misfortunes of others nor hoard his labor. One of
the greatest statesmen our country has known, speaking more than fifty
years ago, when a derangement of the currency had caused commercial
distress, said:

The very man of all others who has the deepest interest in a sound
currency and who suffers most by mischievous legislation in money
matters is the man who earns his daily bread by his