| Show WAITING FOR THE DAWN the announcement cornea comes from the east that money to is abundant at two and one half per cent interest on call it would not matter much to us in the west if it were only half of that if indeed it were only the fraction named because in a financial sense tho th fast east has established a censorship over the rest of the country and what ever convenient arrangements the money changers may make with each other for their own mutual benefit produces no more of an effect outside the circle immediately participating 10 such transactions than do the overdue spring zephyrs wall street is 41 the cloned sea 11 of the financial nation everything poes goes in but nothing goes out except as the argonauts went forth in quest of the aulden fleece and in this case invariably finding it this may be the dark hour before dawn there is every reason for bop ing so and a few for believing so one of the latter is that when a nation like an individual gets ets to the bottom there is but one course he be can then take u upward t ward another is that when an individual finds his bis cash on hand anil and available unequal to the requirements of bis big business he must obtain more mere from sources other than those formerly relied upon or go out of busineau busin busi egg a situation which sometimes results in his making ends meet that but forthe for the stringency he might never have thought of rather bather than let every thing go he may determine to let jet some few things go or to make the mob hobt of some other things which previously were unused the united states through its duly constituted agents has bbs done more than merely throw into practical disuse halt half of its cona constitutional titu money it has placed such money by reason of hostile treatment in such a position that it has acquired a bau baa name and those who had bad been taking it right along without question and in some cases even giving a premium for it finally joined in the scandal and looked with suspicion and distrust upon the once favored metal it to is something like the reputation of a citizen easy to lose but hard to win back and so go we are confronted not only with a situation meaning so go much ready money out of cirou circulation lation that business to is prostrate but the pros proa pact of that condition continuing until ou nesa contracts and subsides down to the volume of currency represented by gold as the cont controlling factor with silver figuring werely merely as ae a convenient oon auxiliary in the shape of change for very limited amounts it la Is a sort of procrustean bedstead arrangement in which business must be reduced until it gets dowd to a level with the volume of currency or the latter must be increased sufficiently to be equal to the former the gold to accomplish this we have not and cannot get and those who keep it where it la is and the other metal I 1 la a the mines and vaults will not have things different from what they are go bo we repeat this may be tho the critical period and a measure of relief one way or another be forced through without much further delay either there must be a wide spread crash followed by a reduced volume of commerce or more of the wherewith to conduct tr transactions anisse be brought out and disseminated the congested condition cannot last much longer it must give way to something more nearly normal it is a proposition that stands to reason that the government la is not and has not been doing the best it could la in the matter of a circulating med medium iura even from the sherman standpoint this we understand looks to gold as the only measure of values with such status given to sliver silver as its recognition as a mere matter of temporary convenience may obtain hut never in any event to be a legal tender above a certain fixed and trifling sum gum with all the hardships that this would entail if made law lav and enforced with the enormous shrinkage in commercial affairs that would ensue as ae a consequence it would still follow that silver might compy coupy a much higher estate than it does now poor and humbled as that Is in if the limit of its debt paying power were placed at ten dollars nine tenths of the pensions could be paid in it by such means it would require a certain respectability and stability of its own in spite of the law for it 16 would go to the small business men of the community and from them to the farmers and other producers coming and going continually effecting exchanges and settling little accounts and thus creating activity by communities no matter if the guardians of the nation kept on in in their policy of contraction at present the pensions are not and tor for a long time they have not been a draft on the silver deposits now over elwing fl wIng and they might as well be as not I 1 n this and many other ways the white metal could be put to use with out aff righting the denizens of wan wall street from their propriety or making their nights sleepless it would not all amount to much but would be doing the best beet that could be done under very tory unfavorable circumstances and would be an immense improvement on what we are now undergoing it we cannot have a whole loaf let fis by all means have as large a slice as possible the coinage of silver dollars has been ordered stopped now let us have those that are stacked up in the treasury vaults the point aimed at Is in for the government while doing as it pleases in the matter regarding itself to place no further obstacles in the peoples 18 way not to utterly disavow the money which several times has saved its ito credit and at leat least once saved its life it if the common people can still find use for it do not restrict them in so doing by either annulling the money power of silver altogether or refusing to issue it in mall sums when it can be done as well veil as not and let the groveling toil ers aen the coarse grained rank and file make the most of it if they can extract comfort happiness or even a moderate ano degree decree of prosperity from a debased metal and at the same time not infringe upon the lauded and gilded and cultured aristocracy by so much as the hundredth part of one per gent cent per anauo why not let them |
