American Currency Question.

Bush Advocate, Volume XI, Issue 866, 2 December 1893, Page 6

American Currency Question.

Governor W. J. Northern, Democrat, of Georgia, recently wrote to President Cleveland asking him to state his position on financial matters, and has (say 3 Kcuter) received the following answer, which is dated 25th Sept. :—

" i lißvdly kuow how to reply to your letter It seems to ma lam quite plainly on record concerning the financial question. My letter accoptingnomination forthe Presidency, when read in connection with the message lately sent to Congress in extraordinary session, appears to me to be very explicit. I witDt a currency which is stable and safe in (he hauds of our people. I willuotknowingly be implicated in a condition that would justly make me in the least degree answerable to any laborer or farmer in the United States for a shrinking in the purchasing power of the dollar lid has received for a full dollar's worth of work, or for a good dollar's worth of the product of his toil. I not only want our ourrency 10 be of snch a character that all kinds of dollars shall have equal purchasing powor at home, but I want it to be of such a character as will demonstrate abroad our wisdom and good faith, thus plaoing ua upon a firm fouu. dation and credit among the nations of the earth. I want our financial conditions and laws relatiug to onr curreuoy to be so safe ami reassuring that those who have money will spend and invest it in business and new enterprii-e-) instead of hoarding it. You caunot cure fright by (jailing it foolish and unreason able, and cannot prevent a

f rifjhtened man from hoarding his monoy. I wautgood, found stabla monoy and a condi-

tion of confidence that will keep it iv use. Within the limits of what 1 huve written. I

am a iriond of silver, but believo its proper plaro iv uur outrenoy can only be fixed by a readjustment of our cuneitey lesjialation and :lie inauguration of a con. Bidtent aud comprehensive tinanoial schen.e. I think such a thing can only bo entiTod upon profitably and hopefully after tiia ropo.d ot tbo law which is oharged with all our liunnoial woos. In the present stato of the public miud this law cannot bo built upon nor pituliod in suoh a way as to loliove ho situtuuiu. I am, therefore, opposed to the >ree and unlimited coinage by this country alone aud independently, and am in favor of tho immediate nnd unconditional repeal of the purchasing clause of the so-called Sherman law. I confess lam aatonißhed by the opposition ot' tho Senate to Bach prompt nation os would relieve the present unfortunate situation. My daily prayer is that the delay occasioned by such opposition may not be the oauao of plunging tho country into deeper depression tnan it has yet known, and that the Democratic party may not be justly held responsible for suoh a catastrophe."