Rensselaer Republican, Volume 27, Number 20, Rensselaer, Jasper County, 10 January 1895 — SWORD OF DAMOCLES. [ARTICLE]

SWORD OF DAMOCLES.

Andrew Carnegie Says it Hangs Over All Business, and That It Is of Sliver. The Cleveland Iron Trade Review, Jan. 4, published the following emphatic letter from Andrew Carnegie: New York, Dec. 24,1894. To the Editor of the Iron Trade Review. It seems to me that 1895 is going to be a better year for the iron and steel trade than its predecessor, now slowly dying; how it could be worse, it is difficult to conjecture. But the sword of Damocles hangs over every phase of business in the United States. That sword is of silver.' Until the country plants itself firmly and forever upon the'platform of money of the highest standard of Value, no forecast is worth much. We never can have permanent and genuine prosperity without first settling the standard of value. At present, capital, not only at home, bnt throughout the world, is alarmed. No prudent investor abroad will place his capital here and numbers are quietly withdrawing it. This was to have been expected and is only natural. When one act of Congress, or the failure to pass an act, may reduce the value of every dollar invested by one-half It is in vain we seek prosperity. My friend, Edward Atkinson, has just called and I have read this to him. He concurs fully and says: ‘All the material conditions of this country are conducive, to a period of great prosperity, never greater; nothing stands in the way but the threat of the degradation of the standard of value Very respectfully yours, Andrew Carnegie.

Ex-Governor Sylvester Pennoyer, of Oregon, has endowed Williams College with a scholarship of $31,501 in memory of his son. who died last term. The income 13 to be used for the support of needy an<J deserving students, the preference being given Oregon students when such are in college. 5 A dispatch to the London Daily News from Vienna. Jan. 4, says that a newspa-j per there states that the Mikado seeks u European princess or an American helresj as wife for tho Crown Prince of Japan.