Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1872-08-14
FINANCIAL Logic

1 Wherever and whatever the finan.
cial policy of the present Republican
Administration is attacked the stern
reply of figures that can not lie form
OF themselves n simple and an effec-
tive answer. No financial policy
could have been persistently followed
and led the country forward with a
steady and undertaking step. If it
had been faulty or corrupt slight
retrospect at the price Of gold during
the present Administration is sugges-
| tive and instructive, and is an evil
dence of the wisdom and faithfulness
with which the fiscal branch of the
Government has been conducted un-
der Republican rule.
In March, 1869, when the johnson
Administration went out, the aver
age premium of gold during the monh
was 1919. The public was then unde-
cided as to the policy of the new Ad-
ministration, and every impediment
Gas made by Wall street combina-
tions and adventures to control the
sale of gold in the manner to which
they they had been formerly accus-
toned. The Secretary of the Treas
ury had to combat clique after clique,
and ring after ring, and to have cer-
tain legislation passed giving him
certain authority before he could in
augurate any new system. 1t was a
battle of giants, and during the
montbs of May and June gold was
run up to an average of l3S'to l39 per
cent. In the latter part of the year
1860 it commenced rapidly to decline,
averaging in October, $50; November;
124s; December, 12ls.
In the early part of January the de-
cline continued steadily, reaching in
April an average of ll3, and so it has
continued to the present time, some
times being much lower, averaging
in January of the present year 1O95.-I
Does any one whose opinion is of any
weight, or who is not blinded by pas
sion or prejudice, suppose this steady
decline in gold would have taken
place If the charges of corruption or
misuse Of the public revenues were
uet? Take also into consideration !
thesteady, gradual appreciation of the
national securities. The loan due in |
1881, the one that has the longest 10 |
run before it can be redeemed by the |
is the chief favorite with /
and investors. When the |
present Administration came into
power, with gold at 1873, it was worth
with accumulated interest, ll64. In
the month of June, 1872, with gold at
l135, it is worth 119l, with accumula-
ted interest.
Few persons like to wade through
IN intricate maze of figures and cal
the public eve wants to
glance at results, not computations.
To sum up, then. the result of the
present administration of the finan-
lid, and beyond the expectation of
he most sanguine. The citizens of
he United States, the peoples of all
have become so inspired
With confidence at the jealous watch
ILLNESS of the public credit by the
present Administration that any
.hange would not only be impOlitie
,ut dangerous. 1t is no use to say that
hese results would have been attained
Trough the natural recuperative
'Owers of the country. Other 'cOun-
ries with equal resources according
o territory and population are finan-
tally at the mercy of bankers ald \
peculators. Take Mexico, for in.
tanee. If she were not torn by do !
nestle feuds her rineXhaustible miner
| resources would make her loans !
he most desirable in the world. AS
is her revenues are always behind I
er expenditures. Fidelity TO prin- Z
lple and honesty in administration !
make the difference. |