Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1872-08-15
Financial Logic.

Wherever and Whenever the financial policy
Of the present Republican Administration is
attacked, the storm reply Of figures that cannot
! lie form of themselves q simple and an effect
i've answer. No financial policy could have
kecn persistently followed and led the country
forward with steady and underwriting step
II it had been faulty or corrupt slight rotr"
spect ut the price Of gold during tho present
| administration is suggestive snd instructive
| and is IN evidence Of tho wisdom and faith
fulncss with which tho fiscal branch Of the
Government has been conducted under Re-
publican rule.
In March 1869, when the johnson Admins
tration went out, tho average premium Of gold
during the mouth WAS 1919. The public was
then undecided as 10 the policy Of the new
administration, and every impeachment was
| made by Wall street combinations and ndven-
turers to control the sales Of gold in the man
ner to which they had been formerly accus-
| toned.
The Secretary Of tho Treasury lad to COM
bat clique after clique, and ring after ring, and
| to have ccrtsin legislation passed giving him
certain authority before no could insug urate
any new system. It was = battle Of giants
was run up to an average Of 1873 to l39 per
cent. In the latter part Of the year 1870, it
commenced rapidly to decline, averaging in
October, 1907 Novem Der, 1855: December,
1919.
In the early part of January the decline
continued steadily, reaching in April an aver
age Of 1l3,and 30 it has continued to the pres
ent time, sometimes being much lower, avers-
ging in January Of the present year 1O95.-
or who is not blinded by passion or prejudice,
suppose this steady decline 10 gold would have
taken place if the charges Of corruption or
misuse of the pu bile revenues were true?
Take also into consideration tho steady,
gradual appreciation of the national securi-
ties. The loan due In 1881, the one that has
the longest to run before it can be redeemed
by the Government, is the chief favorite with
capitalists and investors. When the present
Administration came into power, with gold At
1915, it was worth with accumulated interest,
l1e@. In tho month Of June, 1872, with gold
at ll35, it 10 worth 1911, with accumulated in.
terest.
Few persons like to wade through an intri-
cate maze of figures and calculations; the
public eye wants to glance at results mot COM
putations. To sum up, then, the result Of the
present administration Of the financial affairs
Of tho nation has been splendid, and beyond
citizens Of the United States, tho peoples of
al countries, have become 30 inspired with
confidence 1t tho jealous watchfulness Of tho
public credit by tho present Administration
chat any change would not only be impolitie
but dangerous. It 10 NO use to say that these
results would have been attained through the
natural recuperativs powers Of the country.
Other countries with equal resources accord
ing to territory and population are financially
ut tho mercy Of bankers ard speculators. Take
Mexico. for instance. If she were not torn by
domestic feuds hor insxhsustible mineral TO-
sources would make her loans the most desira-
bic in the world. Az it is her revenues are
always behind her expenditures. Fidelity
to principle and honesty in administration
make tho difference.