Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-10-28
NEW YORK WILL FOLLOW
OHIO.
Everything Will Go Democratic
in November.
New York World.

"Thepress OF the country seems to be
gradually waking up to n perception Of
the ofiense committed by Secretary Fol-
ger in this letter to the Albany meeting.
ut would be difficult to exaggerate that
ofense. A Secretary of the Treasury who
is q candidate for the Governorship OF his
State, proclaims as an argument why he
should be elected, that the election Of his
opponent would injure the public and
private credit, and declares that the sue
cess of the party to which he is opposed
has already caused a shrinkage in values
tothe extent offorty millions.
"Now, in the first place, this state
ment is markedly absurd. The shrinkage
in the stock market to which Secretary
Folger referred VIGOROUSLY began before
the Ohio election was held. 1t could not
have began in anticipation of the
result of the Ohio election, because
nobody anticipated the result of the Ohio
election. It had nothing whatever to do
with the Ohio election.
what was the assurance given by the
Ohio election2 1t was that the next
House Of Representatives will not be con-
trolled by Keifer and Robson and His
cock and Reed, men whose accession 20
the leadership Of the present House was
accepted by everybody us a guarantee of
profuse, wasteful and corrupt expenditure
Of the public money, and who amply
made good that guarantee. Is any Re-
publican in this city idiot enough to be-
lieye that such an assurance could
possibly have an %unfavorable effect upon
tho n4ahlfn nrn1ffp DaAn--- . -.I
ly described upon the floor of the House.
in which he was the leader of the MAORI
ty, as a thief, a liar and a perjurer, and
nobody challenged the accuracy of the
description. Keifer was simply the dunn
my Of Robson IN the Speaker chair and
reversed on n day the ruling Of the day
before to meet the varying exigencies Of
Robson.
Even if the statement had been true,
or If there had been any grounds for he
ieving it TO be true, it would have been a
most ~discreditable statement for the Sec
rotary of the Treasury to make. The chief
and highest business Of that officer Is 10
protect the credit of the United States. 1t
is one Of the unfounded Republican
grounds Of complaint against the Demo-
cratic party That tins party has assailed
the public credit. Has any such assault
upon the public credit ever been made as
a Republican Secretary OF the Treasury
now makes in declaring that the success
of the party in opposition would cause a
general 's~hrinkage of values?'
This declaration Of a Republican Sec
rotary of the Treasury has been made
known, not only 10 the people of this
country, but to the people ofEurope. And
It has been made not only with a full
knowledge Of the result Of the election In
Ohio, but in the face Of a certainty that
New York will follow the example of
Ohio, and that the next Congress will be
Democratic That is to say, the Secretary
o fthe Treasury warns European investors
IN American securities, public and private.
that their investments will be diminished
IN value by an event which is perfectly
certain TO take place, and tells them that
when the news from Ohio is confirmed by
the news from New York, they had better
sell their American securities at n price
they can get for them