Morning journal and courier., 1884-11-01

If Cleveland is elected next Tuesday the
 one hundred and fifty three electoral votes of the solid South will of course rule the Demo- cratic party and dictate the financial and economic policy of the government. The
 question is, ought this government to be turned over to the South yet? Some facts bearing on this question were forcibly stated in recent speech by MT. Theodore c. Bates delivered at Springfield, Massachusetts, as follows
 The first annual report of the secretary of the treasury under Buchanans administra- tion showed balance on hand of 17,O0O,- 000;. the last report showed deficit of SAL 100000. Congress authorized loan of 2O,000, 900, and only S7,000,000 could be placed, though proposals were made in the great financial center of the country. A year after this time another loan wes author ized and $10,000,000 was finally placed, 8 large share of it at 10 and 12 per cent. This was the condition of our finances when the Republican party came into power. Because of the war we contracted & debt of &, 750,- GOO, 900 and now one-ha1f of that has been paid Six per cent bonds quoted at London at 133, 4.5 per cents sell at 112, 4 per cents. at 120 and per cents at the same rate as English consols. This state of things has been reached notwithstanding the con stant opposition of theDemocratic party which opposed the issue of bonds and the re- sumption of specie payment The southern States have repudiated $500, 900, 600 of their State bonds, and all but $80, ,000, 900 of this has been lost by northern capitalists. Ala
 bama bonds sell at 79 and 80 asked, Arkan- sas bonds at $2 on 100 and $10 asked, Louis ana 79, New York 106, North Carolina 29. l Ohio 105, South Carolina 2, Tennessee 38, Virginia ST. If they care nothing for their own State bouds how will they care for the finances of the United States government? There is more capital in the national banks of Massachusetts to-day than in those ot any other State in the Union. The capital of the national banks in this State is $97,000, GOO. l In New York, with her immense resources and great commercial cities, it is only SS7,- 900, ,0OO Pennsylvania, with her vast mineral wealth, comes next with $50, ,O00,0OO. In all the States south of the Mason and Dixon's line including the great State of Missouri. there is in the national banks 1 but $47, ,OO0, ,O00, or less than one-half the capital of the national banks in Massachu- setts. AThe amount of deposits Tn the savings l banks of Springfield alone IS equal to the entire banking capital of the District ot 1 Columbia, Virginia, North and South Caro- 1 lima, Georgia, Florida and Mississippi, and l the amount of deposits to the credit of women alone in the savings banks of Springfield | is equal to the entire ba9king capital of Florida, Mississippi, Arkansas, deorg1a and Alabama. There is in the savings banks or Massachusetts S262, ,000, 900 on deposit, or l five times the amount of the panklng caplta of the southern States.
 Would southern politicians deal with the | vast financial interests of the government any more intelligently than they have been
 treated by the Republican partya We think
 not. It is not yet time to allow the solid South to run things.