Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1885-04-25
DISTRESSING SILENCE.

The silence of the Democratic
press on the report of Secretary
Manning as to the condition of the
Treasury is distressing. Since the
close of the last campaign very little
has been said about the enormous
surplus" in the Treasury, and the
"systematic robbery of the people
by the Republicans, by which was
drawn from them anywhere between
5000, 600, 900 and S40O, 900, 900. There
was no theme more prolific ofappeal
or deluslon more earnestly harped
upon than the immense volume OF
specie lying in the vaults OF the gov
eminent, which ought to be in the
pockets OF the yeomanry whose hard
earnings had been extracted from
them by the monopolitic policy OF
che party which had controlled the
country for quarter of century
The only formal statement of the
facts, since the executive branch OF
the government passed to the ad
ministration of the Democrats, comes
from the Democratic Secretary Of
the Treasury himself. We referred
to it last week, but it is so suggestive
and Impressive that recurrence to
it will have healthy effect, on pub.
lie opinion. Secretary Manning APP
prOaches the subject in a practical
common sense manner, and in doing
so vindicateS every argument and
statement of the Republicans and
refutes every assumption and asser
ton of the Democrats during the
last campaign. He recognizes that
there are s4S4, l14,174 cash in the
possession of the government, but ii
is there only as pledge for the
currency in circulation and belong
ing to the people. There are about
1921, 900, 900 of gold and silver certi-
ficates belonging to the people, and
doing the work of business exchange,
representing that much of the cash
in the Treasury. There is held $780,
100000 Of gold in the Treasury,
by law, as redemption fund for the
S347, 100000 greenbacks in circula-
ton. There is S3O,OO0,O0O of frac-
tional coin currency, which is not
available for the redemption of the
public debt, and that is not counted
as a fund for that purpose. There
is 81, 100000 of interest due the LIST
of July, which is virtually appropri-
ated by law. The specie represent
ed by the silver and gold certificates
and the greenbacks does not belong
to the government. 1t is the proper
ty Of the people and is in circulation
among.them in the form of paper
money, as a matter of commerce.
The S11, 100000 dedicated to the pay
ment of interest belongs to the hold
ers of government bonds, and only
awaits the stated period of interest
to be properly appropriated.
This exhausts what is called the
" enormous SURPLUS" except about
s16, 100000 as the sum total that
could be used tor debt redemption.
Not only has Mr.. Manning's first
report amply and conclusively VIM
dicated the statements of Republi-
cans in replying to the loose charges
Of the Democrats, but it has vindica-
ed the wisdom and sagaclty of Re
publican policy. Not only this, but
jhe first utterance of Mr.. Cleveland,
given in his letter to Mr.. Warner
and the one hundred Democratic
statesmen, who officiOusly proposed
% dictate to the President what he
ought to say, or ought not to say, in
his inaugural address, explodes an
,ther Democratic bubble about silver
With equal perspicuity
md directness, as the report of Mr..
the President showed in
5he letter referred to, that the arbit-
'ary coinage of 100000 to $4,000
300 per month, worth less by Ia
cents than the gold dollar, was
fraught with imminent and far.reach-
ing danger to the business of the
country. The tendency was to fix
OdoiS iOL DuolHOSo Ou IL ttpItCltutu
which was necessarily
false guide for the internal commerce
of the country, and liable at any
time to cause revulsion and wide
spread panic. 1t is a legal method
of compelling labor to accept for its
sweat and toll Ia cents less than
dolla: for a dollars worth of work,
and be forced TO purchase with this
dollar the necessaries Of
life, rated according to the gold
In the policy thus foreshadowed
by both the Secretary of the Treasury
and the President, Republicans can
consistently support them, while the
Democrats have to hide their faces
in shame when they recall their false
statements and fallacious arguments,
flooded upon the people in every
State and national contest for the
past decade, to deceive and mislead
Valley Varyinian.
The Pullman oap chnpc in Db;lo