The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-04-16
Distressing Silence.

surplus in the Treasury, and the ''syste-
matte robbery of the people by the Re-
publicans. by which was drawn from them
anywhere between $500 900, 900 and $780,
100000. There was no theme more prolific |
of appeal-no delusion more earnestly |
harped upon than the immense volume OF |
specie lying in the vaultssof the govern
ment. which ought to be in the pockets OF |
the yeomanry whose hard earnings had |
been extracted from them by the monopo- !
latte policy of the party which had con-
trolled the country for quarter of cen
fury The only formal statement OF the |
facts. since the executive branch OF the
government passed to the administration |
of the Democrats. comes from the Demo-
cratic Secretary of the Treasury himself. |
We referred to it last week, but it is so
suggestive and impressive that a recur-
renee to it will have u healthy effect on |
public opinion. Secretary Manning APP |
proaches the subject in a practical. COM |
nonsense manner, and in doing so vim |
dictates every argument and statement OF
the Republicans ard refutes every assump-
ton and assertion of the Democrats |
during the last campaign. He recognizes
that there are $4s4, TIA cash in
the possession of the government, but
it IS there only as a pledge for the currency
in circulation and belonging to the people.
There are about 1927 900, 900 of gold and
silver certificates belonging to the people.
and doing the work of business exchange,
representing that much of the cash in the
Treasury There is held Sl0o, 100000 OF gold
held in the Treasury. by law, as redemp-
ton fund for the $347 200, 600 greenbacksi in
circulation. There is 100000. 0Oo OF frac-
tional coin currency, which is not avalla-
BILE for the redemption of the public debt,
and that is not counted as a fund Tor that
purpose There is $11 100000 OF interest
due the lst of July, which is virtually ap-
propriated by law. The specie represented
bv the silver and gold certificates and the
greenbacks does not belong TO the govern
ment. 1t is the property of the people and
is in circulation among them in the form
of paper money, as matter Of commerce.
The $11, O00,0 600 dedicated to the payment
of interest belongs to the holders of gov
eminent bonds, and only awaits the stated
period of interest payment to be properly
appropriated. This exhausts what is called
the enormous surplus except about
| Sl6, 900, 900 as the sum total that could be
used for debt redemption.
This simple method of stating the debt
condition makes the whole question plain
to the commonest understanding, and has
had the effect to demoralize Democratic
/ statesmen, who either could not or would
not comprehend the plainest proposition
in satisfaction, and persisted in misrepre-
senting the condition of the Treasury, to
mislead and delude the people. The Yong
suffering and oppressed taxpayers have
now the evidence before them from Dem
ocratic secretary, of how much has been
unnecessarily and cruelty extracted from
them for corruption fund. to encourage
| extravaganza and foster monopolies and
gold bugs
Not only has Mr.. Manning's first report
amply and conclusiyely vindicated the
statements of Republicans in replying to
the loose charges of the Democrats. but it
has yindicated the wisdom and sagaclty OF
Republican policy Not only this, but the
first utterance of Mr.. Cleveland, given in
his letter to Mr.. Warner and the one hun
bred Democratic statesmen, who oficiously
proposed to dictate to the President what
he ought to say or ought not to say in his in
augural address, explodes another Demo
cratic bubble about silver coinage. With
equal perspicuity and directness, as the
report OF Mr.. Manning, the President
showed in the letter referred to, that the
arbitrary coinage of $2,000,000 to $4,000
| 600 per month, worth less by IA cents than
the gold dollar, was fraught with imminent
and far-reaching danger to the business OF
the country The tendency was to fix a
basis for business on deprecated curren-
cy, which was necessarily a false guide for
the internal commerce of the country, and
liable at any time to cause revulsion and
widespread panic. 1t is legal method
of compelling labor to accept for its sweat
1 and toll IA cents less than a dollar for a
dollars worth of work. and be forced to
purchase with this deprecated dollar the
necessaries of life. rated according to the
gold standard.
We point to these utterances from
Democratic administration thus early in
it's history, to show that the policy it out
lines and the facts upon which that policy
is predicated. hagrantly contradict the
statements and arguments Of the whole
phalanx of Democratic orators in the last
campaign from Vice President Hendricks
! down to the cross-r0ad politician. 1t
| shows. too that the customs levies and the
| internal revenue tax are necessary for the
proper and healthy support Of government
and the payment of its obligations, and that
| there can be no radical interference either
with the tariff laws or internal revenue
system without disaster to the country.
In this the craftsmanship of the Republi-
can party finds direct and fOrceful vim
dication, and the assurance given that the
financial system devised and enforced I'M
der Republican administration will have to
be observed and maintained, if the gov
eminent is to retain it's high position
among the nations of the earth, and the
industries of our own country.f ostered and
supported, as one of the essential agen-
cies for our industrial rs well as political
independence.
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 falacious
arguments, flooded upon the people in |
every State and national contest for the |
past decade, to deceive and mislead them |
Judge Fauntleroy's Opinion.
We publish in full, as we find it in |
the Richmond Dispatch, the opinion of
Judge Fauntleroy, of the Supreme Court, !
in the case of Branch &C., VS.. the Com
monwealth, involving the genuineness of |
certain bonds offered for re-funding. The