The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1891-07-16
THE TRUTH MUST BE TOLD.

gan to defend or attempt to de-
fcnd the reckless procedure of IL
"million dollar Congress" and
the scandelous and opprobrious
dealings of Il Republican admins
tration? This is natural. Our
contemporary The Union Re-
publican, never content unless in
error, has the following editorial
Comment il. last weeks issue:
''The farmers of Piedmont North
Carolina, as they look at their big
crops of wheat just harvested, and
their broad fields of growing tobac-
co, are not worric over the loud
talk of the Democ tic press which
would have them believe that the
Government treasury is empty and
the country on the verge of ruin.
Prosperity and Prices tell a differ
ent srory.
The farmers broad fields of
growing grain stamps as a lie
the report Of Il bankrupt Treasu-
nv. What an absurdity! But the
democratic press would have
you believe" and again it bowls
''That distinguished son, of Ohio,
now at the head of the Treasury
Department, will prove that the
Democratic cry Of bankruptcy
is false" Bah. BAH.
True the Democrats cry, if not
them, who Will? The truth pre-
sents a shameful story and yet
the truth must be told. And
why does not The Republican
tell the truth, the exact truth
about the Treasury? Why will
it cloak behind the sign boards of
another bloody shirt stone-blind
organ and triumphantly howl
''the Democra tic press instead of
being honest with the people. 1t
ought to know that the Treasu-
nv is insolvent. 1t knows that a
forced loan of fifty six million
dollars from Il sacred trustfund
for the redemption of bank notes
"a loan that would dishonor any
man in the financial transaction
of private life-has thrown the
Treasury into a state of bank
ruptcy. 1t knows that with
this forced loan, Il loan of about
Il like amount, maturing in Sep
TENDER, must be extended be-
cause the Government is unable
to meet its obligations. 1t knows
that the Government, that only
year Or SO ago bought in it's
undue bonds at an enormous
premium to get surplus revenues
into business channels, now
publicly confesses its inability
to meet its maturing obligations;
and when it is remembered that
the amount of the bonds matur-
ing i'll September is less than one
half the Treasury surplus when
the present administration came
into power, the humiliation of
this inability to pay the bonds
must be keenly appreciated.
And yet it tells you that the
head of the treasry department
will prove the Democratic cry
false" How? In the name of
truth we ask, how? Will it be
by such IL iungling of affairs as
appeared In the last treasury
statement? Exactly. The Treas
ury it is shown has already bor-
rOwed fl ON a trust fund over
fifty millions; it is about to bor-
row by forced transfer into the
Treasury some five millionslnore
held for the redemption OF de-
faced notes; it embraces in it's
statement of available assets the
items of bank deposits for dis
bursting agents and of subsidiary
silver con, which have heretofore
been treated as unavailable as
sets; and by this system offorced
loans and juggling ofaccountsin
the Trees ury statement, the
practically bankrupt Treasury is
made to appear with a balance in
it's favor, and this is the way Edi-
tor Goslin would have the sshead
ofthe Treasury department prove
the Democratic cry OF bankrupt
cy' false" The question nsErows
down to this, if The Republican"
could not meet it's own obliga-
tons and attempted to trifle with
other peoples money in present
ting it's assets to its creditors,