New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-05
THE DANGER FOR DEMOCRATS s.

Those Democrats are entitled to sincere re-
, snoct who manfullv insist that it will not do
for their party to shirk the responsibility 1t has
invited The people have intrused that pan!
with entire control because 1t solemnIy a.
clarcd that it could. and pledged itself that II
would apply remedies for financial evils when
il maintained were no longer tOlerabe. II ap-
reared to Republicans that the country mad
been remarkably prosperous that its only set
bacl, had come from the overwhelming Demo
cratic victories in 1890 and consequent dis
trust regarding the financial future. Voters
thought otherwise, and gave to the Democratic
marty full power. 1t is plain enough that the
country needs a settled policy, and has had
great difficulties to face ever since the people
gave notice of an intended change two years
ago. With reviving confidence during the ldll'
extraordinary prosperity was realized, ana yet
distrust in the financial future did not disap-
near. but has been renewed and increased by
the recent election. TO prolong the condition
of uncertainty, to deny the people for more
than an entire year the relief which Demo
Gratis claim they can give, after making IL I'M
possible to rely upon continuance OF the he-
publican policy. would be justly resented by
all who have believed change desirable
The outgo of gold in November is significant.
In October gold came this way indicating no
current balances abroad remaining 10 be hqul-
dated. The excess of mel chandiSc exports over
imports in November was probably more than
So. 600 900. and yet gold begins to 90 out
again. In two years ending with October
since the great Democratic victories in 1890
brought in free-trade and free-sllvcr Con-
eress. the excess of exports has been S224,-
946,519 in merchandise S76,53G.957 in gold,
and $50, 163. S29 in silver. Adding to this an
excess of at least $50 100000 merchandise
and some gold in November, there appears an
excess of exports over imports amounting 10
more than S347 900, 900 in twenty-five months.
| This obviously implies an enormous return OF
| American securities 70 this country, alter all
allowances for interest due abroad UNDERMINE
tons and freight money November does not
indicate that the Presidential election has
lessened the distrust. but has in fact gwen
proof CT greater dStruSt.
II is not intended to interpret this state OF
the exchanges as proof of foreign condemna-
ton Of the Democratic policy. That 1t prob
ably does rot mean. but serious diStrust be-
cause the nature Of that policy is not definitely
known. nor how far it is likely to affect the
soundness Of the currency, the prosperity OF
manufactures in this country, and the state OF
rade between this and other countries. Until
more can be known about the financial future
Of the United States. under the new political
dispenSaion. foreign investors prefer to reduce
their investments here, and have done so IN
the two years following the great victories OF
1890 by at least $50 900, 900 after allowance
| int aud frcl
and in the one month after the Presidential
election this year by Sl5,000,00O or 500
600 900 more 1t is evident enough that such
drain could not long continue without in
volving serious difficulties
The Democrats themselves cannot afford To
have this state of things continue for fifteen
or eighteen months more. 1t is altogether pos
| sible that the consequences would become very
| distressing to them before the regular session
| of Congress should meet in December OF next
year, and hurried and panc-stricken attempt
to do something quickly when that session be-
gins would not be likely to result in the wisest
possible action. The only safe policy is to let
the country and the world know, as soon as
possible, what Democrats intend to do. by what
definite measures they intend to remedy what
they pr nounce intolerable evils, and how far
they are able to do SO without disturbing the
| foundations Of the currency, OF trade and Of
! industries