The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1893-06-16
THE MONETARY TROUBLE.
Disastrous Consequences Of the Democratic
Victory Last Fall.

Disastrous Consequences OF the Democratic
Victory Last Fall.
It is admitted by democrats who are
in the closest relations with President
Cleveland that he would undoubtedly
have called an extra session of con-
Qress to act upon the silver question
and other phases of the monetary prob
lem sooner if he had expected that the
result would have been in any degree
beneficial to the country. Whatever
difficulty at present exists because of
the failure of congress to act must
therefore be attributed to the presidents
appreciation of the foolishness of his
own party.
The country is now losing gold at the
rate of four to five million dollars each
week. Everybody knows that the rea-
son is because there is no confidence
that the next congress will do any
thing sensible in regard to the
money question. Is it therefore in
any degree unreasonable to charge
the failures which are constantly oc-
curing and the many business disas-
tiers which crowd the columns of daily
newspapers to a democratic victory last
fall?
! Itmay. perhaps, be said that demo-
era tic congress, when il assemblies. will
realize better results for the country.
! But all gree that financial disaster is
not likely to be averted by any action OF
congress at the next session. Many
democrats frankly confess that they
have great apprehension in regard 10
| the action OF democratic congress.
notwithstanding the veto power OF the
president They admit that while re
might be able 20 arrest the most dan
| gerous mea >ures. there Is at least pos
,ibilitv thar his disposition to avoid
ccntrov ersy within the party may lead
him to assent 10 measures which are oy
no means wise.
The nations experience of demo
cratic congress and a democratic presl
dent has not been altogether success
thus far The results which business
men experience have not been in any
high degree satisfactory. Failures have
been far more numerous and more I'M
portant than they were a year ago. Ii
is vet an open question whether the
disasters may be of such character
as to involve legitimate trade anC
the industries of the country in seriou:
disaster. The money markets in nearly
all of the interior cities are compare
lively close, and collections are back
ward. There are many who urge thai
the banks of New York ought to looser
their purse-strings and lend the fund:
at their command more freely. Bu'
banking is not an eleemosynary bust
ness. If the situation is not whole
some or sound. in the judgment o
bankers. it is out of place to urge then
to lend money more freely or to en-
courage doubtful speculations. Th'
fact is that during the last six months
the banks of the country have expanded
their business more than they shOul'
have done. and many speculations hav'
been extended or prolonged which real
" ought to have been closed up by sharl
contraction of banking loans month";
ago.
The situation at present is by N
means calculated to impress the mind
|. of business men with a sense OF tn
, wisdom of electing democratic con
gress and a democratic president
Nevertheless. the decision of the pee
pie has been made. and we have t
abide by it. whether it results well
ill.-N. y. Tribune.