The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-07-13
A BILLION LOST.

with official figures, proves that a
billion has been lost in the shrinkage
OF values since Grover Cleveland was
elected President. The figures, colos-
sal as they are, barely indicate the ap-
palling proporticuo vi the disaster
which has fallen upon the commerce
and industries of the country. The
shrinkage In personal property,
limited companies and real values,
other than stocks and bonds, probably
exceeds in amount the loss which is
reflected in the Stock Exchange
quotations. The total depreciation
therefore in the wealth of the country
within seven months is nearer two
billion dollars than one.
Three-fOurths Of this unparalleled
fall in prices has occurred in Ill days
since Mr.. Cleveland's Inauguration.
Such is the cost of his "object lesson"
to the country. Such is the penalty
of electing Congress overwhelming
Democratic and strongly in favor
of debssed currency, and free silver.
"Want of confidence" is the sole
cause of the disaster The Sherman
Silver law was enacted two years ana
seven months beforr the last national
election, and had been in full opera
tion without causing disturbance to
the finances or creating alarm. Secre-
tary Carlisle in his public state
ment of June IL, just month ago.
stated that there had been paid for
silver bullion under that law "$ll4,-
900 920, worth to-day at the market
price of silver $lOS, All 1856, thus show
ing loss of SIC, ,8SS, $50" This incon-
siderable loss when considered in
relation to the whole amount
of our currency was neverthe-
less foreseen by the majority OF
Republicans in Congress and would
have been partly or wholly saved to
the people if solid phalanx of free
silver Democrats had not barred the
way.
1t is that phalanx of "cheap"
money Democrats whose conversion is
the purpose of Mr.. Cleveland's 'object
lesson"-the most costly a country
was ever called upon to pay, the most
wanton President of the United
States ever inflicted.
No one could have predicted so
sudden and so dire realization Of the
cost of Democratic success in the last
election as has come upon the country.
Whether it be attributed partly to the
finances and partly to the tariff, or to
both, either horn of the dilemma is an
appalling responsibility which the
Democratic party must assume alone.
If the Silver Purchase act ia deemed
contributory cause the following vote
of the House in June, 1899, shows the
record of both parties:
Democrats for free coinage l0l
Republicans for free eco. "a
Farmers Alliance for free coinage ...,.........
''''''''-''... ITO
Democrats against free coinage e..,......,..... l3
Republicans against free coinage e........,... l27
l4O
When the decline in the market price
of silver became apparentand a motion
was made last winter in Congress to
repeal the Silver Purchase act now in
force, the vote stood;
Democrats for lO4
Republicans for 80
Democrats against lO7
Republicans against repeal 30
Farmers Alliance against rep al ............. I'D
Some of the Republicans voted
against repeal, not because they
favored continuing the present law,
but because they deemed it best to
leave the question to the incoming
The entire cost OF al the silver