Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1893-02-16
THE IMPENDING CRISIS.

excuse for this wanton depreciation
of values throughout the whole
country; but it is an awkward re-
petition Of the ostrich attempting to
hide itself by plunging It's head in
the sand. In a little more than
two weeks a new President and
new Secretary of the Treasury will
enter office, and what can they
then do that ought not to be done
to inspire confidence in pubic
credit With the gold reserve SO
depleted as to require the sale of
bonds, as is now practically cons
fessed by all, why should not Press
ijent Harrison ~reinspire business
confidence to-day instead of halt
ing business at home and forcing
such dietrust abroad as to return
our own securities to us for gold
that we cannot spare. and leaving
to President Cleveland the task
and the credit Of doing il several
weeks hence after needless f1an-
cial distress to the country Cow"
ardly partisan shutting is some
times excusable, although never
iustiiable, hut it is a method that
can be applied to financial issues
only to reap a harvest OF loss and
dishonor.
Do President Harrison, Secres
tary Foster and the organs which
sustain their shufiing and costly
financial policy consider the inn
pressive lesson they are teaching
to the business people of the couns
tryi Do they forget that they are
teaching the intelligent of all pars
ties that they must lock to a DEM
ocraticP President tor safety in busi-
ness and public credit? Are they OBJ
liyious of the fact that they have
thrust distrust and heavy deprecias
ton of legitimate values upon the
country, and practically proclaim
to the sufferers that they can have
no relief until Republican power
begins? It is indeed a strange lesS
son for any party to teach, but it is
a most appalling lesson to be
taught the country by the party
that was once lustrous as the party
of honest money aud unsullied pub
lie credit, and this Lesson once
taught by the coward.y shutting
that has smitten all value, how can
it's leaders ever hope to appeal to
businessinterests to sustain it in tn
ture contests2
Another policy of cowardly
shuf1ing must be most disastrous
to the present party of lower. is
the fearfully altered financial con-
dition Of the country to-day as CON-
pared with the day of Cleveland's
retirement four years ago. Look at
the heritageCleveland lett to Harr;-
SOFA surplus of $65, 00O,0 900 in the
Treasury q banksnote redemp-
ton trust fund of 5000, 900 more
that has been converted in the
Treasury, making an aggregate
Treasury surplus of 1920, 200, 900.
tho gold reserve at highest stands
ard; American securities in de-
mand in every money centre of Eu-
rope, and public credit second to
none in the world.
Such was the Cleveland financia'
legacy to Harrison four years ago
what will be the Harrison legacy
to Cleveland on the fourth o
Marcha The 1920, OOO. 900 Of sur
plus gone; the Treasury compelled
to falsify Its statements by suci
unavailable assets as subsidiary
coin and diebursing officers de-
posts, and to withhold appropria
tons from public buildings, etc t.
make the government arpea
solvent; American securities force'
back upon our markets becaus
of impaired credit to drainus o
gold the gold serve lower than i
has been at any time since tn
close of the war; taxes on many o
the necessaries of life increased; tn
legitimate commerce, industry an
trade of the nation halted by tn
cowardIy shufiing that attempts t
conceal the truth, and :he admin
istration that Is about to retir
seems only to say-'After me tn
delug.!"
Let this cowardly shutfiing STOP
The way is plain, the method easy
for the present administration t
halt financial distrust to-day, an
why shall in not be done? If tn
President, the Secretary of tn
Treasury and party organs are il
doubt as to the situation and as t