Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1893-07-26
For the Herald and Tribune.


Benton McMillin, who is now looked
to as the Democratic leader of the
House, was in Chattanooga on the 10th
inst, and whilst in the Times office
gave his views of the situation; and,
most likely, correctly f~oreshadowed
the action of Congress at its coming
extra, and regular session. Below are
complete sentences quoted from what
he said
II do not know what we will do
with the Sherman bill, or what substi-
tute will be brought forward, but l
feel confident that when winter arrives,
no change will have been made in the
law. This financial panic is for the
most part purely imaginary, there is
an abundance of everything in the
country and producers as a general
thing are getting good prices.
You can say that the Democrats
will be found united ON all vital
questions. For instance, you will hear
from us concerning the employment of
deputy marshals at the polls, and mat
tiers of similar import.
1.-THE Republicans predict ruinous
Democratic divisions ON important
questions, but they reckon without q
host, The party will redeem in legis-
lation the promises made in the last
Democratic national platform"
l expect Benton" is about right.
The signs point pretty strongly, now,
toward the fact, that not enough
Democrats will vote with the great
body of Republican members to re-
peal the silver purchase clause, unless
a free coinage feature, or the repeal of
the tax on state bank issues are pro-
posed in line of it. Then, the Republic
can members would be ''hands off,"
Benton is right again in one sense
that the financial stringency aud great
business depression are imaginary.
Not "purely," as he said but rela-
lively. That is the great business
public, since November last, have ha d
up before their Imagination, that
which Benton now says, will come
true-that instead of party divisions,
the party will redeem, by legislation,
the promises made in the last Demo-
cratic platform. That mean death to
our present most excellent and safe
national bank system and circulation,
and instead therefore, a conglomerate
state bank, wild cat currency that will
speedily derange the business of the
country and work widespread loss to
the people. The action will be nothing
short of sowing financial wind" 1t
will be easy to guess what kind of a
crop will be reaped. 1t also NEAR a
repeal of our protective tariff laws and
the adoption of such revenue tariff
system as prevailed from 1842 up to
1850, and which caused every article of
merchandise purchased by the people
to be from two to three times as costly
as they now are, whilst, then, farm pro-
ducts sold for less than half the price
which they now command. The fear
of these changes pictured before the
imagination of the shrewd and cautious
people of the country has caused them
10 lock up and hide away their money
from circulation; and now Benton says
in effect, that what has been imaginary
is to become real as soon as Congress
gets squarely to work redeeming the
pledges of the Democratic platform.
If what he says proves to be true, it
matters not very much whether the
silver purchasing clause be repealed
or not. Really that has contributed
only a small part to the financial and
business depression prevailing. 1t is
the threatened tariff changes and wild
cat state bank creations that have done
the ugliest part of the work. If Ben
ton is right in saying that they are to
come as realities, then all the features
of the outlook are very gloomy and
bad, indeed, except one. That one
good feature is, that the Democracy
will be surely driven from power in
1895. OLD REPUBLICAN.