The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1893-06-14

minds of business men deep distrust.
The financial situation which for the most
mart has prevailed since the fourth of March
has not been improved, nor has the imam
cial stringency been relieved by anything
the national administration has said or
done. 1t has announced no policy, sug-
gested no relief and given no sign OF its dis
position or ability to restore confidence and
stop the outflow of gold to foreign coun-
tries and the contraction which has taken
place at home.
In his first administration Mr.. Cleve-
land had set apart the one hundred mill
lion gold reserve as a fund sacred to the |
redemption of the legal tender notes.
He dedicated this sum to that purpose
and no other. Below that sum the
government should not go, and could
not 90 in honor and good faith. This
hundred million gold limit was the dan
GER line. To cross it meant financial
dishonor and disaster. But in his Sec
ond administration he has been COM
PEELED to cross this danger line several
times. The country has taken note OF
the fact and is naturally mistrustful
and disturbed. Speaking of the fruits
of democratic victory, Governor Nc
Kinley said:
The democratic victory of 1892 has not
been able to bring the better times prom
ised 1t has not been able to maintain the
good times which were enjoyed everywhere
in this country on the day of victory. Bust
ness failures have increased banks have
suspended, money is harder to borrow and
borrowers are compelled to pay higher in
terest for their loans than for many, many
years Feverish uncert 'inty prevails in
every financial and business circle. Labor
and capital are in doubt about the future.
1t has been our condition for two months,
and no change for the better is at this mo-
ment apparent. If to-day the pres
ident should officially and authoritatively
| announce that there would be no change in
the industrial legislation of the country,
and that the financial situation would be
met and solved upon that standard of finan-
cial honor and national good faith which
has guided the republican party since its
installation to power in 1861, confidence
would at once come back. Would it not?
Does anybody doubt it? Security would
displace alarm. Faith in the future-so in
dispen sable to easy money and good times
would be restored; gold would stay at
home, and money would go from its hiding
place into the great avenues to business,
where it belongs. If it is true, as the adj
ministration boldly proclaims, that our
financial distress is occasioned by the silver
purchase law, which requires the govern
ment to buy 100000 ounces of silver every
month and issue treasury notes therefor
then why does not the administration con
vene congress and repeal that law?
In the matter of the tariff the people
are waiting to see what the democracy
will do, but delay and waiting, uncer
tainty and anxiety, are paralyzing. Ii
the democratic pledges are fulfilled
wool will be made free, striking dowr
one of the greatest of the national in
dustries; tin plate must be made free
rendering valueless the millions of cap
ital that have been invested in this new
industry, and driving from employ
ment the thousands of laborers wht
have found employment in the new
mills that have been built; sugar mus
be again taxed, and cheap sugar agail
| made dear to the masses. In short,
A general revision upon British free
trade basis must take place if they do wha
| they promised in 1892, and upon whic
[ promises they claim their victory was Won
Every vestige of protection from the labor
ing man and industries of the Unite
States must be withdrawn and free trad
era must be inaugurated, Do we wan
e this?
The process of " SOLDERING off " afte
o the great debauch in November last
i going rapidly on. People are recover
ing their senses. They do not war
P what Mr. Mckinley has described, an
= the election in Ohio, in Novembe
/ next, will be the first public and dt
$ cisive expression of this fact. Govel
d nor Mckinley, the prophet of protet
ton, will be reelected governor by a
> overwhelming majority.
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