The Globe-republican., 1893-06-30
DEMOCRATIC IGNORANCE.
Finances and Trade as Affected by Cleve-
lands Election.

AueCte0
lands Election.
President Cleveland and his organs
are making desperate attempt to in
duce the people to believe that the de-
pletiOn of the national gold reserve is
the cause OF the prevailing panic and
steadily increasing hard times. If
that is true why do not the demo-
cratic bankers place the necessary ten
million to fifteen million dollars of gold
in the treasury that is necessary to
maintain the gold reserve intact? The
president stated last week that the
continued purchase of silver by the
government is the sole cause of the de-
pletion of the gold reserve and the
financial stress, right in the face of the
undeniable fact that every dollar of our
gold that has been exported would
have been exported if the government
had not bought a dollars worth of sill
only that, but the proof is positive
that the bankers of New York have
been ready to supply the gold de-
ficiency in the treasury but Secretary
Carlisle has refused to accept it. and
here is the proof as it appeared in the
Philadelphia Ledger. of recent issue,
which is called Cleveland's personal or
gan, as sent by the mugwump New
York correspondent of that paper:
a prominent New York banker said
this afternoon to your correspondent in
regard to the published statement that
the New York banks were ready to
part with a large amount of their gold
to the treasury: When Secretary Car
Isle was last here the banks offered
him twenty million dollars in gold in
exchange for legal tenders. and. foresce-
ing the present depletion of the treas
ury reserve by reason of gold ship
ments, urged him to accept the offer.
But he declined, saying he could not
spare the legal tenders. -
Cleveland's object, and the object of
his secretary of state, is to keep the
gold reserve depleted and to deplete it
as largely as possible, in order that the
democratic party may charge that de-
pletion with responsibility for the finan
cial panic and hard times. 1t is too
small a loophole for escape, for all in
telligent people know that every dollar
of our gold that has gone abroad would
have gone abroad if the gold reserve
had been twice, thrice, or more times
the legal requirement. The balance
of trade has steadily increased against
the United States ever since the peo-
pie of the nation elected a free trade
administration and congress last No
vember. That election and the ignor-
rance and incompetency of the demo-
cratic government were and are the
causes of the financial stress and the
hard times, which will continue as long
as the democratic party continues to
threaten the repeal of the protective
features of the tariff and other repub-
lcan measures that placed the people
of the United States in the most pros
porous condition ever known in any
country on earth. Cleveland cannot
deceive the people with his gold reserve
humbug, when it is known that Secre-
rotary Carlisle refused twenty million
dollars of gold'' from the New York
bankers, and that every gold dollar
that has gone abroad would have been
exported if the gold reserve had been
more than ten times the required
amount. Democratic theories, ignorance
and incompetency are wholly RESPONSE
bic for the panic and hard times.-Iowa
State Register.