The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1894-04-19

Southern D moor ACKNOWLEDGEMENTS. ~
Northern Democrats 40
Total. ............... ...''.''' ia
Against the president
Southern Democrats .....,..... .......'..... ~
Northern DemOcra .............,... '..'''' %
Repuollcans .....''.'...' '''.'.''''''''''''
Populists ...............,.. .........'.'..''' D
Total ...........................1 IA
Your attention is called to the fact
that in the month OF February, the
first month after the sale of the bonds
for gold, about $50, 000, 900 of gold was
taken from the United States to tor-
eign countries. Thus verifying the
statements made before that time that
the gold obtained by the sale of bonds
would not remain ia the treasury, but
would pass through it as through a
sieve into foreign hands.
Mr.. Cleveland and those who agree
with him appear to believe that the
treasury of the United States should
BIZ conducted on the principle that
they must have gold reserve suth-
cient to cover and secure all outstand-
ing currency They consider this to
be necessary in order to keep the S341,-
600, 900 OF legal tender notes, $685. ,OOO,-
900 silver certi icates, and all the sill
yer in the treasury at par with gold.
They have changed silver from stan
dard redeeming money to the condi.
tou OF currency to be redeemed with
gold like paper. They seem not able
to comprehend that while the govern.
ment collects as taxes in one way or
another annually between $500, 900
and $500, 600 900, that the Al states and
the territories collect many millions OF
dollars annually in taxes, that
county and city governments collect
annually other many millions OF dol-
lars, that the notes of the gov.
erUment answer all of the pur-
poses of gold in the payment
of these taxes. They seem incapa BILE
of realizing'that the government notes
are lawful tender for all debts puollc
and private, unless otherwise pro
vided in the contract, and that tor
this purpose they answer in the p ace
of gold. And they leave out of sight
the fact that the people prefer the
government notes to gold on account
OF the facility OF handling them, and
will not therefore call Un the treasury
to redeem them. These constitute ad-
vantages to the treasury for the main
tenance of its notes at par which no
bank can possess. And wise t1Dan-
ciers ought 10 recognize them in con-
sideripg the question Of preserving
the power of government funds. I'm
der these circumstances l do not be-
lieve $4,000, 900 of treasury reserve
to be necessary, and l doubt If S25 ,OOO,-
0O0 is needed for that purpose. But
we cannot hope for this view to pre-
vail while the government is being
run in the interest of money and not
for the benefit of the people.
Under such circumstances the Lee
mocracy of Texas cannot follow Mr.
| Cleveland on the great questions Of
finance and coinage without self-stul-
LITIGATION, and base abandonment o.
principle and duty. On these ques
tions he has betray ed his party, sac
rificed the interests of the peo'
pie, and gone over to the Republican
party; and we do not dare attempt tt
follow him without consenting to sac
rifice the Democracy of Texas. w
cannot follow the president and hi!
| Republican associates, and the money
grabbers of the East. We Canno
abandon the principles OF the Demo
cratic party, and sacrifice the bes
interests of our people and the coun
try. We must preserve our princi
piles, and take care of our interests
and we must hold on to the organi
cation of the party. If anybod.
has to leave it to let it be the presto en-
and those who, like him, agree will
the Republican party on these gres
questions.
There is one other question of seri
GUS import to the Democracy of Texas
Democrats who are disappointed an
discouraged by the course which ha
been pursued by the president an
some of the Democratic members {
congress, have some of them quit, an
others Of them are considerin
whether they will quit the Demo
cratic party to join the Populists. In
Populists agree with the Democrat
on the questions OF coinage, the tarl
! and tax on incomes, and as to tn
, necessity for an increase of the vo
ume of the currency. 10 fact, the
borrowed these policies from the Den
| ocratic party. There is nothing, Their
. fore, Oh these questions to prever
their uniting with the Democracl
! but they advocate some other pollclt
which Democrats believe to be Viola
, tive of the constitution of the Unite
: States, dangerously paternalistic an
} utterly impracticable. On these the
cannot agree, l refer to their adv,
] cacy Of the issue cf money by the go
ernment to be loaned to the people @
3 land mortgages and on the deposit
, farm products in public warehouse:
and their proposal that the govern
: ment shall buy and own the railroad
: telegraphs and telephones. Thoi
l who framed and adopted the constitl
3 ton Of the United states certainl
q | ~, 10 Tod thnf the