The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1894-08-17
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Democratic party lie only good at
finding fault with every step
taken TO promote national pro-
gress. Its { dog in the manger.
1t cannot do the work properly
itself, and It objects to any one
else doing it.
We have had one year of its
full control of the government,
and the record of that twelve
month is certainly not reassur.
ing. The threat of tariff reduc.
zion began to cast its shadow
over the nation from the day of
election in 1892. Then followed
a time of suspense and doubt, and
then every business man in the
country began to trim his sails
to meet the coming storm. There
is no need of recounting the story
of the financial scare followed by
a severe business depression
which yet exists, and which will
not be removed until the Republi-
cans are once more placed in
power.
The tremendous nature of this
disturbance can best be realized
when its effect upon the national
finances is considered. The of.
fetal Treasury statement for
March 1, 1s93-the last before
the Democrats came into power
the Treasury to con.
tain a cash balance of 1924, 12s,.
097, including the full hundred
millions of gold reserve. This
was exclusive of sss. 1866, s72, a
large part of which was cash in
the lands of the disbursing Of
ficers of the government, to pay
expenses yet to accrue.
What followed under the
Cleveland administration /? The
surplus of S24, 900, 900 above the
gold reserve fund was all spent
and about $50, 900, 600 of the gold
reserve used, to pay the running
expenses of the government.
Obligations were notpaid as they
became due. Then, to replenish
the gold reserve, it was neces-
sary to increase our bonded debt
by the issue of $4,000, 900 Of
bonds, with the prospect that be-
fore many months the admins.
tration will be compelled to re.
sort to the same process to re.
plenish it again. How does this
compare with the record of Re-.
publican administrations !?
The Mckinley law went into
operation in October 1891. Our
merchandise balance of trade for
the first fiscal year under thai
law was 5000, 100000 in our ia.
Vor, while our import and export
trade was larger than ever be.
fore in our commercial history.
The next fiscal year showed a
steady increase in cur trade
month by month, until the Presi.
Dental election of 1892. Then
trade began to decline-at first
slowly, then faster; and the
four years of this Democratic
administration give the sinister
promise of being worst than. the
tariff times of 1857 and succeed
ing years.
This financial showing is bad
enough, but the business stagna-
ton, which is the direct result of
Democratic supremacy, is cost
ing our people millions. or
course the losses to the people by
the enforced idleness of thous-
ands of workingmen, the reduc-
ton in wages and the shortening
of working time with others, can
only be estimated; but stattsti-
clans of note declare that the de-
crease IN the wages value of
American workingmen within
the mast seven months ~ soe5