The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-02-02

was again realized. Between the date
of this second issue and the present
! time, covering a period of only about
two months, more than 500 900 600 in
gold were expended without any can
collation. of government obligation, or
in any permanent way benefitting our
people or improving our pecuniary stu
alton.
STARTLING CONDITIONS.
The financial events of the past year
suggest facts and conditions which
should certainly arrest attention. More
than $172, 900. 900 in gold has been drawn
out of the treasury during the year for
the purpose of shipping abroad or
boarding at home, while nearly $1O3,-
900 of the same were drawn out dur
ing the first 10 months of the year. A
sum aggregating more than two-thirds
of that amount, being about $50, 900 900,
was drawn out during the following two
months, thus indicating a marked ac-
celeration of the depicting process with
the lapse of time. The obligations upon
which this gold has been drawn from
the treasury are still outstanding and
available for use. repeating the ex-
haustng operations with shorter in
tervals, as our perpleXities accumulate.
The conditions are certainly superven-
ing tending to make bonds which may
be issued to replenish our gold less use
full for that purpose. The adequate
gold reserve is in all circumstances alb
solutely essential to upholding our pub
lie credit, and to the maintenance of our
high national character. Our gold has
again reached such stage of di-
minutiOn as to require its speedy re-
enforcement Aggravations that must
inevitably follow the present conditions
and methods will certainly lead to mis-
fortune and loss not only to our nation
al credit and prosperity and to financial
enterprise. but to those of our people
who seek employment and means of
livelihood, and to those whose only cap
ital is daily labor.
REVENUE OF LITTLE NOTE.
1t will hardly do to say that simple
increase of revenue will correct our
troubles. The apprehension now ex-
listing and constantly increasing as to
our financial ability does not rest upon
calculations of revenues. The time has
passed when the eyes of investors
abroad and our people at home are
fixed upon the revenues of this govern
tracted their attention to the gold of the
government. There need be no fear
that we cannot pay our current ex-
penses with such money as we have.
There is now in the treasury a comfor-
table surplus. more than 500, 900 900, but
it is not in gold, and therefor does not
meet our difficulty.
l cannot see that differences of opin-
ion concerning the extent to which sill
yer ought to be coined or used in our
currency should interfere with the cOun-
sells of those whose duty it is to rectify
the evils now apparent in our financial
situa ton. They have to consider the
question of national credit and the con-
sequences that will follow from it's col
lapse, whatever ideas may be advanced
and insisted on as to silver or bimetal-
lism. The proper solution of the ques-
ton now pressing upon us only requires
recognition of gold as well as silver and
a concession of it's Importance, right
fully or wrOngfully acquired. as a basis
of material credit and the necessity for
an honorable discharge of our obliga-
! tiOns, payable in gold, and the badge
of solvency. I do not understand that
the real friends of silver desire a cOndi-
ton that might follow the inaction or
neglect to appreciate the meaning Of
the present eXigency. if it should result
in the entire Punishment of gold from
our financial and currency arrange
ments.
OUR OBLIGATIONS.
Besides treasury notes, which certain
ly should be paid in gold, amounting
nearly to $500, OOO, 0O0 there will fall due
| in 1904 500, 600 600 issued during the last
year for which we have received gold.
and in 1907 nearly $780, 900. 900 4-per cent
bonds issued in 1877. Shall the payment
of these obligations in gold be repu-
dated? If they are to be paid in such
manner as the preservation of our ma
tional honor and sOlvency demands. we
should not destroy or even imperil. our
ability to supply ourselves with gold for