Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-04-02

standard. The: first effect Of this
law, well understood in financial
circles, but not by the people ut
large, was the severe money
panic Of OF 1890. Boston, New
York and Philadelphia had to
issue clearing house certificates.
But Secretary Window prevented
it from spreading over the
country by buying L. S. bonds
to the. extent of 100000, 900.
This surplus he had obtained
from two sources, LIST Ivy the
transferance of the National
Bank redemption fund from a
special deposit for that particn-
lar purpose, to the general avail
able assets OF the treasury, some
1854 900, 900; and End by the
enormous import and consequent
custom revenue, in anticipation
Of the Mckinley l'ill going into
effect in October of that year.
The second effect OF the ''parity
clause was the expectation OF
gold. Now the door was open
to loot the treasury Of gold by
the money brokers. Thus
several hundred millions of our
gold, now our only real money
of ultimate redemption, was ex-
ported out of the country. Who
does not remember that the
panic of 1898 Was laid to the ex-
portatiou OF gold by the bankers
themselves, and yet this unlimited
exportion was possible by virtue
of the ''parity clause" enacted at
their request.
Now we are in 1893, in
the midst OF the great money
panic. Silver dollars are sell
ing at II premium OF 3 per
cent in New York. What remedy
do the bankers propose? The
repeal Of the Sherman law? No,
only part OF 1.-THE purchasing
clause. Not the ''parity clause .
o, no! Simply the purchasing
! clause so as to still further limit
| the supply OF money to do bust
ness with ut home. So as to
make it harder for the debtor to
| obtain the dollar to save his
property from the sheriff. Pop
ulists are now in the field and
they of course object. But did
their protest amount to any
! thing? No! The purchasing
| clause of the Sherman law was
| repealed at the bel'est Of the
bankers. SenatQrSherman. him
| self, before an audience at Pau|d-
ing, Ohio, Aug. %, 1891 landed
the Sherman law berause it
furnished IN increased supply OF
currency, necessary he said,
''to the increasing population
| and trade But in 1898 he and
his stripe ruthlessly tore the
acknowledged necessary annual
supply OF money, over $5O,OOO,-
600, from the business world OF
this nation, and that as we have
said when the people were famish-
| ing for money and paying large
premiums to get dollars.
Thus at the request ofbankerS,
against the protest of Populists.
and we believe a majority OF Re-
publicans and Democrats a. well,
congress have enacted legislation
that lead to the expectation OF
probably half Of our gold, and
the stoppage Of our regular sup
ply Of silver, thus far probably
about 500, 100000, a contrac-
ton of the currency during the
last half a dozen years Of about
S40O, 900, 1000.
Is it any wonder that we have
hard times and that property is
depreciating? Why, it could not
be otherwise. The laws of finance
are as immut,lhlc as any other
law of nature. Double the stock
of money in any country, or the
world, and you double prices OF
commodities. Half the stock OF
money and You halve prices OF
commodities.
is THE TARIFF THE REAL TROUBLE?
The editor OF Willmar Tribune
claims to be q Past Master in
RepublicaDisn, and has taken
a post graduate course in the
philosophy of a protective tariff
He holds now that a protective
tariff under proper conditions il
the true national policy. But
the basis and prerequisite for q
protective tariff is a home market
unsupplied by home goods, that
can he made at home. TO talk
protective tariff when the home
market. is lacking to consume
the goods is utter nonsense. We
might as well talk about the
necessity Of the fifth wheel to q
wagon that lacks the running
gear. We have no home market
to-day. The great home marke ct
tor manufactured goods are the
farmers, 45 per- cent OF our pop
ulation-3O, 100000 of people
Contraction of money as above
pointed out, has halved the
prices Of farm produce, and MI
| the farmer now can realize from