Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1895-01-31
WAY SIDE TALK.

|
The business situation of the country
still continues in an unsettled condi-
ton. The steady depletion of the treas
ury reserve is causing anxiety in the
great financial circles, and there are
those who are fearful that the country
will be forced to silver basis. Over
I $14 ,000, 900 was withdrawn from the
4 reserve last week leaving but S56, 100000
Of gold on hand. Another week IS with
drawals without any action on the part
! of our national financiers would almost
certainly bring on a genuine panic.
! The boarding of gold is going on very
/ fast, while congress merely sits and
4 whistles the time away Prof Wilson,
who knows SO much in theory upon fl
nancial questions says, 1--WE have a
4 flush treasury" and he is trying to
i prove his assertion. The silver men
are happy in doing nothing, believing
/ that they see the silver pay day dawn
/ ing. The Democratic house is hope
i lessly divided and no man knows what
/ if anything, will be done to avert the
nations financial crisis We are pros
/ porous country, unfortunately in the
hands of incompetent legislators; but
/ if congress would wake up and author
ize the treasury to issue popular loan
for the maintenance of the gold reserve,
! the people would patriotically respond
aud take it up whatever the amount.
The point is this; our governments
gold reserve should be 500, 100000,
| With this amount the financiers, both
tat home and abroad, are satisfied as be-
ing sufficient to keep our national
credit good When this reserve drops
nearly half, as now, distrust arises,
the boarding of gold commences, and
the fear that the government may be
forced to silver basis works the rest of
( the mischief
1t is argued that it is useless to ne
lgotiata loans from the bankers for their
ek~Id sihce they can tuTn right round
and draw out again. Many very able
/ 1inanciers, who differ materially on
questions of revenue from tariff agree
that there should be popular loan au-
thorized of 200,000,000 or $500, 100000
for bonds at q or per cent; these
| bonds to be of low denomination pay
able in gold With this amount the
government would he able to do busi-
ness until it is demonstrated whether
under the workings of the new tariff
| laws there be sufficient returns to meet
the expenses. Just at the moment the
government is like many business
man who has small money capital and
has to borrow until bills receivable are
collected. There is not the slightest
reason for any financial trouble, but we
doubt very much if congress can be
made to move in any reasonable way
for the proper borrowing of N oney un-
less the president comes out boldly
saying he will call an extra session if
nothing is done in this. Even the lash
of the presidents whip may fail to ar
rouse congress to its duty, but we would
like to see the experiment tried.
Since the writing of the above the
president has given to congress a special
message recommending popular gold
loan ; an issue of per cent 50year gold
bonds in denominations of $50 and up
wards. If, now, we have in congress a
majority in both parties who are pat
riOtic enough TO accept the sound finau-
cial advice given and if they will pass a
bill in accordance with the presidents
views there will be speedy relief for
the treasury, and a smile of satisfaction
will pass around the banking and gen
eral business circles. 1t is to be hoped
that all reasonable influence will be
brought to bear upon congress to come
to time at the Presidents call.
The great strike of the Brooklyn troll
ley car employees is practically over and
as is usually the case the strikers have
come off second best The strike was
ill-timed and the moments rioting COM
menced was lost. Two lives were sac
rifced and thousands of hard earned
dollars of workmen spent In the cause.
4 lNo gain has been made for the strikers
and those whose places have not been
taken are glad TO get hack to work. The
expense to Kings county during the
trouble has been enormous the incon-
venience to the public great, and the
disappointment and sufferings of the
strikers and their families considerable.
The situation in several counties in
Nebraska is pitiful in the extreme and
too much can not be said and done in
relief work for the destitute. For sew
eral years crops have been falling and
the farmers have been hoping each year
for rains that never came. 1t was no
fault of theirs that land rich and full
of promise should gradually dry up and
blast their hopes. They worked faith
fully and with courage, spending their
little savings and literally doing all
that could be done for themselves. Now
these Nebraska farmers and their fam
lilies are suffering with cold and hun
ger. The appeal for aid comes right
home to us all. Everyone can do
something and whatever is done should
L. I<xn, sal-I