Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-02-07
SHERMAN AS A REscuER.
HIS Futile Efforts to Relieve the strain
the Treasury.

SHERMAN AS A RESCUER.
Hi. Futile Efforts to Ro,ieve tho str.in
on the Treasury.
It is announced, with much flourish
of trumpets, by the republican organs
that Mr.. Sherman has come to the res
cue OF the democrats, announced to
them what ought to be done to relieve
the present situation, and what the re-
publicans will do If the task is left to
them. Unfortunately for the organs
that have derived great satisfaction
from this obvious humiliation Of the
democrats and the demonstration Of
the superior wisdom Of the republicans,
who alone can furnish statesman
equal to the duty Of the hour, Senator
Sherman denies that he has been play
ing the part assigned to him. He says
that he has simply put his own views
of what is required into the form of
bill; that he does not pretend that it
embodies the policy of the republican
party, and that he is not sure that he
would himself adhere to it. In con-
firmation OF this polite refusal to
be made hero on the part
of Mr.. Sherman, we have the
statements of various republican sena-
tors that they will make no sug-
gestions until the responsibility shall
have fallen upon them, and the partic.
ular statement Of Senator Allison that
what the situation demands Is simply
more revenue to be got from taxation.
So Senator Sherman as q rescuer with
draws from the stage.
Nevertheless, Mr.. Sherman is a very
able man, of much influence in his
party, and it is worth while examining
what he thinks-though only provis-
ionally-is required. It is very simple.
His bill contains two propositions. One
is the issue of bonds under the act OF
1878, or of three per cent. five-year GER
tifcates OF Indebtedness, to supply de-
hciencies in the revenue and for IRE
demption" purposes under the act of
1878. The second is that banks may
issue notes to the par value Of these
certificates That is all there is in the
Sherman bill, and all that can be got
out of it. It is good enough as far as
it goes, but it is utterly inadequate,
because it does not provide for the can
collation. of redeemed notes and leaves
the deadly act of 1878 unrepealed, to
destroy whatever good effect the new
loans might have. There is no need Of
specific legislation now to authorize
issues under the act Of 1878. The au-
thority exists. It has been acknowl-
edged by the republican administra-
ton, and used by the democratic ad.
ministration. The issue of certificates of
indebtedness for deficiency of revenue
is the only substantial thing in Mr..
Sherman's plan. 1t is, as we have said,
very good so far as it goes, but
no measure will secure the treasury
against the drain of its gold reserve, or
establish the complete sta utility Of the
currency. or fairly restore confidence
at home and abroad that does not pro-
vide for the cancellation of the legal
tender notes. That is the very core Of
all our trouble, and Mr.. Sherman does
not propose to touch tn. Y. Times.
POLICY AND PATRIOTISM.
The Republicans Ignoring Their Duty to
the Nation.
The republicans in congress ought to
join in passing bill for the protec-
ton of the treasury, for three reasons:
triotism. They cannot, as some of
their narrow partisans advise, ''leave
the democratic party in a hole" with
out leaving the country ''in a hole"
It is the national treasury that is en-
barrassed. It is the nations credit that
is in peril. National bankruptcy
would mean universal disaster. To
seek partisan advantage in such an
emergency is monstrous.
Second = The republicans are at
least equally responsible, with the
democrats for the present trouble.
It was republican congress and adj
ministration that squandered the sur
plus of 500, OOO, 900, that ran the ex-
penditures up to billion dollars,
that passed the Mckinley act which
cut off $50, 600 of revenue, that
passed the Sherman act adding over
81 sc, 200. 900 to the legal-tender paper
currency threatening the gold reserve,
and that scored q net loss of S122,-
100000 in gold to the country in four
years and reduced the treasury's
free gold s97, 200. 600 in the same time.
These are the presidents and puts
SAINT causes of the present currency and
treasury troubles. Have not the re-
publicans an obligation to help cure or
at least alleviate them?
Third-Such aid is a plain require
ment of policy. II no measure of relief
shall pass now the new congress must
and will be convened in extra session.
The republicans will control by
great majority the house in which
revenues must originate. With free
silver or greenback majority in the
house and the populists holding the
balance of power in the senate, will
their dilemma be easier than it now
is? Do they think they will be per-
nitted to go to sleep and "lie low" I'M
til after 1895?
Duty and policy unite in commend
ing patriotic action now.-N. Y. World