Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-09-18

was decreased by the payment of govern
ment bonds during President Harrison's
administration to the amount of $780,
074, 900. The balance in the treasury
June 80, 1889, was s2S7, 531, 010; June 80,
1892, the balance was 1926, 500, 377, and
on June 80, 1894, 1t was s1l7, 5s4, 4s7. 1t
will thus be observed there was a net
saving, during President Harr.son's ad-
ministration, of s99. 234, 576, which was
utilized in the extinguishment Of that
amount of the national debt, and the total
reduction CT liabilities would include an
interest charge annually of at least SO, :
600, COO This presents to the American
voter, comparing the last Republican
with the present Democratic administra-
ton. In favor of the former and against
the latter, difference Of 1920, S79, 1873.
Neither viii the Democratic sponsors
find any consolation in our export and
income statistics as will be seen by the
following:
For the year ending June 80, 1892, the
total value Of our exports was 81, 030 27s, :
l4s, and for the year ending June 80, 1894,
ss92, lao. s72, showing decrease Of sl3S,-
1871 576. Imports paying duties, 1899.
1870 1928, 1893; imports paying duties, 1894,
s275, 1919, $50; q decrease of sos, 1879, lib.
Total imports, 1892. 1929 402, 462, total
imports, 1894, 1864, 9i4, 622, decrease Of
sl74 457, $40. From the statement pub
lished in the London Times of the 10th
ult 1t will be readily understood why the
Wilson tariff bill was SO emphatically in
dorsed by the people of Great Britain and
why Mr.. Wilson was entertained SO cor
daily by the business men of London.
The Times says that the board OF trade
returns for the last six months show an
increase In almost all kinds OF British ex-
ports to this country to the amount of
$3.50. 633, 1856, over that of 1891, while
there was decrease of imports from this
country to Great Britain during the same
period of sl4, 500. s95.
The continuously increasing deficit in
income az compared with our expenditures
has been the very reverse of what Mr..
Wilson said would be the fact under his
free trade policy. Free trade theories
enacted into law have borne their legiti
mate fruit, and our decreasing commerce
fatty bellies the predictions Of the free
trade fanatics of the last Congress. Demo
cratic methods have played sad havoc
with our industries and business at home,
and at the same time have brought in
creased prosperity to our foreign neigh
bors.
Another phase of the financial situation
which should have the attention Of Con.
gress At an early date Is the bond contract
entered into by Mcssrs Cleveland, Carlisle
81 Co, with the Belmont Rothschild-
Morgan syndicate, by which it would
seem that the management of our ma
tiunal finances has been entirely turned
over to the syndicate, without any ap,
parent effort or attempt at management
on the part of the administration. Never
before in the history of this country has
national administration so plainly and
loudly confessed it's utter incompetency.
Our bonds are negotiated with foreign
bankers, our productive, manufacturing
and commercial interests have been sub
ordinated to those foreign countries, the
gold reserve has been depleted, and In the
next issue of bonds, which is inevitable,
the syndicate will name Its own terms of
negotiation, and no doubt much more to
our disadvantage than heretofore. Unless
Congress relieves the situation by legisla
ton in the interests Of our own people,
our securities will soon be at discount
in an open market The situation is one
worthy Of serious consi deratlon.
When the Democratic party is asked, as
1t will be asked by the American voter,
for an account of It's stewardship, and to
explain these frightful figures Of financial
folly, what will be it's reply? The people
have certainly now enjoyed enough of the
results of free trade and Democratic mis-
management to forever satisfy its most
ardent devotee, and a return to the wise
mansgem of .the Republican party is
evidently the only policy that can safely
be adopted, for in that line only have we
enjoyed prosperity, and achieved our ma
tonal success.