The Kosciusko star. (Kosciusko, Miss.) 18??-1898, 1895-11-22
OUR NATIONAL FINANCES.

for the purpose OF bringing the
! gold reserve up to one hundred
million dollars, the Treasury Off
Gals told US that that sale would
tide the government over until
November, when the exports OF our
cereals and cotton would throw
the balance OF trade ia our favor,
and that we would import gold in
stead OF exporting it, and that no
further bond issue would be neces-
sary to maintain the gold reserve.
But what are the facts that con-
front US. The balance of trade is
in our favor by reason OF the mil
lions OF dollars worth OF cotton
and cereals that We are shipping
to foreign countries, yet we are
now exporting gold, and the gold
reserve has diminished down to
less than $50, 900, 900. CAnd now
those same Treasury officials say
that there will either have to be
some Congressional legislation or
another bond issue in order that
the reserve may be kept up to the
$500, ooo,o 900 mark, and as We
cannot reasonably expect any ia
vorable legislation from a Repub-
llcan congress the bond issue must
| follow.
Now this financial muddle re-
suits from the government persist
irg in the folly Of taking what is
due it in any kind ofmoney, silver,
gold, or paper, but paying its own
debts in nothing else but gold.
So then until the government be-
gins to pay its debts in the same
kind Of money silver, gold and
paper (and there is no law against
it that it pays to its creditors, we
can see no end to the issuance of
bonds, and consequently contin-
ucd increase of the national debt.
In support OF our position We
take from the Times-Democrat the
following remarks made recently
in Washington by Mr.. Holman of
Indiana, on this subject, which
shows that if the would
persue the common-sense policy
Of paying and receiving in the same
kind of money our country would
soon be in more prosperous CON
dition:
"Watchdog' Holman, of Indi-
ana, who knows the relations OF
the United States treasury to the
finances Of the country as well
probably as anyone living, hit the
point in some remarks he made on
! Thursday in Washington. "The
currency per capita of France, -
said Mr.. Holman, (Which has
been most successful next to Bel
GUM in preserving the prosperity
of her people, is stated by Ameri-
can statisticians to be S32; but as
a matter of fact it is according to
French statisticians $50, and
though her debt is large, the ratio
between the taxation and the vol.
umc of currency is such as tc
make the taxes least burdensome.
France maintains her volume o.
currency without difficulty, com
posed of gold, silver, and paper
and she is the best OH of all nations
She never suffers from any raid or
her gold. There is no defect il
our law which subjects US to sucl
, raid on our gold more thar
France has in hers, and that W,
Lave suffered arises entirely from
} administrative policy. There i.
nothing in the law which compel
the gold payments, and the ad
! ministration might manage ant
protect its currency under the ex
: listing laws very much as France
does, if 50 disposed"
q That is a plain truth plainl,
stated, and frequently heretofor,
, insisted on by the Times Demo
crat. If the administration woul,
, simply conform to the existing Law
| II 4 4 4 .