The Worthington advance., 1895-07-18

VI n advance.
Rates for standing advertisements made
known on application.
Business cards u. year.
Local advertisements cents per line eacf
insertion.
Reading notices 10 cents per line each inser'
ton.
~ All accounts payable monthly.
Henry Clews, a New York banker
says:
Owing to the growing demand in
the merchandise markets, there is a
probability of the fall imports being
large, and that probability is streng-
thened by foreign reports of large
purchases by American importers. It
is therefore the more important that
our exports of produce should be on
a liberal scale, so as to obviate the
possibility of important exports of
specie, that being the only sore spot
remaining from the financial dangers
through which the country has pas
sed since 1898. In some quarters
there is a little solicitude as to how far
the Loan Syndicate may be depend
ed upon to protect the Treasury
against liability to export drains Of
gold after the winding up of the loan
contract of last February. There are
no open assurances upon this point,
but the feeling is almost universal
that the syndicate will not retire from
it's regulation of the foreign exchan-
ges until an understanding has been
reached as between the Treasury and
the large local holders of gold that
will protect the government against
it's former exposure to drain. Such
couse seems so necessary in order
to prevent an ultimate collapse of the
syndicate scheme; it is also so impor-
tant to financial interests of every
kind, and the prevention may be so
easily achieved in pursuit of mere or
dinary methods, that it is generally
regarded as an entirely safe assump-
ton that all needful precautions
against the return of invasicns upon
the Treasury gold reserve will be ad-
equately provided for. This being
assured, there remains no cloud in
the financial horizon to suggest a
misgiying.
That is to say, the democratic
hopes for increased business is based
upon increased imports, and, as Mr..
Clews says, our exports should "be
on liberal scale.''
After three years of democratic con-
troll the workmen of the United
States know what Increased i'm
ports" means. They know that every
dollars worth of goods imported
means just that much less to them.
However, the free trader contends
that if we buy foreign made goods
we pay for them by increased ex-
ports of our own goods-farm pro-
ducts for instance. This argument
is weak and has been picked to pieces
time and again by the friends of pro-
lection to American industries. Eu-
ropeans do not buy our food products
unless they need them, and then only
in the smallest quantities possible.
The Burlington Hawkeye, COM
menting upon Mr.. Clews' interview,
says:
In other words, the country under
the present democratic policy is at
the mercy of the syndicate of London
and New York bankers who foated
the last democratic loan and made
several million dollars at the expense
of the American people! 1T is,
therefore, the more important" says
the frank. New York banker, ''that
our exports of produce should be on
a liberal scale"-which, when read
between the lines. means that if the
prices of American cereals and food
products can be kept down low
enough to undersell the cheap "mar-
kets of the world" another national
financial collapse through the drain
age of gold to Europe may be aver
ted.
That is to say, if the American far
mer will only be obliging enough to
take less for his wheat, corn: cattle,
hogs, wool and other products, and if
the American manufacturer will kind
" consent to manufacture less goods,
and if the American workingmen will
considerably give up some their jobs,
we may be able to export enough OF
our products to pay for our heavy
imports and thus enable the Roths.
child Belmont Morgan syndicate of
capitalists to save the democratic ad-
ministration from again precipitating !
this country into financial stress!
What cheering outlook, what a re-
assuring contingency the country