St. Paul daily globe., 1895-10-21

The Republicans must be in dire
straits in Ohio. Nothing else would
excuse the oratorical eXcesses of
Senator Sherman. AS Sheridan said
of Dundas, 1.-The honorable gentle
man is indebted to his memory for
his jests and to his imagination for
caused by the use of the gold re-
serve to pay expenses of admins
tration, he assured his Massillon au-
dience. This has the merit of novelty
and the suspiciousness of an after
thought. Candid and intelligent men
of his party acknowledged that the
major cause of that panic was the
presence in the circulation, in in
creasing quantity, of notes, redeem
YER brought under the act which,
popularity, bears the Senat tors name.
Uncandid and unintelligent men of
his party said it was caused by the
change of administration with it's
promise of freer trade. 1t is left for
the venerable senator to discover an
unthought-of cause, and one equally
baseless.
The administration used the gold
reserve Ito make good the deficits
caused by the Wilson-Gorman-Bri
tariff law" says the senator. AS a
revenue producer that law Gid not
so into effect until Aug. %, 1894.
Until that date there was a revenue
law in force, enacted in October, 1890,
by the aid of the senator, whose title
declared it's purpose to be ''to re-
duce revenue" We have shown how
completely it wo%led out its pur-
pose in operaSen, reducing the in
come from >Estoms from 1929, ,552, ,2O5
in 1890 y $131, ,S1S,53O in 1894. We
have sS6wn how this phlebotomizing
pro/Sss was supplemented by in
~asing the expenditures from $685.
61S.5 .5S4 in 1890 to $459, ,374, 1897 in 1898.
Outgo increased $1O0, 900, 900; income
diminished S10O,OOO,OOO result, def
icit.
Under the operation of Republican
legislation, whose momentum could
not be checked, shortening income
and augmenting outgo, for which
this ancient senator is largely re-
sponsibIe, the cash balances in the
treasury shrank steadily from about
$143, ,0O0, 900 at the end of the first
quarter of 1891 to about $S4, 900, 900 in
the first quarter of 1894. With the
changed and better methods it had
passed, in the first quarter of 1885,
its amount in the same quarter of
1891, and by the end of the second
quarter of 1895 had exceeded it near
ly $40, 200, 000 There is an old fable
of the wolf on the stream above the
lamb who charged the latter with
rolling the water, that is suggested
by these recrimina tons of Mr.. Sher-
man. We did not believe that the
prospects Of Democratic success
IN Ohio We're so good, but this reck-
lessness of assertion betokens a des-
peration in the situation that makes
the Republican leaders dread a Dem
ocratic victory.
Again the proposition of this ad-
ministratior TO divorce the govern
fnent from banking by retiring the
greenbacks ana treasury notes re-
deenable in gold, either actually or
practically, is upbra1ded by the sem
ator because it would reduce the
country TO single silver standard
Tor the reason that the silver GER
fiEcates and treasury notes (of lS90)
must be redeemed in silver" The
sreasury notes would be retired as
well as the greenbaclSs. The silver
certificates are made, or their face.r
deemable in silver only. They have
never beer redeemed by any other
administration i'll anything else and