Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-03-21
a CAMPAIGN OF EDUCATION.
Some Inside Facts the Financial
Situation.

Some Inside Facts the Financial
| Situation.
The speech made BY Assistant
Secretary of the Treasury Curtis
at the recent dinner of the
Democratic club is the most important
utterance on the subject of the recent
| bond issue that has come from anyone
having the right to speak for the adj
miniStration. Mr.. Curtis authority to
do so is unquestioned by all who know
his relations to the various efforts that
have been made by Mr.. Cleveland and
Mr. Carlisle toprotect the public credit
Notwithstanding the refusal of congress
to perform its plain duty. Mr.. Curtis
assurance that the treasury was com.
PEELED to accept the terms of the syndi-
! cate which represented the foreign
bankers must be taken as conclusive OF
the condition of mind in which the
| Washington authorities found them
| selves Mr.. Curtis is right in saying
that the government was in the posi-
| ton of Dank on which a run was in
| progress, and the administration natu-
| rally desired to stop the run. AS the
Weekly said, in commenting on this
loan, time was essential, and this con
| sideration might easily have prevented
! the effecting of a loan in the open
| market. Moreover. gold expectations
! have been checked, at least for the
time, and Mr.. Curtis regards this
fact as of the first Importance, and as
full of promise for the future safety OF
the treasury from the raids of the gold
hunters. ALI true friends of the coun-
try will hope that Mr.. Curtis anticipa-
tions of good results to follow the bond
issue will be realized, and that the
drain of gold from abroad and for
boarding at home has ceased.
At the same time we must not shut
our eyes to the facts of the situation.
The greenbac and the treasury notes
still exist as menace to the treasury
gold whenever capitalists at home or
| abroad shall be frightened by the
clamor Of our silver and fiat money adj
vocates who will be in power in the
next senate, no matter what may be
the complexion of the new house Of
representatives. These paper demand
obligations will not be got rid of until
the popular demand for their abolition
grows to be as intense and clamorous
as was the demand for the uncondi-
tional repeal of the Sherman act. A
remedy has been suggested that is
more specious than sound. It is that
the government tide over it's diff
| culties until the revenues became
greater than the expenditures. After
that event shall happen, the secretary
of the treasury may hold all the green
backs and the notes of 1890 that come
into his possession, thereby diminish
ing the amount of the instrumental
tiles available for drawing out his
gold. This method would be slow and
uncertain. Besides, there is no reason
to believe that a surplus would not
again tempt congress into extrava-
gances that would once more compel
the secretary to pay out his accumula-
ton of paper. Not only is none but a
thorough remedy to be thought of in
dealing with our monetary difficulties,
but no remedy can be thorough that is
based on the presumption that con-
gress will become wise and patriotic.
A good deal has been accomplished in
this country by campaigns of educa-
ton. Not only tariff reform. but civil
service reform, and, within the memo
ry of most of the men in public life,
currency reforms have been brought
about by the education of the people
who elect congressman every two
years, and whose voice eventually finds
an impressive Judgment in the dull
ears Of senator's. The newspapers,
with their constant arguments and ap-
peals, did much to drive the imitation
- %
the republican party. although at that
time there was a sufficient number of
senators who were capa BILE of thorough
ly debating financial questions to
enormously aid the pressure from
without. At present. what with the
young men from the mining camps who
have been made senators for the pur
pose of keeping up the price of silver
at any cost to the credit of the coun-
try, and the politicians who are so
afraid of the camps That they are hid
ing in the baleful shadow of interna-
tional bime tallism, nearly all the work
for sound money must be done in the
newspapers, by clubs and their pamph-
lets and on the platform
The new house of representatives is
probably sounder on the money ques-
ton than that which has just ended its
inglorious existence. It is true that
many republicans are unduly fond OF
the greenbacks, and that some from
sound-money states voted with the
populists, and fiat-money men to re-
ject the contract under which the adj
ministration sought to save the coun-
try sixteen million dollars by offering
a gold bond. But the reasoning of the
great money centers is more likely to
affect their minds than those of their
democratic associates in folly. The
condition of the senate was OF course
deplora BILE. Its ignorance, self1shness
and lack of principle were phenomenal
There is no parliamentary body in, the
world. unless it may be found in some
remote South American country, SO
little entitled to respect. Its mental
and moral conditions are such as to
create a doubt of the value of cen
fury of parliamentary institutions. A
financial debate in the senate must
lead the stanchest American to wonder
if those who make our laws have
learned anything whatever from the
experiences of mankind or from the
history of their own race And yet
even the majority of the senate can be
driven by fear, if it cannot be con-
WINGED by arguments addressed to the
reason
We are assured by competent author
ity that in the cities Of the south sound
money ideas prevail. We know that
they do prevail in New England, the
~ tot nd md n, ho