St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-19
NOT MUCH ABOUT FINANCES
But Plenty of. Dismal Dole
Anent the Democratic
Tariff.
W0ULD-BE G0V'NOR EUSTIs
And Lesser Lights Fret the
Air With CaIamitOuS
Forebodings.

The Union league resolved itself
into a debating society at its regu-
lar meeting last night, and tackled
the currency question, but wound up
in the midst of tariff debate. They
also failed to determine how the bal
ance of trade lies as between the
United States and Europe, opinions
on the subject being about equally
divided. Fred N. Hendricks, presi-
dent of the club, in opening the
programme, said that the currency
problem would certainly be the is
sue in the next presidential cam
paign, and he considered it the all
absorbing question.
Assistant County Attorney Peter
son said the issue of bonds was no
doubt a necessity, but in the end the
Democratic party was chargeable
with the creation of the deficiency.
He attributed the increase in gold
exports to the accession of the Demo-
cratic party, and to the want of con-
fidence hereby created in financial
circles. In 1892 gold exports and i'm
ports almost balanced, but yin 1888
there was a balance against the
United States of $109, 900, 900. England
was the creditor nation, and Amer
lea bears the same relation to the old
country that Minneapolis does to the
East-looking eastward for it's cap
ital, this country each year owes
$3.50, 900, 900 to England, and the trou-
BILE was that people on the other
side of the water were afraid Amer
leans would not pay them in honest
money, and they were calling their
money home.
The remedy, as he conceived it,
was to quit issuing dishonest money.
The government was doing a bank
ing business, and the banking bust
ness should not be in the hands of
political parties. He believed that
on the accession of the Republican
party the government would return
the issue of paper money into the
hands of the national banks
William H. Eustis agreed that the
issue of bonds was a necessity He
also Endorsed the previous speaker
country, he said, was leaking. Some
thing must be done to relieve the
situation. Two planks in the Demo-
critic platform he charged with the
whole trouble. The one declaring
protection unconstitutional, and the
other declaring for a tariff for reve-
nue. only. Something was wrong, he
said whom tho on11nfrx- hoe, ;e,e,,o
$165,000,0 900 in bonds to keep above
water. He then launched out into a
discussion of the protective system,
claiming that it would again be the
issue, and the only issue, in the next
campaign. The currency problem
would be solved before that time.
Labor Commissioner Powers fol-
lowed up the line marked out by
Mr.. Eustis, and confined his re-
marks to the Ideal system of pro-
= lection" Talking on the currency
question, he said, was like talking
of fixing the steam pipes in a house
when the house was on fire. The
hre must be put out. The free trade
agitation was the key to the trouble.
Home markets were necessary to the
country's prosperity During all the
depreciation in values only export
articles lost in value. Cotton had
constantly deprecated for the, last
twenty years. Prices on wheat were
made in Europe, and were now only
third OF what they were ten years
ago. Products having only a home
market We're holding up to almost
their former value. The discussion
was then made general, and the
meeting closed after an Intellectual
attempt to determine which way the
balance of trade is going.