The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-10-12


cratic Administration
The present administration has re-
duced the treasury 10 the most humili-
nting condition IL has ever been placed !
In, either Ia time Of peace or war. IL
Il absolutely az the mercy OF tho banks
mot OF all the banks combined. but,
what il still moro humiliatinR. of n
very small number OF them. Tho
banks and bankers that have the treas
ury ut their feet can be counted on the
| fingers Of the two hands, and leave sew
eral digits out of the enumeration
In one sense the treasury Is Ia a posi-
| ton of supreme strength II to-mor-
| row II invited bids for a loan OF two.
hree or four hundred millions Of dol
| lars. offers aggregsting three times the
amount would pour la on II before tho
/ end of q week. But neither Mr.. Cleve-
land nor his party has had any part In
bringing about this superb credit condi-
ton. IL is the result OF republican
craftsmanship, republican economic
policies and principles, republican OBJ
scrvance OF plighted faith, from the
| days Of Lincoln down to those of Har-
rison. The four great achievements of
| the republican party are: First the
preservation of the union; second, the
abolition OF slavery; third. the up
| building OF our manufacturing indus
tries under the protective system. and,
| fourth. the elevation OF the national
credit TO the highest point IL has ever
reached In our history.
An analysis of the unsatisfactory
we viii rot say condition
OF the treasury must convince every
impartial person that Cleveland and
Carlisle are in their present financial
plight because OF the successful assault
they and their party in congress made
on tho tariff policy Of the republican
party. In their desire 10 get as near
as possible 10 free trade conditions q
law was enacted which. in its revenue
producing provisions, is inadequate 70
| meet the current expenses of the gov
crnment Home and foreign financicrs
were the first TO realize this fact and
| TO prepare 10 profit by IL. No blame
can justly attach 10 them Their BUSH
ness Is TO make money in every way
possible. When they open their vaults
TO uphold political parties or TO
strengthen governments, personal ng-
| grandixcmcnt Is their chief considera-
ton. They look, first, 10 the security,
and, second, TO the pron.s 10 accrue TO
them Their transactions are not
based on sentiment IL their opera
/ tions rested on so tiimsy foundation
banking houses would be no better
thnn SO many annexes OF "a lunatic asy-
lum. But the banks are not in that
| condition. The treasury, under the
| Cleveland Carlisle management and
manipulation. is the financial mad
house, and it must afford keen enjoy
mcnt as well us substantial profit to
the chiefs OF tho gold Syndicate" and
their associates 20 sec the amusing
antics of tho lrnatics Ia IL.
The latest news from the boss bed
larnitc and his secretary is that they
will not order another bond sale TO
maintain the gold reserve before tho
meeting Of congress- This determine
ton. we are told, has been arrived at
because new bond issue. while IL may
save the treasury and help to preserve
whatever stability there is in business
| conditions, would have an injurious
effect on the approaching elections.
What does this mean? That the ma
tional finances arc TO he monkcyed
with In order 20 help ont PARTISAN poll
ticians and policies in the states where
elections come off in November. This
| Is the most reprehensible exhibition OF
''pernicious political activity" on the
| part OF a national administration that
VIC haze sTss had IT, Is the admission
i tk.A -. 4..,...,,x, .lnpu ~f,,an4 oe a. Il
now conducted, Is, first, a machine TO
enrich banking syndicates; and, second.
that its operations AFRO directed with
view 70 influence state elections, and
not conducted, as they should be, on
strict business principles With this
| brazcn announcement comes the nddi-
| tional one that when congress meets
the next republican congress elected
On platform repudiating Cleveland.
| ism and all that IL implics--the prcsi-
dent will throw the responsibility"
for the present condition OF the treas
ury on the Legislative branch of the
government Mr.. Cleveland is an adept
In the responsibility throwing" bust
ness, but his triclScry will not 90 this
year lie cannot fool all the people all
the time. The responsibility for all
that Is wrong and rotton in the finan-
cial situation rests on him and on his
party. lie and it made a law that pro-
duccs a deficit. instead Of adequate
revenue as Il should produce That is
why hc Is borrower and begFar at
the doors OF tho banks.
Noresponsibility for this humilinting
situation rests on the republican party.
| m y. Recorder
Democratic Tarif Reform.
IA has nlxxavs been tho Same. Tariff