The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-08-20


ton. Not so with the Democratic party.
1t was determined at all hazards to give
the country some taste of what it called
tariff REFORM" and so in December, 1893,
before the country had fairly convalcsccd
from the financial commissions of the sum-
mer, the scheme of new tariff legislation
was entered upon, the Wilson bill was in
cubated. 1t was long time on it's pas
sage and as it left the house, it was an
doubted free trade, or revenue tariff meas
ure and met the hearty approval of Cleve-
land Had it become law in this cOndi-
ton, it would have created far greater
industrial disturbance and a far greater
deficiency of revenue than it nas Gnne with
it's senate amendments as it finally became
law without the approval of the presi-
dent.
From the very first TIL the present mo.
menr this law has continued to give us Il
deficiency of revenue. From August 1894,
till July %, '9G, the aggregate of such de-
fcicncy was sol, 131, 49, or a monthly aver
age of So, $50 1873. Add to this the delicien-
cy of revenue that occurred from the none
tary crisis and industrial disturbances of
1893 and 1894, under the Mckinley law, and
the aggregate of the deficiency during
Clevelands administration, up to the 10Th
day of July, 1896, will foot up to $151.5J7,-
1877. At the very time when the Wilson bill
was put on it's final passage, there was Il
deficiency of upwards of $6O,GOO,O00. And
at that time, in view of the depressing in
dustrial situation, instead of passing Il bill
reducing the revenue, bill should have
been passed providing for a moderate in
crease so as TO overcome the deficiency and
leave the government with ample resources
for running expenses and for unforeseen
and extraordinary contingencies. Was
there ever greater political i.,fatuation ard
shortsightedness manifested by legislative
body than that manifested by the house of
representatives of the Fifty-third congress
in SSino that time and uD1pr those
conditions the original Wilson bill? Had
that bill not been greatly improved and
amended in the senate by the joint efforts
Of Republicans and conservative Democrats.
the treasury would have found itself in
chronic state of bankruptcy. AS it is, it
has been. as we all know, q great borrower.
1t was this deficiency of revenue, perma-
nent and continuing, reinforced by the
threatening shadow of silver mOnomctal-
lism, that led to the large withdrawals Of
gold in 1894. 1880 and 1896, and to the i'll
crease Of our INTEREST," bearing national debt
to the extent of $26232o $50. In a weak
and depleted treasury, the financial world
saw the
Specter Of Silver MOnomc tn lliSm
and hence gold was withdrawn, not only
for the liquidation of international trade
balances, but also for purposes Of heard
ing, and for purposes of absorbing American
securities of frightened foreign investors.
suddenly thrown on orr markets. Had our
treasury been as full and CvcrtCWinI from
1893 till the present time rs it was from
tho time of specie resumption. i'll 1919, till
1888. there would, in all probability, rot
have been greater degree of gold with
drawal since 1892 than there was prior 20
that time. especially as he proportion
of silver tc gold has rot been on the in
crease since 1893. when the forced purchase
of silver was abandoned.
From July 1, 1879, till July l, 1892 there
was a surplus revenue amounting in The
aggregate to 81. 1877 .43G"19. or IN annual
average of $S1 .245, AL; and during This pc
Rod the aggregate gold withdrawal
was only $4>,310.S9G. From July ].
1872, till July 1. 1896, there was
an aggregate deficiency Of S1H.3E9,N'
or an annual average Of S340U.2b': and
during this period the aggregate Withdrawal,
OF gold from the treasury was S46O0O0,O0O
Whatever relief could have )een expected
from the repeal of the compulsory silver
purchase law was more than neutralized
by undue tariff legislation and couse-
Gucnt deficiency of revenue.
In 1872 III" Democratic party appealed
to the American PEOPLE for their support.
and promised them. if placed in over.
tariff reform, better times and better ana
ircre econon.ich folm of government 'hc
Republican party warned the people ina
told them that from its very texture and
make up. the Democratic party was lncom-
petent TO give the people wholesome
and safe administration, that thei" prom
Used tariff reform was snare ana oe-
lueion. ard would lead TO Ed1st:'al disaster
for both capital and labor, and that times,
instead of becoming better, would be uch
worse and far more burdensome anu Try
ing But the warning was disregarded, and
the appeal of the Democracy was feeicd
and found favor. The people took he party
at it's word. and Cleveland was tlrt TED
president with n house of representatives
| in full harmony with his views.
How have the promises OF tie l'slh'-
cratic party been kept? They have given
us far, very far. from a better or more
economic administration. Ihey haFF gwen
Us their tariff reform. with Dig 1feasu'!
| deficiency. They have given us cur
rency famine, and a largr increase OF the
| public debt. And they have brought us
such an Industrial disturbance and stasn;!'
| tion as was never known under kepuDll-
| can rule nor since the earlier days or INC
republic Capital has been paralyzed or
| driven into hiding, and labor mas $1,000
waiting by the wayside or been on the
tramp. The Democratic i,luslans' at least
| of the past. arc now dispelled. We can now
| all see. and many of us feel the biundel
| of 1892 BIT what of to-day? The people
| were fooled with promised tariff reform III
| 1892. Can the Democratic party, WITH
their allies, the Popuiists, 1901 , the ptople
| with free silver in 1895? The distress
| arising from the mistake Of 1872 Is now
relied upon to further and promote the
| silver scheme of 1896.
'From Purgatory to Hades' is the Dem
| ocratic yuideboard of to-day. 1--WE de-
| mand," so the new Democratic gospel Of to-
day reads, 1.-The free and unlimited coinage
Of both gold and silver at the present. lesa
ratio of 16 to l, without waiting for the
| aid or consent of any other nation. we
demand that the standard silver dollal
shall be a full legal 'ender, equally wit!
gold, for all debts, public or private TIT
second of thes, demands is
Pure Fraud and Deception.
Intended to fool the people and make then
eager for the free coinage OF silver Ihe
standard silver dollar is to-day, and ever
since 1878 has been full legal tender IL
any amount for all debts, public and PR