The climax. [volume] (Richmond, Madison County, Ky.) 1887-1897, 1896-02-26
Republican Lies Refuted by Fscts
and Figures.
The Harrison and Cleveland Administra-
tiOns Csmpared-Interesting Read
ing for Thoughtful Men
of Both Parties.


1t seems to be difficult for many re-
publican writers either to understand
the condition of our national finaIces,
or tell the truth about them. 1t has
been recently stated that at the begin
ming of Cleveland's second term the
treasury contained SPA 100000 of gold
reserve. There is absolutely no founda-
ton for that statement. The exact
treasury condition during the past
three administrations can be briefly
told.
When Cleveland retired from the
presidency in March, 1889, there was
S197,OOO,OOO in gold in the treasury.
There was also on hand a balance of
gold, subsidiary coin and other finan-
cial assets amounting to S33O,30C 900.
Thus il will be seen that the trea Sury
was in healthy condition, and, during
that Cleveland administration S341,-
100000 OF the public debt had been
paid. 1t was certainly a prosperous
administration, creditable alike &c the
democratic party, to President Cleve-
land and to the entire country.
When President Harrison came into
power there were S197, 900, 900 of gold
and 1890, 100000 of surplus. At the
conclusion of his administration the
cash balance in the treasury, including
the gold reserve, amounted to only
$162, 100000. During the Harrison adj
ministration there was paid S105 000,-
600 less on the national debt than was
paid during the first Cleveland admin
istration. When the second Cleveland
administration began, although there
was nominally in the treasury S62 AGO.
600 available for the payment of claims
against the government, the treas
ury was practically bankrupt. AS a
matter of fact when Secretary Foster
left the treasury department, and Sec
rotary Carlisle succeeded him, there
was no available money in the treas
ury. and the retiring republican secre-
tary bad been obliged to delay the
signing Of draft for s., 00O, 900 in pay
ment of an Indian appropriation, be-
cause there was no money in the treas
ury to meet the draft if it had been
drawn.
At the beginning of the second term
of Grover Cleveland he found the Coun-
try on the eve of financial revolu ton.
This was not entirely chargeable to
the republican party, but arose in great
part from the fact that our credit had
been injured abroad on account of the
constant agitations in both houses of
congress concerning our financial pol
icy; that is, as to the instability of our
financial institutions, because o., the
advocacy of recommendation anil BIZ
metallism. The financiers of the world
were unable to ascertain upon what
basis the credit of this country was
likely to be finally established; and
hence they were unable to make def
mite arrangements for international
and individual exchanges.
It was also unfortunate for the ,,oun-
try that. in addition to the expenditure
of the large balance which had beea left
in the treasury by President Cleveland
at the close of his first administration:
the Harrison administration had also
urged upon congress the creation of
trust fund of S54.o00,oo0 for the ordi-
nary expenses of the government. This
fund was forced loan by the govern
ment, in entire violation of the sane
tity of the trust by which it wa.i ere
ated, and the fund was held by the gov
ernnient for the redemption of national
bank notes.
Dissertations concerning financial az
fairs are not usually interesting. but
the reading public of the present gem,
Grafton is composed mainly of mel who
think as deeply concerning national af-
fairs as though they were PERSONALLY
engaged in political manipula ions.
The present generation is better in
formed concerning affairs in the na-
tionnI capitol than our piedecs ssors
nave been Therefore it Is iIapor-
tant that we should have all the facts
and figures before us when we Under
take to discuss the relative merits OF
the great political parties OF the great
quadrennial presidential coEsest
which is pow about 10 BEGIN.