Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-08-07
tons, wise and prudent statesmanshlp

would nave QDSta1neQ from injecting as
turbng elements into the Industrial situa-
ton. Not SO with the Democratic party.
1t was determined at all hazards to give
the country some taste Of what 1t called
tariff REFORM" and SO In December, 1893,
before the country had fairly convalesced
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 a long TIME on Its pas
sage, and as it left tho house, II was an un
doubted free trade, or revenue tariff meas
ure and met the hearty approval of Cleve-
land. Had It become 4 law In this condi-
ton, 1t would have created a far greater
industrial disturbance and far greater
deficiency Of revenue than 1t mas done with
its senate amendments as 1t finally beca.ne
law without the approval of the pres'-
dent.
From the very first till the present mo.
ment, this law has continued to give us
deficiency of revenue. From August 1894.
till July %, '9G the aggregate of such de-
ficicncy was sol, 731 ,1S9, or a monthly aver
age Of $500, 1873. Add to this the delcien-
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
Cleveland's administration. up to the 25th
day Of July. 1896, will foot up to $751; .557,-
1877 At the very time when the Wilson bill
was put on its final passage, there was n
deficiency Of upwards of $6O,0O0,OO0. And
at that time. In view of the depressing in
dustrial situation, instead Of passing bill
reducing the revenue, n bill should have
been passed providing for 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 iafatuation and
shortsightedness manifested by legislative
body than that manifested by the house of
representatives Of the Fifty-third congress
in passing at that time and under 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 a
chronic state Of bankruptcy. AS 1t is, 1t
has been. as we all know. 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, 1895 and 1896, and to the In
crease Of our Understanding national debt
to the extent of $2G2,,320, G3O. In a weak
and depleted treasury, the financial world
saw the
Spectcr of Silver MOnometn llfxm,
and hence gold was. withdrawn, not only
for the liquidation Of international trade
balances. but also for purposes Ut hoard
securities of frightened foreign investors.
suddenly thrown OH our markets. Had our
treasury been as full and cvertcw!ry from
1893 till the present time lis it was from
tho time Of specie resumption. III 1870, till
1873, there would, in oil probability, rot
have been greater degree OF gold wlth-
drawal since 1892 than there was prior 20
that time. especially as the proportion
of silver tc gold has not been on the In
crease since 1879. when the forced purchase
Of silver was abandoned
From July 1, 1879, till July I, 1892, there
was a surplus revenue amounting Ill me
aggregate to Sl.137, 436.319, Or TN annual
average Of $S1.245,451: and during this re.
Rod the aggregate gold withdrawal
was only $43,31O,SoG. From July ].
1892, TIL July i. 1896, there was
an aggregate deficiency Of S13G,SOo,oo2;
or an annual average Of $34 ,O77 .263; and
during this period the aggregate withdrawal
OF gold from the treasury was S4GO,OOOWo.
Whatever relief could have been expected
from the repeal of the compulsory silver
purchase law was more thu'l neutrallzeu
by undue tariff legislation and couse-
qucnt deficiency of revenue.
In 1892 TIL" Democratic party Appeared
to the American people for their support.
and promised them. If placed In lower.
tariff reform, better times and better ana
mere econon.icli folm Of government. "hc
Republican party warned the people nd
told them, that from Its very texture anu
make IN, the Democratic party was lncom-
petent TO give the people wholesome
and safe administration, that their prom
Used tariff reform was snare ana a de-
lusiDn. ard would le3d to indn5t:'nl disaster
for both capital and labor, and that tlmes'
instead Of becoming better, would DE uch
worse and far more burdensome anu Try.
Ing. But the warning was dlsfesaraeu, unG
the appeal of the Democracy was Eeehcd
and found favor. The people took me party
at its word. and Cleveland was tlr. TED
president with house of representatives
In full harmony with his views:
How have the promises OF the Demo
cratic party been kept? They nave gwen
us far. very far, from a better or more
economic administration. They have given
US their tariff reform. with II Dig treasury
deficiency. They have given us Il eur
rency famine, and larg" increase or 1le
public debt. And they have brought us
such in industrial disturbance ana stagna'
ton rs was never known under Republi-
can rule nor since the earlier days OF the
republic Capital has been paralyzed or
driven into hiding, and labor has STOOD
waiting by the wayside or been on the
tramp. The Democratic i.lusians, Mt least
of the past, are now dlspelled. we can now
all see, and many of us feel the Dluhoer
were fooled with promised tariff reform IN
1892. Can the Democratic party. with
their allies, the Populists, fool the people
with free silver in 1895? The distress
arising from the mistake Of 1892 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-
mnnd," 80 the new Democratic gospel Of to-
day reads, 1.-The free and unlimited coinage
Of both gold and silver ut the present legal
ratio Of 16 to I. without waiting Tor the
mid or consent Of any other nation. We
demand that the standard silver dollar
shall be a full legal 'ender. equally with
gold, for oil debts. public or private Ihe
second of these demands Is -:~-.-4zl
pure Frnud and Deception,
intended to fool the people and make them
eager for the free coinage OF silver. The
standard silver dollar is to-day, and ever
since 1878 has been a full legal tender In
any amount for all debts, public and pri-
vate. 1t Is not only legal tender. but
the great aim Of the Republican party Is
and has been to make it as good and rs
valuable tender to all intcnts and pur-