The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-04-03

ports and decreasing exports injure
home industries and create debts that
must be paid by sending gold out of the
country.
Coming more closely to the question
of gold exports, the senator calls at
tention to the fact that prior to 1891
the demand for coin for United States
notes during period of thirteen years.
beginning July I, 1879. was only $4s.-
3l0.S96, while the receipts of gold for
United States notes during the same
! period amounted to l60,0e0,06o. Gold
was deposited and any kind of paper
money was demanded. The withdraw
ais of gold from the treasury from July
l. 1892, to December /. 1895. amounted
| to $500, ,s66,5la Gold in the treasury
steadily and almost continuously in
creased from sli0. 600 on January I,
1879, to $500. 100000 on January /. 1891.
II then decreased to Sl25 1000 900 on July
/, 1894. and. although replenishcd by the
large sale of bonds, was reduced De-
cember 81, 1895. to the sum Of S6i,2Oi,-
65l. During the first term Of MIR. Cieve-
land when he was powerless to affect
our tariff and currency policy (the sem
ate being Republican, the gold in
creased from $alO, ,0Oo. 900 on April L. 1885.
to $500 900. 600 on April l, 1882 The gold
came into the treasury without cost in
exchange for United States notes or
gold certificates. 1t did not begin to
go out In dangerous quantity until the
free trade sacrifice of federal revenues
compelled the utilization Of the gold
reserve il the payment of current eN-
p, aditures, thus weakening public con-
fidence and setting into play the ma
chinery of automatic gold replenish-
ment and withdrawal concerning which
the president so Justify complains.
The senator's conclusion is that the
true line of public policy is to supply
the government with ample means to
meet current expenditures and to pay
each year portion of the public debt.
The gold reserve provided for the re-
demp,ion of United states notes can
then be easily maintained not only with
out cost. except the loss of interest
on the gold III the treasury, but with
a saving of interest OH United States
notes and treasury notes Of five times
the interest lost by the gold held in
the reserve Is this conclusion not
justified by the facts which he pre-
sents?
Minister Phelps has succeeded in
arresting the attention Of the country
by an address on the Monroe Doc
trine," delivered last Monday night be-
fore the Brooklyn Academy OF Arts
and Sciences. In this address he de-
clared his belief that the United States
had no business to NEEDLE with the
Venezuelan boundary dispute; and he
also called the revolution in Cuba a
rebellion of 'pillage, anarchy and MUIR
der" His conclusion was that the
United States ought to do nothing to
offend England or Spain, and especially
ought not to let out to the world that 1t
has such thing as a foreign policy.
Mr.. Phelps belongs to the class OF men
who can see no good in quarreling.
even in quarreling to protect right or
to prevent a wrong. This world Is a
very rough place for men of this stamp.
They ought to have little paradise all
by themselves.
While 1t doubtless is not the business
of the public to say to which organiza-
tion the local branch Of the Salvation
Army shall attach itself, there can be
no doubt that many sympathizers with
the army's aims would sincerely regret
to see the Scranton soldiers take a
stand not in sympathy with American
institutions.
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