The record-union., 1896-08-12

uncertainty. II the silver advocates
win there is no doubt that more gold
will be withdrawn from circulation in a
few weeks than the Mints can replace
by coining silver in many years, so
that at the outset and for long period
thereafter, we will experience a shrink
age in the circulating medium instead
of an extension of ii A cool, well-de-
liberated-upon middle course is always
the safest. The unlimited coinage of
silver promises as great disaster as
would it's withdrawal from circulation.
The financial question is not the only
important issue that voters should con-
sider, and they are making a mistake
by permitting it to overshadow all
others.
TARIFF.
Santa Rosa Democrat: We often see
it asserted by the Mckinley organs
that the present money standard can be
maintained by replenishing our treas
ury with high protective duties on for
eign imports. This claim is ridiculous.
With $75O,0000 900 of currency in certifi-
Gates and notes constantly menacing
the treasury, how could the Govern
ment continue to redeem except by the
issue of bonds in time of peace? The
high protective organs would have the
consumers of the country pay sufficient
funds in the treasury to keep this paper
money and silver at par. Imagine what
a tariff law it would take to do this
FOR NO TARIFF.
Santa Cruz Sentinel: In one of his
speeches in Congress Mr.. Bryan said
that "a tariff of 10 per cent. levied pur-
posely for protection is, as far as the
principle is concerned, just as indefensi-
bic as tariff of a thousand per cent"
Bryan will not deny that he is an abso-
lutte free trader, but he prefers to say
nothing about it in this campaign.
LEGAL TENDER
Santa Ana Blade: The present law
makes silver dollars legal tender for
any amount. 1t will be we'll to bear this
fact in mind in the discussions of the
next three months. 1t will be noted also
that this qualification is by statute SUBJ
ject to modification by any contracts
made by private parties An article in
the Populist platform proposes to take
away this right of private contracts,
which is another illustration of the kin
dergarten system of finance approved
by that convention. During the civil
war and uD to this time private con-
tracts have been made in this State for
payments in gold coin. These contracts
have never been invalidated by any
legal decision, nor is there any prospect
that they ever can be-
A LOW-LEVEL LIBEL.
Placerville Democrat: Bourke Cock
ran the a1Ou11enf To yprponu Dopoocrot
has taken a public and decided position
against what he deems the fallacy Of
free coinage. The Examiner" which
took the other side only when it seemed
to be popular, with it's usual mendacity,
| insinuates that he has sold himself to
Hanna. Because he has received prince
| ~ fees in judicial trials, che would
probably not hesitate to ask Mr. Hanna
for $3.50, 600" While regretting the tenn
porary loss to his party of the match
less 'Tammany orator." no decent op-
ponent will impugn his honor, or ques-
ton the unselfish purpose by which he
is governed. The party of which he
has been the pride and champion should
spurn the low-lived libel of such a po-
| litical Hessian as the Examiner"
FINANCES IN MEXICO.
| Tulare Times: The Bankers Month
ly'' is a magazine for bankers published
at Chicago. In its July issue 1t has the
| following interesting paragraph:
There seems to be remarkable finan-
cial development going on in Mexico.
a number of great foreign banks have
| been looking into that field, and several
of them have arranged for important
branches, the most notable being a
branch of the Deutsche Bank. The
Bank Of London, which is located in the
City of Mexico, is about to increase its
capital from S500O,0OO to $4,000, 600
The particularly noticeable feature OF
this movement is found in the fact that
| the new capital is to be subscribed en-
| tirely by local financial interests. The
large dry goods houses and textile
manufacturers. will be chiefly interested
in the increased capital. "
This is quite an admission from a
magazine which circulateS almost ex-
| clusively among bankers. 1t proves
| that Mexico is not bankrupt, because
the people insist upon running their
own laws to govern their financial af-
fairs Independent of England and the
| Rothschilds. If a small country like
| Mexico can do business on a silver ba-
SIS and flourish, there Is no reason why
the United States could not do the same
/ thing. The leaders In the silver move
| nent contend, and with much force
that If the United States opens It's mints
| to the free coinage of silver that the
price of silver everywhere in the world
will at once go to ST 20 an ounce, which
would make a silver dollar worth as
much in the commercial world as the
gold dollar is now.
STRANGE.
Placerville Nugget: Because Bourkt
Cochran, the brilliant Democratic poll
tician of New York has come out fol-
Mckinley and Hobart, the free silver
Journals assert that he has been hired
by Chairman Hanna, at a consideration
of S25O,O00 for the campaign. 1t is
strange how quickly Democrat be-
comes corrupt according to Democratic
authority as soon as he leaves the ole
party.
A POINTER FOR KERN COUNTY
bakersfield Californian: When Gen
eral Hancock said, While a candidate
for the Presidency, that the tariff was
a local question, a great deal of sport
was made by his opponents over the
declaration, yet in certain sense ht
was correct.
Thus, in Kern County, the most
prominent feature of the tariff is its
bearing on the sheep and wool indus
try. The facts about this industry un-
der protection and under free trade are
not difficult of discernment. They arr
indeed lamentably apparent and arr
evident on every hand. Under pro
lection there was annually sold from
Kern County somewhere between