The Forrest City times., 1896-10-23

"In the first place. the SEQ. .000. coo of gold which the New York banks have so os- tentatiously taken from Europe will have to come back again. In the next place the treasury may have 10 part with a good many million dollars of its reserve which was found so difficult to replen- ish last spring. With the contraction of imports which has been going on for some time and which seems likely to continue. the customs revenue declines seriously, the public income will fall more and more short of the expenditure, the treasury will no longer be able to hold back legal tender notes as it has tried 10 do lately, and when the notes go out they are sure to be used again for withdrawing gold from the treas ury.
 'The old. vicious circle will be set in mo- ton again. which has so frequently drained the gold reserve down to the verge of na- tional insolvency. The old dilemma will in due time come round once more of pub lie default or the abandonment of the gold dollar. We know what a desperate struggle President Cleveland has had to avoid irnpalement on one or other of these horns, and how little thanks he has got for 1t. Whether his successor be Bryan or Mckinley let us not be too confident that he will emulate either MT. Cleveland's efforts or his sacrifices He may prefer the easier alternative-the surrender of the gold dollar, On that vital point the ca sual circumstance of the gold movement having momentarily turned in favor of New York, has no influence worth speaking of It may be eXhilarating to Wall street and helpful to distressed importers who have bills to draw on London, but beyond that it is a mere passing incident. The original dilemma-default, or abandon the gold dol lars-has still to be solved, and 1t will not
 wait much longer for a final decision"
 The London Spectator in it's issue of September 19, 1896, has the following to say of the situation:
 "rhe true strength of MT Bryan's posi- tion is one the force of which we shall in
 Europe feel more and more. the tendency of improving civilization to increase dis content With education and glimmer of the power to accumulate, the old cheerful resignation disappears and the people be- gin to pine, if artisans, for more security; if agriculturists, for more surplus cash. cash which they can spend after they are
 fed. Care, which in their comparatively savage state they did not feel, descends on them like a cloud. A friend of the writer, great manufacturer, devoted himself many years ago to give his hands dead lift in the scale of civilization. He gave them good houses and good schools, opened a bank, preached thrift and tried in all ways to imbue them with the ideas of the middle class. He succeeded even beyond his expectations, but with this result. among others: That care filled the minds of his people, that thrift grew into pas sion. and that the sum of content in the village was reduced one-half. Precisely the same consequences are following in- creasnG enlightenment in France and Ger many"
 No one realizes this more than Mark Hanna. While other men have been i foolishly attempting to improve the conditions of their workmen-with the inevitable result of making them intel- Hgent and discontented-Mr. Hanna
 has made no such mistake. He has taken pains to see that their "old cheer full resignation" is not disturbed If Mir. Mckinley is by any chance elected 1 Mark Hanna will make it his personal 1 business to see that American work men remain resigned and cheerful or be shot And thrift will not become a i fashion" with them, if Mir. Hanna has his way. There will be more content" and less wages than ever before in the history of the country since the good old slave days.
 In its issue of September 2s the Man. chester Guardian has another article
 which is worthy of attention. It is not forgery, Mir. Heath. It reads as fol- lows:
 With reference to Prince Pismarck's letter on the American monetary contest an opinion expressed by M. Henri Cernuscht at Mentone in April last-shortly tefore his death-to NJ Edmond Thery, is of interest We quote from pamphlet entitled Ger 1 nuschfs Last Words on the Silver Ques- tion in the United States by Edmond Thery CParis: Economiste Europeen): Inasmuch as Englands attitude prevents the realization of international bimetaI- lism, and condemns one half the world to gold monometallsm and the other half 10 silver moaometallism, l would not hesitate. were l a citizen of the United States. to becOme-I, Cernuschi, the father of in- ternational bimetallism, as l am ,yery- where called-a silver monometallist ! Under the regime of the new standard the productive power of the United States would receive so enormous an impulse, and this development would have such a disastrous effect upon the economic and
 financial interests of England and the other European nations now governed by Il e gold standard, that it may be confidently predicted in advance that the course of events would force the adoption of inter- national bimetallism the only true solu- tion. even upon those who to-day deny the possibility and efficacy of it.
 MpKinIey,s ecard