The herald., 1896-08-22
FALSE PROPHETS

One of the favorite straw men of the
Mckinley press is the alleged appeal
by the Democratic party to anti-British
prejudices-the Anglophobia which
from time to time manifests its existence
in the minds of too many Americans
Because the Democratic platform patri-
otically asserts the ability of this coun-
try to determine its own financial policy
we are accused of twisting the tail of the
British lion, and it is gravely asserted
that free coinage will cause British
holders of American securities to
dump" them upon the market, thereby
eXhausting our supply of gold and bring
ing on financial crisis. All of these
frightful calamities are pictured as be-
ing among the consequences of a DEM
ocratic attempt to revive the fast dying
antipathy to our British cousins To
show the absurdity of such proposition
il is only necessary to allow its pro-
ponents TO talk a little longer. They
fatty contradict themselves as soon as
they commence on the subject of tariffs
Then they charge the Democratic party
with deliberately destroying American
industries for the express purpose OF
handing over the American market to
British manufacturers, thus inconsist-
emily attempting TO catch votes by the
very course which they have attributed
10 the Democratic party.
The fact is that the Democratic posi-
ton is correct, both as to free coinage
and tariff reform, and the strongest
possible proofs are at hand. Notwith-
standing the assured prospect of free
coinage British capital is seeking in
vestment at our very doors. The Chino
ranch deal has been the subject of fire.
quent comment for months past: its pro-
gress has not been Interrupted by tha
free coinage agitation. and it is now q
the very point of consummation.. \ few
days since the Herald gave to its read
ers the particulars of the purchase Of
the street railways of Los Angeles city
by English capitalists for 81 600, 600 Does
this look like withdrawal of English
capital from America? Such evidences
as those cited are sufficient dis
proof of the dire prophecies Of
those who evince such sudden
and tender solicitude for the well
fare of British investors in American
securities Capital may be timid, but
English capitalists are not fools.
Now. let us turn for moment to the
of the country under Dem
ocratc tariff:
We are continually hearing the most
dolorous accounts OF the depressed con-
d:tion of American trade. all attrbuta-
bic of course to the Democratic admin
istration. The facts flatly contradict
the calamity shriekers, The Bankers
Magazine is the foremost publication OF
its class in the United States. and ar
dent in its advocacy of Mckinley. Inftz
August issue appear its annual tables
of current statistics, including a state
ment of imports and exports This shows
that for the month of June our exports
exceeded our imports by s10459 IL, and
that the exports for the year ending June
80, 1896, exceeded the imports for the
same period by s102, sol 923.
a still more encouraging fact in re-
gard to trade conditions is given by
The Economist of Chicago. another
Sound money" paper. We quote from
llS ISSUE VI AUG uSl ISL ne std t4St4Ga
show an increase in the exports Of man
ufacturers from s1s5, 595,743 for the year
ending June 30. 1895, to sos, iS9 S93. Here
is gain of S45 900, coo in a single year
and a total far exceeding our foreign
sales of manufactured goods in any
preceding year"
Such figures speak for themselves
and show how little attention should be
paid TO the evil prognostications of the
advocates of the gold standard and high
tariff