Alma record. (Alma, Mich.) 1878-1928, 1896-01-17
POINTER FOR JOHN G..
MEXICAN EDITOR RIDICULES
OUR SECRETARY.
A Schoolboy Can See that silver Money
OF Redemption Would settle the Re
serve Dinicuity - In This Land of
iienty.

The people of the United States are
OH gold basis in other words they are
holding up something like 81 ,0O0, 000,-
600 Of currency on $92 900 900 of Treas
ury gold reserve a magnificent accom-
piis hment which reminds one OF a
Japanese juggler sustaining a series Of
ladders by his teeth while lying fiat on
the ground 1t is magnificent but it is
not finance. Mr.. Carlisle, who knows
so little OF finance as 10 imagine, be-
cause the Treasury issues notes, that it
is in the banking business, is filled with
awe as he cOntemplates the currency
system Of his country. We do not Won
der, for it inspires the same sentiment
in the minds Of ordinary men. And,
beng OIL gold basis, the United States
mus; have a prosperous government?
That does not apparently follow. The
Government, in point OF fact, is in
straits, for the revenue does not keep
pace with the outgo Not since |
January have the Treasury receipos
reached tho average monthly requisite
OF thirty million dollars, the amount
which must come in if all the bills Of
the nation are to be met. In August
the receipts ran up to $29, 2S6, 900, but
the average has been below s27 900 600
for other months. 1t looks like an
other bond issue, and, if that is made,
the Treasury will be easier. A loan is
only palliative, however; what is
needed is permanently to increase the
revenue. The throwing off of the sugar
duties was the beginning of the fool
ishness those duties were not felt by
anyone and they kept the Treasury in
easy circumstances. II is beginning to
be noted by the American people that
their finances are in the control Of
charlatans who know no more of the
fundamental principles of financial ad-
ministration than SO many school boys
Any European finance minister, who
should make such plumbers as have
been committed in Washington. would
be retired to private life for keeps"
Fancy an English Chancellor of the
Exceequer in such mess as is Car
Isle! 4 Commission in Lunacy would
be summoned to sit on his case. And
no European finance minister has such
a rich country Astounding in potential
sources of revenue to operate in An
ordinary financial duffer ought to shine
as finance minister in the great Repub-
lie which is rich beyond compute
The Mexican Herald.
How proud we should be of financial
policy thus subjected to ridicule and
scathing criticism in a country that
the average American is in the habit
of looking upon as only half civilized. I"
When will the people open their eyes
to the fact that there must be some
thing radically wrong in a monetary
system. which makes such criticism
justihable? What are they thinking
about? 1t ought TO be most painfully
apparent to anyone Of ordinary intelli-
gence that under the specious pretense
of UNFOLDING the cause OF honest
money" and sound money" the great
bankers and money lenders are simply
preying upon the Treasury and upon
the people of the United States.
A syndicate of bankers maintains
the gold reserve at 800, 900, 600 for a few
months, at profit of about $4,000, 900.
Gold is again going out and more
bonds is the cry. Retire the green
backs; make money scarcer even than ii
is now. Depress prices still more,
make times still harder and increase
the interest bearing debt. These are
1 l.,
going on, the great bankers are getting
richer and richer. American heiresses
are taking untold millions to Europe to
exchange for impoverished titles. while
millions OF American people clothed in
rags and destitute of the plainest neces-
stiles of life, are looking fearfully for
ward into the long hard winter now
just breaking upon them.
All Of this time we have the greatest
and graIdest country on the surface OF
the globe-one Astounding in everything
necessary for the comfort of mankind.
Not only this, but we have Sound mon
ey," honest money" "one dollar az
good as every other dollar" and have
had for 22 years
And yet the fact remains that while
our people are GTeading the approach
Of winter, and shiyering with fear
every time an ocean liner takes out
million of gold, half civilized CD Next
co, doing business with 80 cent sill
yer dollar" is rejoicing in the era of
unexampled prosperity that has opened
upon her.-National Bimetallist
Loved by Money Lenders.