The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-19


The greenbacks are the real cause OF
our financial troubles. They are the OBJ
stacle IN the way Of safe and sound
currency. They are the root of the evil
with which the treasury has been con-
/ tending for many months The republi-
can politicians may continue to assert that
the cause OF the trouble is a lack OF reve-
nue. hut they cannot get the republican
+. bankers and fnanciers to agree with them.
Nor can they show that their view of the
! cause of the financial trouble is the cor
rect one.
! II is a well known fact-a fact to which
! they do not refer for obvious reasons
/ that gold began to be taken out OF the
/ treasury in large quantities long before
/ the end Of the Harrison administration.
/ Notwithstanding the fact that the McKin-
/ ley tariff was in operation. Yet the repub-
/ licans contend that if that tariff was re-
stored there would at once be an end OF
/ the troasury's difficulties. DO they not
remember-they must remember-that
/ Mr.. Harrison's Secretary Of the Treasury
was preparing for bond issue when the
/ Harrison administration ended2 If Mr..
Harrison had been reelected. and the Nc
I Kinley tariff had remained in force. il
/ would have been necessary to issue bonds
to save the gold reserve. No fair-minded
/ republican VIII deny this. And yet the
republican majority in congress proposes
/ to raise the tariff as a means Of relieving
the treasury. They ignore the teachings
of experience rather than admit that their
theories are wrong and their practices
bad
The republican party is responsible for
the financial evils from which the coun,
try is now suffering. They were in power
when the greenback and the demand
treasury notes were authorized and when
the treasury was filled with silver bull
lion and the country plastered with silver
certificates. In an interview in Chicago
last Thursday Mr.. Eckels, the controller
of the currency, pointed out that we have
nine different kinds of currency. all OF
which, except two, are indirectly depend
ent upon the credit of the United States.
The treasury, which is the greatest bank
ing institution in the land. has scarcely
any powers for self preservation and
beneficial action"
About all the financiers of the country
| agree that the wise thing to do. in fact.
the only safe thing, is to pay and cancel
the greenbacks. This Mr.. Cleveland has
said and so has Secretary Carlisle, and
1t is what will have to be done before we
shall be freed from the financial diff
culues which depresses business, holds
prosperity in check and threatens us with
financial disaster.
We might as well look at the situation
as it is and prepare to face it in the ap-
preaching national campaign. The great
question in the campaign Is going to be-
Shall we have free silver coinage, which
means debased currency, or sound
money? Political parties should get ready
for it. There should be no more efforts TO
straddle the money question. We believe
the people are overwhelmingly in favor
of sound money. Let them have a chance
to say they are.
The people want the money question
settled. They know, and the political Jug
glers should know, that we cannot go on
forever as we are going now. We are in
creasing the public debt. and putting
money in the treasury which the treasury
doesn't need to protect the integrity OF
the currency, but how long will the credit
of the government stand this sort of
thing? The people are ready to elect a
President and a congress that would put
the currency upon a sound basis All
they want is the opportunity to do so.
When the issue is squarely made between
honest and dishonest money it will be
found that the people by a vast majority
are on the side of sound money.