The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-08-20
GOLD. NOT TARIFF THE CAUSE.


The tenacity with which men will cling
TO preconceived opinions, even after their
conclusions have been proven to rest on
false assumptions, Is amazing At this
time the Republican, politicians seem TO
be given up to sttriputing all our Ills and
the financial tribulations Of our govern
ment to an evil that does not exist.
They seem to have brought themselves to
believe that the demand for gold for OK
port, the constant drain on our gold re-
serve, the depletion Of that reserve, and
the necessity Of borrowing gold to replen-
ish it in order to provide for the redemp-
tion Of treasury notes and greenbscks IN
gold, is solely the result Of the repeal Of
the Mckinley tariff Jaw, which repeal
they assume to have been followed by a
falling off In exports. enlarged imports,
and consequent adverse trade balances,
necessitating the export Of gold In settle
ment
The responsibility for our Industrial
ills, for the distress and suffering Of our
producing classes, lies with those who are
responsible for the enhanced value Of gold
as compared to silver. This enhancement
has been especially rapid during the past
FIVE years, and consequently the suffering
9 ntailed upon our farmers. the ruin and
losses OF our manufacturers, and the
distress Of our ge-earning classes, have
been especially ACUTE And the RESPONSE
bility for this enhancement, the conse-
quent fall In prices and the drain on our
gold reserve cannot be laid solely at the
door of Mr.. Cleveland. He must share
the responsibility; but he is no more to
blame for the unsatisfactory condition OF
our finances, or for the paralysis of indus
try than is Mr.. Harrison. Mr.. Cleveland
but followed In the footsteps of Mr.. Har
rison in discarding silver as q money
metal available for redemption purposes
and in undertaking to redeem the treas
ury notes In gold at the demand of tht
noteholder, and 1t is the pursuit OF thii
policy that has led to that increased de
lnand for gold, fall in prices and drain OF
our gold for export that has resulted II
| Mr.. Cleveland's borrowings.
The drain on our gold reserve that ha
since become so monotonous, set in II
1S9l-not as the result OF change or ever
. talk of tariff ohange-but through tn
arbitrary action of Mr.. Foster, then Nj
Hsrrisons' secretary Of the treasury, IL
[ surrendering the discretion given him b.
r act of congress to redeem treasury note
y In either gold or silver, and giving to tn
. noteholder the right to choose the deares
, m etel, gold, in payment. Thus the de
, mand for gold was increased, and as tn
demand increased gold appreciated an
prices fell. Aud to this fall In prices
which has so greatly diminished the debt
3 paying power Of our exports, is directl
: due the drain on our gold for export
q Unable at the low price to export suff
4 cient produce in excess Of imports to NEE
our interest charges on our foreign indebt
edness, the expenses of Americans abroa
and freights due to foreign shippers, an
our foreign crediotrs, because of our In
poverishment and apparent inability {
earn interest-charges, being unwilling
K make us further loans by purchasing on
J, securities, the export Of gold became uI
I. svoidable. And until we get better price
a for our exports, which will bring prosperit
to our producers, gold must continue
go. Paying our debts in the "best
money--that is, In the dearest none
that our creditors can devise. paying OF
q creditors in dollars that call for double I'll
quantity Of produce to which they are ell
k titled-has continued too long. Persis
q enoe in this policy will lead to nation'
r as we'll as universal private and corporal
bankruptcy.