Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-08-08

During nine of these fifteen years the
trend of the gold movement was in our
favor, and during only two of the remain
ing six years-that is to say, in 1889 and
1S91-was the outward movement large
enough to attract attention. In 1889
there were large importations under the
tariff of 1883 for the purpose of antici-
pating the increased duties of the Nc
kinley bill, and this caused an outward
f1ux of gold in payment. In 1891 the ex-
traordinary outflow arose largely because
of the Barring failure, which caught in
its crash many foreign holders of Ameri-
can securities, who, being pinched for
ready money, had to return some of those
securities to this country fror redemption
These explanations are ample to account
for the exceptional exports which char
acterized two of the years of the Harri-
son administration, when the revenues of
the country were upon n highly protective
basis. Adding imports together and COM
pairing results for the fifteen years in
question we find that the aggregate i'm
ports of gold exceeded the aggregate ex-
| ports to the amount of S101. .56S. 80.
During this period the national debt was
reduced from S2,340, ,567 .23204 in 1870 to
Sl,o63 .612,455.63 in 1892, total reduc-
ton of $7S5 5,954, 776.41.
Now let us turn to the years from 1893
10 1876, when tariff reform" held the
| boards:
| 1S!3. Exports SS7. .5O6. AGA
iSy4. Exports NEUTRALITY-SUSPICIOUS.. 452S,942
iS9S: EEXPorts ExPPot '''''.'.....'.' 30 9S4 4i9
ELEVEN months ended May 81.
| Here we have a total loss of gold dur.
ing the short era of Democratic tariff
reform of S191 ,531 106, or a net loss in
four years of So, 5,962,976 over the net
| gain accumulated during the precetins
hfteen years During these same dsas.
| trous four years of Wilson Gorman far.
iff reform, the national debt has been in.
creased in principal $500, ,454 $50, and in
| interest yet to be paid almost $3.50. 600.
700, or over S500,000,000 in all Had
the voters of the, United States not heed.
ed the false arguments of Democracy in
| 1872 the national debt. instead of beinp
increased in principal and interest oye1
half billion dollars in the intervening
four years, would, at the same rate of
decrease which prevailed from 1879 Ia
lS92 have been lowered to the extent of
~, Dos, 50l .32, and instead of loss of
$197. .531 JOG through gold exports we
should, at the ratio of the preceding fif.
teen Republican years, have had a net
| gam through imports amounting i'm the
four years to $27, ,OS5,012. Recapitulat
ing these losses, and not saying anything
OF the tremendous personal losses inflict
ed by the tariff reform" experiment
upon all classes of American citizens
for these in the aggregate are obviously
lncalculable-we find that the "change OF
1892 from Mckinley protection to vii
son-Gorman free trade has cost the gov.
ernment of the United States directly, in
its finances, not less than S949. ia :.
625.32, "A conclusion reached as follows
Loss of gold through actual
export ...................,S ,Sl97. .531. LOG on
Loss of gold through what
| would have been imported
had the Republican ratio
from 1878 to 1892 obtained
from 1892 to 1896. ...... 27OS5. .O12 on
Loss through increase In ma
tional debt ..... ........... 100000, 900 Ot
Loss through what would
have been the reduction of
| debt had the Republican ra-
| ito of debt reduction which
prevailed from 1879 to 1892
prevailed also from 1902 to
1896 ...................... 224, ,55s, ,507. 81
Total loss. s.................$ .$049, ia 1925. g
This loss has nothing to do with thu
question whether gold or silve
standard is the better. 1t is direc
fruit of the Democracy's unwise agita