The Republican journal. [volume] (Belfast, Me.) 1829-current, 1897-12-30

type?
And it will be happy year TO r Uncle
Dingley law is to produce surplus in De-
cember are realized,
Mr.. Bryan has not yet reported from
Mexico how it is that labor under free
coinage gets only one half the rate of
wages paid under the gold standard in the
United States, and that the articles which
it buys with those wages cost twice as
much as in this country.
President McKinley's selection of ex-
Attorney General Mckenna for the Sup
RENE Court vacancy is being warmly COM
mended. The few people who have found
fault with the nomination merely for the
sake of finding fault are not likely to cut
much figure in their attacks upon him.
The talk of cheap money only catches
the men who do not understand it's real
meaning. When it is brought among
business men it finds no supporters. The
free coinage of silver proposition was
kicked and cuffed in the most distressing
way by the members of the National Board
of Trade in Washington last week, despite
the fact that all the old parties were repre-
sented in the Board.
President Mckinley ringing expression
of 1896 that ''every dollar of our currency
must be kept as good as every other dol
lar was reiterated by Secretary Gage in
his remarks before the house committee
when his currency bill was under consid-
GRAFTON. The free coinagists made him
the target for a long series of questions on
the currency, but their efforts to shake
the foundations of his financial faith were
unsuccessful.
President Mckinley's plan for retention
of the United States notes in the treasury
after they are redeemed in gold and for an
increase of the amount of currency that
national banks may issue on their bonds
deposited to secure circulation, seems to
be gaining popularity in Washington and
throughout the country. OF course the
more elaborate propositions are being dis
cussed, but with little prospect of adop-
ton in view of the absence of Republican
majority in the Senate.
An educational test is a prominent fea-
ture of the immigration restriction bill
now pending before the Republican Con-
gress and likely to be made law. The
Republican party has always been the
champion of intelligence and education.
while those opposed to it have welcomed
to their ranks large percentage of the
unsatisfactory element coming from
abroad. 1t will be remembered that the
immigration restriction bill of last Con-
gress was vetoed by a Democratic Presi-
dent.
Congressman Savers of Texas, who sur
prised his Democratic associates by ex-
pressing some vigorous protective senti-
ments in the announcement of his candi-
dacy for the governorship, is being con-
graduated upon his frank recognition of
the new order of things in the South
The rapidity of the growth of the protec-
tive sentiment IN that section is remark
able, and is exemplified in the fact that
there are now more protectionists in Con-
gress from the South than at any time in
the history of our country.
The Republicans in congress and the de-
partments are moving in the direction of
rigid economy in Government expenditures
and the appropriations for the current
fiscal year are likely to be considerably
reduced This fact adds to the proba-
blllty that the Dingley law is going to
prove ample in its revenue-producin
capacity Indeed, the members of the
committees which framed it are mani
nous in their agreement with Treasury
officials that it will meet the requirements
of the Government and that no further
revenue Legislation will be necessary.
With Germany, Russia, Farnce, Japan.
and Great Britain extending their influence
in China, the financial world is liable to
wake up some fine morning to find that
country has adopted the gold standard.
Can this be the secret reason of the sudden
anxiety of Senator Teller on this subject?
He knows that the rejection of the silver
standard by China would be an immense
loss to his constituents, the silver mine
owners of the West, from whom China has
been heavy purchaser, and if reports are
true, Mr.. Teller is himself somewhat in
terested in silver mines.
"Bimetallism must mean one of two
things Either it is two kinds Of money
Of unequal value circulating side by side
by reason of the exchange of the less
valuable for that of greater value, or else
two kinds OF money of such intrinsic
equality of value that they will circulate
naturally side by side. We have bime-
tallic currency in the United States now.