The Valentine Democrat. [volume] (Valentine, Cherry Co., Neb.) 1896-1898, 1897-01-14

| and about S36,000.000 In Treasury notes.
Ihis money Is either good or bad. If 1t Is
| good, 1t ought to be in circulation among
| the people instead of locked up in the
| of S225, 100000 In the Treasury when the
money Is needed among the people is In
! excusable. The only way to get this mon
| ey out among the people Is, first to have
| the taxes less than the expenditures. In
| which case the amount of the deficit is be-
| ing saved to the people in taxes; and sec
| ond, to loan it through banks or other
| agencies. We have got a surplus of about
| S125, 100000 above the reserve. For the fis-
| cal year ending June 80, 1895, the expendi-
! lures exceeded the receipts nearly S43,00O,-
| COO; for the year 1896, little more than
SO, ,0O0, 600.
If the Republicans attempt to increase the
revenue they must expect either to in
crease the expenditures or the surplus in
the Treasury. l think we are safe in assum-
ing they are hostile to the greenback, not
because it is inferior to the bank note, but
because the national banks desire to retire
the greenbacks with bonds and then draw
upon the bonds the interest which the peo-
pie as a whole now save on the greenbacks.
While the Republicans have not yet had
an opportunity to write their policies upon
the statute books, we have proceeded far
enough to discover that the mere announce
ment Of Republican success does not restore
prosperity If the advocates of free silver
had won every bank and business failure
would have been attributed to their success,
and the gold standard papers would have
been loud in their wailng. But the Repub-
l1can organs, although compelled to chroni-
Gle an increasing number of business fail
ures over the corresponding period of last
year, never connect these failures with Re-
publican success.
During the month Of November, 1896,
seven national banks failed. and in the
month of December eight more closed their
doors. find upon examination of statistics
that December witnessed the closing OF
M nntf hny, nlng in
any other month since Jan. 1. 1893, except
Ing the three months of the panic Of that
year.
One bank announced as the cause Of its
1allure, Inability to realize 612 per cent.
upon assets" This notice was q confession
OF the argument made during the campaign
Dy the advocates of free coinage. We have
all along insisted that the gold standard
was destroying the value Of assets. With
: money rising in value and property falling
IN Vaiue, hard times must continue. That
this IS not due to local causes Is evident
from the fact that the same complaint
patches state that the holiday trade in Ger
many was disappointment. to the mer-
chants.
The fact that Senator Wolcott has been
sent abroad by the President-elect as an
ambassador most extraordinary to bring
europe to bimetalliSm Is an evidence that
the gold standard Is still concealing its
blessing from the American people. If the
SCiu Stauudru is Ine standard OF clVlllZaIlOn
why should we risk a return to barbarism
Dy CHASING after international bimetallism?
IL Senator WOlcott succeeds in stirring up
silver agitation in England he will be ac-
cused OF disturbing business and destroying
confidence III that great center of financial
commence, London. If his errand proves q
fruitless one it will only give additional
evidence that the United States must act
alone.
IT. IN other words. our opponents succeed
in bringing bimetallism they will relieve
us OF great deal of labor and enable us
to turn our attention to ether reforms. If,
on the other hand, they fail in their effort
to restore bimetallism after confessing that
bInetallism is desirable, we may expect the
American people to join with us in the
opening Of our mints to free and unlimited
coinage at 16 to l without waiting for the
aid or consent of any other nation.