The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1897-01-12

case ln0 amount OF JnC ueHclt
being paid from this surl Plus
and saved to the people In taxes, is
virtually paid to them In the pro-
portion In which they pay taxes;
and, second, to loan it out through
banks or other agencies. We have
now surplus of about $685. 100000
above the reserve. For the fiscal
year ending June 80, 1895, the ex.
penditures exceeded the receipts
nearly $4,000, 900; for the year 1896,
a little more than $25,000,000. If
the Republicans attempt to In
crease the revenue they must ex-
pect either to increase the expend-
itures or the surplus in the Treas
ury. 1 think we are safe in assum
ing that they are hostile to the
greenback, not because IL Is inferi-
or to the bank note, but because
the national banks desire to retire
the greenbacks with bonds and
then draw upon the bonds the in.
forest which the people as whole
now save on tine greenbacks.
"While the Republicans have not
yet had an opportunity to write
their policies upon the statute book,
we have proceeded far enough to
discover that the mere announce.
ment of Republican success does
not restore prosperity. If the ad.
vocates Of free silver had won every
bank or business failure would have
been attributed to their success.
"During the month of November,
1896, eight great national banks
failed, and in the month OF Decem-
ber nine more closed their doors. /
find upon examination OF the sta
tiStics that December witnessed the
closing Of more national banks
than were closed in any other
month since January !, 1893, ex-
cepting the three months Of the
panic Of that year.
zone bank announced as the
cause of its failure inability to
realize upon assets.' This notice
was n confession OF the argument
made during the campaign by 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 value,
hard times must continue. That
this Is not due to local causes Is
evident from the fact that the
same complaint comes from other
nations. The press dispatches state
that the holiday trade in Germany
was disappointment to the mer.
chants.
"The fact that Senator Wolcott,
of Colorado, has been sent abroad
by the President elect as an am
bassador most extraordinary to
bring Europe to bimetallism, is an
evidence that the gold standard il
still c,ncealing Its blessing from
the American people.
"If his errand proves fruitless
one it civilization why should we
risk a return to barbarism bv chas-
ing after International bimetall.
ism? If Senator WolcOtt succeeds
in stirring upa silver agitation in
England he will be accused Of dis
turbing business and destroying
confidence in that great center Of
financial confidence, London.
If the errand proves a fruitless
one 1t will only give additional
evidence that the United States
must act alone. II, in other words,
our opponents succeed in bringing
bimctallism they will relieve us OF
n great deal of labor and enable US
to turn our attention to other re-
forms. II, on the other hand, they
fail In their effort to restore bimet-
allism, after confessing that bimet-
allism is desirable, we may expect
the American people to join with
US In the opening Of our mints to
free and unlimited coinage at 1G to
|, without waiting for the aid or
consent Of any other nation.
at will be the duty OF the Jack
Son Club to point out from time to
time the effect OF Republican poll
tics so that the work OF education
will extend over four years, in
stead of being crowded into II few
campaign months, The members
Df this club shoul'l not he deferred
by the charge that they are agit,
tors. The Democrats were never [
afraid 10 agitate against the Nc
Kinley bill; the Republicans were
never afraid TO agitate against the
Wilson bill; ihe bankers are now
,gitating, through their confer
ences and conventions and through (
he DresS apninst Our nresanf cur-