The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-01-08

also belong to the majority
There should be no difficulty in under
standing the relations which should exist
between the democrats who remained in
the party and those persons who went out
of the party. y party is defined as an as
ISOLATION Of persons who agree upon an
important question or questions and VINO
unite TO give effect to their ideas. The
money question became the paramount is
sue of the day; the democrats in conven-
ton took a position upon the question and
made gallant fight in defense of the
platform adopted. If the money question
was now considered settled another issue
could be taken up and a new alignment
made, but the money question is not set
tied. The contest for the restoration of
the money of the constitution will go on
with renewed vigor. The people who adj
Vocated free silver before the election ad-
vocate it now The election has decided
the presidency for four years and it has
determined the complexion of congress
for two years. but it has not overthrown
the convictions of those who believe that
the gold standard is a conspiracy against
the welfare of the producing masses nor
mas it changed the convictions of those
who believe that trusts must be abolished
and corporations made to obey the law.
This campaign has shown the impossi-
bility of keeping bimetallism and gold
standard advocates in the same politica
organization, and it will be a more diff
cult task in the future than it has been
this year. To use a common illustration
hen is always disturbed if she has in
her brood a few ducks which insists upon
pudding in the water while the chickens
are content to scratch upon the land. The
democratic party will in like manner be
i'll al ease if 1t has few web-footed mem.
bers who insist upon crossing the ocean
for their ideas while the great majority
nf he rtNy will inu IN nd he
zeal food upon an American soil Not only
is this separation between the gold stand
ard democrats and free silver democrats
a necessity, but it ought to be desirable to
both SIDES If the gold standard demo
Gratis are as bad, politically, as we think
they are, we ought not to care to Affiliate
with them, and If those who supported
the Chicago platform are half as bad as
the goldbugs say they are, they are APT
to contaminate all who associate with
them. In my opinion there should be nc
compromise of the issues involved in the
late campaign, and no terms short of alb
solute surrender offered those who haVt
deserted us. If any democrat becomes
convinced that the gold standard is neces-
sary, or becomes a defender of trusts, he
can leave the party and join the boiling
democrats or the republicans. If any bolt
ing democrat sees the error of his way
and is willing to endorse the Chicago plat
form and labor with those who seek to
carry it into effect, we will wecome such
a democrat back into the fold.
1--WE are now engaged now in just such
contest as that through which Andrew
JACKSON passed, ana we do we'll on TINS
occasion to take encouragement from has
devotion to the cause of the people. He
gained his greatest silver victory in MS
light against the national bank. We have
the same fight on hand to-day. The ma
tional bank is seeking to force a retire
ment of the greenback, and then monopo-
.ize the issue of paper money. The repub-
licans, during the campaign just closed,
avoided this subject and refused to de-
clare themselves either for or against the
retirement of the greenbacks. But when
they come to apply their ideas to legisla-
ton they must disclose their views.
statement issued by the treasury de-
partmenJ near the close of December
showed an aavailable cash balance, in
Guiding gold reserve" of more than $685.
900, COO OF this sum about 900 was
in greenbacks and about $S6,OOO,O00 in
treasury notes. This money is either good
or bad. If it is good it ought to be in cir
culation among the people instead of lock-
ed up in the vaults at Washington. To
keep balance of $225, 100000 in the treas
ury when the money is needed
among the people is ineXcusable.
The only ways to get this money
out among the people are, first, to have
the government receipts less than the ex-
penditures, in which case the amount of
the deficit being paid from this surplus
and saved to the people in taxes, is vir-
tually paid to them in the proportion in
which they pay taxes; and, second, to
loan it out through banks or other agen-
cies. We have now surplus of about
$125, 100000 above the reserve. For the
fiscal year ending June 30, 1895, the eXpen-
ditures exceeded the receipts nearly 3d.
600, 900; for the years 1896 little more than
$25, 100000. If the republicans attempt to
increase the revenue they must expect
either to increase the. expenditures or the
surplus in the treasury. l think we are
safe in assuming that 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 people as whole now
save on the 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 an
nouncement of republican success does not
Pestre prosperity. If the advocates of free
silver had won, every bank and business
failure would have been attributed to their
success.
During the month of November, 1896,
seven national banks failed, and in the
month of December nine more c.osed their
doors. l find upon examination of the
statistics that December witnessed the
closing of more national banks than were
closed in any other month since Jan. l,
1898, excepting the three months of the
panic of that year
zone bank announced as the cause of
it's failure Inability to realize upon
assets This notice was a confession
of the argument made during the cam
paign 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 a dis
appointment to the merchants.
1T will be the duty of the Jackson
Club to point out from time TO time the
effect of republican politics so that the
work of education will extend over four
years, instead of being crowded into
few campaign months. The members of
this club should not be deferred by the
l oLo rga that tbav a agftafoTg The