Iron County register., 1897-10-14
REPusLlcAN cHANTicLEgRs.
Trying to Drown Ouk sonc NotorA
TNw,m Esm


Trying to Drown Out s0Eac NotorA-
Ous Facts
( Once more the administration papers
are growing Justify about the state o1
the treasury. They began to have this
kind of hurrahs about the time their
miraculous tariff bill passed the house
and we may look for fresh attack al
least once month.
When they go into one of these fits
they begin by telling what terrible
time the last administration had with
the gold reserve. It was continually
worrying. they say, and having the ut
most difficulty in keeping the coin stock
up to the mark. The president and sec.
retary of the treasury were at their
wits end" They resorted to every
expedient" for the purpose of getting
and keeping gold, and to little purpose,
But now behold! LESS than seven
months after the Inauguration of Nc
Kinley exactly the reverse is true and
Secretary Gage is obliged almost daily
10 refuse offers of gold. The treasury
has more gold than it knows what to do
with ard instead of paying freight has
issued hints to assistant treasurers all
over the country to discourage gold
payments as far as possible. 1t is more
than likely that the treasury viii soon
be actually on a gold basis and forced
to pay out the yellow boys for ex-
penses."
How distressing that would bel And
how sad to think that all this embar-
rassment and danger is due to the un-
speakable wisdom and transcendent
genius of republican administration
Why, then, do the roosters exult
Why can they not restrain their exuber-
ance in face of this impending calamity
long enough to explain some things?
Down to the time of the passage of the
Dingley bill by the house all the re-
publican sages were declaring with one
voice that there was nothing the mat
ter with the treasury but insufficient
revenue. That was the only reason why
gold ran away, and it would never come
back until more revenue was provided
Now, it is notorious that the shortage
of revenue has been greater than ever
since the passage of the Dingley bill,
yet the sages and their hornblowers are
boastirg that the treasury is getting
more gold than it wants. Wouldn't ii
be well for them to stop growing long
enough to mend their reputation by
showing that the fact does not utterly
demolish their theory?
They persist in ignoring other no.
torious facts and that is why the pub
lie memory should be logged again.
They ignore the fact that the guam
tity of gold in the treasury is small
compared with what it was during
Cleveland's first administration and
down to its close. The total amount OF
gold now in the treasury is $1S4,500,000,
round figures, of which 147.5o0,0 900 be-
longs to the government and $37 900, 900
is held against certificates in the hands
of the public. At the end of Cleve-
lands first term the total gold in the
treasury was $326, 100000, of which
$196, 100000 belonged to the govern
ment, while $13o.2o0.ooo was held
against certificates.
Thus it appears that the government
owned nearly $49, ,000, 900 more gold and
held in its vaults $142 .ooo,0 900 more at
the end of the first Cleveland admin
istration than it does now. And for
a year and half before the close of
Cleveland's term the holdings were
about the same as at the end. Yet NO
body was worrying for fear the govern
ment would ''be forced to pay cut the
yellow boys for expenses" Nor did
anybody borrow trouble because from
20 to 90 per cent. of the cash received
at the New York custom house was
in gold coin and gold certificates.
Nor should the public forget the fact
which republican roosters try to crow
out of mind that it was not until the
beginning of the Harrison administra-
tion that the treasury began to lose
gold and that during that administra-
tion the treasury lost very near $685.
0o0,0 in gold owned
Finally, the public should not permit
the vociferous growing to drive out of
mind the fact that it was during the
Harrison administration that the rev.
enues of the government fell below the
expenditures for the first time in rs
years or that it was during the last year
of the republican Mckinley tariff that
the revenues fell over $72, ,000, 900 short
of the expenditures-by far the great
est deficit in time of peace in the his
tory of the country. It now remains
for the republicans to beat their own
record of unparalleled badness before
they get through with their thauma-
turgical Dingley law. They have made
a most promising beginning for that
achievement of prodigality.- Chicago
Chronicle.