The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1899-12-23

to fll her war chests, and the gold of
the United States is promptly drawn
out and flies across the ocean in every
vessel.
But, Mr.. Chairman, the gentleman
from Indiana (Mr. 0verstree,) has said
that there are no balances to be paid
when the republican party is in power.
He has said that we export gold only
when We pay trade balances abroad,
but that the trade is always In our favor
when the republican party is "a power.
| hold here the review OF the foreign ,
commerce Of the United States, as
published by the bureauof statistics,
and | notice that from 1866 to 1876,
every year a republican year, there
was but n year in all that time when
the balance Of trade was IN our favor.
wish to call the genileman's atten-
ton also to the figures on the question
as to whether gold is only exported to
pay balances Of trade. find that In
1876 the balance Of trade was more
than $40, 900, 900 in our favor, and we
exported s2s, 1000 900 Of gold. find
10 1884 the balance Of trade was s72-
100000 In our favor. and We exported
sls,O0O,oo in gold. In 1886 the
balance Of trade was s4i, 0O0, 900 IN
our favor, and we exported s22, 000,-
aaa-is s~aSE- saasru---.s@-g~~A
republican year, the balance Of trade
was sSS, 900 900 in our favor, and we
exported $4,000 Of gold.
Mr.. Overstreet. win the gentleman
state the importation Of gold for those
yearsP
Mr.. Cowherd. | am stating the ex-
cess OF expectation over importation.
Laughter and applause on the,demo-
cratic side. Let me say that IN 1896. a
democratic year, and I offer this 10
show that the questions OF importation
/ and expectation Of gold, as well ss the
balance Of trade, are not affected by a
question Of democratic or republican
Office holding.
In 1896 the balance Of trade wal
slo2, 900 900 in our favor, and the
e excess Of expectation over importation
: OF gold was s7s,0O0,0 900. SO | say
that II you could make this exchang,
{, tomorrow there would be no securit,
, that IN five years from this date so pei
g cent Of the gold paid out would re
q main within the territorial limits of tn,
United States. But 1t will not be don,
10 that way. Every man knows the wa,
n In which 1t will be done is this ThI
banker wishes to pay a balance IL
London. The merchant wishes to pa,
for a bill Of goods in Germany. Tn
l broker a sell gold to advantage i
st Europe. They CONT to the vaults q
the treasury with Ave, ten or fit
lg million dollars Of g~reenbacks, treasur
notes, or silver certificates, and Ii
e. treasury takes the currency and pay
ed them the gold.
as The currency Is locked up 10 Il
ry public pound, and the gold Is prompt
D. shipped to a foreign country. BY thl
en- means the circulating medium OF II
Of United States Is reduced to the amoul
on OF every dollar so exported and
up exchanged, and this will 90 on yeI
gu after year, just as necessity deman,
or Just as expectation 10 proGtabl
60. until there is locked up 10 the vaults
ng the treasury u large proportion OF VII
we is now the circulating medium Of Il
g. country, and gold, instead Of beir
get out TO take its place among the peopl
nit has been exported to pay foreign det
~, and balances. But gentlemen say tn
ro- II We do not have the gold we will ha
Of instead Of It = national banking Gu
rsncy.
OF | submit 10 you, gentlemen, th
10 there 10 no security that you will ha
yer q national.bank currency under I
Fry provisions Of this bill. Nor is the
0te any Justification for this great Cover
for ment Of the United States saying to t
Ibe people that It will surrender to any pI
1nt ticular person or any combination
ity individuals or corporations the a
DO and greatest power Of a governme
MD and Its most important f~unction-tI
Of issuing and the coming Of none
me Applause on the Democratic side.
The Dangerous as II would be to sure
no der this great power to the banks, th
ith creating a money trust In addition
or, those now preyIug upon the peopl
and more powerful than oil combine
&c, yet even this would be less hurtful th
the contraction your bill makes DO
SEES possible and probable. For how und
res 1t a we DO assured that even bal