Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1900-11-05
MONDAY EVENING NOV. 8. 1900.

SOMETIME ago it was announced oy
the administration papers as matter
for congra.nlstion that there we're four
hundred and fifty millions of gold in
the Treasury Department. 10 what
mode this locking up gold and taking it
ont of the channels of circulation and
industry can benefit the public. is very
hard to discover. Is gold coin such a
curse to mankind that it Is desirable to
lock 1t up in this way? On the con-
trary, 1t has been urged of late by re-
publicaus that the currency OF the peo'
pie ought to be gold, and that silver coln
is alike dangerous and inconvenien''
Do the republicans propose TO oaniSn
from circulation and use in the affairs OF
life both gold and silver? Some phlio-
sophers i is known propose to suosti-
tute bank paper, even if it be founded
on wind. or what they call assets; but
this class are more than suspected OF
cherishing a purpose to profit at the ex'
pense of the community. When the
Emperor Of Russia stores up four num-
dred or FIVE hundred millions OF golo
10 the Imperial Treasury we can guess
why he does it. Perhaps il may De
that in view of possible international
complications or war, he wants to have
a big war chest. War in Europe, IKE
our Philippine affair, means first money,
next more money, and finally a great
deal more money. OF course we kno"
the imperial tendencies OF the adminis'
tration, and this possession OF four hum
drei aud fifty millions of gold in the
Treasury vaults may be hailed as a
great step 10 its grand scheme.
But it is recognized principle
of finance and business among
all save the cnsrltsns and swindlers
who shape republican policies that the
free circulation of wooy 10 buiness pro-
notes trade and industry, and that il
mony be locked up either by govern
ment policy or by panic, it is great
calamity. Now. this large sum either
belongs to the government or to private
Individuals. Ifit belongs to the latter
class it is misfortune that it is not in
circulation. II it were, 1t would stimu-
late many industries now idle or i'm
perfectly developed. If, however, 1t
belongs to the government, how much
wiser it would be to pay off portion
OF the public debt and thus stop the TO-
terest charges. Perhaps it may be said
that none of the public debts can be
paid off legally, though the money to
do so is abundant. If this be so, it is q
severe reflection on the republican
party who have managed our finances
end provided for an Issue oil long bonds
which cannot be paid of. II this large
surplus or deposit exists, 1t also demon
strates the crime OF maintaining the
present burdensome war taxes. Why
we're they not reduced at the last session
OF Congress? Are other wars in con.
templatIon2 1t may be said that good
treasury balance is necessary to prop up
the public credit. The answer TO this, is
that the wisest heads of the Treasury
Department in the past have not COL
sidered that it was necessary to have
over thirty or forty millions surplus for
thai purpose, and in Great Britain o
much snsller SUN has been held to be-
necessary. A 6naDcier who woul en-
deavor to lock up four or FIVE hundred
millions OF gold is either a very great
fool or a good deal OF knave.