The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-16
A sPELLBINDING RECORD.
The Financial Trfumphs of the Me-
kfnIey Administration.

Under the caption, "a Spellbinding Rec
ord" the Washington Post, which is an
independent paper with Democratic ten
denotes. presents the financial triumphs of
the Mckinley administration In regard to
the Post the words Democratic tendencies
are used advisedly, because the publisher
has been in Congress as a Democratic rep
resentative and the paper often betrays a
longing for the old Democracy. For that
reason the remarkable article given below
may itself to the reader as the
judgment of one not partial to the admin
istration:
LAS a matter of fact, the existing condi-
lions In finance, and industry
furnish the Republican party with all the
material that IL needs or that 1t can cred
itably utilize. Mr.. Mckinley's administra-
ton has, up TO this moment, been attended
by extraordinary and opulent achievement.
The conduct of our financial affairs has
been crowned with a success of which every
substantial citizen is. according to his Wis
ible interest, a beneficiary. We know of
no department of legitimate activity which
has not thriven during the past three years.
Our manufacturing enterprises have ex-
hibited a remarkable growth and a cOrre-
spending prosperity. Agriculture was never
so well established and so bountifully re-
warded. And, what Is more TO the purpose,
this vast wave of profit and encouragement
has covered the entire ~ountry-Nort
South, East and West alike The cotton
planters, from Tennessee to Texas, gaze
upon rich harvests. The cotton mills of
the Carolinas, Georgia and neighboring
States have been converted into gold mines.
The farmers. from Ohio to the Pacific. have
paid off their mortgages, are at last indies
pendent and now see before them an era of
assured prosperity. Labor is everywhere
in demand at excellent wages. Capital finds
remunerative employment on every han
The whole country Is a beehive and honest
effort has it's sure reward
LAS we see the matter, the Republican
orators have no need to go a step beyond
commit an objectionable folly when, in
stead of pointing to the substance, they
content themselves with barking at a fool
ish shadow. Compared with their noisy
and ridiculous vociferation. the smallest
extract from the Treasury Departments
record is an anthem to a rabbits squeak.
Look, for a moment, at that record. Dur
ing Mr.. McKinley's administration we have
passed from the state of a national debtor
TO tina of a creditor nation. Instead of
borrowing from Europe, we lend to Eu-
rope. We have funded a debt of 1886, o00,-
600, bearing 4 and AZ per cent. interest,
into bonds bearing 2 per cent.-a less rate
than was ever before realized by any coun-
try In time of war-and our new bonds now
command a premium of 4 per cent. being
quoted higher in proportion than the Sc
curities of any European government. We
have collected, without friction, without
difficulty. and without the scandal of a
single defalcation. the largest revenue in
our history. During the year ended June
80. 1900. our internal revenue amounted to
$zso,3l3, lOI.o7, and the proceeds or our tarlff
on imports amounted TO SzIl.9ZI. fl432-
making a grand total of 1861, 240, S51.S9. We
have created since March IA, this year, 32S
new national banks. These banks have
been established throughout the country
small banks, with capitals of $4,000 n
S25. WO--distributed among the agricultural
districts. and they give not only facility,
but protection. They are. in fact, the SYM
bols of our tremendous progress and de-
velopment. They tell a tale which, in the
estimation of serious men, accuses and for
ever sflences the silly rigmarole of the
cheap and shallow exhorters from the
stump. From March, 1898, TO March, 1897,
there were l5S national ban failures. From
March. 1897. TO March. 1906, there were thir-
ty-four failures. He who cannot read
Alright the meaning of these facts and fig
ures is beyond the reach OF common sense
and reason.
Here, in a nutshell. is the record of the
Republican administration under Mr.. Nc
kfnley, so far as IL touches the substan-
tial interests of the American people. 1t
is not made up OF conjecture, prejudice,
partisanship or any other manifestation OF
empty tOmfoOlery."