Arizona republican., 1904-06-02
Gold, Business, Politics.

] Gold is flowing out of the United
 to $46,OO0,O0O in ten months. yet there ! is no anxiety because of this state of affairs. Conditions have so shaped
 themselves that the transfer Of gold
 bars has to be made to settle accounts.
 The payment of forty million dollars
 for the Panama canal has necessitated
 the sending of many millions to Paris.
 But as usual, it is to be expected that
 before long some of the gold bars sent
 to England will be returning here
 again in the original packages, with
 out even having been opened on the
 other side.
 Never before in the history of the
 United States was there so much gold
 in the possession of the government,
 and never before was there such steady increase in the quantity Of new
 gold being brought into use. As 8 democratic exchange remarks, it is
 being demonstrated all the time that
 the people of this country were wise in twice declining to go upon a silver basis. Sure enough, and the outflow of gold during the present fiscal year is in no sense alarming. There is also a steady inflow of gold on the Pacific coast, from Australia, from Alaska and from Japan to pay for war sup plies.
 Yet the same democrats who stood squarely and fairly and honestly for the continuance of the gold standard are willing that this country should change it's tariff system in a way that would make the stream of gold abroad a serious matter They would have the balance of the trade reversed and the foreign workshops stimulated to ] double time at the expense of the home ! shops reduced to half time or no time i There is nothing whatever in existing l business conditions to warrant fear.
 A period Of readJustment was made i necessary as the result of a period Of | speculation and reckless investment. l There was nothing material in the !. way of reduction in demand for l products to bring about a slump. But | when the steel crash came and when ! some of the wild cat and overcapital- | ized concerns were forced to the wall | the speculative and investing commun- | ity became alarmed and the reflex was l felt in the commercial world. Yet . throughout the country good business l conditions prevail, although there has . been some falling off in freight traffic. | That this is natural is admitted, but . when the time comes to handle the . crops there will be enough 10 do. In the meantime it is to be borne in mind 1 that ever since Bryan was first defeat ed the country has been prosperous. It is prosperous yet, as a matter of fact.
 But we cannot expect to be prosper ous if any democratic experiment is to be tried. The voters should remember the blunder they made in 1892 They then set back progress for four years. It matters nothing whatever if there was a tendency to slump before Cleve- land was elected for the second time. If Harrison had been reelected the slump would not have followed. If is elected to succeed him self we may expect the country to brace up again and continue doing fine business. If a democrat is elected president, with the menace of all sorts of tariff tinkering. there would be no expectations Of a revival of business in any direction. A democratic ad- is always viewed with dis trust.