Show CAUSE OF THE disturbance the republican club of now york an influential political organization has been studying the eliat is splitting our country from center to circumference cum ference through a committee appointed for that purpose and tins in part is what they find notwithstanding silver purchase legislation had acen in force about fifteen years abero was no indication of business disturbance until the people became satisfied that congress was democratic in both branches business and industrial confidence which marked the full term ol 01 president II arrison continued until it waa definitely known that democracy biad captured the senate of the united stales which made the chicago platform a national probability soon thereafter unmistakable signs of business trouble appeared and then began the tremendous efforts which have been made by mr cleveland to divert attention from the principal cause and to center it upon the so called aberman act of first came the alleged can vasa of democratic congressmen which was conveniently made public and then came the clamor over alleged excessive loss of gold which was charged to silver and assigned aa the cause of business embarrass mente ordinarily an equal gold loss would have attracted but passing notice during the first six months of the current year our net loss in gold was about but during five months of 1891 according to secretary our net losa foster we lost for the fiscal year 01 was and yet the balance of trade was in our favor to the extent of during the fiscal year of 1802 we were creditors on foreign trade balance ex and yet upon international ter settlement of account wo suffered a net loss of about half million in sold and nearly thirteen millions in silver ddn biow of our contribution to foreign flaga as ocean freightage the profit and interest on foreign investments in america ago disbursements of our citizens residing or traveling abroad the largo amount of wages earned hero and sent to europe the logic of the statistics of 1892 is that to avoid excessive bullion loss export trade must largely exceed import trade to maintain commercial relations and to satisfy the demands above enumerated cost us in that year the amount of our favorable trade balance and nearly fourteen million besides with tho loss 0 fourteen million in bullion in 1892 the present legislation being in force there is no excuse for unusual surprise at the loss of in gold during six months of alio present year in the face of an adverse balance of trade ol 01 nearly it is surprising that our gold loss is so moderate and that the drainage ceases and the golden tide sets pur way earlier in the season than is usual if silver legislation is responsible for our gold loss early in the year nothing lias since been done by the government by the press or by financial and commercial institutions to allay the fears and apprehensions abroad which are alleged to have been created by the act the silver act of 1890 requiring the purchase of ounces each month displaced the act of 78 requiring the expenditure of not less than two nor more than four million dollars eacle month purchasing silver at or below 88 cents per ounce more silver was purchasable under the earlier than under the latter act we are not now dealing with the merita of either act but it ii a matter of history that under neither was the country subjected to excessive strain were workmen thrown out of employment nor widespread uncertainty introduced trod while the republican party controlled the national administration |