Show 10 GOLD A few daya ago TE gave the history of the present gold standard tha american of philadelphia of last issue is just to hand containing an editorial in lino with our statements and the subject ia so clearly and strongly presented that we give a quotation the responsibility for our industrial ills tor the distress and suffering of our producing classes lies with those who are responsible for the enhanced value of gold aa compared to silver this enhancement han cement has been especially rapid during the past five years and consequently the suffering entailed upon our farmers the ruin and losses of our manufacturers and the distress 01 our wage barnini ear nini classes have been especially acute and the responsibility for this enhancement the consequent fall in prices and the drain on our gold reserve cannot be laid solely at the door of mr cleveland he must share the responsibility lity but be is no more to blame or the unsatisfactory condition of our finances or for abo paralysis ot industry than ia mr mr cleveland but followed in tho footsteps of mr harridon Harri aon in discarding silver as money metal available for redemption purposes and in undertaking to redeem the treasury notes in gold at the demand of the and it ia the pursuit of abia policy that has led to that increased demand for gold fall in prices and drain on our gold for export that has resulted in mr borrowings the drain on our gold reserve since become so monotonous set in in 1891 not as the result of change or even talk of tariff change but through the arbitrary action of mr foster then mr harrisons secretary of the treasury in surrendering abo discretion given him by act 0 congress to redeem treasury notes in either gold or silver and giving to the the right to choose the dearest metal gold in payment thus the demand for gold was increased and ae the demand increased eold appreciated and prices tell and to this fall in prices which has so greatly diminished the debt paying power of our exports is directly due the drain on our gold tor export unable at the low price to export sufficient produce in excess of imports to meet our interest charges on our foreign indebtedness the expenses of americans abroad and freights due to foreign shippers and oar foreign creditors because of our impoverishment and apparent inability to earn interest charges being unwilling to make w further loans by purchasing our securities abe export of gold became unavoidable and until we get bettor price for oar exports which will bring prosperity paying our debts in the best money that s in the dearest money that our creditors can devise paying oar creditors in dollars that call for double abe quantity of produce to which they are entitled has continued already too ong persistence in this will ead to national as well as universal and corporate bankruptcy mr mckinley tells us confidence must a restored but until we restore the profits of industry the restoration of will be an impossibility for confidence rests on abe ability of debtors to pay their debts which is de on tho profits of industry higher tariff duties cannot bring renewed prosperity for they do not hit at the roots of the evil i e low prices for products can alone brine better prices and better bricea can alone bring prosperity |