Democratic Sentinel, Volume 21, Number 42, Rensselaer, Jasper County, 15 October 1897 — A FIFTY-MILLION-DOLLAR STEAL. [ARTICLE]

A FIFTY-MILLION-DOLLAR STEAL.

Wall (St. I. 00l Raids the United States Treasury. New York, Oct. 14.—The World saysjto-day: A steal involving an immediate loss to the government of $20,000,., 000 and an ultimate loss of over $50,00,000 will be consummated within the next twenty days unless President McKinley interposes his authority and protects the people. The Union Pacific railway com-* nany owes the government over $53,000,000. A pool of Wall st. bankers has engaged in a scheme of reorganization which contem. plates the payment of 62 per cent to thejgovernmeut, or less than $33,000,000, while securities subordin ate to that of tho government will obtain 15 per cent upon theiriclaxms All the 1 •*gal rights which the gov drnmeut might avail of in the pur suit of the plunderers who rifled the company treasary are to be abandoned, and the terms of sale have been fixed which absolutely bar every form of competition and give the pocfl a big prize. There are scandal >us rumors tracing a connection between ibis colossal steal and the subscriptions of Wall st. to the Hanna campaign fund and the selection of at least one prominent cabinet official. ' If President McKinley will act and prevent tins public robbery—worse than the bond syndicate.. the World will show him a way.

Wait and see our Nursery stock before buying. Will have a full line at White’s livery barn during the month of October, and w'll sell atone half agent’s prices. F. A. Wqodin, Foresman, Ind.

Duiing the month of September the publio debt, less cash in the treasury, increased $3,787,592. This inorease was balanced by a decrease of cash in the treasury. But the same eoonomie sages who were wont to tell us that the country could not prosper so long as the debt was increasing now as. sure us with much exultation that the country was highly prosperous last mouth while the debt was increasing.

These same sages were wont to make much ado about the insufficiency of the revenues to meet ttie expenditures of the government. They perceived an intimate and necessary relation between the ratio of receipts and expenditures and the prosperity of the people, and were quite sure that the people could by no means prosper unless the treasury was taking in more than it was paying out. Now they assure us that the people have been doing finely during the three months sinoo the beginning of the present fiscal year, bu ; they have very little to sav abou ; treasury income and outgo,and tha ; little is very lame. The fact to which they do not invite particular attention is that during those three months the expenditures exceeded the receipts bv very nearly 830. s 000,000- *29,939,595. How is this fuot maae to square with the al - leged prosperity and the theory that an excess oi expenditures is incompatible with prosperity? The deficit for the first quarter this ysar is the largest on record in time of peace. Daring die first quarter of the fiscal year 1896 the defiejt was less than *10,000,000 *9,884,653 —while the same quarter oi • 1895 it was only *780,000. Tho country was far from prosperous in these periods, while ft is said to be wonderfully prosperous now. This might be taken as showing hat the reverse of the republican h<=ory is true and that tho large** the deficit the greater the prosper., ity. In fact, it only show* that Ihero is no necessary co neotion between the income and outgo of the treasury und the general prosperity. it shows only this, and ;hat the republican sage is ready to lay any misfortune, from a treasury deficit to a general drouth and crop failure, to tho ascendency of the wicked democrats.

Much of the republican organs as try to preserve some little show of consistency tell their readers rhat the deficit has been diminish* ing since the beginning of the fiscal year and ask them to believe that this is what accounts for the prosperity. But here, as elsewhere, they avoid the facts. The deficit was less in Meptemler than in Au* gust, but greater in August than in J uly. A decrease in September is not an unprecedented thing, but an increase in August over July js out of tho ordinary. The puerility ot this claim that decreasing deficit is the cause of prosperity >.b shown by the following comparative statement of deficits for the three months of July, August and September this year and last: Deficit ’97. Defied, ’9O. July, $11,073,545 $18,059,250 August. 14,664,432 10,139,580 September, 3,435,717 1,996,290 According to tne republican the** ory the country should have been gaining in proßperitv faster last year than this, because the deficit was deereasing decidedly faster. But the republican j insist that the country was goin - to the dogs on the double quick last year from fear of democratic success. Of courso they forget to explain why the cause did not produce an increase in the deficit. The trouble with the republican sages is that whenever they attempt to make facts square with their theories of a necessary association between democracy and calamity they are sure to gat themselves into an inextricable snail, because the facts are dead against them and are wholly inexplicable upon their theories.—Chicago Chronicle.

The finest line of box, calf.and winter tan shoes for ladies and gents, also the best stock of boots ever brought to this city, at Judge Haley’s, tne “fine ould Irish g:ntleman,’ who will take great pleasure in showirg them to you. Doctor Moore/ the careful specialist, .Rensselaer, Indiana. Low Rates, One-Way and RoundTbip to the South, via the . Southern Railway The Southern Railway, penetrating the best States of the South and South east, call* attention to its One-way Settlers and Round-trip Home 8e kers tiokets at special rates on, third Tuesday of October and on the first and third Tuesdays of November and De *ember. For full information; rates ana Maps write to J. O. Beam, Jr., N. W. P. A. 80 Adams St, ChloagoJHl. Wm H Tayloe, A G P A Louisville, Ky.