The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-10-10

ican, reduced it $42 900 900. The total reduc-
ton of the revenue, under Republican admins
tration, since 1868 has been $29o, O5l 900, and
the total reduction of taxes has been ST. 073, 9l2-
900.
How is that for record7 And yet the Demo
Gratis go about the country bowling for tariff re-
form. l want my opponent to stand up here
and tell you whether or not he favored the Nor
rison bill, and we shall see how he stands on
these questions. In his Fort Wayne speech he
referred to the fact that no Republican had
offered an amendment to it to take the duty of
of sugar and molasses They didn't have
chance to, for when the bill came in Mr.. Converse
moved to strike out the enacting clause before
any amendment could be offered, and we all
voted for that because it was the less of two
evils. In the Forty-sixth Congress General Tom
Browne offered an amendment to the tariff bill
to put sugar and molasses on the free list In
the last Congress | said to the Democrats: III
you want to reduce revenues as you claim, just
bring in a little bill here putting sugar and mo-
lasses on the free list, and we will all vote for It,
1t won't take many minutes to make it law"
Did they do it, No, indeed And whyi Be
cause it touched little spot in the South, for
which all Democrats have peculiar and touch
ing affection. Laughter.
My opponent quotes me as saying that we
have over $400, 600, 900 surplus in the treas
ury. l used that word surplus with reference
to credit, for the money is all there for pur
pose. 1t is not idle-it will not be idle. Let me
| tell you what that money is there for: In the
report of United States Treasurer Wyman, the
| SO-calleQ surplus was Sf0l, lOZ. QUO. L. vi JliS
amount there was held, first, for the redemption
| of bonds and payment of interest, past due, but
not yet presented, $40 643, 683; second, for the
redemption of gold certificates in circulation,
$S7 3S9, $50; third, for the redemption of silver
certificates in circulation, $96 49l 251; fourth, for
| the redemption of certificates issued on deposits
of United States notes, $15, $50, 600; fifth, for
disbursing officers, such as pension agents: pay
masters, ETC., subject to their check S, $23 6lO-
291 sixth, for drafts and checks of the Treasur-
er, not yet presented for payment, S., 657,014;
seventh, the per cent. fund for the redemption
of national bank notes, $l2, 575, 074; eighth, for
the redemption of notes of national banks
that have failed are reducing
their circulation, $50, $50 1885, ninth, balance of
Postofice Department account, 1862, O48 A
call of bonds to mature Nov. l, 1884, will reduce
| the available cash balance 100000 OO0 VI the
| amount of available cash, $50 OOO was oo-
tanned By sale of bonds, under act of Jan. a.
| 1875, to create fund for the resumption of
specie payments. The amount of the reserve
| for this purpose has, as matter of prudent ad-
| ministraton, been maintained by the Secretary
| of the Treasury at about $l3S, 600, 900, about
| 40 per cent of United States notes outstanding
fixed by law $346 681, DIG. The balance is held
as balance wheel to preserve the equilibrium
and equality Of all our currency-to prevent
brokers from specializing in it. My opponent
says that it is the policy of the Democratic party
| to keep the treasury empty. Well, guess that
| is So When we got it from them in 1860 it was
| as bare of money as Mother Hubbards cupboard
/
this time we had better notrisk giving it back to
them, so that they can empty it again
| Regarding the tariff question, the Democratic
| doctrine, as l understand it, is an adj valorem
| tarif-one without reference to protection, but
/ scaled so low that it will produce just enough
| revenue for government needs. The great mass
of the Democracy are for revenue-only basis;
so much in fact that it is Endorsed by the Cob
den Club of England, and the free trade clubs
of New York and Brooklyn. call upon my
| opponent to either defend or denounce that
| policy. / denounce it, and say that it would be
ruinous to the government he says that his
| party is not q free trade party. Let US see
about that 1t declared in its platform of 1856
that the time had come for the people of the
United States to declare in favor of progressive
free trade. 1t reaffirmed that doctrine in 1860.
In 1864 it said nothing about it. In 1868 it ia
vored incidental protection. In 1872 1.-THE
year it nominated Greeley and killed
him) it RENTED the question to
| the congressional districts. In 1876
| it declared for tariff ''only for revenue;" in
1880 'for revenue only" and in 1884 for fed
eral tax exclusively for public purposes.
| What's the difference-''only," is Exclusively"
and Exclusively" is only" II their last con-
vention was in favor Of protecting workingmen
why didn't it adopt the resolution offered by
| General Butler member of the committee
| which was as follows:
THAT the laws imposing duties for revenue should
be 30 adjusted as best to promote American enter
prise and business industry, to cherish and foster
American labor and not create monopolies"
The Democrats voted that down. l hold my
| opponent to this fact. He cannot dodge the
real issue. All the great oraeles of his party
have defined it; men with world wide reputation
| They know what the real issue is, and they OPP
| pose protection Listen to few Of the utter
ances of the Democratic leaders:
| Mr.. Morrison, of Illinois, said:
| And gentlemen but deceive themselves who expect
the people to be deceived by refusal to legisate in
accordance with this declared purpose. If protect
i've policy is to be the continuing policy of the
ment it viii be, and ought to be, intrusted to its
friends, the Republican party.
Mr.. Hurd of Ohio, said;
If 1 can, with my earnings make better contract
with Mexican, or u FFencbman, or Canadian,
and Englishnlan, than with American, ought to
have the privilege of doing it; and the government
has right interfere except in far the neces
sites of its revenues may require.
Mr.. Cox, of New York, said:
There is absolutely no sufficient remedy for this
condition of labor but the repeal of the law that has
put factory and mill production artificial basis
instead If natural one of supply and demand To
this we must soon come.
Mr.. Hammond, of Georgia, said:
We must come to basis sooner or later
If this demand is needed things will adjust them
selves slowly and quietly If is despsed the result
will come nevertheless But in that case, it may
come suddenly, it may come ruinously, upon all who
understand the peoples camor for reform and reduc
ton of taxes.
Mr.. Blackburn. of Kentucky, said:
The people aroused for the first time in their
lives this tariff question. 1t is the issue in Amer-
can politics to-day. 1t will not down.
Mr.. Mills. of Texas said:
The people in New England States and New York
and New Jersey and Pennsylvania, have markets at
home for nearly all their farm products The country
there is not exclusively adapted to either agriculture
| or manufactures. Each branch of industry finds a
market with the other. 1t is not so with us in the
West and South We must either Rave the foreign
market none.
Mr.. Jones, of Texas said:
Protective tariffs have been denounced by political
economists and theorists in all ages as unwse and as
obstructive of all the industries of the country which
enacted Them and finally hurtfu to tho protected in
terests themselves The great leaders of the Demo-
cratic party have denounced them unconstitutional
unwise and unjust from the time of Thomas jefferson
to the present. But the school of statesmen in
the United States have advocated tariff for