The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-10-20
A LEAF FROM HISTORY,

fined want, the latter an indefinite yearnlng
that has never yet been expressed in words
and fgures-has a record Of its own, replete
with significant facts. Its war now is against
a protective tariff. Once it was not wholly so.
The South was opposed to a protective tariff
for obvious reasons, but the Democratic por-
ton Of the North was not, if we may credit
Mr.. James Buchanan in his official utterances
while President. A perusal of his several
annual messages will reveal a curious mixture
of incompetency, inconsistency and insin-
certify. Never since the Republican party
came into power has the Nation been so embar-
revealed and confessed in President Buchan-
ans messages. From one years end to the
other the party and the Nation was torn up by
discussions of questions of finance that never
came near solution. Measures and bills were
cat-hauled in Congress without settling upon
any well-defned system of taxation, for the
reason that the party, then as now, did not
know its own mind nor how to conduct public
affairs. In his annual message of 1858 Presi-
lent Buchanan said:
at is vain to disguise the fact from our
selves that a speculative imitation of our cur
rency, without a corresponding initiation in
other countries whose manufactures come in
competition with our own, must ever produce
disastrous results to our domestic manufact-
ures. No tariff short Of absolute prohibition
can prevent these evil consequences"
The last Democratic President thus indi-
rectly comedies that protection encourages
and upbuilds domestic manufacture. And
now read a subsequent paragraph in the same
message, and uttered in connection with the
same subject;
"* y = To supply the deficiency in rev
enue] Congress, by the act Of the 23d of De-
cember, 1857, authorized the issue of $780,
900, 900 of Treasury notes, and this proving
inadequate. they authorized, by the act of
June Ia, 1855, a loan of 500, 900, 900, to be APP
piled to the payment of appropriations made
by law"
The public debt at that time, when the Ma
ton was in profound peace, was $54, 910,-
7T7.66 [, having increased 500, 900, 900 during
the year. In view of "the rapid increase of the
public debt, and the necessity which exists for
a modification [increase] of the tariff to meet
even the ordinary expenses of the govern
ment, the President enjoins great economy
How would such an exhibit sound coming
from President Arthur, or Garfield, or Hayes,
Or Grant, A Nation at peace and prosper
Gus" steadily going deeper into debt!
But Democratic imbecility did not disap-
pear in 1858. In his message of 1853 Presi-
dent Buchanan said:
'1t is extremely doubtful, to say the least,
whether we shall be able to pass through the
present and the next fiscal year without pro-
viding additional revenue. This can only be
accomplished by strictly combining the appro-
p~riations within the estimates of the different
departments, = and without providing
for the redemption of any portion of the $780,
600, 900 of Treasury notes which have been
already issued. = = 1t would be a ruinous
practice in the days of peace and prosperity
Csic] to go on increasing the national debt to
meet the ordinary expenses of the govern
ment. y = Should such a deficiency occur
as l apprehend, l would recommend that the
necessary revenue be raised by an increase of
our present duties on Imports"
The next paragraph of the message shows
that interest on the public debt to the amount
of ST., 405, 2s5.A had been paid during the
year on a debt contracted in a time of Demo
cratic ''peace and prosperity" An annual
interest charge of SIT, 900, 900 on a debt con-
tracted in time of peace, and not enough rev
enue to pay even the INTEREST," What would
be the speedy fate of the Republican party if
it failed even once to promptly and fully meet
the interest account, to say nothing of $780,
900, 900 or more on the principal every year?
But the Democratic financial middle only
increased as time passed, and in his message
of 1860, the last issued by a Democratic Pres
ident, and, let us hope, the last ever to be
issued by a Democratic President, he said:
at is now quite evident that the financial
necessities of the government will require a
modification increasel Of the tariff during
your present session, for the purpose of in
creasing the revenue"
This is the latest record of the party that
now, with unparalleled impudence, demands a
change and asks to take charge of affairs!
How long would it be before Democratic mis-
management would bring about a default in
the INTEREST," The party that increased the
public debt annually at the rate of 500, 900, 900
in peace and 81, 900, 600, 900 in war is unfit to
talk Of reform and to denounce that party
which has paid a thousand millions of Demo
cratic debt and reduced the annual interest
charge from $3.50, 900, 900 to $50, 900, 900. The
Democratic party, when last in charge of
public affairs, paid u per cent. interest and
increased the national debt by 500, 600, 900
and can't forgive the Republican party for re-