Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1886-07-15

II
banks to the extent Of 500, 600, 900 Of
three per cents that he thought was the
handspring Of the hostility to the measure.
He knew Of
80 BETTER WAY
Of maintaining the Government credit and
strengthening it than by paying its inter
est bearing bonds and indebtedness That
was the way it had been done. He did
not object to the reservation of Slo0, 0O0,-
600 to secure greenback circulation. The
money was In the Treasury and all that
was asked was that the amount should be
paid ont in liquidation of the public in
debtedness. That was what busi-
ness man would do; that was what the
Government. had done, and why, he asked,
was there all of this scare at this time,
why when there was suggestion OF the
propriety of paying fifty or seventy million
dollars of the public debt? As to this
danger call and signal, there was nothing
in it. The Government /.
COULD PAY 1T WITH LESS
than the amount of greenbacks that there
were to-day in the treasury. He felt assured
that within the next thirty days after the
first payment the receipts from customs
and other sources would put enough money
in the treasury to handle another ten mil
lions of the debt Just as they handled the
first ten millions.
Mr.. Mckinley, of Ohio, said that this
resolution, coming as il did from the DEM
Oeratic majority in one branch OF the Gov
ernment addressed to y Democratic Exec
utive in control of another branch, WAS to
say the least
EXCEPTIONAL AND REAtkRKABLE
II was proposition coming from the ma
iority of the Committee on Ways and
Means, which was in political accord with
the present President of the United States,
and undoubtedly wonld receive the ap-
proval of the majority on the other side OF
the chamber. IL WAS n proposition tocom-
pei the President of the United States and
the Secretary of the Treasury 70 do that
which they had always had the power TO
do; to do that which they now had the
authority to do, under section 2 OF the Act
of March Sd, 1881. Yet in sixteen months
of Democratic administration that Admin
istration had called but SIS, 000, 900 Of gov
/
outstanding Sll0, 900 900 OF the five per
cents extended now known ~ the three
per cents, which are redeemable at the
pleasure of the government. In view Ofthe
record OF tho Democratic party, in view Ol
its declaration in platforms and on the
public rOstrum in favor OF the distribution
of the surplus in the payment Of govern
meut bonds, in view of its frequent char
acterization Of the Republican party as
dishonest for keeping surplus in the treas
ury, i'm view OF the record made by its own
administration, il wlKs not surprising that
q majority Of the Committee on Ways and
Means, under the leadership of the leader
/ of one YingOf the Democratic party, should
insist that the President Of the United
States and the Secretary of the Treasury
should keep the pledges which had been
made to the people. This action was the
more suggestive when the gentleman took
\ into consideration the record which
THE REPUBLICAN PARTY
had made on this question. Since the con-
clusion OF the war, the Republican Admin
istration had paid off 81 POO, ,OOO, 900 OF
public indebtedness. It WAS not surpris-
! inc that looking at the Republican party
and looking at the record Of the first SIX
| teen months of the Democratic Admins
| tration, the two wings OF the Democratic
party should flap together and demand
that the President should pay out some OF
the surpluS on the bonds Of the country
| UAughter.) In 1881, with a surplus Ot
500, 900, 900, a Republican Secretary OF
the Treasury had called liz Sl2l 900, 600 in
government hOndS. In 1892, with sur
plus of S16G, ,OOO, 900 Republican
Secretary had called in $l73, 900, 600 OF
bonds. In 1888, with surplus
IofSl34. 900, 900 Republican Secretary had
called in $3.50, OU0. 900 of bonds, and in
1851 $40, 600, ,OOU. The Republican party
had averaged in the last four years $l53,
900, 900 every sixteen months. While III
the past sixteen months the Democratic
PARTY had made q record of bat $l5S, ,OOO,-
600. Why did not the administration Of
Grover Cleveland pay out the balance IN
the Treasury on the public debt? Some
gentleman on the other side in confidence
with the administration ought TO explain
why the Secretary did not exercise the dis
cretion given him by law. He Mr.. Kin
ley believed it to be
WISE DISCRETION
20 permit the officer charged with the ad
ministratiOn OF the fiscal affairs of the gov
ernment 10 call bonds or withhold call oI
bonds when the condition OF the publ,
treasury permittSd or demanded one or the
other. Therefore, unless the amendment
he had offered was adopted, he would feel
constrained To cast q negative vote on the