Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-07-17
The Surplus.

the House agsinst Morrison's resolution
in relation to the surplus, and one which
contracts very strikingly the management
of the treasury by the republicans with
that OF the democrats, was made by
Mr.. Mckinley of Ohio. From the report
of his speech we copy the following:
Mr.. Mckinley, of Ohio, said tina, this reso-
luton coming, as it did. from the democratic
majority in one branch of the Government
addressed to the democratic Executive in
control Of another branch was, to say the
least, exceptional and remarkable. 1t was a
proposition to compel the President of the
United STATES and the Secretary of the Treas
ury TO do that which they had always had the
power to do; TO do that which they now had
authority to do under section 2 of the Act of
March 3. 1881. Not only has the Secretary
Of the Treasury the power TO redeem the
bonds the moment they are redeemable, but
he has the power, under that section Of the
statutes, to go into the money market of the
world and buy the bonds which are not yet
mstured. And yet iI sixteen months of
democratic Administration. that Administra-
ton had called but s58,000,000 of the Gov
erDment bonds for redemption. 1t leaves
extended, now known as the three per cents
~ hich are redeemable at the pleasure of the
Government In view of the record of the
democratic party, in view of its declarations
in platforms and on the public rostrum in ia
vor of the distribution of the surplus in the
payment of Government bonds; in view of
its frequent characterization of the repubii-
can party as dishonest fer keeping surplus
in the Treasury; 10 view of the record made
by its own Administration, it was not sur
prising that majority OF the Committee on
Ways and Means, under the leadership of
the leader of one wing of the democratic
party, should insist that the President of the
United States and the Secretary Of the Treas
ury should keep the pledges which had been
made to the people. In 1880, with q sur
plus of sl00, 900, 900. a republican Secretary
OF the Treasurer had called in Sl2l ,000, 900
in Government bonds. In 1882, with sur
plus Of 5l66 .000, 900. a republican Secretary
had called in Sl73,000.0O0 of bonds. In
1888. with surplus of Sl34 900 900, a repub
lican Secretary had called in $50. 00O, 900 of
bonds; and in 1884, $4,000, 900. The re-
publican party had averaged in the last four
years Sl53. OOO. 900 every sixteen months;
while in the past sixteen months the demo-
cratic party had made record of about
S5S, 100000 Why did not the Adslinistra
ton Of Grover Cleveland pay out the balance
In the Treasury on the public debt?
OF course, republicans could not prevent
the democratic party from voting to-day a
want of confidence in its own administration.
They could not prevent it from voting vote
of condemnation upon the President and his
Secretary. That was what this resolution
meant. Think of it! A republican Secre-
tary of the Treasury presided over the fiscal
affairs Of the Government from 1879 to 1885
During that time the democratic party con-
troled the House for four wears. The re-
publican Secretary of the Treasury exercised
this discretion and House with larger
democratic majority than the present one
never thought of taking that discretion away
from him.
Mr.. Morrson-The gentleman is mistaken n.
Mr.. Mckinley Did you ever pass reso
luton compelling the Secretary of the Treas
ury to pay out the surplus?
Mr.. Morrison--I introduced Joint resolu-
ton and sent it to the Committee on Ways
and Means, and it never got out of the com
mittee.
Mr. McKinley-Exactly. Laughter.
Mr.. Morrison-And offered it in the House
and had the support of the gentleman from
Pennsylvania Randall !. and we were kept
from passing it by point of order from that
side of the House Annlause IN tho dapo
cratic aide.
MIR. McKinlev-But Won never nsssed If
You had control of the House. You had con-
troll of the Committee on Rules You could
have fxad a t,ma far consolidating !, oxao,ly
az Won d;5 nov Ynu had a Isrger ma;ori,v
than Won have NOW Wb.tever Won MAJ, h.v,
done in cnmmittea mr. attam,tsd 10 do On rho
aoor NJ rho Uonse ono th;na ia csr,a;n nn,
nave, did adont rasnlu,io, ,.k,pa ths, d.
crst;o, from rarnhl;can pras;Isn, a,d G.
rs,arv
NJ Morr;son-Jwas cd hv tho on
eration of tho democratic with tho, s;da If
the Uouse
M McK;,lsv-Tbat ia tho ,wo u,;n,s &c
tho democratic nar,v xsrs nor in h.rr,en, ~
tho, time rIanybtari and ana ,y;ra Win ,ba
ala of rannhl;cans nravepted von f-or, ,oL-
;ng tho s,arrtnrv decoration .w.v 60, ,ho
Secretary Rut now when Won have pa.
dent and rho Secretary of rho Traa.urr ho,h
w;ngs of rho democr,,;c nar,v MIC - 40
nounc;ng thsn tor nor c.,t;ns in ,ha houd.
and ahserh;ng rho snrnns r1.raht.rI 7,
"a No, 10 hs wondersd a. IT, oan,,s, IS
1874 vas waasd and won On Tho hn,.i al 80.
rho conn,rv 1bat tho rsnrhl;.an. bad stno
600 600 of idle surnlus in rho Trsasn,v .nd
wonld NO, nav ,he;r bo,as, ds,.t. Cay.rnn.
Hendricks stated that all over tho Wes,
h,va mn dorht ,bat M, rraonh.oL .,;and Co..,
JowaT Mr w,avar1 ga !, al ava, hi. s.