The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1886-09-09

Grover Cleveland In order that this enormous
money thus lying idle be disseminated and diff
fused among the people, creating prosperity In
It's pathway And the promise was made for
vent 20 power. this great abuse would be
rected. How has this promise been redeemed?
The frat method of the redemption of this prom
ise was made by change In the public debt
statement, which by cabalistic manipulation
OF figures. this enormous hoard OF $500 900 900
was reduced IN single night TO sss 600 900 with
the paving OF any portion OF the debt. That was
the FIRST method. Now what were the real
facts? Leaving out of the account the money
held in the Treasury for specific purposes des-
ignated by law, and leaving out fractional sill
Yer which under this new manipulation OF the
Treasury balances is not called money, and
leaving out the accrued interest on the public
debt which is now calculated every day and
charged up, but including the s1o0, 100000 set
apart for the redemption OF greenbacks, there
was in the Treasury at the time Mr. Cleyeland's
election became certain ON the LIST OF Decem-
ber 1885, I'm round numbers, sll0 t0).0 900, or de-
Quoting the 500, 0OO 900 reserve $40 600 900 sur
plus.
President Arthur's administration doubtless
believing that il would be unwse to in any way
cripple the incoming administration in its new
ly proposed financial policy, refrained from
applying the surplus revenues, accruing be-
tween December. 1884, and March, 1885, to the
payment OF the public debt, as had been the
custom OF all Republican administrations since
the close of the war, allowed these accumula-
tions to reach on the ith of March, 1885 in
round numbers sl2),000.000, or $4,000 900 ex-
elusive OF the reserve So that when Cleveland
was inaugurated the surplus in the Treasury,
according to the present mode of computation
statement was $50 600 600 in round numbers
Now, was this surplus applied immediately to
the payment OF the interest-bearing debt, as
promised? Certainly not, until the surplus ac-
cumulated At rate of from So 600 900 TO SO co.,
900 Il month from the 4th day OF March to the
18th day OF December 1885, or for period of
ten months before single call made for
bonds, then call was made for SO O00, 900 pay
able on the lst February, 1886. So that when
this administration began the payment Of the
public debt by call for $40, 0O0, 900 of bonds the
surplus had increased, in round numbers to
$50 900, $50 00) 900 increase over and above
the accumulations in the Treasury when Mr..
Cleveland came into power, and $40 600 900 in
crease over the S110,000,0O9 December l. 1884
when it became certainly known that he was
elected. This payment Of sl0Oo0,0oO Febru-
airy ], 1856, was followed by other payments,
from time TO time, up TO the LIST of July last,
aggregating during this time a total payment Of
s50,Ot0,000 These payments were made from
surplus revenues coming into the Treasury, and
not from the Accommodations already made. So
that, on the first day OF this month with this
mutation in the Treasury of $50 000, 900 shown
by the debt statement, some $50 0OU, 600
beyond the amount in the Treasury when Mr..
Cleveland came into power This is practically
the condition of the Treasury to-day, showing q
surplus Of SS0,000,000 over and above every
possible charge that can be made against the
Treasury, including the charge of 500, 900 900
set apart exclusively for the redemption Of
greenbacks The excuse made by the admin
istration for this vast boarding of money was
that this accumulation was necessary to MAIN
tain large gold balance in the Treasury
Curiously enough, subsequent experience dis
sipated this excuse. During the period between
February l, loS6, and August /, 1856, when
$50 900, 900 of the debt paid, the gold balances
constantly increased, and is larger now than at
any time since the 4th of March, 1885. Even
the Democratic party itself became restless
because of this accumulation, and late in
July the House PASSED resolution requiring
the Treasury to pay out at the rate Of $4,000 900
Or1fh ha M Al,
specific terms did what was never done before,
set apart and devoted by this Joint resolution
SlOOOOJ,OOO in coin for the redemption of green
backs and for that purpose only. This resolu-
ton passed the House by more than two-thirds
majority, coming TO the Senate where il was
amended by allowing the Secretary of the Treas
ury in his discretion to hold working balance
Of 5000 600 CO., in addition to the S100 600 Oo0 in
order To meet extraordinary payments such as
pensions and the like, which drawn from
the Treasury in large sums and at stated inter-
walls. Thus amended, the bill passed the Senate
by large majority, l think more than two
thirds, and was returned to the House. A COM
mittee OF conference was agreed TO, and the con-
ferrees reported back the provisions substantial
ly as amended in the Senate, and these amend
ments were agreed 70 by more than two-thirds
majority in the House, and agreed TO with prac-
teal unanimty in the Senate, the yeas and
nays were not called in the latter body. This
moderate, conservative, and Just measure was
then sent to the President for his approval; he
quietly put IL in his pocket, refused to sign it.
on return il TO Congress unsigned, which il he
more than a two-thirds majority over his obiec-
tions. This must have been plain TO him. as it
was TO every member OF the Senate and the
House. Thus by interposing this pocket veto
he set up his own will and Judgment against the
unanimous will and judgment of the two houses
OF Congress. He knew as well as every person
who hears me now knows, that il he had refused
to sign that bill, and had returned IL to the
House of Representatives that ii would have
been passed in FIVE minutes over his veto By
more than two-thirds majority He knew, as we
all know, that if il had come to the Senate it
would have been passed with practical unanim-
ity don't believe that in the Senate there
would have been five votes against il. So that
the President Of the United States, in violation
of the spirit of the Constitution of his country,
withheld from Congress, knowing its published
will and Judgment, bill OF the most important
character relating to and affecting the inSus-
trial, laboring and material interests of this
country and in absolute contempt OF Congress,
put it in his pocket in order that Congress might
have no opportunity of reversing his judgment
with reference TO it. This is Democracy,
and the party in this State so de-
clare; because the first section OF their Demo-
cratic platform contains n full and complete in
dorsement OF the administration of President
Cleveland. Democrats and Greenbackers and
all are expected in this campaign to uphold the
hands of this administration in thus thwarting
the will Of Congress by the interposition of the
one-man power. And now what have you to
| say, my Democratic friends, with reference to
| the management of the finances of your adj
| ministration as compared with their manage
ment under Republican administrations and as
| compared with the pledges and promises sol
EMMY made to the people by your leaders?
Has the Democratic party redeemed its prom
| Uses respecting the alleged burdens of taxation
| imposed upon the people by our tariff laws?
| over and over again they said that our tariff
! system was one of organized jobbery made for
| the benefit of the few at the expense Of the
| many, which they promised to correct IL they
| could secure Democratic President and House.
| 1t would be natural TO suppose that so great an
evil would be remedied by this party of reform.
| that they would not allow slumber to their eye
lids until they had started we'll in the direction
| of correcting this abuse.
| The Senate, early in the session, took up the
| question of interstate commspce and the regu-
lation of railroads engaged in interstate traffic
| and after full debate and careful consideration
passed the Cullom bill" so-called. just meas
| ure on this subject.
| have already shown its failure in the man.
agement of our finances as respects the hoard
| ing of treasury balances, and the payment of
the interest bearing debt. 1t has failed to pro-
I vide for our natural defenses, and has made
| feeble and inadequate provision for rebuilding
and reconstructing our navy, so that, IL need be,
| we may be prepared to assert our power on the
ocean. IL has so administered the public land
/ system as TO unsettle all titles of the home
| stead settler seeking home in the Territories
! making no, distinction between these honest
settlers and the comparatively few who are
| seeking to despoil the Government OF the pub
| lie lands. IL has with persistency resisted the
| admission Of Dakota a State, upon the shall
| lowest pretexts because IL made State it