National Republican., 1886-12-07


surplus OF our revenues indicates abnor-
mai ond exceptional business profits, which,
under the system which produces such sur
plus, increase without corresponding bone-
III 10 the people at large, the vast accumu-
lations Of few among our citizens whose
fortunes, riyallng the wealth Of the most
favored In anti democratic nations, are n ot
the natural growth of q steady, plain, and
industrious republic.
our farmers, too, and those engaged dl.
rectly and Indirectly In supplying the prod
ucts OF agriculture, see that day by day,
and as often as the daily wants OF their
households recur, they are forced to pay ex
cessivo and needless taxation, while their
products struggle in foreign markets with
the competition of nations, which, by al
lowing a freer exchange OF productions
than we permit, enable their people TO sell
for prices which distress the American
farmer.
As every patriotic citizen rejoices In the
constantly increasing pride OF our people IN
American citizenship and in the glory OF
our national achievements and progress, n
sentiment prevails that the leading strings
useful to nation In It's infancy. may well
be TO great extent discarded In the pres
ent siege Of American ingenuity, courage,
and fearless self.relinnce. Aud for the
privilege Of iudulging this sentiment with
true American enthusiasm, our citizens arc
quito willing to forcgo an idle surplus In
the public treasury.
And all the people know that the aver
are rate OF federal taxation upon imports
is to-day, In time Of peace, but little less,
while upon some articles Of necessary con
sumption II is actually more, than was Inn
poeed by the gTievous burden willingly
borne AZ time when the government
needed millions to maintain by war the
safety and integrity OF the Union.
IL has been the policy Of the government
TO collect the principal part Of Its revenues
by tax upon imports, and no change In
this policy is desirable. But the present
condition Of affairs constrains our people to
demand: that by revision OF our revenue
laws the receipts Of the government shall
be reduced to the necessary expense OF It's
econo micGl administration, aud thisdomand
should be recognized and obeyed by the
peoples representatives In the legislative
branch OF the government.
In readjusting the burdens Of federal
taxation, sound public policy requires
that such Of our citizens as have built up
large and important industries under
present conditions should not be
suddenly and to their injury deprived OF
advantages to which they have adapted
their business, but II the public good re-
auires Il, they should be content with such
consideration as shall deal fairly and
cautiously with their interests, while the
just demand Of the people for relief from
needless taxation is honestly answered.
A reasonable and timely submission to
such demand should certainly be pos
sible without disastrous shock to any inter
est; and cheerful concession sometimes
aveTts abrupt and needless action, often the
outgrowth Of impatience and delayed JUS
tice.
Due regard should be also accorded in
any proposed readjustment to the interests
| Of American labor so far as they are In
volved. We congratulate ourselves that
| there ia among us no laboriDg class, fixed
within unyielding bounds and doomed un,
der all conditions to the inexorable fate OF
daily toll. We recognize In labor chief
| factor In the wealth OF the republic, and we
treat those who have It in their keeping at
citizens entitled TO the most careful regard
and thoughtful attention. This regard and
| attention should be awarded them, not only
because labor is the capital OF our working
men, Justly entitled TO It's share OF govern
| ment favor, but for the further and not less
important reason that the laboring man,
surrounded by his family In his humble
home, as n consumer is vitality interested in
| all that cheapens the cost OF living and en-
| ables him 10 bring within his domestic CIR
Gle additional comforts and advantages.
This relation Of the worklngman to the
revenue laws of the country, and the man
ner in which 1t palpably influences the
question of wages should not be forgotten
in the justifiable prominence given to the
proper maintenance Of the supply and pro
lection of well paid labor. And these con
| siderations suggest such an arrangement o
| government revenues as shall reduce thu
expense OF living, while 1t does not curtai
the opportunity for work nor reduce th'
compensation OF American labor and in
a.,1
fled place II holds in the estimation Of ou
people.
But cur farmers and agriculturists-tho
who from the soil produce the things con
sumed by all-are perhaps more directl
and plainly concerned than any other Of on
citizens in a just and careful system o
federal taxation. Those actually engageC
in and more remotely connected with thi
kind Of work number nearly one.half o
our population. None labor harder or NOR
continuously than they. No enactment
limit their hours Of toll, and no interposi
tion OF the government enhances to an,
great extent the value Of their products
And yet for many Of the necessaries ant
comforts Of life, which the most scrupulou
economy enables them TO bring into thei
homes, and for their implements of hus
bandry, they are Obliged to pay a pric
largely increased by an unnatural proht
which, by the action Of the government, 1
given to the more favored manufacturer.
/ recommend that, keeping in view al
these considerations, the increasing and un
necessary surplus OF national income au
nually accumulating be released to til
people by an amendment to our revenll
laws which shall cheaper the price Of til
necessaries of life and give freer entranc
to such imported materials as by Amer
can labor may be manufactured into mar
ketable commodities.
Nothing can be accomplished, however
| In the direction OF this much.needed reform
unless the subject is approached in
patriotic spirit Of devotion to the interest
OF the entire country and with willingness
to yield something FOR the public good.
The sum paid upon the public debt dun
S44 4,551 ,04338
During the twelve months ended Oct 81
1896, three per cent. bonds were called 70
redemption amounting to Sl21,2S3, 100, @
which $50, ,643, 200 was so called to auswe
the requirements OF the law relating to tn
sinking fund and $46,630,00O for the pur
pose OF reducing the public debt by appl
cation Of part OF the surplus In the treas
ury to that object. OF the bonds thu
called $40, ,269, 450 became subject unde
such calls to redemption prior to Nov.
1856. The remainder, amounting to $50
0l3,G50, matured under the calls after tina
date.
In addition to the amount subject to pay
ment and cancellation prior TO Novembe
/, there were also paid before that da
certain Of these bonds, with the interes
thereon, amounting to $5,072, $50, whic
were anticipated as to their maturity, @
which 2,G64, $50 had not been called. Thu
Sl0T 341 500 had been actually applied prlo
to the LIST OF November, 1856, TO the eS
tinguishment Of our bonded and Interest
bearing debt, leaving on that day still ou
standing the sum of Sl,153,4I3,ll2 q
this amount $s0,S4S, 200 were still reprt
scented by . per cent. bonds. They, how
ever, have been since November /, or wi
at once be, further reduced by S22, 2,60G, l5C
being bonds which have been called, as a
ready stated, but not redeemed and cal
celed before the latter date.
During the fiscal year ended juno 81
| lLGA lLnrn ..-nrn nnlInl Lln.lnI. Ihn nnnanIl