Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1888-10-31

State of New York in banks of his own selec-
ton, nearly 3,000,00 of Treasury funds, and in
this great Western body of States. comprising
Illinois, Michigan, Wisconsin, Minnesota Iowa,
Kansas. and Nebraska with double the popula-
tion of New YORK, and in special need of ready
money at this time to move the crops forward to
market. the Secretary has given but little over
So, 000 go, the rule of the Secretary apparently
being that to State of political Importance to
the administration S13 1000 is given and to
seven States with double the population that
hopelessly Republican considerably less
than half that amount. Such political gambling
and personal sporting with funds of the common
Treasury of the people of the United States have
never been dreamed of before in this country.
Think for q moment, if any man had proposed O.
law that, with all balances in the Treasury be-.
yond TIE immediate requirement of the Govern
ment, the Secretary might loan them, without
interest, under the guise OF deposits, to whom
he pleased and place them where he pleased
Was there q Senator or Representative bold
enough to vote for that measuro2 And yet it is
precisely what Secretary Fairchild is now doing
with the surplus in The Treasury. And all
this, too, in the face of Mr.. Cleveands own
pointed condemnation of such practice in his
message to Congress in December, 1887, hen
he said
"The proposition to deposit the money held by
the Government in banks throughout the cOun-
try for use by the people is, it seems to me. ex-
csedingly Objectionable in principle, as sestaf,-
listing too close relationship between the
operations of the Government Treasury and the
business of the country ana
commingling of their money, thus fostering an
unnatural reliance in private business upon pub
should only be done as temporary expedient to
meet the urgent necessity. The legislative and
executive efforts should be in the opposite direc-
ton, and should have tendency to divorce, as
much and fast can safely be done, the
Treasury Department from private enterprises"
6. Lastly, the Republicans arraign the Pres
ident for q deliberate attempt to destroy the
protective system of this country by using
against it argument it's tendency to pro-
duce surplus in the Treasury, when not one
dollar of surplus would be there if the money
had been lawfully expended in reducing the pub
lie debt, instead OF being loaned out to pet banks
and for the benefit of political favorites. The
friends of the President, apparently authorized
by himself, pending his election, gave the people
of the United States pledge that the Demo-
cratic party would not during. his ad1ninistra-
ton, assault or endanger the protective tariff
1t therefore came upon the people as a genuine
surprise when the President charged the pro-
tective system with being the cause of the sur
plus which had been industriously accum ulated
to the neglect of grave duty, have described.
The pretense that there was no authority to
buy bonds premium was long ago exposed
in both houses of Congress- and the people now
see that money loaned for an indefinite period
to Mr.. Jordan's bank in New York, placed in
the Covington banks to aid the election OF Mr..
Carlisle, ought long ago to have been used for
the purchase OF United States bonds and the
reduction of the public debt.
In my judgment the people of the United
States are not to be hurried into free trade by
panicky cry from the President OF Secrstary.