The Superior times. [volume] (Superior, Wis.) 1870-1912, 1888-11-03

s ate of New York. in banks of his own selec-
tion, nearly 1l3,O0j0 - of Treasury funds, and in
this great Western body of States. comprising
Illinois, Michigan Wisconsin, Minnesota, Iowa
Kansas, and Nebraska, with double the popula-
tiOu of New Nora. and in special need of ready
mon y ut this time to move the crops forward to
market, the Secretary has given but little over
Sj001,E0, the rule of the Secretary apparently
being that to State of political Importance to
the administration $l3. 900 D is given and to
seven states with double the population that
are hope!essly Republican considerably less
than half that amount. Such political gambling
AMI 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 n moment, if any man had proposed n
law that, with all balances in the Treasury be-
yond the immediate requirement OF the Govern
ment, the Secretary mis- Int loan them, without
interest, under the guise OF deposits, to whom
he pleased, and place them where he pleased
Was there ever Scnat& on Representative bold
enough to vote for that measure? And yet it is
precisely what Secretary Fairchild is now dom
with the surplus in the Treasury. And all
this too in the face OF Mr.. Cleveland's own
pointed condemnation of such practice in his
message to Congress in December 1887, when
lie said
The proposition to deposit the money held by
the Government III banks throughout the cOun-
my for by the people is, il seems 10 me. eN-
G. eGingly Objectionable in principle as estab-
fishing too close a relationship between tho
operations of the Government Treasury and the
! business OF the country, and too extensive n
conminglinS of their money, thus fostering an
unnatural reliance in private business upon pub
1 lie funds. If this scheme should be adopted it
( should only be done a a temporary eXpediCnt to
! meet the urgent necessity. The legislative and
executive efforts should be in the opposite direc-
( ton. ana should have tendency TO divorce as
much and rs fast safely be done, the
] Treasury Department from private enterprises
6. astly, the Republicans arrRign the Pres
ideut for a deliberate attempt to destroy the
protective system Of this country by using
against it as argument its tendency to pro-
duco surplus in the Treasury, when not one
| dollar of surplus would he there if the money
frY1ly lodi
lie debt instead Of being leaned out TO pet banks
and for the benefit Of political fayorites. Tho
! friends OF the President, apparently authorized
/ by hlmseH pending his election gave the people
/ Of the Uni ed States a pledge that the remo-
cratic party would not, during his adminstra-
! ton, assault or endanger the protective tariff.
/ Ii 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 lndustrously accumulated
to the neglect of grave duty l have described.
/ The pretense that there authority to
/ buy bonds premium Was long ago exposed
4 III both houses OF Congress, ana the people now
I see that money loaned for an indefinite period
/ 10 Mr. Jordan bank in New York or placed in
/ the Covlngton banks to aid the election of Mr.
/ Carlisle, ought long ago TO have been used for
[ the purchase of United States bonds and the
I reduction OF the public debt.
! In my Judgment the people Of the United
U States not to be hurried into free trade by
Y a panicky CRY from the President Secretary
/ Too many great interests are dependent upon il
interests cf capital and labor; interests in the
/ East. in the West in the North. and in the
/ SOutE-great interests common 70 tine whole
Union. | shall not tonight argue the question
further than 10 arraign the President for preciu-
iiatng it in an unprecedented manner and for
having used extraordinary means TO ere at pref
I udice against the protective system and with
deiusive a. garments to commend the destructive
I theories Of free trade TO the people. When I'M
I derstood by the pacple the Presidents metho 4
I Of approaching the question VIII strengthen the
cause of protection and not weaken it. and will
/ in my judgment in the snd prove one of the 20
tent causes Of his defeat at the approachiue
/ election.