Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1888-10-27

miam Of Il Per can't, The raymens Of Tho
national debt. Mr.. Fairchild intimates that
hs viii not 60 above 1851 for the whole
body Of ~ per cent bonds still out. Il Waf
euggested that he might make per cents
He denies it and says that he can only make
! per cent and sixty-fve hundredths, a. if
that were rot worth picking up on $780,
0CO, COO.
General Harrison made vel grounded
accusation, and used happy phrase when
he accused the national administration of
nursing the SURPLUS" If Mr.. Faircaild
had invested S6O,0OO, eco in United States
bonds, it would not have appeared in the
surplus, but il he loaned it to the pet banks
it still appears a. part Of the friehtfui sur
plus to get rid OF, and the people must de-
stroy tbs protective tariff. There is very
suggestive point bearing on that to which I
beg Mr. FairchiId's attention. Between
March 4. 1856, and June 80
1856, year and four months from
President Cleye!and's inauguration, the
surplus in the treasury increased $95 .OO0,-
$4,000. 600. Of this $50 COO, COO, $44.5OO.O 900
was compulsory purchase for the sinking
fund. TIE further fact is revealed that there
was at that very date $4,000, COO of per
cent bonds that could have been called in
at par, and that they we're left in the hands
OF the private holders drawing interest, and
in order that the bug bear OF the surplus
might be raised, and Is General Harrison
said, carefully nursed.
You will AL recall that during the cam
palgn of 1855, almost every democratic ora
tor and journal declared the republicans had
$4OO, COZ, 600 of idle money in the treasury,
and one of the objects in turning the reDub-
Gcans out was to act free the $4O0 ,000, OOO. /
never heard one of them put the sum less.
But when they got into power they found no
5lrpius at all, because the republicans had
constantly applied whatever surplus there
was to the purchase of government bonds
and tie reduction of the public debt. think
during the last two years of President
Arthur's administration, nearly $500, OO0, 0C0
of the debt was paid Off. But Immediately
the policy Of President Cleveland's adminis-
tration vas to accumulate a surplus, and
they proceeded to have one, even when
bonds were on call at par, and millions were
lying idle IN the treasury. And at last, when
pressed to purchase, the secretary of the
treasury minated lack of authority be-
cause the law for purchasing bonds at a
premium was contained in clause attached
to On appropriation bill. And I be-
Eeve the president aided the secretary
of the treasury in discrediting the force and
validity of this enactment, as though an act
IL al dppEOpTidLACu I'LL ~3S 0O6 JOSb 90
strong piece of Law as though it were q
separate act. will suppose that the presi-
dent and secretary forgot. when they were
questioning the form of this legislation, that
the Presidents salary of $4,000 was
really in clause attached to an
bill. I do not believe that
the president has had any scruples
about drawing salary, which certainly bs-
longed to him, but the right to which rests
rra.jSolu thu foundation fhn
authority to pur ,hase bonds ct premium.
# the plea of lack of authority we're made
seriously by the treasury department., 1t
must be termed sheer ignorance. Ii it wera
not made seriously it deserves sharper
characterization than courtesy will permit
me to apply. And now with surplus artifici-
ally, studiously and persistantly piled up,
the democratic administration asks that the
it's future growth be averted by destroying
the protective tariff and revenue or free
trade tariff established in its stead.
Does not Secretary Fairchfd know that a
reduction Of the rate of duties viii largely
increase the importation and largely in
crease the surplus? If he does not know 1t,
let him recur to the cause that brought on
the financial crisis of 1887, and the financial
crisis of 1857, and if he is not satisfied with
these practical illustrations in his own coun-
try, let him 60 back It's years to the reign Of
Queen Anne in England, when Dean Swift
tho ministry that he might double
tle duty and halve the revenue, o. hsivs the
duty and double the revenue. Mr. Fairchiid
proposes, by way of getting rid OF surplus,
to halve the duty and double the revenue.
believe, Mr.. Chairman, that IL e,s never
partment that showed 80 little practical
of the condition of the
country, enc that has been so filed and psr-
meated with that offensive concSrS which
always Nj rks the theoretical free trader. l
said before, and repeat now, that if q re-
publican secretary Of the treasury had
loaned $50, OOO, COG TO ret banks all over thu
country without interest, tia democratic
party if they controlled the house. OF repre-
would have moved 10 impea1h
him and believe it. / don't say the repub-
licans would inpeaeh Secretary Esirchiid.
had they the control of tn, house, bee .ass
the republicans are Ios fond of violent
% ethods, but are accustomed to proceeding
with caution and moderation in pablo at
fairs. They don't wish to impaach him be-
fore the senate, but they impeech him before
the high cour. of the PEOPLE for having
done that which was plainly AGAINST the pub
lie interest, and for having failed to respond
to the presidents set by former secretaries
of the treasury, in faithfully aud constantly
applying the surplus to tbs reduction OF the
public debt.
Mr. Blaine concluded with some refer
ences to the tariff and its relation to indus
trial interests in the vicinity of New Albany.
In the evening there vas torch-lightpro-
cession, and General Hovey and Corporal
Tanner addressed large audience a. Mas
cottee hall. Mr.. Blaine and his party leave
for Lafayette at 8 O'Clock TOMORROW morn
ing over the Monon route. He speaks ct
battle ground Wednesday after.
noon.
REPUBLICAN ENTHUSIASM.
John Waller AID DR.. Phillip Krobn
Speak ut Oskaloosa.