St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-16

the campaign or 1854 almost every
Democratic orator and journal declared
the Republicans had $500, 000,0 900 Of idle
money in the treasury, and one of the
was to set free that money. / never
heard one of them put the sum at less.
But when they got into power they
found no surplus at all, because the Re-
publicans had constantly applied what
ever surplus there was to the purchase
of government bonds and the reduction
of the public debt. During the last two
years of President Arthur'S administra-
ton, think, nearly $500, 100000 Of the
debt was paid off. But, Immediately,
the policy Of President Cleveland's adj
ministration was to accumulate sur
plus, and they proceeded to have one,
even when bonds were ION calF'
at par and millions were lying
idle in the treasury. At last
when pressed to purchase the secre-
tary of the treasury intimated lack OF
authority, because the law for purcbas-
ing bonds at premium, was contained
in a clause attached to an appropriation
bill. l believe the president aided the
secretary OF the treasury in discredit-
ing the force and validity of this enact
ment, as though clause on an apprO-
prlatlon bill was not just as strong
piece of law as it would be if a separate
statute. | suppose that the president
and secretary forgot when they were
questioning the strength of this form of
legislation that the presidents salary of
$50, 600 was enacted in a clause attached
to an appropriation bill. | do not be-
lieve that the president has scrupled
about drawing salary which belonged
to him, the right to which rests pre-
0iCnIu tho fnn,hda tinn q : tho
authority to purchase bonds at pre-
MUM. If the
PLEA OF LACK OF AUTHORITY
is made seriously by the treasury de-
partment it must be termed sheer ig-
norance. If it is not made seriously, it
deserves a sharper characterization,
that courtesy will not permit me to
apply. Now, with surplus artificially,
~studlously and perSiStently piled up,
the Democratic administration asks
that the growth of that surplus be
averted by destroying the protective
tariff, and that revenue or free trade
tariff be established in its stead. Does
not Secretary Fairchild know that re-
duction of the rate of duties will largely
increase the importation and largely
increase the surplus? If he does not
know it, let him recur to the
cause that brought on the financial
crisis of 1887 and that of 1851; and, if he
is not satisfied with these practical
illustrations IN his own country, let him
go back rs years. to the reign of Queen
Anne, in England, when Dean Swift in
formed the ministry that they might
double the duty and halve the revenue
or halve the duty and double the rev.
enue. Mr.. Fairchild proposes, by way
OF getting of a surplus, to halve the
duty and double the revenue. be-
lieve that there never was an admins
tration of the treasury department
other than the present one that showed
so little practical comprehension of the
condition Of the country; one that has
been so filed and permeated with that
OFFENSIVE CONCEIT
which always marks the theoretical
free trader. | have said, and | repeat,
that if Republican secretary of the
treasury had loaned S60,000,000 to pet
banks all over the country, without III
tereSt. the Democratic party, il they
controlled the house of representatives.
would have moved to impeach him, and
l believe it. dosnot say the Republi-
cans would so treat Secretary Fairchild
had they control of the house, because
the Republicans are not fond of
violent methods, but are accustomed to
proceeding WIFI caution anu nOuerd-
ton in public affairs. They do not wish
to impeach him before the senate, but
they do impeach him before the high
court of the people for having that
which was plainly public interest, and
for having failed to respond to the pre-
cedentS set by former secretaries of the
treasury in faithfully and constantly
applying the surplus to the reduction of
the public debt. Butall this bears upon
the one question whether this great and
mighty republic is willing now, on the
proposition of Presidents CleVeland'S
administration, to
DESTROY THE PROTECTIVE SYSTEM.
under which it has grown. If the pro
tectiye tariff is destroyed what becomes
of your industries? Kentucky, across
the river, has beneath her soil more
wealth in coal, iron and natural gas
than any state of her size, but KEN
tucky's voice is heard in the national
councils against doing anything to de-
yelop her great resources. The policy
of the Republican party has never been
sectional, but has aided in promoting
the material interests of all sections
alike, and the South with all her slaves
before the war did not have half the
money that she has to-day"
In the evening there was torchlight
parade-and Messrs. Hovey and Corporal
Tanner addressed large audience at
Mascot hall. MI. Blame and his party
leave for Lafayette at s O'Clock to-
morrow morning over the MOnOn route.
He speaks at Tippecacoe battle ground
Wednesday afternoon.