The Portland daily press., 1888-01-05
Lth CONGRESS- FIRST SESSION.
SENATE.
WASHINGTON. Jan. 4.

Among the papers presented to the Senate
was letter from Allen & Co., publishers, of
Augusta, Me-, showing the necessity for the
issue of fractional currency. Mr.. Frye,
who presented it, stated as a fact aston
ishing to him that this firm often received
in its business $1,000 a day in payments of
fractions Of dollar.
Senator Hale presented petition against
any change in the fishery treaties and in
favor of the rights of American fishermen
under existing treaties and legislation.
Senator Cullom presented several petitions
of the Illinois State Grange indorsing the
interstate law; favoring government own
ership of telegraph lines; denouncing gam
bling in futures; favoring the restriction
of immigration as proposed in the Reagan
bill; opposing the abolition of the whiskey
and tc bacco tax and favoring the placing Of
salt, lumber. sugar, etc.. on the free list.
Among the bills introduced and referred
were the following:
By Senator Observation-Disclosures to his postal
telegraph bill.
BY Senator Blar-To encourage the holding of
national industrial exposition OF arts mechanics
and productions of the colcred race throughout
the United States in Atlanta, Ca, in 1888 and
1889.
The Senate then took up the resolution for
message and was addressed by Senator Sher-
man. The President of the United States,
he said, departing from the practice OF his
illustrious predecessors. dropped from his
recent annual message all reference to the
foreign relations of the country. and to the
interesting questions in national affairs,
evening omitting the usual recognition Of
the Supreme Ruler Of the Universe, and
| postponing all things, celestial and terres-
| trial until the surplus revenue be got rid OF.
dfra mo m lSharma m
| felt called upon to consider; to inquire
whether the dangers spoken of in it were
exaggerated or not, and to examine the rem
| edies proposed. The existence of surplus
| revenue had been constant occurrence be-
| fore and since the close of the war. Instead
| of its being danger, it was an indication OF
| the continuous increase of the domestic pro-
| ducton Of the country and its foreign and
| domestic commerce, and of the steady i'm
| provement of its financial condition.
When, in 1906. President Jefferson had
| the good fortune of a surplus revenue, he
| asked lin his message to Congress) to what
| purpose the surplus should be applied, and
| expressed his belief that the patriotism OF
the people would prefer the continuance OF
| the imposts and the application OF the
money to the great purposes of the public
| education, roads, rivers and canals.
General jackson, when he had the like
| good fortune, had recommended the distri-
button of the surplus among the States, and
L
by Mr.. Calhoun, had passed both houses by
| large majorities and had been signed by
| President jackson. Large surpluses mad
| frequently been dealt with wisely by RepuD,
lican administrations, being either applied
| by the executive authorities to the payment
| Of the public debt, or its accumulation hav-
| ing been prevented by Congress from time
| to time by the reduction or repeal Of taxes
| These simple remedies had been applied In
the administration OF each OF Mr.. Cleye-
fcf fhA init mt
| other matters being neglected or cry ol
| alarm being raised. All such reductions OF
taxes had been made by the Republican
party. The Democratic party had now had
control of the House OF Representative;
| since the success of ''the Mississippi plan
Except for two years., and had not orgi-
| mated or proposed a reduction of taxes
| The only Republican Congress in ten years
| bad, by the act of March. 1888, largely re-
duced both internal taxes and customs duties
| to meet the very dlfticulty which now SC
alarmed the President.
WHY had not thePresident followed the ex
ample of his predecessors by using the powers
conferred upon the Secretary OF the Treasury
and applying the surplus to the reduction O
though outstanding bonds were redeemabe
| at pleasure, his administration had changed
the form of the debt statement, so as to con-
ceal nearly 30,000,000 of money as unavail-
able assets. and had swelled the surplus i,o iol
| cried out against it. If the President regard
ed this growing surplus as a danger, why
had he not, as soon as possible. brought his
influence to bear upon Congress to provide
for a reduction Of taxation? And why mac
not Congress applied the remedy?
The forty-ninth Congress had lived Its
two years and died. Mr. Cleveland was
then President of the United States. The
House of Representatives contained large
majority of his political friends. They alone
had the initiative, the constitutional power
to introduce a bill TO reduce taxes. Why
| had not that been done? The only answer
was that a controlling majority Of the De
mocratic party would not allow bill to be
reported unless it contained provision:
l which, in the opinion of a majority Of the
House. would greatly iniure or destroy