Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1888-10-16

Mr.. MILLS said:
Mr.. SPEAKER: The report Of the Treas.
ury Department shows that We have now
in the Unit,d States over 81, SOC, ,000, ,00O
in gold, silver and paper money. OF thii
amount, exclusive of bullion, there Is se-
curely locked within the vaults Of the
Treasury the sum of $500, ,000, 900. OF
this latter sum one hundred millions Is Get
apart to secure the redemption Of the Gov
eminent Treasury notes; one hundred and
uineteen millions is set apart TO secure the
redemption Of gold certificates; two bar
drsd millions is set apart to secure the ~
demption of silver certificates, and ninsty-
eight millions to secure the redemption
Of banks which have failed or are In liqui.
dation. After all demands against the
Government have been provided for thss
is left . balance Of $12s, ,OOO, 900, which
represents the sum wruug from the people
by excessive and unjust taxation.
When make this statement, SIR, have
said enough to srreet the attention not
only Of Congress, but Of the whole country.
Bat this is not all. Undsr the rates Of
taxation now existing the excess Of receipts
over expenditures ia increasing over nine
millions of dollars per month. To take
from the people this large excess not re-
quired for any ju.t and necessary sxpendi.
ture of government, even If done by just
and equitable system Of taxation, would
be vicious and huitful enough; but when
We remember that taxation Is levied not
upon the wealth Of the country, not upon
It's lands and houses, its bonds and stocks,
its gold and silver, but upon the products
Of labor, as they 70 from production to
consumption, and consumption necessary
to suLtain human eIistsncs; when We re-
member that the burden falls heaviest up
on those least able to bear 1t, and that the
amount required by law is 80 much taken
irom the annual supply that mutt satisfy
tine necessary wants OF life, and tnat the
sum OF the exsct;on 90 required Is equal TO
$47 lO on every 500 Of taxed Articles, 1t Ia
enoagh to ttartle the country and arouse
Il to action.
But this is not all Of the vicious conse-
quences that aow from unjust and eIcss-
sive taxation. Wrongs never 10 alons.
They are gregarious. They hunt IN 6ocks.
This large sum OF money extracted from
the channels Of buslness circulation aud
locked up In the Treasury 10 constantly
lowering the price OF the products OF labor
not protected against comps tition, and while
increasing the demands of the tax Eatherel
1t decreases the ability OF tine taxpayer to
comply with those demands. Every ons
knows that the price Of commodities IN the
market 10 fixed by the amount of money
in actual circulation, and when the circu.
ton Ia dsplsted prices fall, property
shrinks in value, and loans and mortgage,
increase. The load grows heavier on t1e
back of the debtor, and his pathway grow,
darker and his struggle harder day by day
Tnoee who have means, and have heeu
excused from sharing with their fellow
citizens the burdens Of taxation, find tbeir
foI tunes improved, while the les favored
citizen, who must live by his daily toll
finds himself snxiousiy iDquiring how bs
10 to obtain employment aud support fol
him. ELF and thoeedependent on him. De
pleting the channels Of circulation ne. %
sariiy arrest, consumption. Whea ability
to buy tho things thas want requires Ii DO
creasiug the demand for them will .deueNs
In the same proportion, and whom the do
mand decIeHe, the production will cor
respondingly dec1exe. Then employment
is restricted, lAborers are reduced OF dis
charged, and suffering. distress and die
content are teeu on esety hand.
What, then, Is TO become Of the manufsc
turi ng lsborer2 He has NO income 10 draw
upon. II he has, it is . small one hs hs
| laid up with frugal hand, and IL Is soos
gone. He must wander around and hun
employment, and In iu stssd find hupgs
confronting him at every corner. What 1
10 become Of that large body of laborer
engaged 10 carry ing the products Of lsbo
from the producer TO the consumer WheI
roiuction and consumption are restrictet
aI d dwarfedf This, SIR, IL the peril tbs
mensces the country to-day. With tb
one hundred and TWEEN nzy-Dioe millions no,
piled up 10 the Treasury, and with oontfse
ton Of the circulation gosag on Ut the rat
of more than Line millions . month, no,
long will 1t be before stAgnation and deaf
will follow, and bankruptcy aad rli
stalk together through the landf
Sir, tnat n question We must oonids1
II this contrsctlon continues Ut the prsssu
rate it can not be long before The thrss,
ened disaster reaches rs; bot the time Of II
coming meme can TIL IL h enough for q
to know that the country n In . perilcu
situation and that it is Jet In our powT .
svert the perl AEtly and well did u
President In his mesrsgs define the situl
tiou when be ssid it wa not question Z
theury. hut question ofcon5itios. Mt oss
fronted Us. On this side 10 have mads q
honest effort 10 relieve this ooDdition {
afsirs. We have brought before tie Hcua
bill which will lessen the inflow Of mons
into the public treatuD and permit The %
css to remain where it rightfully belooa
in the pockets Of the people. By sxistin
: Il hN tDe oFeIbBe IoSo VI ox8ksoo On ous
: able goods imported u A7.10 On ever
, 800 worth.
The bill now pending, when reported }
the Oommittse on Ways and nssns, r
decd the average rate from $47.10 b ~
But the amendments which have bss
adopted In the Committee a The VIE
have restored 10 the dutiable Hst many q
ticIes which ws had placed up1a ths fr
,, List, ard rsised the duties Co othsf artiei
! which We bad reduced, - that the svsssl
. rsae of duty oa dutisbls rods By The b
3 e. sms nded = now sac On every ~
worth imported. This iANd rsdacttl
7 on the present. average rat0 O sach III
srth IN ported.
The toisl reducfionson The rsvsann q
. rived from imports by ths bin = sDes
4 ed amounts 10 Sc, ,5s1, SO, q which 90
s32 7sl sIe reductions On ths dutish
list md t19, ,75s, ,s45 afs reductions n
. srticles plsc d On the fres ht Thess {
+ mall reduciops, sxeee6ipely maeN.l
yss this biIl ~ bssa sdsna6sd q