The Odessa herald. (Odessa, Del.) 1888-1892, 1888-11-03

trusts of the peoples money for private
purposes. ! will give another instance
Of the administration of the Treasury
Department, equally offensive and
equally aggravated. As an aid to Mr..
Carlisle in his extremity, the Treasury
Department has placed special deposit,
whish is in the nature of loan without
interest, in all his city banks at Coving-
toh, four in number, the depositin each
Of the banks exceeding 5000, 900, and
aggregating nearly, $500, 1000. If there
has ever before been an abuse of that
character known to the Treasury Of the
United States, desire some gentleman
competent to instruct the public to make
1t known. (Cheers.) If there be any
parallel to the use Of the public money so
scandalous and so cof'rupting, desire
that may know 1t and apologize to the
Treasury Department for afraigning
them as the first who have ever entered
upon policy of personal favoritism
at the expense of the public treasury.
(Cheers.)
But on d larger scale, and as between
Communities rather than individuals,
look at what the Secretary has done. He
has placed in the State of New York, In
banks of his own selection, nearly thir-
teen millions of dollars Of Treasury
funds, aud in this great Western body of
States, comprising Illinois, Michigan,
Wisconsin,; Minnesota, Iowa, Kansas and
Nebraska, with double the population of
New York, and in special need Of ready
money at this time, TO move the crops
forward to market, the Secretary has
given little over five millions; the rule of
the Secretary, apparently, being that to
d State of political importance to the
Administration, thirteen millions are
given, and to seven States, with double
the population, that are hopelessly Re-
publican, considerably less than half that
amount. (Applause). Such political
gambling and personal sporting with
funds of the common Treasury of the
people OF the United States have never
been dreamed OIL. before in this country.
Think for moment, if any man had
proposed law that, with all balances in
the Treasury beyond the immediate re-
quirements of the Government, the Sec.
retary might loan them, without intesest,
under the guise of deposits, to whom he
pleased and place them where he pleased.
Was there ever Senator or Representa-.
tive bold enough to vote for that mea.
sure9 And yet it is precisely what Secre-
tary Fairchiid is now doing with the
surplus in the Treasury. (Applause).
FALSE PRETENcEs ABOUT TARIFF AND
SURPLUS.
Sixth, lastly, the Republicans arraign
the President for deliberate attempt to
destroy the protective system of this
country by using against it as an argu-
ment its tendency to produce surplus
in the Treasury, when not one dollar of
surplus would be there if the money had
been lawfully expended in reducing the
public debt, instead of being loaned out
to pct banks and for the benefit of politi-
cal favorites The friends of the Presi-
dent, apparently authorized by himself,
pending his election, gave the people Of
5tTs 5iRted .Srates i E)gc thaB the
Democratic party would not, during his
administration, assault or endanger the
protective tariff. 1t therefore came upon
the people as genuine surprise when
the President charged the protective
tariff system with being the cause of the
surplus, which had been industriously
accumulated to the neglect of grave
duty, as have described. (Cheers.)
The preteuce that there was no au-
thority to buy bonds at premium was
long ago exposed in both houses of Con-
gress, and the people now see that money
loaned for an indefinite period to Mr..
Jordan's bank in New York, or placed
in the. Covington banks to aid the cleo
tion of Mr.. Carlisle, ought long ago to
have been used for the purchase Of United
States bonds and the reduction of the
public debt. (Cheers.)
In my judgment, the people of the
United States arc not to be hurried into
free trade by the panicky cry from
President or { ecretary. Too many
great interests are dependent upon it; in-
terests of capital and labor. interests in
the East in the North and the South
great interests common to the whole
Union. / shall not tonight argue the
question further than to arraign thel
President for precipitating it in an un-
precedented manner, and for having
used extraordinary means to create
prejudice against the protective system,
and with delusive arguments to COM
mend the destructive theories of free
trade to the people. When understood
by the people, the Presidents method of
approaching the question will strengthen
the cause of protection and not weaken
it, and will, in my Judgment, in the end
prove one of the potent causes OF his de-
feat at the approaching election. (Tre-
mendous cheers