New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-09-18

,.. ssVy IA p.q Sss.na. w' .y T:a''s
coast defences TO- protect ourselves agaanst ~v,s"
ssrs. Il not also wise to protect citizens r.
the ordinary avocations Of life! How much does ~
S Sron ev S : on our
sulfcr want II industries are broken down. .r Uy
ss ass 'a% csss Of rso sfSns 81
ment aud ought to Be encouraged but II IL surely
should DO well fed, clothed and housed
A GLANCE AT THE TARIFF SYSTEM.
II Is not necessary tonight to 90 into lengthy
discussion upon the mcrits OF protecuVe 'an"
systcm as compared with free-trsde system, or
that system called tariff for revenue only DO
not generally care to deal In theories; they are
we'll enough for the classroom, the review, the
ssrs to bring forward tho theories Of either tho
.; history during he arst Century ., their exist
~ sS have charge Of tho admnistrson Of our affairs
to give some attention 70 that history.
..a 0f law, n' which ~ss passed and signed BY Inc
Father Of his Country. Cheersl II gave fair
Ssn. Of vsS sSn as s
result Then came the of lsl2. OF course,
upon the importation Of foreign goods. Our country
sTew in prosperity as IT never had before. In 1915
duties reduced to what called revenue
basis. Great distress was the consequence Bank
tsria system Henry Clay. was at the fIont--we owe
protective tsr law Of that year WAS put upon the
statute books. Great prosperity again came to all
THE POWER OF THE SLAVE HOLDER
That system was improved and strengthened by
tho legislation in 1894. Our prosperity increased,
but another power had been growing UP in this
ty-the power Of the STAKEHOLDER. He saw that
II was not for his interest that the protective tariff
p was passed what was known as the compromise
tariff South Carolina refused TO be bound by the
laws Of tho United States and threatened to nalfy.
and the compromise tariff law was passed Duties
greatly reduced, at the rate OF per cent per
annum until all should be brought down TO revenue
basis There was then small surplus os In al. the
II was proposed 10 divide II among the States But
before the compromise measures of '32 and S3 had
down; The revenue fell of. the surplus disappeared.
In 1910, under the leadership Of an earlier Har.
protection. The Industrial condition of the coun-
try Immediately began to improve But IN IA the
maintain tho tariff system Of 40. But instead it
usual results u focwed In 1861 the Republican
party control and at gave us protective
s gss of T so eo as result Il yS Ss all iaS1
s s a al. a' Es 'T'h sS s prosperity q:
not necessary, but Il is necessary that the
S rsors vs. o o s s
only should be able to provo ccnclus.vely that u
4a e s sdns seaG nspSs' aq Rs
then NJ am With ther for change, but until they
man. ' tLeD have simply to say in the language
Of the old proverb LEI we'll enou Sh alone S,h DO
s;ss,ciior bccaus. we have surplus that unless we
brrak down tariff system and change our laws
and Ii The comcrcc and Industry Of the country de
d siieycd. ,,ro "a
I.mty We have been collecting vast sums OF money
since the breaking out of the war We have PaA1 hr on
treds OF millions Of dollars in pensions to cur socers
tArpisuse1 And we PROPOSE before any Serious r, r
ihat the just claims of the men who wore the due
ircrcwcd appiausej shall be met in null
THE MILLS BILL HAS MORE THAN ONE OBJECT
let me tell you friends that the Mills bill has more
than one object view: II is not only TO break down
our industries 1t Is not only to give us free trade
but It IS 60 so derepish the Treasury of the United
States that from tho passage OF that bill our GoVern
ncnt VIII DO unable to give another dollar TO the SOL
clcr Cries Of That's so,r and hearty cheeringl
Bu, there is no difficulty in handling this great sur
plus and there difficulty in reducing our taxation
In such moi 10 disturb or destroy our mans
surplus whether il was one hundred hundred
and nifty millions per annum IL used II nrst D! pay
re is No fear that there Shall be any surplus in the
Treasury over aud above that which II is safe and
proper fer great Government like ours 10 maintain
years ago il found surplus of bow muchY l know
@ sndTeS o nave e Ss s
"a but they found there only surplus Of
honestly collected the taxes; had honestly admins
tered the affairs OF the Government and 1t had us1-
from month to month all the surplus that came In, IT.
ducng the public debt and stopping the Interest
HOW MONEY IS LOANED TO THE COUNTRY.
This Administration has loaned sixty millions Of
money to the National banks Of this country without
interest to this very day. The Secretary of tho
Treasury has absolute power under the laws 10 buy
bonds and cancel them from week to week.
thus paying out the surplus told you in this hall
two years ago that the Administrator intended TO
keep the surplus accommodating, so that Il should be
threat to our commerce ard Industries, in order
that they could before tn, people and say Be
NOT MOI" cSaSgs Your srs laws and stop Ills accumua
ton win ruin all your ndusiries' That has been
policy would be to pay OUT the money and can in the
are prosperous Since the latter Of last year
The President and the Secretary of the Treasury have
refused 70 buy bonds q, all except patry Kindred
thousand dollars at time sometimes less bni now
three to SIX millions time within the last few day(
s pn 1cy o money into The ' MARKETS.
speculative period and movement, and OF
and Your affairs In good condition.
HOW THE SURPLUS HAS BEEN UTILIZED
Chairman White here interrupted Mr.. Miller
with the statement that bonds are bought now
at four per cent, dearer than they could have been
obtained six months ago. whereat the evidence
burst into chorus of approval. showing that every
man present heard and understood the point.
Mr.. Miller, resuming dwelt upon the judicous
manner in which the Republicans, when in power
utilized the surplus, aud laid special emphasis
on the fact that they never allowed any such
amount to accumulate IN the Treasury as is there
now He continued:
We were told BY the President last December tina,
pep montS or thercsSous and that for the year il
would amount TO $500, 100000 But suddenly, when
this Democratic Congress had passed its appropriation
bills they woke 10 the fact In Washington that in
stead Of there being that amount of surplus for the
ensuing fiscal year that there would be surplus OF
less than twenty millions of dollars That one con-
dition Of affairs alone ought to DO enough TO condemn
TIE Democratic party and drive IL from power loud
spplause), for a party thus unable to sec month
ahead In simple matter of ar thmetcai calculation
Is moi III 10 be trusted with tho execution of our
revenue laws. CRenewed applauso
They charged the Republican party with fraud as
veil A. extrayagance During the four years OF this
Democratic Administered they have appropriated