Alma record. (Alma, Mich.) 1878-1928, 1888-10-12


for less fror those bankers-there is S.,
100000 gratuity given away by the presi
y a eut and the secretary of the treasury In a
single year. Did YOU get any of III Did
/ youi = PIP se you had $4,000 OF govern
ment b lnds and wrote on 10 the secretary
of the treasury that YOU would like TO have
him loan you 10000 without interest anC
take your b nuLis and keep them for 20 anC
I send the coupons back wden they were
due. | do not know any better business in
this world for q man To engage in tan L
loan the government money and pay M
interest on II and collect al tie interes
you can get and put it in your
pocket. Why, any fellow can get rich thai
way And ! read this morning that the
chairman of tie democratic national com
mites, avery bright and shrewd and quick
man, has million OF the surplus in his
bank Well, htat is worth $4,000 "A year
Why, IL anything would tempt man TO be
chairman of tho democratic national com
| mittee | should think so, 900 would go lit
| tie way toward il.
Still further, Mr.. Chairman, when there
was danger last yesr and the year before OF
| a stringeucy in the money market and toe
little in circulation, there was movement
made in congress tC.allow the existing ma
| tional banks 10 circplate on the bonds they
| have deposited up 10 par, instead Of being
| confined to 30 per cent as they now are by
| law, so that op every 1000 of government
Il,
bank circulates only $4,000 of bills. The
democrats defeated the proposition, and
yet in this gratituitous distribution Of the
sixty odd millions Of dollars, Secretary
Fairchild and president Cleveland, both
answerable alike, President Cleveland pri-
marily, have allowed 10 TO the national
banks instead of 90 That is, if any one of
| the pet banks brings 500 of bonds TO the
treasury, the bank will get 81 900 in money.
Now, l have known something about the
government OF the United States. l have
had some little TO do with it; and know IL
that had been done any time within the
last quarter or century by republican
secretary of the treasury, the democrats in
the house would have tried to inpeach him.
| repeat il. i do not say that / would vote
TO impeach Mr.. Fairchild. That is anoth-
er question. But, i repeat, If any republi-
can secretary since Salmon =. Chase, who
was first appointed by President Lin
coin, had done with sixty odd millions of
the public money as Secretary Fairchild
has done, say that democrat house. if in
power, would have moved his impcach-
ment.
If that money had been used TO reduce
the public debt by buying bonds of the
government, you and / and every citizen Of
the United States, now living, or yet to
come, would have the advantage of it; and
have reckoned hastily that if the claims OF
the 2O3 pensioners that were stopped by the
veto of President Cleveland had been al
lowed and the pensioners had been paid
and had all run for 20 years. the total
amount of that inestimable relief to those
poor sick and sometimes starving families
OF soldiers who barred their breasts for your
country and niHe, the whole OF them
would not have consumed one-sixth part of
the money which the favorites Of the treas
uPry department Jv.ll receive in single
year from the interest OF the money that is
loaned.
Now, do not wish TO characterize this
act any further. It's description is its
Characterization. | wish TO do no more
than to state the facts, and l leave their
further consideration and treatment to the
country The president of the United
States has now 10 answer before the people
of Michigan and the people Of Maine, who
are going 10 pull together in this great
national contest. must decide whether the
surplus money of the United States would
not better 90 for the relief OF the poor and
suffering among the union soldiers than TO
enrich democrat bankers in Wall street,
who feed and fatten upon your money and
mine.
MIR Blaine was followed by Gen. King
and w. G. Doane, and in the evening anoth
er immense audience gathered TO listen to
addresses by Jacob Kemble, w. G.. Doane
and Richard +. Guenther of Wisconsin. We
give the address of Mr. Guenther in full:
i
eral politics but on "A business proposition.
Wherever we go we hear people talking
about the tariff, because they feel that il is
the great issue in this campaign The re
publican party has always been in favor of
protection for two reasons. IL wishes TO
raise money for revenue purposes, and to
protect our manufacturers from foreign
competition. The democrats want to throw
this country open TO competition, no matter
whether you call their policy tariff reform
or tariff for revenue only That is the diff
ference.
You have all heard Of the Mills bill. You
all know that the tariff was thoroughly re-
vised in 1888. What then ia the use of re
vising il now! The farmers, the manufac-
turers and the laboring classes have not
asked for IL. Only the importers in large
seaboard towns or mugwumps asked for il.
Mugw lmps never liked the protective poll
cy of the republicans. They elected Cleve-
land, and he knows it. Now they come to
him and ask for their wages-a revision OF
the tariff. They are importers and they
want to import more and make more money.
Democrats never like a surplus. When
we came into power in 1851 we found sur.
plus of 90 cents hidden in "a corner under
some dust. We left the Democrats millions
| Now, in order TO meet our outstanding obi
cations we must have an annual surplus OF
| $50, 0O0. 900. We want TO be able 10 pay the
| debts which democrats have made as they
fall due. How can we do that, then, with
out this surplusi
| 1t is not necessary to let this surplus lie
| id G, nor as Mr.. Blaine said this afternoon
| is il necessary to turn sixty millions Of il
over 20 the national banks. But suppose
these national banks can chip in literally
for the campaign fund. They have made
| money and c N Oxford it.
Mr.. Cleveland says that reduction Of
| the tariff will reduce the surplus j don I
say that Cleveland knows great deal, but
he ought TO know better than that TAKE
the manufacture of wood pulp for example
Up TO 1883 the duty on wood pulp was 20
but In that year IL was reduced TO 10 pei
cent. In the four years from lSS0s3 the
Importation Of this article was S76,111, bu
after the change was made the volume o
| lmportations were IL times greater and thu
| revenues 10 times as much. This exampl,
is sufficient TO show that decreased tariff
rates do not decrease the revenue, and tina
| Cleveland is wrong.
President Cleveland seems to draw oil
his imagination whenever he talks abou
the thrift. In his message TO congress h
said there were 1000 articles on the dutiabl
list, while the fact is that there are onll
11l2. That's IA near az he ever gets TO tn
truth when he ,lks on this sub ect
The men who framed the Mills bill di
something never before heard OF in tn
parliamentary history Of this country.