The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1888-12-14

~Lh Ak~Ee'
N lN present fiscal year,
~ z...1setuai and estimated. :. sss-
Secretary Fairrk1d. Vo.0o; exPendi-
lures. <sss.OO.0o. For the next fiscal
year he estimates revenues amounting % |
Sgs7.000,0oo, and expenditures about >-st
Ooo,0O. After presenting this financial !
exhibit the secretary. briefly, and IN gen
eral way, gives his attention % the qnes-
lions Of surplus revenue bond purchases
and reduction Of TAXATION he caicuiateS
thaf unless the laws are changed the
present surplus, together with what VAL
accumulate MP 10 the close II the fiscal |
year ending June %, $50. will aggregate
fullv Ssss 100000. or sufficient 20 redeem
all the outstanding four-and-a-hat per
cents. now amounting 20 <lr>.Vp.oo-
which mature in 1891. The principal 81 |
the four per cents. outstanding Is nov
snsO. Coz. coo. and the interest which would
accrue upon them until maturity in 1871
4 about xoo0oo.o0o. and so. present sur
plus revenues. II continued. would pay
before 1900, all Of these four per cents
Nothing more. the secretary says.is need
ed than this statement % show the nb<o-
lutte necessity q readjustment Of the
public revenues at the earliest possible
date. That il will be necessary 20 pay
nearly the whole Of the interest which will
accrue upon the public debt II an attempt
q made to invest the present surplus rev.
enues In il before its maturity. il evident
from the fact that even now the Govern
Uenf is paying for the four and a halls n
= price which realizes only about one and
half per cent annually and re-
ceives only meager offerings At thar
price. To continue taxation with
NO other use for its proceeds
that such an investment is q cruel waste
Of the peoples money, and II this over
taxation Is not stopped and II the Govern
ment Is forced - continue - be a pur-
chaser OF its own bonds af the holders
price. the loss 20 the people must be hum
dreds Of millions
81 can NOT the secretary adds. .-foo
strongly repeat my Recommendation q
last year 70 reduce taxation. and as far a.
possible. wislreut TOO sudden disturbance
Of existing interests, 70 make this reduc-
ton In cuS>sms taxation, 20 the end that
the people may gps the greatest
possible benefit from the reduction
Beside the vexed economic ques-
ton as 10 whether country can
make itself prosperous by . tariff
whether il can increase the relative aver
age comfort Of It's whole people by divert
ing portion Of its labor and capital from
the employments which could be most
probably followed under natural condi-
tons. thereby makirg certain ~ the Nee
essaries Of life more costly than they would
be otkerwi<e--fhere j. a higher moral
question which may well be asked. and
that u. Can a government be kept pure
and free which through the agency Of its
laws. offers vast rccnniary temptations 70
some kinds Of businesss
sTsere are many indications that this
question must be answered in the mega
tivs. There are many proofs that large
classes of our business men have come &C
depend for success on Their skill in manip-
ulafing governmental agencies rather
than upon industry. intelligence and hon
oFa1le competition. l. il not possible
that eagernes< fer the money which men
assume comes q tnem only throu-is the
Government. may lead them 90 use an
erg-growing pre- portion Of their gains %
possess and influence the supposed
source 81 their wealth. and will
not the endeavcr % make men
rich soon become the chief fnnrtion Of our
Governments l. not this already the cAses
n these dangers exist II they are not
opwrestimafe,l- and they do exist and are
n~ oyerestimat<d-thrn can IL BE- doubted
that the true welfare Of cur people calls
fW the rescue .sf the Government from
1brm as speedily as may be- This can
only be done by severing government
frtm private business Steps should ~
oEre BE- taken in that direction always
hswever. let M repeat. bearing in mind
Shr interests whrch have beome establish
ed under present laws a. the end that they
10y mot suffer nnduly while benefccnf
reforms are mafe-v
On the subject Of silver coinage the
secretary reneus his recommendation Of
lar year: That II fixing the maximum o.
SILVER which shall belong 70 the Govern
lent. and BY providing that when il was
ezseeded by Ss.0o.0o. the purchase Of sil-
ver bullion should cease until the amount
49, "a BY the Government should be again
rehsced 70 such Hiaximum.or BY cancelinS
Uzked States ns;es 70 the amount Of the
exosss over the maximum provided the
Osp rnment held the notes: II not. then By
ceaong the purchase Of bullion. such
p1nR- II adopesi. would provide
eafee valve Which would Be SELF
operstive, and u<nld assure the coun-
~ against any possible danger fron
anouCf which couId be absorbed in Tie
busiD<s = q the country. IL would begin o
low Into the treasury In payment of
taxes xnd would b there held until bu<i-
ness ezAlled For il, III when the Govern
menfAs-< wncrship f<1i below the maxi
mum, &c purchase ~ The bullion would
again brrin- Thus tk<.country'< business
demand would reg.fssfe the country's
silver <-f~<Is1nffnr, and 1Errp wuu11 - liz