Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1888-09-27
TARIFF AND WAGES.
Speaker Carlisle Discusses the
Topic Of the Day.
Why Tariff Reform Would In No way In
Jure American Industries = The
Dangers of . Treasury Surplus
and Excessive Taxaflon

Dangers of Treasury Surplus
and Excessive TAXATION
Speaker Carlisle was for the seventh
time renominated for Congress at Coving-
ton, KY, the other day.. After thanking
him, he spoke thus about the effect of the
tariff on wages, the Treasury surplus and
kindred matters:
Mr.. CHAIRMAN AND GENTLEMEN OF THE
CONVENTION: / scarcely know in what
terms to thank the Democracy of this dis
trict for its action to-day. Twelve years
ago was nominated for Congress in this
hall, and since then the Democracy of this
district have chosen me six times in sue
cession to represent them in the House of
Representatives of the United States No
man could be insensible of such devotion
on the part of his friends, and / assure
you, gentlemen, that feel most profound
1y my sense of gratitude and obligation to
you and the people whom you represent.
(Cheers.1
l accept your nomination and shall en-
deavor to meet as many Of you as possible
between this and the election, although my
duties at Washington prevent me from
giving much attention to my own district
not only accept your nomination, gentle
men, but indorse to the fullest extent the
resolutions you have just adopted, except
that part of them that relates to me per-
sonally. IApplause.l
The great question before this country is
the question of Federal taxation. 1t makes
but little difference whether I am elected
to Congress or not, but it is of overwhelm-
ing importance to the people that the next
House of Representatives should be Dem
ocratic Tapplausel, and that the next Presi-
dentshould be Democrat also. [Cheers.
The two political parties have nominated
their candidates and made formal declara-
ton of their principles, and you will be
called upon next November to decide be-
tween them The Republican party has
chosen as its standard bearer Mr.. Harri-
son. respectable lawyer of Indianapolis,
for President, and for Vice-President,
Levi P. Morton, very rich banker in
Wall street. The Democratic party has
selected the true and tried, the incorrupt-
ible President who now fills the chair, the
man who has brought the Administration
back to the ways of the constitution, and
given TO this people clean, conservative
and faithful administration of the law.
[Cheers.l With him they have associated
Mr.. Thurman [cheersl, who for many long
years has been the best and truest repre-
sentative of our Western Demo cracy.
But it is not, gentlemen, my purpose to
make speech. Many of you want to return
many of you are anxious foryour dinner.
i want to call your attention, though, to
the overwhelming Importance of the great
question which is now presented for the
decision of the people; and I congratulate
you on the fact that at last, after many
long years of struggle, we have got this
question fairly and sQuarely before the
people. TCheersl 1t is declared in the
Democratic platform that unnecessary
fox Sc ,r1f fov av,A Nv hat
declaration the Democratic party will
stand or fall in this contest. When Presi-
dent Cleveland was inaugurated, on the 4th
of March, 1855, he found on the statute
books laws passed by Republican Con-
crosses under which there was being an
nually collected from the people nearly
800, 100000 in excess of the actual
necessities of the Government He
found q large surplus accumulated
in the vaults of the treasury, and that
all the public debt in control of the Gov
eminent, except about 1896, 600, 600 of s-per-
cent. bonds. had been paid What was to
be donea Year after year some of US have
struggled in the House of Representatives
to secure reduction of this enormous
burden on the people, and have predicted
that the time would surely come when this
money would accumulate in the public
Treasury to such an extent as to paralyze
all the business enterprises of the country
and bring ruin and disaster upon our in
.dustrtes and all engaged in them.
We are not responsible for the existence
sof these laws, but we felt, as the repre-
=sentatives Of the American people, the re-
sponsibility rested upon US, in some meas
ure at least, to see II it could not be rem
edied. We failed. The money went on
accommodating ia the Treasury at the rate
of 10000, 600 per month, and is still aoe
cumulating at that rate. The Secretary Of
the Treasury told me just before left'the
City of Washington that the surplus rev.
enue collected during the first fifteen days
of the present month, over and above the
expenses of the Government, was 81. 00O,-
600 At the rate of several hundred thou
sand dollars every day and night the
money of the people, money which they
need in their business, is being poured into
the public Treasury where it is not needed.
fCheers.l
To relieve the Treasury of this enormous
amount and to prevent disaster to the bust
ness of the country the Administration is
compelled to purchase the outstanding
bonds of the Government at an enormous
premium. Within the last few months
$1,000, 600 of these bonds have been bought
at premium on the per cents OF some &c
70 CSC. on the dollar, and on the 412s at &C. &c.
and &C., so that the bondholder is, by rea-
son of the unfortunate situation in which
the revenue laws have been left, taking
from the people millions and millions of
dollars in excess of the amount which his
obligation calls for, and our friend, Mr..
Harrison, in his recent letter of accept
ance, says that this process should so on,
and the money should continue to be paid
to the bondholder. Mr.. Sherman, the for
mer Secretary of the Treasury, takes sub
stanially the same grounds, and criticises
in harsh manner the action of the pres
emit Administration in depositing part of
this money in the National banks SO that
it can be loaned to the people and go thus
into the channels of trade. The records d
the department will sustain the statement
that while Mr.. Sherman was Secretary OF
the Treasury he had at one time in a sim
gle National bank more money than this
Administration has to-day in all the
National banks of the United States
ICheers.
Now, the great question you are to de-
eide is whether this system of taxation
shall be continued indefinitely, or whethe.
the country will return to the methods OF
taxation which prevailed In this country
before the war. For the first time In the
history of this country, 30 far as know
the Republican party has substantially de
clared in its platform In favor of reducing
the revenue by increasing the taxes. APP
plsuse and laughter It declares that i
deems it necessary to reduce the revenue
by checking the imports of such articles
as can be made here, and If that is not sui
flcient il will repeal the whole interna
revenue tar on whisky rather than sur
render any part of the protective ysten
This proposition is put forth upon the ides
that the people of this country can be ben