Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1888-09-07
OF WASHINGTON COUNTY.
FACTS ABOUT THE SURPLUS.

In statement issued by Mr.. James w.
Hyatt, Treasurer of the United States, under
date OF July 31st last, there was then in the
hands of the Treasurer an actual surplus,
including fractional silver coin, $l32,5l7,-
751 3d. In addition to this amount, accord
ing to the same statement, he held 9,064,-
$50. SO ITO cover accrued interest on bonds !"
$i3,6O7, 1906. 80 80 meet disbursing officers
balances, &c; :" $780, FAC, $3.50 3S "lor redemp-
ton of notes of national banks failed, &c. !"
100000 100000 preserve for redemption of
United States notes."
In short, the Treasurer of the United
States had in his custody on the date men
toned, in money, $732, ITO, 52776, against
which had been issued in gold, silver and
legal certificates to the amount Of $3.50 ,S44,
791, leaving 1881 900, 1856 in his hands, of
which $132, 100000 was clear surplus.
DO the people know what this clear sur
plus means? 1t means that the government
has collected out of them by two fold sys-
tenn of indirect taxation this vast SUN $780,
500O00-more than it needs for all purposes
Such a thing could hardly be possible under
any other government. Even the "effete
Monarchies" would not dare to collect from
their tax. ridden subjects $130,000000 more
than their necessities. The crowned heads
would not feel sale on their thrones If they
should undertake to perpetrate such gigsn-
tic piece of injustice. Yet it is done in free
America, and strange 10 say, so far from
producing spirit of rebellion, nearly one
half OF the body polite endorse it and pro-
the Republican party in brief. They say in
effect, spend--in other words waste-the
surplus and keep up the taxes; nay, make
them higher if need he to give American
manufacturers a monopoly OF the American
market
But the Democratic party, or the true
friend aud champion of the people, contend
that an unnecessary surplus is public evil
and should be abolished, and that the right
way to abolish it is not by spending it in
wastefu and extravagant appropriations, but
by removing the cause which produced 1t.
The cause is the two fold system of indirect
taxation above mentioned, and the policy
of the party as embodied in the Mills bill,
is such modification of tariff duties and
repeal of such internal taxes as will leave
the government an ample revenue for all
legitimate public purposes and more.
Can there be any question as to which
party will win in contest of this charac-
ter? There ought not to be.
The Democratic party does not propose
to deprive American manufactures of their
complete control OF American markets. So
far from it, it proposes to place them in a
position to secure control of the markets of
other countries, from which they are prac-
tically shut out by irrational and impoltic
tariff laws. Some of our most important
manufacturing industries, notably the wool
en- industry, are now languishing because
our manufactures are placed at a disadvan-
tage as against English manufactures in the
purchase Of raw material. The Democratic
party proposes to remove this inequality by
admitting wool free of duty, while retaining
the tariff on wooden goods, and il has the
testimony of scores of wooden manufacturers
that this modification, while it will result
in giving the people large cheaper cloth
ing, will enable them to compete with for
eign manufactures In any market, and that
under the impulse thus given all idle mills
will start up and thousands of skilled opera
tives now out of employment, or working
on half time, will have constant and profit.
able employment,
The right way is always the best way,
and what intelligent man, with the light of
these facts before him, can say that the
Democratic way of abolishing the surplus
is not the right way? That it is the right
way, and the only right way, is recognized
and frankly admitted by many fair minded
and well,meaning Republicans.
Congressman Fitch, of New York, in
publicly Withdrawing from the Republican
party, gave as reason that he was in favor
of reasonable revision of the present tariff
in the direction of the cost of necessaries of
life and OF supplying American workmen
with cheaper raw materials for manufac-
ture. This is ringing "keynote" that COM
pletely browns Mr. Blsine's blatant "key-
note" in defence of trusts.
4 III