Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1888-10-17
NEW YORK DEMOCRATS.
A GREAT DEMONSTRATION At THE
METROPOLIS YESTERDAY.
Twenty Thousand Business Men in Line.
land and Thurman-Speeches by Secre-
tary Fairchild and Speaker Carlisle
Reducing the National Debt-Repub-
ucan Mismanagement of the Finance.

tary Fairchild and Speaker Carlisle
Reducing the National Debt-Repub-
ucan Mismanagement of the Finance.
New YORK, October 13.-There was big
demonstration of Cleveland and Thurman
downtown business men, this afternoon.
and the meeting before the subtreasury in
Wall street and subsequent procession up
town were fully equal to the hopes of the
managers.
Secretary OF the Treasury Fairchild was
| the first speaker. After asserting that what
was good in business way for New York
| was good for all parts of the union, and
what was bad for New York was bad for
all. Secretary Fairchild said: "By the
force of untoward circumstances, the office
which happen to fill is one Of the most
important factors in the country's busi-
ness, It is not right that this should be
the case and I believe another term OF
Democratic administration, with Con-
gress pledged to support it in wise meas
ure, would
''REsULT IN SUCH REFORMS
as would substantially eliminate the
Treasury Department from your affairs,
thus ending the abnormal condition which
has within it the possibility OF causing
great injury to legitimate business and
great wrongs whenever the head OF that
ldepartment may be unwise or unfaithful."
| Discussing the condition of the Govern
| ment's finances. Fairchild said: I'm some
quarters the fear has been expressed lest
trouble should be caused when the Gov
ernrnent might suddenly withdraw it's de-
posits. can imagine no state OF affairs
under which it would be necessary to DO
this suddenly. The amount thus depos-
tied is now about $57, 100000. Look at
the last statement OF assets and liabilities
and see il the Secretary of the Treasury
ever need suddenly call for this money, or
call for it in a way
TO CAUSE EMBARRASSMENT
to the general business. "The Postoffice
Department, the account OF the disbursing
officers, the balances. treasurer's transfer
checks, drafts outstanding, interest due
and unpaid, matured debt, accrued inter
$54, 100000. ''' "''''' ~ '
This sum always remains nearly con
stant. Hence about that amount must
always be kept on deposit to meet the
| has been set apart for all these liabilities
and for every other liability OF whatever
, name or nature, against which the mos,
, forced construction of the law could re
ouire cash to be provided, there remained
a balance of 500, ,444, ,S45, and in addition
! to TIL at $24, ,S45, 800 of subsidiary silver
or in all $121. .29O, $50. :,
"Mind you, do not defend the deposit
OF large sums OF
Q GOVERNMENT MONEY IN BANKS.
D It obiectionably mingles private with pub
. lie business. No one can disa4Prove OF thl
more than do, but it is due to your wron
condition of public revenues. The onl.
choice is choice of evils. I maintain tha
q the administration has chosen the Jesse
n evil. l claim, on the whole, that this per
plexing business has been well and prudentl
; managed. The secretary then explained nj
b course in buying bonds and said:
"Up to the first OF this October all Of tn
per cent bonds outstanding at the begin
a ming of this administration, $199, ,19O, 90
have been retired and. in addition, $Sl
l293, ,24O of and AZ per cent, bonds, or
all, there have been applied to retiremen
and purchase bonds with premiums $3.50
10 924, ,51S. And the total interest-bearln
j. debt appearing in the September deb
statement, is under one thousand mllllor
Mark YOU, this is the first time in geners
r ton that it has not taken ten figures Z
d express it, and this General Harrison
le CALLS NURSING A SURPLUS
l. s.If all the Republican secretaries had bee
c. as wise as Secretary Window, all our bond
would now be subject to call, and the who
h national debt could be extinguished in abor
If eight years."
t. The secretary further explained his theor
W as to the conditions OF supply and demand
10 in buying bonds.
20 CARIdsLE's REMARKS.
He was followed by Speaker Carlisle, VIII
declared that one of the most beneficial T
suits of the last Presidential election We
the establishment OF harmonious relation
III between the people of all parts OF the cou
try, especially between the North and IL
of South. The North never had SO good
be market in the South as now, and the Sou'
in never had the use of SO much northel
capital as now. Four more years OF Clev
W lands policy would make it impossible II
Id any political party to secure power by
st pealing to sectional preiudices. He co
he sidere this alone sufficient reason Il
,d Cleveland's reelection.
'~
0s making a determined effort to revive ra
at preiudice in the South, and with an EMO
to alarm capitalists and discourage invet
at ments, in order to make it appear that t
country is not prosperous under Dem
~ cratic administration. In this they a
oil, partly successful, but the country is pre-
IN perous, nevertheless, and in spite OF the ia
nd that it is embarrassed by the Republics
of revenue system, which resulted in
HEAVY ovERTAxATIoN.
The Democratic party would not conse
ng- to reduce the revenue by incoming ta1
on necessaries as proposed by the sens
M tariff bill. This bill, he said, claimed
Ire reduction of about $4,000, 900. OF Il
a nearly S2S, 900, 900 reduction is claim
ad on sugar, leaving only $S,O00,O00 on
m other articles OF which nearly
1as whole amount is claimed to result, I
from reduction but from increase OF duti
This increase, through being prohiblto
might reduce the revenue but would I
of reduce the cost of articles consumed by
people, but on the contrary would incre'
au it. What is needed now is a judicious, g
md stantial reduction OF the revenue, not
O increase of taxation but by reduction
taxation upon the necessaries OF life,
rnon M otoriala used in our industries,