The Indianapolis journal., 1888-04-14
Money Is Needed to Carry On the Business OF
the Country, and Transactions Are Linn
tied Because of Scarcity of Currency.
Probable Result of the Short-Sighted
Policy Pursued BY Tariff Reformers.
Great Improvements in Postal Facilities Sc
cured at Comparatively Small COSTA
Fruitless Strike Investigation.
A FISCAL pANGER.

The Treasury snrplus 3 Menace TO the Bus-
iness Interests of the Country.
Special indianapolis JonrnAR
WASHINGTON, April Is. 3.-General Negley. whs
served in Congress several terms from Pitts
burg, has been in the city day or two looking
after railroad and other interests met HIM st
the Capitol and asked him il he thought there
could be any tariff legislation in this Congress,
and he said:
mo, do not anticipate the passage OF any
kind Of tariff bill There seems TO be greater
variety of opinions, if possible, than there was
upon the subject at any time while 1 was in Con-
gress. The opposition to the Mills bill appears
to be more general and determined than that
against the consideration of the Morrison BILL
which never had any chance of success. Ths
country has been educated up to a higher point
of tariff projection continued General Negley,
than the most rabid protectionist hoped tor
few years ago. But there is another very serious
objection, and that is in the matter of revenues
which are accumulating in the treasury. They
should be distributed by public works There
ought to be surplus, because the money
should be distributed, as fast as it accumulates.
by improvements which the country greatly
needs. This deadlock. which you have been
experiencing in the House several days, is for
the purpose of defeating reduction OF the sur
plus more than anything else and Tor that rea-
son. the people who have been conducting 10
cannot justify their position before the country.
/ am in New York most of the time, ana know
many of the brokers and bankers there They
tell me that they have never known business to
be SO fiat for many years. There is no money
being put out for long periods 1t is all, or
nearly ALL on call loans, which indi-
Gates that the moneyed men are holding
themselves in readiness for panic, should
there be any stringency ia money matters. The
stock and grain brokers tell me that their busi-
ness has fiattened out till it amounts practi-
calIy nothing. People ara afraid to deal. The
orders come in in small mum bers. and are for
email transactions. What ueed is to turn
loose Atty one hundred millions OF the money
now locked mp in the Treasury. 1t doesn't make
any difference how 1T Is given out, SO 1T goes 20
the people. The circulation of 500. 000. 600 of
the money now In the Treasury during the next
six or twelve months would give business an
amazing impetus. If il was paid out through
the direct-tax bill it would be good as IT given
out thr ough any other channel. The distrou-
ton of 500, ,O06, 900 ought not TO affect tariff
reform, and that is where the reformers are
short-sighted. They are strangling all kinds or
legislation anticinating appropriations. with the
idea that appropriations mean the throttling of
the Mills bill 1t looks though there would
be s;ipting of the surplus and . defeat OF tariff
reform
asked the General what he thought OF Presi-
dent Cleveland's scheme for re-eiection
ssThe President" replied the General. shas
committed some bluuders which put him in a
very bsd predicament. His vetoes and his de-
termination to defeat all kinds OF legislation
which reduce the surplus. in the interest of free
wool, and blow at the industries and labor.
form veIs bad record for him. ] cannot see
how he justify his case when the manufact-
ursrs. mechanics and laborers demand an ex-
PLANTATION, and this he must make before the
people come TO the polls next fall, or bis defeat
Will be overwhelming that the party cannot
he resuscitated. In all of the acts of the Presi-
dent caunot recall a single instance whore he
has done anything intended to stimulate buSi-
ness help labor. have idea who the Re-
pnb.irans will nominate, but pretty conf
Cleveland