Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1889-09-26
The Difference.

Our readers can not have forgotten
how bitterly Cleveland's AdministTa-
tion was denounced by prominent Res
publican politicians for boarding up the
money in the Treasury. He was charged
with creating stringency in the money
market for the purpose Of forcing q re-
duction of taxation and of the public
revenue. Harrison claimed that the
surplus money should be used in buying
up Government bonds at an enorfAous
premium, and thus reduce the interest
bearing debt. Blaine was unstinted in
his denunciation of the President, and
declared it a good ground for impeach-
ment that the surplus should be loaned
to pet banks without interest. PreSi,
dent Cleveland said we were confronted
by condition, not theory, and insist
ed that this accumulation Of money in
the Treasury should be prevented BY q
reduction of taxation, that it should be
left in the channels of business and
in the pockets Of the people. The
Republican doctrine was that these
enormous drafts upon the resources Of
the people brought prosperity to tho
whole country, and that reduction Of
taxation would bring business disaster
and ruin. From the bold assaults made
by Mr.. Blaine the ignorant were hade
to believe that the policy of distributing
the Treasury surplus among the banks
without interest was conception Of Mr..
Cleveland and Secretary Fairchild, Of
the Treasury Department He was dis.
ingenious and dishonest enough to con-
ceal the fact that the Democratio Ad-
ministration was only following the
precedent set by several preceding Be
publican Administrations, without COM
plaiht from Mr.. BlainS Mr.. Harris4a d
&ly other Republican statesman. They
W4t6 playing the part Of the demag6gle
with the purpose of making politiSal
capital They well knew that Cleveland
was following in the footsteps Of his PfB!
decessors, and hence their disho4gtK
Weil Harrison is now ip Cle7els6as
place, Blaine is his chief counselof, Ea9
Wihdom is in the place of FairchliG
Have they adopted new policy ID f4i
gard to the surplus? Window is bdyiRg
bonds when he can get them at what he
regards as fair premium. The money
| Is loaned without interest to the very
Same pet banks selected by Cleveland.
Il Is but honest and fair tosay that there
have been no ''pet banks" 1t is distfib
uted among them according to the secu-
rites furnished to the Secretary of the
Treasury in the shape of Government
bonds that the money shall be returned
to the Treasury on demand. If the
| Cleveland Administration was censuta.
able the same fault should be found WITH
the Harrison ADMINISTRATION. We be.
lieve both have done ths best they could
under the circumstances. There Is,
however, wide difference between them
in one respect. Cleyeland recognized
the fact that the conditions which made
s4cha policy necessary should be echapged,
and urged Congress to provide fos a
different disposition of the surp11s.
His plan was to Immediately reduce
taxation, so as not to have sixty or
eighty million of the peoples money in
National Banks without interest to
manipulate for their own profit. The
Republican Administration proposes no
ADEQUATE remedy for the reduction Of
the surplus.
1t proposes not only to maintain the
system of taxation, but to increase the
levies upon the people, as it makes
them prosperous and devises methods by
which it can be expended.
We characterize the distribution of
the peoples treasure among the banks,
either with or without interest, as an
outrage, whether it be the policy of
a Democratic or Republican admin
istration. We commend Cleve-
lands administration for its recog-
milton of the wrong, and for proposing
the only honest remedy, the reduction
of the tax levy to the economical
needs of the Government-Cincinnati
Weekly Enquirer