The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1889-12-11

new states. He shows more courage upon
this point than any other which he touches
in his message. Evidently, Wall-st. has
been bracing him up. He opposes not
only free coinage, but the coinage
of the full amount OF 100000
per month in standard dollars,
authorized by the existing law.
He says, in substance, that we are coming
all the silver now that we can absorb;
that any material increase in the coinage
will invite financial disaster. lie says the
secretary of the treasury has scheme for
the issuance of notes or certificates upon
the deposits of silver bullion to the
amount of the market value of the latter.
The president thinks that he approves this
project, but is not quite sure because ne
has not had time to investigate 1t thor
oughly. 1t is significant that he uses the
iargon of the gold-bugs throughout, speak
ing, for instance, of the bullion value OF
the standard dollar as ninety-three cents.
He means, of course, ninety-three cents IN
gold. The fact is, however, that standard
dollar not only has value of one hundred
cents, but is one hundred cents. Neither
morally nor legally is the gold dollar the
standard by which the silver dollar is to
be measured.
The president is sure we want to expend
good many millions on our coast detenses;
a good many millions more on subsidies
to steamship lines; good many millions
more on rivers and harbors and still more
millions on the "Blair bill" Anything to
get rid OF the surplus and avoid reducing
taxationup on the necessaries of life. For
subsidies, to which the president claimed
only few years ago to be ''unalterably
opposed" he has no better argument than
that England and other European coun-
tries give subsidies, and therefore we
should. He does not favor an American
policy" on this question as on the tariff.
If the argument that because England
gives subsidies the United States should
do so is a good one, it would also
be a good argument that because England
levies no protective tax, neither should
the United States Mr.. HARRISON and his
supporters during the last campaign made
a very strong bid for votes upon the
grounds that they were hostile to every
thing English now he asks us to subsi-
die our steamship lines because it is
English, you know. 1t is very funny. As
a matter of fact England gives no subsidies
to her steamship lines, as Mr.. HARRISON
must know, if he has read Consul-Gen.
News recent report to the state depart
ment. Even if she did, it would be no sui
ficientreason why the United States should
pursue the same policy. England levies
no taxes upon the materials that go into a
ship and she does not prohibit her people
from buying ships wherever they can get
them the cheapest. If the United States
would follow her example in this respect,
as President CLEVELAND urged, we should
soon rival England on the high seas and
without taking the peoples money and
giving it by the million to capitalists for
building and operating steamships.
There is not much else in the presidents
message which calls for comment, except
the illusions to trusts Mr. HARRISON
Processes to be bitterly opposed to these
little private affairs as his secretary Of
state termed them last year, and even goes
so far as to recommend penal legislation
against them. 1t is a safe recommendation
to make to this congress, as the president
well knows. 1t is a republican congress
in both houses, composed very largely,
especially in the upper chamber, of men
for trusts. There will be no national legis-
lation against these conspiracies until con-
gress is again democratic in both branches