Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1891-10-08

nanen. appropriations for the 5ist ccngress
'apid payment BY this administration Of the in
crest bearing debt.
have exhausted the surplus in the treasury.
How can this be, when We have just entered
upon the fiscal year 1893. TO which one-hslf or
nriations for the fiscal year 1891 were only 3d..
10000 in excess OF those OF 1889 The fact that
mis- alton snce ne Of March g
. ms. in the discharge Of the interest bearing
ieot amounting TO more than s233 000, 900 of The
view. The surplus mas been thus applied Ia
stead of allowing IL to lie idle In the treasury, az
vas largely done during tine administration OF
.eem large, and they are large, but 1t must be
borne in mind that many OF the m are not 60 be
expended within the fiscal year. but made In
order that economical contracts can be execu ed
for the prose cution to completion of the W, rks
All contracts for public works,
most of these are made at public lettings TO the
lowest responsible bidder, thus allowing full and
free competition. Such con raots cannot be
spe ciaI law authorizing it II these appropris
liors are further analy zed II will be seen how
large are the sums, not used for the ordinary
expenses OF carrying on the government, but to
meet obligations Of the government long since
and many OF them the price OF our
For illustration let me give few of such lead.
ing items for the
Current fiscal year for pensions s1a6, 22s 900
Interest on public debts. 100000
Purchase Of Indian iand,........ .. 100000
-
To which add 80 much of the Appropriation for
postal service az 10 paid from postal receipts
M ~ son, Sor ~ a, '
tonal bank notes, sum already used to pay for
the redemption Of the interest bearing debt, and
we have left only t2l6 900 appropriated last
for all The great the
ment, including the rebuilding OF the navy guns
for Notifications. the support OF the army and
navy, n ssary pub 10 buildings, rivers and
har 6ors, q d all the great current purposes OF
great government like ours.
do not mean TO say that these expenditures
there, and In some cases wholly omitted, but tho
aggregate for sll these great purposes lie not
the effciency OF the government, and retardipg
its rapid growth and development which has
been and is the marvel OF the time. hope here
great reductions can be made, and wherein the
appropriations OF the last congress were made
"wastefully. and to promote class interests" to
the injury of the great body of the people.
You must also bear in mind that these in
creased appropriations in their details were not
democratic minority. They did not oppose the
appropriations have named, nor any of them.
Do they now oppose appropriations for pensions,
navy. for rivers and hsrbors, for Notifications
for the agricultural department., for soldiers
homes, or for any Of the items have described9
have J ct to hear of such criticism In detail.
CURRENCY AND SILVER.
The Republican party and the administration
were confronted last year with the question OF
with 1t the question of the utilization of silver
as a part of such currency. The Democrats had
lives during the whole Of President Cleveland s
term, and for two years before, and did nothing
and proposed nothing looking to an increase OF
the money of the country. They did not ag.-
tate even the free coinage of silver, or any
method of using silver. and when in 1885, the
senate sent TO the house measure TO retain
the volume of the currency then existing, IL
was quietly shelved in the committee room,
having charge of The subject at the request, or
upon an intimation from President Cleveland
that such legislation did not meet with his sp-
The Republicans coming into pow or In both
houses t9Ss up ree tbs sn9 9 the PHI I'M
per annum, passed the first session providing
for the issue Of treasury notes made a fun le-
Government, and secured by silver bullion at It's
marketsprice. and authorized the purchase of
100000 ounces each month for this purpose,
uous monthly increase Of the currency OF
about three and one half millions of dollars, or
than forty millions per Of net
country, did not receive a Democratic vote In
either house, and received every Republican
for this hostile vote was that they favored The
free coinage OF silver, and the platform of the
party this year In Iowa favors free and unlim
form approves OF the legislation OF the last con
gress on this su bject. 1t will be seen that the
Republican party faVoIs the utilization OF
TO po'h the s0lo full o point 'ef of safely money 4
such use. We have provided for silver to an ex
lent equal to the eniire production of the ell
yer mines of the United States, but have pro
vided that the difference in value between sill.
yer and gold as bullion shall go into the treas
ury OF the United States for the benefit OF IN :
prod9 9 pssp and silver owners only Silver b1
lion in one dollar being worth about twenty
folr cents less than the bullion in a dollar of
gold. taking the who'e product Of the United
States this is q considerable sum. But the prep
osition of the Democra 10 platform is to tase a |
the silver of the world, IL 1t shall be offer Tor
free coinage. and give this difference or the diff.
ference whatever 1t may be, TO the owners o.
the silver wherever they may be. and not To me
government. 1t is believed free coinage on the
basis proposed will invite foreign silver to our
shores with q view TO make this profit, ard that
the effect of this would be to Danish gold from
our country or cause 1t to be boarded for pre-
The demand for this legislation comes from
those who wait more money. If the effect
be )arded, no additional money would come
into cir culation until silver comes In TO take The
place of gold Withdrawn. As we have more
work of circulation, this change OF 81 bstitution,
to say the least of II, would greatly deranse our
monetary system and would suddenly cause a
great contraction of money rather than an in.
crease. This would certainly be the first effect.
But The promoters OF free coinage say that gold
6e5a GO az Of ,ss
that be true, then there would be no apprecia.
BILE incre ase of circulation beyond that now pro.
for silver equal il not beyond the production OF
the mines In tho United States, and free coinage
would only give TO the miners instead of the
dollar produced from the mines, which would
be an injustice 70 the whole BODY oil
tent. We have been able to maintain our pres
ent coinage at par with gold, because We nave
coined in limited quantities on government sc'
and thus our gold has been zen kept here
cipe is maintained. The treasury notes being a
legal tender, they will not be presented for re-
sented. So that much less volume of gold re.
serve is required than would be IL the notes were
But It is Claimed by the promoters of free
coinage that the mere passage of q law by the
United States would bring silver and gold in
their bullion value to par with each other. II
this were true, why is 1t that European govern
ments have closed their mints TO free coinage
France has e7OO 900 of legal tender silver, and
silver CON IN srteee es aed Is
with all the states Of the Latin union, although
they all have full legal tender silver. 1t Is De.
free coinage Of silver. They have silver on the
relation of l5M to !, or In other words, fifteen
and one.half pounds troy Of silver are equal TO
U
yer are equal to a pound of god. This large
quantity of silver now ctrculates throughout
France on q par with gold there as ours does
here, because their mints are closed 10 free coin.
age as ours are closed here. They do not be-
lieve that IL the French mints as well as our own
were opened to free coinage we would Jointly.
without the concurrence of other CONNER ciaI
nations, bring silver and gold together. They
believe this because of our own experience with
those metals in the past. At FIRST our ratio was
is to /, and then 10 70 I, whilst the European ra
tio was l5h to /. This difference Of per cent
between our ratio and theirs had the effect 10
first Danish gold from our country. The ratio
of 10 to overvalued silver, and our gold left tne
country That is the little we had in our early
history. Our people wanted gold as well a. sill
yer, and in 1884 we changed our ratio TO 10 to ],
thus overvaluing gold per cent, as we had
yer went out of the country, even the fractional
silver, 90 that in 1853 we debased our fractional
silver in order that we might nave change for