The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-08-28
MR.. sTEvENsoN's SPEECH.

The Tariff Il the Paramount Issue Of the
Campaign.
In the pending struggle for political su-
premacy, grave public questions are at
issue. Upon the correct dissemination Of
ahsse questions through the peaceful meth
ods prescribed by law, will depend the vel
fare of the people. II 10 all important,
then. that the determination at ths polls bs
the result. not OF prejudice nor Of misrsp-
fesentation, but of fhonpss, intelligent dis \
onssion of the issues involved. The four
years administration of President Clsve-
land was confessedly an honest admins
tration. Those who predicted evil from
Mr.. Cleveland's election proved false
ending March 4. 1889, has gone into history
as an economical and able administr NJ ion
of the government. No scandals attached
to any of its appointments to Office. Under
it tbs rights of all property. of all sections.
OF all the people. were recognised and en-
government was paid at maturity; trust
funds were not used to avoid = treasury de-
fioit; and the gold reserve was not menaced
by threats of invasion to meet the current
expenses Of the government. Under shat
administration no additional burdens were
ident Cleveland's administration the sur-
plus in the treasury exclusive Of the gold
reserve, was, in round numbers, $50, GOO 600.
Ii will be remembered that during the
latter half Of his administ, alton the inn
portant question was what shall be done
with the surplus revenues.
What is the condition that now confronts
as at the end of three and half years OF
republican administration On the basis
of revenues to the government, as Estimated
by the secretary of the treasury. for the
present fiscal year, and Of the liabilities of
hn n mi nm nk ~ hA ~
and per manent appropriations for the Same
period, there will be deficit of So, COZ, 600,
Upon the assumption that the Law requir-
ing $4s, ,000. 600 for the sinking fund will be
complied with, there is no esoapinR the
deficiency / have mentioned. And this,
too. Notwithstanding the fact that the ad-
ministration made default in providing for
the sinking fund to an amount exceeding
eleven millions Of dollars during the last
fiscal year. The bankruptcy which now
threatens the treasury is the result, first of
the enactment of the Mckinley tariff Law,
and, secondly, of the lavish appropriations
of the Fifty-tirst congress.
The secretary OF the treasury was con-
strained bv what he regarded as the ex-
igencies of the financial situation to extend
the paymens of $3.50 600 of government
bonds maturing Sept. OF last year. This
act Of q republican secretary of the treasury
Is in striking contrast with that of his dem
ocratic predecessor. under whose wise and
efficient administration the bonds of the
government were paid at maturity. The
appropriations of the last republican con-
gress-which has gone into history as the
''Billion-dollar' connress-fAr exceeded
that of any Of its democratic predecessors.
The large appropriations Of the first session
of the present congress are in the main due
to the reckless legislation of the Fifty first
congress imposing the necessity of heavy
appropriations upon its successors. In this
connection it must not be forgotten that
the republican senate Of the present con-
gress added moro than $32, 600. 600 10 the
appropriation bills az they originally passed
the democratic house OF representatives.
Tho tariff il the all-important issue Of
the campaign upon which We have now en-
tered. Shall there be revision of our tar
iii laws. and as consequence OF suoh leQs-
lation reduction of taxation; or, shall il
become the policy of our government to
maintain. permanently, high protectlon7
The position of tho two leading political
parties upon that question cannot be mis-
under stood. The republican party. al il
luatrated by its recent enactment of the
Mckinley Law, stands for high protective
in other words, q prohibitory tariff. The
democratic party. as emphsslzed by its ~
terances and its acts, is the advocate Of
tariff reform. The issue is squarely pre-
sented. Upon the one side are the Rdvo-
oates of high protective or prohibitory
policy--a policy that enrich the few at tho
expense of the many. On the other the nd-
vocstes Of such Reduction Of tariff duties
as will give to our manufacturers the bene-
tit of cheap raw material, and lesson 10 the
consumer the cost Of the ueasssaries of
life. The compromise tanf Law Of 1853.
OF which Mr.. Clay was the author, provided
that at the end Of ten wears there should
begin rapid reduction of duties. until the
average rate should not exceed twenty per
cent. Instead of being lessened, protec-
tion has. year by year, under iepuhlican
rule. increased. In proportion as these in
duatriss have grown stronger aud more
powerful, they have demanded yst greater
protection.
Tho low tariff Law Of 1916. of which hob
srt ]. Walker. The democratic secretary q