New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-06


NAIL SUBSIDIES, AND FREE ELECTIONS
THE ADMINISTRATION PATRIOTIC
FOREIGN OLICY-REPUBLlCAN
AND DEMOCRATIC POLICIES
CONTRAsTED.
Washington, Sept. 5.-Presidcnt Harrison's let-
ter accepting denomination as the Repuphcah
candidate for President was made public to-day.
1t is as follows:
Washington, September 3. 1892.
Hon. William Mckinley, jr., and others, Commit
tee, etc.
Gentlemen: I now avail myself of the first
period of relief from public duties to respond 10
the notification which you brought to me on June
20 of my nomination for the office OF President OF
the United States by the Republican National
Convention recently held at Minneapolis | accept
the nomination and am grateful for the approval
expressed by the convention of the acts of the Ad-
ministration / have endeavorc1 without waver-
ing or WEAKNESS, so far the direction of public
affairs was committed to me, to carry out the
pcdces made to the people in 1888. IL the poll
cies of the Administration have not been dis
tInctivcly and progressively American and Repub-
lican polices the fault has not been in the pur-
pose but in the execution. / shall speak frankly
of the legislation of Congress and of the work OF
the executive departments; for the credit OF any
successes that have been attained is IN such
measure due to others, Senators and Representa-
ives and to the efficient heads of the several ex-
ccutive department, that / may do so without
improprcty vote Of want of confidence Is
asked by our adversarics and this challenge to
review Of what has been done we promptly and
gladly accept
The great work OF the List Congress has been
subjected to the revision Of Democratic House
Of Representative, and the acts of the Exec
utive Department TO its scrutiny and lnvcstlga-
ton. Democratic National Administration was
succeeded by Republican Administration, and
the freshness of the events gives unusual facili-
ties for fair comparison and judgment. There
has seldom been time, think, when a change
from the declared policies of the Republican to
the declared policies Of the Democratic party in
volved such serious results to the business inter
csts Of the country. A brief review of what has
been done and Of what the Democratic party
proposes to undo will justify this opinion.
THE REPUBLICAN NATIONAL CURRENCY.
The Republican party during the Civil War
devised National currency. consisting of United
States notes, issued and redeemable by the Gov
crnmcnt, and of National bank notes, based upon
the security of United States bonds. A tax was
levied upon the issues of State banks. and the
intended result, that all such issues should be
withdrawn, was realized. There men among
rs now who never saw a State bank note. The
notes furnished directly indirectly by the
United States have been the only and the safe
and acceptable paper currency Of the peo-
pie Bank failures have brought no fright de-
lay or loss TO the bi-holdels. Tie note of an in
solvent bank is as good and AS current as
tlp credit nf United States
is behind it Our money is all National money!
might almost say international, for these
bills are not only equally and indscriminately
accepted at par in all the States, but in soma
foreign countries. The Democratic party, if in
trusted with the control Of Tie Government is
now pledged to repeal the tax on State bank
ISSUES, with view To putting into circulation
again, under such diverse legislation the States
may adopt, flood Of local bank issues. Only
those who in the years before the War expert
cnccd the Inconvenience and losses attendant upon
the use Of such money can appreciate what
return to that system involves. The dcnomiua-
ion Of a bill was then often no indication Of
It's value The hank detcctor Of yesterday was
not safe guide to-day to credit or values
Merchants deposited several times during tho
day lest the hour Of bank closing should show
a depreciation of the money taken in the morning.
The traveller could not in journey to the
East the issues OF the most solvent banks Of the
West, and in consequence n money changers
office was the familiar ncghbor OF the ticket
Office and the lunch counter. The farmer and
the laborcr found the morcy received for their
products or their labor deprecated when they
came to make their purchases. and the whole
business Of the country was hindcrel and bur
dcned Changes may become Necessary, but 4
l.
throughout the whole country, is tho good fruit of
bitter experience, and am surc our people will
not consent TO the rcactionary proposal made by
the Democratic party.
THE OCEAN CARRYING TRADE.
Frw subjects have elected more discussion or
excited more general interest than that Of re-
covcry hy the United States Of Us appropriate
share of the ocean carrying trade. This subject
touches not only our pockets but National
pride. Practically all the frcghts FOR trans
porting to Europe the enormous annual supplies
of provisions furnished by this country and for
the large return Of manufactured products have
for many wears been paId TO foreign ship owncr.
'rhoueands of immigrants annually seeking homes
under our flag have been denied the sight Of il
until they entered Sandy Hook, while increasing
thousands of American citizens, bent on European
travel have each year stepped into foreign
jurisdiction at the Ncw-lork docks. The mer-
chandise balance of trade, which the Treasury
books show is largely reduced by the annual
tribute which we pay for freight and passage
moneys The great ships-thc fastest upon the
sca-which are now in peace proitng by our
trade, are i'm secondary sense war ships of their
respective Governments. and in time of war would.
under existing contracts with those Governments
speedily take on the guns for which their decks
are already prepared and enter with terrible en-
cicncy upon the work of destroying our commerce
The undiSputcd fact is that the great steamship
lines Of Europe were built up and are now IN
,o RI sustained by direct or indirect Government
aid the latter taking the form cf liberal pay
for CARRYING the mailo of all annual
bonus given in consideration of agreements
20 admit them for |