Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-09-07
SPEECH OF GEN. ADLAI STEVENSON.

General Stevenson, the Democratic
candidate for Vice-President, made an
able speech at his home in Blooming
ton, ILL.,, on Saturday week, discussing
the financial condition of the Govern
ment, the tariff, and the force bill, in
which he said
What is the condition that now con-
fronts us at the end of three and a-half
years of republican administration
On the basis of revenues to the gov
eminent, as estimated by the Secre-
tary of the Treasury, for the present
fiscal year, and of the liabilities OF the
government on account of the annual
and permanent appropriations for the
same period, there will be a deficit OF
fifty two millions of dollars. Upon the
assumption that the law requiring
forty-eight millions of dollars for the
sinking fund will be complied with
there is nc escaping the deficiency l
have mentioned. And this, too, not
withstanding the fact that the admin
istration made default in providing for
the sinking fund to an amount exceed
| ing eleven millions of dollars during
the last fiscal year. The bankruptcy
| which now threatens the treasury is
| the result-frst, of the enactment OF
| the Mckinley tariff law, and, secondly,
of the lavish appropriation OF the Fifty
first Congress-.
The Secretary of the Treasury was
constrained by what he regarded as
the exigencies of the financial situation
to extend the payment of twenty-five
millions of government bonds matur-
ing September list of last year. This
act of a republican Secretary of the
Treasury is in striking contrast with
that of his democratic predecessor,
under whose wise and efficient admin
istration the bonds of the government
were paid at maturity. The appro
priations of the last republican Con-
gress-w which has gone into history as
the 'Eillion-dollar" Congress-far eX-
ceeded that of any of its democratic |
predecessors. The large apprOpria- |
lions 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 success |
sors. Much of the appropriations by
the late session were in pursuance OF
the requirements of existing law-laws !
enacted by republican Congress. In |
this connection it must not be forgot
ten that the republican Senate OF the
present Congress added more than
thirty-two millions to the appropria-
tion bills as they originally passed the
democratic House of Representatives.
The reckless expenditure of money by
appropriations which no public neces-
sity demanded merits the condemna-
ton of the people.
For twenty-four years Immediately
preceding the inauguration of Presi-
dent Cleveland all departments of the
government were, in the main, under
the control of the republican party
During that period the larger part of
the legislation which has been SO
potent in burdening the people with
debt and taxation was enacted. That
legislation was resisted by the demo-
cratic minority in Congress. The
treasury of the United States has ever
found its most faithful guardians in
the democratic party. The tribute of
Mr.. Blaine to its old-time leaders was
but just when he said they had
guarded the treasury with unceasing
vigilance against every attempt at ex
travagance and corruption"