St. Paul daily globe., 1893-08-27

will be, by the pressure on the part of
the people of the United states, will So
reduce the tariff that workingmen will
be brought back even to the condition
OF the wOrkingmen under the Walker
tariff, but that there will be doubts and
difficulties and reductions | have not
the slightest doubt. The capitalist has
met with his misfortunes. He has seen
his stocks. his bonds, his holdings, and
ne will soon see his real estate reduced
beyond any fear which he entertained
year ago. and in due time will come the
reduction OF the wages of the labOrer,
unless, by great good fortune, the labor
ing man, by demonstrations on his part,
should show that he understands this
question In such fashion that he will
refuse 10 allow it to be misunderstood
by his member of congress.
Referring TO the new political condi-
tions which exist, Mr.. Reed said:
1T is perfectly true that the
Democratic Party
is responsible for whatever occurs In
the future, and whatever does not oc-
cur. They have the president; thev
nave an enormous majority in the house
OF representatives, and they have the
senate to themselves. For the first
time in thirty years they have been re-
'bN'No AAOih tiC INV lCfSI VI CIiliClSIll Oh
the acts CT others, and have been lifted
to the high lvel of responsibility and of
performance. 1t could not be expected
thae they would change their nature in
the twlnkling of an eye. Elections
might put them into power, but only
the lapse OF time can give them the
proper sense of responsibility, The
time Will come when the Democratic
members OF congress, iustead of disput-
Ing with each other what the Democratic
platform means, will be disputIng with
each other as to what the necessity of
the country demands. Until that period
OF responsibility shall fairly rest upon
their shoulders and also afterwards,
they can rely upon tie assistance of the
Republican party in the minority as
they relied upon them in the majority.
In the direction of sound government, of
responsibility and of honest admins
tration of affairs.
IL am sorry that we have not been
| permitted 10 exhibit our wisdom in the
way of amendments; that we have not
| been allowed to take the vote of the
| house as to the various propositions to
! meet this affair. which would seem
satisfactory to us. We are confined to
| those propositions which the whole
Democratic party have finally deter
mined to
Submit to Us.
l shall spend no time in pointing ou,
| the contrast between this action on the
part of tue Democratic congress and
their claims during the Fifty-first con
! gress; shall waste no time in citations
| showing how the rights of the minority
are outraged, according to them, for
recognize now, as | recognized then, the
necessity and duty of the party in power
assuming the responsibility OF its ac
tions. am only sorry that this question
cannot be settled, and settled righteous
! ly, within the bounds of the Democratic
party itself, but know. and every mal
Ill this country knows, the majority oi
| the Democratic party would decided
against the good sense of the nation.''
Passing then TO the consideration OF
the question OF repeal, Mr.. Reed
said that lille he was in favor OF
it, he did not think it would be an i'm
mediate cause OF the revival of pros
Derlty of the country. Nevertheless he
would vote for repeal for two reasons
First, because, whether Justly or not,
the Sherman law is believed to be the
cause of the unreasonable boarding OF
the currency throughout the country.
In this connection Mr.. Reed paid a
compliment to the managers of the
banks generally, Saying that in his
| Judgment they were doing an honorable
and patriotic work and were the main
stay of the country against failure, and
| future disaster. The SeUCnd reason was
that only by repOaI could the nation
! hope TO attract fUroIglI capital, witiIoat
which it were vain TO hope for an up
ward turn OF the cOuntrY'S business.
| We must put ourselves in position, he
| said whom fnr rho al
move comes, to command the capital of
the world. which shall assist us to the
next period of prosperity and progress.
| Mr. Reed paid his respects to the ob-
| JectlOn that the proposed repeal was a
renewed decentralization of silver, and
characterized the charge that the law OF
| 1878 WAS trick as zone of the most
stupend0uS fabrications which has ever
existed IN political life"
If there were any appreciabie differ
ence in the value of the two metals,
even as much as 2 or 3 per cent, the
| cheaper would drive out the other, as
the history of the United States showed.
! Upon the assertion that repeal of
The Sherman Aaw
would increase the burden of the b0r-
rover, Mr.. Reed said there will always
| be borro wing and lending world. and
| it is of the first Importance, not less to
the borrower than to the lender, that
the laws on this subject be made in a
| spirit of fairness and justice to both
classes. -
In conclusion, Mr.. Reed said: ''What,
then, is the pathway of duty? The un-
conditional repeal. That will either
give relief OF not. If not, then we must
try something else, and the sooner the
hat.or ic frl.Y n hpnY, rQurpt n
all sensible men that we have delayed
so long. Men are today struggling al
most against fate, and praying for re-
lief. The banks are strained almost to
the point of breaking. 1t is such pity
that we had to waste so much time in
this weary welter of talk.
We stand in a very peculiar position,
we Republicans, today. The represent
ative of the Democratic party, just
chosen president of the United States,
finds himself powerless in his first
great recommendation to his own
party. Were he LETT to their tender
president of its choice overthrown by
the party charged with the public well
fare. What wonder, then, that the presi-
dent appeals to the party whose patriot
ism has never been appealed TO in vain?
Never, | say. The proudest part of the
proud record of the Republican party
has been its steadfast devotion to the
cause of sound finance. When the
country was tempted to pay Its bonds in
deprecated money, the Republican
party responded with loud acclaim to
that noble sentiment of Gen. Hawley
that every bond was as sacred as
soldiers grave. 1t cost us hard
fighting ana sore struggle, but
the credit of this coantry has
no superior in the world. When
the same arguments heard today were
heard fifteen years ago, sounding the
praises of a deprecated currency and
proclaiming the glories of fat money,
the party of Abraham Lincoln marched
steadily toward specie payment and
prosperity. What we were in our days
of victory we are in our days of defeat,
champions of true and solid finance,
and when the day comes, as it surely
will come, for US to lead this land back
to the paths of prosperity and fame
which were trodden under Ranuhlicap