Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1894-10-16
HILL ON HARD TIMES.
sunerings Of the Government and thu
People Attributable to Repub-
Itcan Legislation,

The financial panic of last year and the
succeeding hard times were the results of
Republican legislation enacted during
Harrison's administration. Yon know
who passed the Sherman silver bill and
the Mckinley bill, and one WAS as detri-
mental to the finances of the country as
the other. One exhausted the surplus,
especially the gold of the treasury, to
purchase silver bullion to be stored in the
treasury as commodity, and the other,
by it's high prohibitory duties, failed to
produce sufficient revenue to support the
government.
The Mckinley bill was complete fail
urs. 1t virtually broke down during the
last year of the Harrison administration,
the receipts we're 80 meager that the ex-
penditures of the government nearly ex-
ceeded its revenues. Drafts made upon
the treasury department were not
promptly met, among others drafts for
the payment of money due for pensions,
as accounting officers well recollect, and
a system of transfers of balances from
the different sub-treasuries became neces-
sary and was entered upon, which gave an
excuse for delay in settlement of govern
ment claims, when in truth and in fact
the nation for the time being was virtu-
ally bankrupt, because the available funds
had been used to carry out the provisions
of the Sherman silver law, and the Nc
Kinley law failed to produce the required
revenues.
These conditions kept getting worse
when the Sherman law was repealed, and
then was not fully relieved until the re-
peal of the Mckinley law. What has been
the result since then? With these two
obnoxious statutes repealed, the country
is now entering upon better times. Money
is easier, trade is reviving, manufacturers
| are resuming operations, new enterprises
are starting up, and everywhere there is a
| feeling of security, of confidence and of
prosperity. Our workingmen are rapidly
finding employment, and the great army
of the unemployed will soon disappear.
What the country needs now is indus
trial peace. ANY attempt to repeal the
existing law and to substitute the Nc
Kinley law in its place will disturb the
business interests of the country and re-
store the recent hard times, and should
| be frowned down by every business man
in the country. Besides, it would be an
ill-advised and idle effort, because it can
not succeed. Even if Republican
house of representatives should be chosen,
supplemented by a Republican senate, no
law could be passed without the approval
of Democratic president. 1t is better
for the country, better for its direct in
terest, better for everybody, that no such
effort should be made, but that Dem
ocratic house and senate should be chosen
to cooperate with the president in giving
the country industrial peace for the next
two years. Those who advocate differ
ent course do so for politics sake alone,
and not for the good of our common
country. Relief from tariff agitation at
this time, no radical chance in the near
future, a fair trial of the existing law be-
fore general revision is again attempt
ed-this is the wise and safe policy which
will continue the restoration of pros
perity.-Extract from Gov. D. B. Hills
opening address of the campaign in New
York.