St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-07

penditures OF the government tor the
four years next before the Republican
party came into power. Not only this.
but the Fifty second congress was
obliged to provide SITS, 1856. Sl6.79, aud
the Fifty-third congress, in the session
Just closed. S65, 72S. 64l.92 to meet the
obligations imposed upon the coun-
try by the Fifty-tirst congress. Here
Mr.. Villas claimed was the cause of the
national distress of 1898: anatiOn could
no more squander its substance in
riotons living and escape the penalty
than any prOdigal spendthrift.
Iaklng up the tariff question, Senator
Villas said the Mckinley act by its per-
fecteu prohibitions and the deliverance
OF protected articles made in this cOun-
try To the manufacturers and trusts.
although the levies made on the people
were greater than ever the share of the
government was less; favorites WaXed
Tat, but the public treasury was lean,
and the iessened receipts from customs
dues raised increasing menace OF CON-
ing bankruptcy From S22y. 500, 5S447
IN 1890, the last complete year before
Mckinleylsm began, the customs rev.
enueS fell 10 $l77. 452, 964.l5 in 1892, a
preSage OF coming disaster, and though
from special causes there was better
result In tho year ending with June,
1873, the fatal drop continued during The
year Just past, and but Sl32, 294 PAP II
have been collected at the customs
houses.
Thus, though every rate of duty wa
increased OH goods OF Republican favor
lies, the governments share of the III.
creased taxation was decreased S97,000.-
QUO between the last year before Nc
kinleylsm and The last year that folly
endured.
Against this failing off in revenues
the speaker again referred TO the in
creased duties placed upon the country
by the FlIty-tirst congress. and used 1t
as an argument to show why, in the
year just gone,
Bankruptcy Had Almost Occurred
before new anu sufficient revenues
could be supplied.
The Sherman law was next taken up
The National Democratic convention of
1892 had accepted the designation given
1t by the Democrats OF Wisconsin, and
declared it "coWardly makeshlft to
ward OIL the loss OF The electoral votes
of the Western silver states" The lat
Ter had first made demand for free
coinage of silver at the Old ratio
one OF gold. while excess
i've production and other causes
mad continually decreased the value of
the white metal until in 1880 1t required
twenty-five grains of silver to buy one
OF gold, with further fall in prospect.
The proposition that the government
should coin dollars at IL TO l, and give
them to the mine owner who furnished
the bullion, implied that the value of
the dollar should fall to the value of the
silver in lt.or if the governments credit
ffNc m hot IN,
should give the silver producer the
gains of coming. some 35 per cent or
more. Inc Fifty-tirst congress, equally
fearing to grant or refuse this demand,
devised compromise, equally perni-
clOuS. by which the government was
compelled to purchase $50 tons Of silver
bullion month, which it had no use
for, thus forcing the issue of federal
prOmissOry notes at the rate of
81, 0U0.0O0 a month. BY this means
the Western Republican silver states
were furnished customer at the eX-
pense Of the people OF the whole
country. The inevitable consequences
followed. The government was set to
work Initiating and impairing the cur
rency OF the country. Distrust crept
into the channels of business, capitalists
abroad quietly pushed their American
securities upon the market, and gold
began taking its way to foreign lanas.
1t was, in another form, the triumph
OF greenbackism. The silver dollar
was made legal tender, yet silver CON
tinued to decline in the market. A
thousand million dollars of silver GER
ltiticates had been issued, which the
government practically bound Itself TO
redeem i'll gold. because if it redeemed
them in silver it dropped the currency
a In a nm ia l..
lsm, while their redemption i'll gold
would not only impose a ruinous loss,
but it was practically impossible.
Mr.. Cleveland, on his return to the
presidential Office. was confronted with
a treasury with S6U, 900, 900 less of money
i'll its safe, with deferred and accumu-
lated demands to be met S75,00O,O 900
greater in amount than there was reve.
hue to meet them, in place of the fair
prosperity and universal Ondence he
had left behind hun rising distrust;
diSordered currency with a law de-
handing monthly Increase of its
risks; gold disappearing from the coun-
try, financiers taking alarm, and the
storm Already Gathered
and ready to burst. The president and
the Democratic party entering UPON
their trust under such circumstances,
otto citizens. Senator Villas then re-
viewed at length the difficulties that
have been placed in the way of repeal
ing the pernicious causes of the disaster
by the Republican minority in congress,
beginning with the Sherman act, down
to the Mckinley law. The Wilson
bill had required but moderate amend
ment to have made it ali efficient meas
ure Of reform. There was much i'll it.
however. to give rejoicing that it has
become il law Notwithstanding the sue
cessful assaults that had been made
upon it ny the protectionists. The in
come tax stands most acceptable among
its particular provisions. aid all men
are compelled to confess its justice.
The most grievous thing manifested in
tho battle for tariff reform was the
power displayed by the trusts and COM
charlottesville natural enemies of De-
mocracy-and the discovery of their
hold-up OIL some within the ranks of the
Democratic party. Tariff reform. how
ever, would be achieved i'll the full
measure of justice and right. 1t was
but delayed, not defeated.
A good start had been made towards
retrenching the expenses entailed by
the Fifty-iirSt congress. In the salary
list over 600 Offices have been abolished |
and 100000 annually saved thereby,
while the appropriations are o yer $685.
GOO. 900 less than those made at the last
session of the preceding congress and
$50, 555. 49l.7S less than the last session |
of the Fifly-frst congress.
Senator Villas then reviewed the his |
tory of the Republican party to show |
that it had long ago fulfilled its mission |
OF usefulness and was now merely |
a party of opposition. without any de-
fined or controlling principles. 1t was
Willing to c0nsort with the POpulistS of
Alabama or the bigoted A. Z. AIS of |
Wisconsin in the desperation of lis de-
caying life.
&c In conclusion. he urged the conven-
,tion.to present candidates for popular
chaice who would honor il by faithful
discharge Of duty.
y.' .Let me pray you further" he said.