St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-09
PHE WRONG HORN OF THE
DILEMMA

w
The Colorado Populistshave issued an
| address to the people which contains
| just enough OF truth to illustrate how
easy 1t is for men absorbed in the con-
! temptation OF one idea to start from
correct premises and construct utterly
erroneous conclusions. They state the
truth when they say that 1.-THE reve nueS
| of the government have been large
enough and the people sufficiently
prompt IN the payment of their tributes,
but the public treasury has been plum
dered openly and continually and deIi-
antly. The present financial condition
of the people and govern ment is the
result of false theories aud vicious Leg
islation enacted into law many years
ago. This universal distress is not the
| creature of moment, it is not the Sc
| quence of the immediate past, however
much recent legislation may have hast
ened its coming; it is the natural and
! logical outcome of we'll laid and care
fully executed plans by the money own
erS of this and other nations" The as
Sertion, however, that the recent silver
legislation is in line with the policy of
class favoritism long pursued by the
Republican party is a strained and I'M
warranted conclusion.
The extravaganza of the last Repub-
| lican national administration was the
cause of all the existing financial ills
that beSet the country. Receiving the
custody of the treasury with sur
plus of more than $40, 900. no limit
was placed on the expenditures. and
after the lapse of four years the ma
ton was bankrupt, and deficiency of
many millions was beQueathed as leg
acy TO the incoming administration.
Not only this, but vicious system of
| finance and taxation had been inaugu-
rated. the government was forced to
| purchase given amount of silver, for
which it had no legitimate use, each
month, to coin it and to store it in the
vaults OF the treasury, where it will re-
main, idle and unproductive, for the
next generation. The simplest princi-
| pie OF economy was violated by this
policy. A business man who should
purchase stock of goods for which
there was no sale would be called a
dolt, and the disaster that would inev-
! itably result would be we'll merited.
And yet the silver cranks thought to
reverse this immutable law of trade,
and are indignant because of their fall
ure, charging responsibility for that
| failure upon those who sought to rem
edy their ineffable folly.
The silver purchase act was one of
| the most conspicuous and infamous of
laws that may be properly called class
| legislation. Its enactment was procured
for the exclusive benefit of few scores
OF men, owners of silver mines. The
| whole country was required to pay
! tribute TO them. AS the accumulationS
of silver in the treasury increased, its
| value decreased, so that at the time of
the passage of the repeal bill the bull
ion owned by the government was worth
| S70,000,0O0 less than its cost. And it's
value has not perceptibly increased
| since that time, although the indica-
tons are that ultimately the govern
ment will not suffer as heavily as at
first feared. But the silver in the treas
ury, now amounting to about $500, 000,-
| 000, is practically a dead asset, for it is
not available for the payment of public
| obligations. The people do not want it.
/ and although the government might
issue it in payment of its obligations, it
would return Immediately as payment
for taxes.
Silver legislation was the worst form
of class favoritism. 1t has, fortunately
for the country, ceased, although its i'll
| InFiNno nff.Sotc cfiI Il
will continue to be felt for many years.
Tie next species of class legislation
that the Democracy proposes to attack
is the tariff. The laws governing i'm
| ports are to be so amended as to make
the luXuries of life bear the burden of
the government, while the necessarIes
are to be taxed only so far as may be
necessary to supply the money needed
for the economical conduct of the gov
eminent. The present tariff is a more
gigantic evil than was the silver-pur-
chase act. Its inequalities are notorious.
1t tends towards the erection of ali ar
iStocracy. of wealth and a serfdom of
labor. 1t denies to the toiler the lust
reward for his labor, and taxes him be-
sides for bounties given to the manu-
facturer, the importer and the sugar
planter. 1t is eunningly devised to
blind the masses to Its iniquities, and
while assuming to protect labor loads it
with burdens grievous to be borne.
The Colorado PopuliSts may be sim
cere in their desire for reform, but they
| are exceedingly short-sighted. They
mistake the effect for the cause. Tariff
reform will cure many of the evils of
which they complain. By increasing
trade 1t will increase the demand for
silver, and stimulate production while
1t increases values. With the abandon
ment of all Legislation in the interest of
the classes a new era of prosperity will
dawn upon the country, and Colorado,
as well as tine rest of the country, will
share its benefits.