The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-01-26

protect sfse csa-renSv--the very object tue
las contemplated. hug today De sesls bonds
20 naes. dstscss snd pay csrrens expenses
That :. hs Strains This very Ixx today
aftsr refusing 10 exercise his powers under
il when i: would have saved the nation
from . fearful financial panic IL Il 10
competent soiay for the secretary to sell
bonds TO increase the gold reserve,
In order to continue drawing On il for cur
rent expenses, IL vas certainly competent
last Nay for the secretary TO sell
for the legitimate purpose Of sus-
tanning the coin notes OF the government.
The president and his secretary are willing
nov 70 exercise the power which they
refused 10 exercise ten months ago. They
were iznrlored - exercise ii In Nay to
arrest financial panic and they refused;
they are willing TO exercise it today to
meet defcit. which is the direct fruit Of
Democratic tariff policy. Under protec-
taon this country has had and always can
have surplus OF revenue. IL had . de-
felt under the Walker free trade" tariff
of 1861: is has deficit today under the
threat OF the enactment of the Wilson bill,
which is nothing but the Walker sec
tional, Southern tariff revamped and
ready for re-enaefment The deficit Is due
altogether and alone TO tariff agitation,
and but for this tariff agitation the reve-
nue. of the government would be ample for
its needs.
The refusal Of Secretary Carlisle ten
months ago 10 Issue gold bonds 70 protect
the gold reserve precipitated q currency
panic which terribly aggravated the in
dustrial panic which the Democratic tariff
policy was certain to precipitate. Tariff
agitation has destroyed the power to raise
revenue under existing laws. The Wilson
tariff bill viii cause deficit of 5 rs, 600 COO
ton and . Democratic congress have
ruined the trade Of tho country, forced q
panic, closed quarter of our factories, de-
pleted its revenues and obliged great,
wealthy and prosperous country in time
of peace to borrow money to pay its cur
rent expenses. just Is the Democratic nd
ministration had to do under James
Buchanan as q consequences Of the Walker
tariff OF ls46, which proved not q revenue
bat q deficiency tariff.
The Democratic congress and admins
tra;ion do not know how to govern; they
have brought the national treasury to the
verge OF bankruptcy. and Secretary Car
Isle is Obliged today to strain the law of
1875 to pay current expenses because his
party has not the brains and the pluck to
enact revenue tariff instead of a de-
hciency measure. He II obliged to strain
this law because his party in congress
would not today enlarge his authority as
suggested by Senator Sherman last Febru.
AIRY. The silverite Democrats insist that
the seigniorage silver behind the treasury
notes issued under the Sherman act shall
be coined into "Bland" or lightweight
dollars; the other imitation Democrats
urge the issue of more paper currency; the
majority of Carlisle's party in congress are
so stupid that they can see nothing in a
bond issue but scheme TO favor national
banks aud national bank currency to the
detriment of state banks and state bank or
wild cat" currency; they howl about an
increase of the national debt when the
stupids ought to know that tho govern.
ment does not owe any more when 1t sells
bonds to pay its current expenses than q
man does Who sells his note and pays his
store bills with the proceeds.
Itis fortunate for Secretary Carlisle that
he Is able TO issue bonds to pay his bills
without waiting for congress to give him
leave. for his own party would never grant
1t; but the capacity of Secretary Carlisle
and the president Is fairly impeached by
the Philadelphia Press, when it says:
LAST spring Secretary Carlisle would
not issue bonds to protect the gold re-
serve when il would have prevented dis
astrous panic, although legal authority for
the step Was clear and distinct. Now he
issues bonds TO raise cash to pay current
expenses. for which legal authority is far
less clear; but what Secretary Carlisle
would not do TO save the country he is
forced to do to save Democratic admin
istration from impending bankruptcy"