Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1894-12-06

sport VI luo pottiOtlC lmpuIee5 Vi
grateful people"
Referring 70 civil service reform. the
President SAYS: .'Ihe vast maiOrIty OF
voters stand ready to insist that the
time and attention of those they select
To perform for them important public
duties should not be distracted BY deal
ing out minor offices, and they are
growing TO DO unanimous ia regarding
that party organization is something
that should DO used in establishing
party principles in tesd of debating tue
distribution OF pubic places as rewards
for partisan activity"
Referring 10 the strike commission
ers, the President says: "Ihs report
OF the commissioners has be, n submit
ted to me, and Will be transmitted to
congr' IS with evidence taken in the
investigation. Their work is well done,
and their standing and intelligence give
assurance that the report and sugges-
tons they make are worthy of careful
consideration
NEW TARIFF LAW CRITICISED.
The tariff act passed at tue last
session Of congress needs important
amendments. II it is to be executed
eff5ctually and with certainty. In
addition 10 such necessary amendments
as will change rates OF duty, he saws he
is very decidedly in favor of putin g
coal and iron ore upon the free list.
So far as the sugar schedule is
conet rned, he would be glad under
existing obligations to see every partic e
OF the dIferentIal duty IN favor OF
refined sugar stricken out of the tariff
law. II with ali the favor now accorded
sugar-refining interests in our tariff law
it languishes 10 the extent OF closing
refineries and discharging thousands OF
wOrkmen, it would 81 em at preseut a
hopeless case for reasonable legislative
aid
With the advent of a new tariff
policy, not only calculated to relieve
the consumers Of the land in the cost of
their daily life but to invite the better
development of American thrift al d
create for US closer and more profitable
relations with the rest of the word, it
follows as logical and imperative
necessity that we should at once remove
the chief if not the only obstacle which
so long prevented our participation in
the foreign carrying trade of the sea.
That ancient provision in our law
denying American registry to ships
built abroad and owned by Americans,
appears in The light of present condi-
sions to be nearer barbarism than
any thing that exists under permission
OF the statutes of the United States.
earnestly recommend its prompt repeal.
THE FINANCIAL PROBLEM.
During last month the gold reserve
became so reduced and its further
depletion in the near future seemed so
certain, that it became necessary to
replenish the reserve and thus maintain
popular faith in the ability and deter
mination OF the government to meet, as
agreed. its pecuniary obligations 1t
would pe well If an emergency authority
existed to issue bonds bearing a low
rate of interest and maturing within a
short period, but congress having failed
to confer such authority resort was nee
essarily had to the resumption act, and
am glad TO say that on the sale of the
bonds the premium received reduces
the rate of interest TO be paid by the
government to less than three per cent
Nothing can be worse or farther re-
moved from sensible finance than the
relations between the governments is
sued gold held for its redemption, ard
the means of redemption when i'm.
paired Even if claims upon this fund
were confined TO obligations originally
intended and il the redemption Oh these
obligations meant cancellation, the fund
would be very small But these obliga-
tons when received and redeemed in
gold are not cancelled, but lie ISSUE d
and made to do duty many times by
way of drawing gold from the treasury,
Thus we have an endless chain in
operation constantly depicting the treas.
ury's gold and never having final rest.
| The demands that increase our danger
/ also increase the necessity of protecting
this reserve against depletion. and it is
most unsatisfactory TO know that the
protection afforded only temporary
palliation. 1t is perfectly and palpably
plain that the only way under present
conditions by which this reserve when
dangerously depleted can be replenished
is through the issue and sale of bonds
of the government for gold: and vet
congress not only thus far has declined
to authorize the issuance of bonds best
suited to such purpose, but there seems
a disposition in some quarters to DENY
bob the necessity and power for the
issue of bonds at all. / cannot for
moment believe any Of our citizens are
willing their government should default
in its pecuniary obligations, or that IFS
financial operations should be reduced
to silver basis. AT any rate | should
not feel my duty done il omitted any
effort | could make to avert such
calamity As long. therefore. as there
is no provision for the final redemption
of putting aside tor currency obligation,
and so long as there is no better
authority for bond issues allowed than
at present exists. such authority will be
utilized whenever and as often as it
becomes necessary to maintain suffi
cient gold reserve and in abundant time
to save the credit of our country and
make good the financial declaration of
our government.