The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-11-21
GOVERNMENT FINANCES

What we need is a settled, scientific
system, under which every circulating
dollar shall be just as desirable as every
! other, and which shall be free from all
threats of disturbance for political pur-
poses. In brief, we have need to take our
finance out of politics. 1t is to that end
that the World has urged the appointment
of monetary commission of experts to
devise a permanent system.-N. Y. World
(dem).
The new tariff bill will doubtless prod
uce ample revenue when ii shall be fair
| ly under way, but until then the govern
ment credit must be maintained, and 1t
can be done only by resort to loans. This
method has been adopted by the presi
dent, and il is a manly assurance to the
country and to the world that the credit
of the nation, so vital to the success of all
enterprises. will be scrupuously main
tanned during the entire term of the pres
ent administratiOn.-Pha Philadelphia Times
(dem.).
Let the government issue bonds, by all
means; not only for the present needs of
the treasury, but for all other needs that
may be developed in the future. Lee il
be understood, in fact that there Is to be
no more question on that point at any
time or under any possible conditions.
There is no reason why this great nation,
with its bOundless resources, should be
constantly assailed by financial depression
and alarm. We should have done with
such blunders and disasters forever
Washington Post mug).
Congress should provide, by an increase
/ in the duty on sugar or by some similar
means, n sufficient income TO pay all debts.
There could be no worse folly than to
drift into condition of chronic deficits,
borrowing money from month to month to
meet the needs of the government. If
this continues il will be only Il question of
time when our credit becomes as bad as
that of those countries which are steady
borrowers. We need more courage and
sense and less populism and demagoguism
in dealing with this question of income
New Orleans Times (dem.).
The gold reserve is now about SCI, OOO,-
600. 1t should be 1O0,O00.00O. The issue
of the proposed bonds will keep it at or
nearly the latter sum. and thereby assur-
ance will be given to this and to all coun-
tries with which this people have dealings
that the national credit, upon the integrity
of which private credit is so materially
founded, will be invincibly maintained by
the government. The advantages of this
policy will, we believe, be made manifest
in the strengthened condition of Ameri-
can securities abroad and the consequent
indisposition TO export American gold
Philadelphia Ledger Qnd).
1t must be entirely evident to every
thinking man that radical currency legis-
lation is a necessity of the immediate fu-
ture. If that fetch gold reserve is to be
maintained some special device for its
maintenance other than the sale of bonds
every six months for gold drawn from the
treasury must be devised. The New York
Herald and other papers which cannot
see beneath the surface of the currency
question suggest that gold be obtained
by making all customs duties payable in
gold. What then? Where will importers
get the gold wherewith to pay customs du-
ties except from the treasury? Legal ten
ders will be exchanged for gold and the
gold paid into the customs collectors. EX-
tremists say retire the legal tenders. And
contract the currency? Add to the motor
ious appreciation of the price Of gold and
the corresponding depreciation of the price
Of labor and labor's products, which all
currency reformers-even those bitterly
hostile to the free coinage of silver-ad
nit is now going on ?-Chicago Times.