The herald-advance. (Milbank, S.D.) 1890-1922, 1894-07-27

- N
nf the panic was tremendous. But it was
hot all panic which produced effects 50
striking. The promise of tariff reductions
had Il profound influence. II al once led
to "A curtailment Of importations, and as
the time for reduction appeared to ap-
proach, the cutting down Of imports be
came all the more radical
The Administration and Pensions.
During the discussion of the pension
bill in the House of Representatives in
March. the Hon. William w Grout Of
Vermont, made n speech in which he
carefully reviewed the policy Of the pres
ent administration in regard To pensions
10 deserving soldiers and sailors. The
closing part Of the speech is worthy of Il
thoughtful reading, and is as follows:
The glimpse We have Of the workings
Of the pension Office is largely from the
outside. and necessarily quite general III
character; but the results we'll authentl-
Gated. stand out III bold relief. The meth
DDS. however. by which these results are
reached, beyond the outline | have been
able To give. are necessarily withdraWn
from public gaze. and SO not the subject
ot general discussion, The details OF each
days work we shall never know.
But. Mr.. Chairman. if the recording
angel were of this world. and could make
public a full report daily OF all the details
OF this pension office assessment of the old
soldier. with the number of pensions
reduced and the amount with the number
allowed and the per cent. cut OF ana
passed to the deficiency fund, with mum
Der dropped from the rolls, and the mum
Der rejected with the grand aggregate
saved To the treasury: and were also at
the same time to tell rs how many
soldiers homes this cold, Democratic
winter are short of fuel food and cloth
ing and hopelessly 50. too. for there Is
none say. if the recording angel conid
lay all this before us in sickening detail
each day. am | eAtravagant III saying that
an outraged public sentiment would de-
uounee i'm thunder tones in the first place
this tariff-reform' policy. the very
thought of which has emptied the treas
nry: and in the second place this pen
sion reform policy which coolly divides
the bounty the real heart-offering OF the
American people To the defenders OF the
flag. between them and the empty. mis-
managed treasury. Applause on the
Republican side.
Il know the amount paid Tor pensions
is large. and the government IS sadly III
need of money but better borrow 10 meet
all obligations. and especially those To
the veterans Of the late war, than to nave
II 90 down in history thai on hnal settle
ment between the government ana the
preseryers Of the mon the soverhihen'
brought in this iuggers rule III arlth
mote that twice q make and twice
make lO.
YES. the amount paid for pensions i
large. This bill carries more than t1fee
times as much as is appropriated tor our
army and navy.
But our war, navy and pension applo
nriafions all combined are not very hl,ch
larger than Great Britain eNpends on nef
ARMY and navy. and far less. some N,V.-
Onp oo, less than is expended by Icf-
many and some S25.OOu.aOU or S3o,ooo,-
600 less than by France, and that. zoo,
with this great difference that Ill those
countries this is a continuing eApehs.'
runniny with the life of the nation, Is II
ta.,, essential to its preservation; Whlie
with us the expenditure Tor pensions u
only for \ brief period. for a Single gehei
,tion. till the veterans Shali nave pasS'.a
away: and then it is forever 4 pa.rlo.,e
funi on more than compound interest:
~ ;s IN fact Il magnificent monument OF
- - cratitude of 4 free people to the vol
untaer soldiery of the Republic: ana 50
lnny as this government shall sfaha rs
,,,,n;t;.ant reward Of its citizen soidler!'
mon which free government must ai"a!S
ralv will furnish the highest possible as
snrance Of its future safety III ,ne noul -
peril. Applause on the htpr'',a; fpr TENSIONS ms, i
Rut Il is not wasted. nor does ~
1"' ,,t ~ the country like money pald
far thc purchase Of imported soous'
Is,.rv dollar is paid to our own citizens'
AMI hy them in turn TO other cl'izens'
.nu ,hns not only helping to swell the volume
- anr domestic trade. but ut the same
,;nn helping to keep in motion tne 81
~, ,;nc medium of the country. MONEY
M, haan called the lifeblood of 4 nation;
ia,.,use il is it's circulating medium. anu
.ame think we have not money enous'
r. tbis country. and cite the piesen' -"
d,ion Of affairs to prove !. !. ;,st .s
o..p "Rnt Mr., Chairman, there IS JUST as
p"' anav now as there was year
'nu' ., tho close Of the most prosperous
;lso :. vaar in the history OF the
pus ,.tr,. rhe trouble is, i Is not now
eouia. n;r,..rlation as it was then. FOR IN
III H. ann x15OOO. 900 less in round numbers
s'lnee .a,tared into the circulating. cur
Nas ~ trade in every part OF the
rei., i..,r,, for the first six months ot thls
counu'i, ...u yoar than in the first SIX montls
rs rs - year. viz: the difference III Hrs,
.',mants W Of pensions under Sohllnlssi9i. .,i..
pas 10. R.nm and Lochren. fiileeh pi Iliiiip'
dnl,ars. and who Will sa! 'ne ~. Mia,n o,,d
no of this sum from the ora solalei = ,a ,ha
a. the same time from ths ous.h ol:.h r. s+ar-
country. has nothing 70 w
alton now upon US. aron
~. =. f.ij;ng into pool Of water stlrs
o1 VII, a,a Of the millions OF particles IN
ever. Jndge. then. what effect Hlo,-
w nn, innn dropped into the CIRCULATING me
-, II the country would nave Iiau ~
dl,lh - tho stacnant pools Of trade. Ke,
Il fflis W. .h.t il is circulation OF the blood
~ ~, NJ icons alive, carrying nohrishniei,'
.ii''. ',.,rv nart Of the system ana VINO laiis