The Monticellonian., 1894-10-19
STEVENSON'S SPEECH.
The Vice President Talks on Dem-
 ocratic Achievements.
Conditions That Confronted the CIeve- land AdmInistration-Bene Ac- cruing from Democratic
 Measures.

land AdmInistration-Ben Ac-
 cruing from Democratic
 Measures.
 FELLOW CITIZENS: In the presidential con test of 1892, the battle was fought and won by the democratic party, almost upon the single issue Of tariff reform Upon the issue of re- duced tariff taxation, upon the necessaries of life as against high protectionism MT. GteXe7 land was elected and the democracy restored to power. For the first time within q third of a century the democratic party on March 1, 1893, controlled the presidency and both houses Of the congress Under these conditions the country had much to expect Of the great hls- toric party now restored to power. How has the party kept faith with the people: What steps have been taken along the pathway of tariff reforms Has the democratic party but kept the word of promise to the ear and broken 1t to the hope; or has it made an earnest effort to make good every promise made in it's platform and upon the hustings2 This IS the question now submitted to the peaceful arbi- trament of the ballot
 Give me your attention. my follow-citizens, and ' shall endeavor to show that the demo cratic party has kept faith with those who in trusted 1t with power; that against monopo- lies, fostered and strengthened by more than third of century of republican Legislation long strides have been taken along the line of true tarif reform
 Ut must not be forgotten that at the close Of President Clevelands $ first term on the 4th Of March lss0 the republicans came into power the beneiciarles of four years of wire and economical administration Of the government Business conditions were favorable, the conn- try prosperous, and tho annual revenues were little less than one hundred million dol lars in excess Of it's expenditures The queS- ton as you will remember, then was What shall we do with the surp1ust All this was the result of the able and economical policy and methods of President Cleveland and his political associates in cabinet and congress- Four years later, when the republicans retired from place and power they left no such Yex4- tiOus question as What shall be done with the surplus; to torment the incoming democratic administration. Had the republican adminis- tion continued month longer the necessity for issuing bonds in order to meet the current expenses of the government would have been imperative There could have been no pos>i- ble escape from it. As 1t was the evil day was only tided over by postponlng the payment Of matured governmental obligations. The present chairman of the committee of Ways and means Of the house of representatives has publicly made the statement that the last re- publican secretary Of the treasury stated to that committee just prior to the close of the Harrison administration that additional in come of fifty million dollars year was necessity.
 tI beg you to mark the contrast The re- publican pirty at the inauguration of Brcsi- dent Harrison was the heir to all that Gieve- land and his p9rty had achieved during four years of successful administration As l have said, they found business conditions every where favorable the treasury overtlowing, the co5ntry prosperous. Four years later, on the 4th cf March. 1878, the republican admiaistra- ton retired from power, leaving dep.eted treasury governmental obligations undis- charged, and the country upon the verge of bankruptcy.
 "1he all-impertant question now arises, what was the cause of this2 Why surplus revenues and business prosperity at the close Of the democratic administration, and a bank rupt treasury and the country staggering upon the verge or financial ruth four years fater, when the Harrison administration retired from po~eIf It was, my fellow citizens, the logical. the inevitable result of the enactment Of the Nick inley tGrid law a law that will take it's plGce in history as the crownins act of the 6il- dollar congress, both branches Of which, as you know, were under republican control. The Mckinley Inv increased tariff taxes np5n the necessaries of life to q point far beaond the highest rate hitherto known to our his tory. In its effect upon foreign importatlous, Il was, in q largo measure. ptohiDitory tlrf. The intention of it's authors was to give the market to the home manufacturer and allow him. Ut his own sweet will. to increase to the consumer the cost of all the ne, essItics Of life. How was this to be accompiSheds S'mpiS by so increasing the tar1 tax as in many in stances to absolutely prevent foreign compe- tition But this was not all The Mckinley law not only largely increase d to the consumer the cost of all articles that enter into daily consumption il dcprsed the government of it's Gccusto ci revenues revenues abso- futely necessary to meet the daily and hourly xpcGses of the government. The iHaorta- ttonS being cut off. of necessity the revenues were cut of. iS it to be wondered. then. that under the operation of the Mckinley law. tho surplus lest by the Cleveland administration disappeared and GrAelt threatened our na- tional treasury Thus as you will see, the in- evitable effect of the Mckinley law was. first, To increase to the purchaser the cost of his goods and in the second place. 10 deprive the government of revenues absolutely necessary to meet it, current expenses
 NOW, my fellow citizens, it is not difficult to understand why it was that the heritage Of the second administration of President Cleye- land from it's republican predecessor was d de- plCted treasury. 1t must not be forgotten that one provision Of the Mckinley law re- quired the annual payment of a bounty to the sugar planters for Q long term of years This leaHty exceeded in it's aggregate for the last fiscal year the enormous sum of twelve million dollars The eHormity of this legislation | will net now discuss. 1t has at the ballot box re- eeived the unmtstaksbie condemnation of the American people
 'I have POW given in hurried review some thing Of the conditions that confronted the in- coming democratic administration on the zth Of March. l5q3 and of the ill-advised legisla- ton that brought to this sad condition the treasury and country You cannot have for gotten how earnestly President Cleveland and his political associates gddfes sed themselves to thc task of making good their promises to reduce taxation, nor can you have forgotten the unfortunate conditions prevailing at the time this great work was inaugurated Busi- ness was paralyzed, the workshops were closed the great army Of wuge-earners in en- forced idleuesS and poverty end want the com mon lot. IL is no figure of speech to say that literally men were begging their brothers Of the earth to give them leave to toll
 Bear in mind. that this was the actual con aiton while the Mckinley law was still in force and before an arm lad been lifted by the congress to change the existing law These are the stubborn facts with which the republican leaders arc now confronted What is their answer What explanation do they give you us to this terrible condition of our business industries under the Mckinley law their own darling enaetments They can not deny the fact that these conditions spranR Into existence under the Mckinley law. but they tell you they were the result of a want ef confidence felt by the country iu the demo- ,ratic party, As this has been the burden of their complaint ill the press and upon the stump, let it have careful examination. What $ their charge That the financial depression under which the country was stagg ering when the democracy came into power, was caused ey an apprehension-a fearful forebodinR upon the part of the American people-that Plesi- ient Cleveland and his party were incompetent 10 administer the government and that all was to suffer derangement if not paralysis, by the threatened reduction of tnriT +aNntiou beo Vou to rafect u-,or tb;s