The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1894-11-25


cratic packers" stood In the path Of
progress until they checked down the
throats OF the people law that 10 only
better because il 10 less than what IL die.
placed. Thus was Mr.. Cleveland
backed" again in his efforts to execute
the orders OF the people.
The idea that Mr.. Cleveland could or
should have taken steps to avert the
panic IL simply puerile. 1t betrays In
its possessor an inadeq nate knowledge
Of the situation. and inability to com.
prehend the relation OF cause and effect,
or an entire mieconception OF the pow
ers and functions OF the executive. One
might as we'll ask that q signal service
official avert storm that his observa-
tions have dlscernsd in the distance, bus
which is the product OF forces beyond
his control. The epidemic OF financial
disaster that swept over Us began ito
career not less than two years before
Mr.. Clsve'and's second Inauguration, in
q foreign cline and Republican econom.
| ic ignorance and financial jugglery had
thoroughly qualified this country for it's
reception. Independent OF this cause
we were rapidly drifting into q "home
made" panic. We have been travelling
the ruin road for nearly thirty years,
and the best evidence OF this was found
in the unstable condition OF our finances
and demoralizsd etate OF our industries
when this imported financial plague
struck US. Mr.. Cleveland, almost alone
among our financial men. fore.
saw this, and his notes of warning
were sounded in the letter he wrote to
the Hon. A. J. Warner regarding the
coinage Of silver, just previous to his
first inauguration, and in his tariff mes
sage Of 1887, forstelling the dire results
invited by our unsound financial policy
and burdensoms and restrictive revenue
laws. Events have verified the presi-
dents diagnosis and vindicated his
judgment. Doubtless many honest
tariff reiormers believe that the
president should have called an extra
session OF congress-. soon after his last
installation, to legislate upon the tariff,
thinking that II he had done so that either
q more radical tariff measure would
have been enacted. or the edge OF the
panic blunted. But the president wa. in
this instance, what he nearly always is,
right; and in standing firm against the
clamor for an extra session he performed
one OF his most distinctly valuable SER
vices to the cause OF tax fsfrm. No
chief magistrate has displayed broader
comprehension OF situations. or exhib-
tied 9 mo:e delicate power OF analysis
in the confederation OF the complexities
which = mysterious providence and
ed the country. When he reassumod the
duties of Office, the first ripples Of the
tidal wave of panic were already wash
ing the foundation of our financial in
stitutions. The early collapse of many
OF the latter had only been avsrted by
the expenditure OF the treasury surplus
by the Harrison administration 10 the
purchase Of bonds not yet due at most
outrageous premiums. Mr. Cleveland's
administration could not do the latter
even if it were go questionably inclined.
for it found the gold reserve reduced
to the danger line, and bankruptcy in
sight. The panic was destined Ii had
to be. 1t bore q distinctively financial
hue. 1t was best to let it retain that
hue, and in no way entangle the tariff
with it. The Rspubli stump speaks
ers and organs. in ignorance and menda-
city, had told in doleful terms through
out the campaign OF 1892 that the tariff
legislation consequent upon Democratic
victory, would produce just the disasters
which did actually occurr in the sum-
mer Of 1898, while the Mckinley
bill was stll in force. Ii congress hi d
been called in extra session and passed
any kind OF tariff measure, the succeed
ing panic would have appeared rs o
literal verifcation OF Republican pro-
phecies, and the cause OF tariff reform
would have received o setback that
might have endured for generations
The opponents OF equitable taxation
would have held 1t up before the un-
kar I'll
would have been prima-iacie case
against Democratic tariff regulation,
and the task of demonstrating that the
distress of last summer could not be
made the effect OF Democratic cause
would have been Of gigantic proportions.
! But, thanks to the far-seeing statesman.
| ship OF President Cleveland. not the
faintest connection can be traced be-
tween this business uphesval and the
Dsmocracy's tariff MEASURE.
The enactment OF the new tariff, sub.
seQuent to the panic, has left the fight
for tariff reform without the embarrass-
ment Of having to explain any apparent
bad results.
The assertion that the influence OF the
administration was used through Score
tary Carlisle to enable the sugar trust to
carry its point is an inexcusable mis-
statement. Presumably the secrstary's
letter to a committee OF the senate re-
garding the relation that the sugar duty
bore the governments necessities 10 re-.
ferred to. This communication con-
tanned simp pie statement OF fact a. to
the needs of the treasury and the
amount of revenue that would be pro.
duced by duty on sugar, and no in.
dorsemsnt OF the diffsrsntial that the
sugar trust desired and obtained can be
twisted out of it.
The administration has certainly ia
vored a revenue duty on sugar; but most
positively opposed a protective duty on
refined sugar for the benefit OF the
eugar trust. In all tariff for revenue
schemes sugar has been considered a
proper subject for duties. 1t 10 to be
hoped that the time will come when the
American people will devise a more
equitable, economical and sensible
method of raising funds for the govern
mental expenses than the tariff: but 80
long as they have the latter, equity and
expediency demand that the tax shall
be laid upon those articles that are most
generally and largely consumed, and
sugar is of this claee.
The accusation that the PRECEDENT has
"peddled out the Offices among his ad-
mirers" is of doubtful foundation, to
say the least, and unimportant il true.
He could hardly be expected to dis
tribute them among his detroctors. But
it is Of no moment to the people OF the