The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1895-03-02
THE REVENUE QUESTION.

AAAI MI VLNOI QOES llONs
Mr.. Reed, the eX Speaker, will not worry
in the least because of the criticism or the
abuse OF the party which was buried under
mountain of adverse votes last November
1t is not given to any man to be entirely
wise in every detail and every emergency
Mr.. Reed would have been wiser if he had
fatty opposed the Presidents latest cur
rency BILL basing his opposition distinctly
on the one feature of that bill which wa
contrary to the declared wishes of the people
namely, its attempt to retire the legal
tender notes. The bond bill by itself re-
quired little consideration. But the ad-
minstration bill No. 3 was simply dis
honest trick to get Republicans committed
to the retirment OF the legal tenders, which
the people have never yet authorized, and
against which three-quarters OF them
would to-day unhesitatingly vote.
About the bond business there is no occa-
sion for anxiety. The precise kind of bonds
which Il, publican administrations have for
twenty years found perfectly satisfactory,
and on which the latest Republican ad-
ministrdtion could have borrowed 500. O0O,-
600, if necessary, at two and one. half per
cent, would have been good enough for any
administration to-day if the revenues of the
government had not been thrown away by
Free Traders. The President obstinately
refused to admit the folly of his party, and
consequently would not allow an extra
session of Congress TO correct it, For that
reason and no other the people will have to
pay SIG, 600, 600 more interest on the bonds
proposed. 1t is a sort of premium which
they contribute for the blessing of having a
Democratic administration. Perhaps they
intelligence to put the blame just where il
belongs not upon the failure of Congress
to authorize some better kind of bond that
could have been placed most advantageously
by President Harrison but upon the refusal
of the administration to permit an increase
of revenue.
The currency question has been most i'm
properly mixed up with the question of
bonds in order to emharrass Republican
leaders. Without hesitation and without
difference Of opinion, they should have
o tcry of certain bankers for retirement of
legal tender notes was unwarranted by any
expression of public opinion, was prompted
BY no better motive than desire TO monop
Ollie the paper circulation and, was at all
events, entirely out Of place at this time.
Since there was no possibility of passing
bond bill, it was piece OF impertinence to
insist upon measure of the character pro-
posed by the administration. Whether the
Republicans, who have been charged with
responsibility for the government by the
votes last November, see fit to propose this
or any other change, they have right to
decide when they enter upon the discharge
of their duties. But it may be doubted,
and with good reason, whether they will
consent to put the whole note circulation
OF the country under the control of bankers
and there is strong reason to believe that
the people will refuse, as they did refuse
years ago, to assent to any such arrange
ment.
The wisest way to meet the administra-
tion trick was openly and fatty to refuse
the retirement Of legal tender notes as
a step in no way warranted by any express
ion Of public opinion nor justified by any
public need and calculated to sacrifice the
peoples interest for the benefits of bankers
or money lenders. Mr. Reed has been
perfectly right in maintaining that the
thing needed was an increase of revenue.
With that no change of currency OF of
bonds would have been wanted. Without
it no change of the currency would have
been Of any use.-Ncm York 7ribunc.