Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-27

crershsp. Il has fallen. and place It upon
safe and defcnsihle position FOR future
contests II we EXPECT 10 win In the
future. obstinate and short-sighted Bour-
bOnism must 30 to the rear.
"The country IS now confronted with
steadily growing deficit In the Urea
sury. occasonCd by failure Of the re-
cent financial legislation 10 produce the
necessary revenue for the needs Of the
government. II is hoped that this Diff
Guilty will prove hut temporary. It Is
believed that with the country gradually
recovering from the recent depression'
with every prospect Of returning pros
peyity. with every likelihood OF Increased
lmy9rtations. with the additional INTERNAL
revenue prov id.d for bat not reaN2od'
there may reasonably be expected in the
lAxt fiscal year sufficient revenue 10 meet
the nations expenses.
THE FINANCIAL EMERGENCY.
But what - 20 ne done in the interim!
How IS the credit Of the government 10
be- maintained ana its liabilities hqui-
dated? Provision for additional revenue
does not seem now 10 b. feasible exist
ing legislation Is regarded as inadequate
lrt must be further invoked II no
thing else s. provided. and hence the only
alternative presented is the securing OF
~. ied funds ly borrowing. fNpnct anu
,...,uesiioned authority fer this purpose
9 .uld be granted by this Congress at
a.. 90. The emergency should he met,
ID. by mlirection. passion, or circumlo-
,s,tton. but rcsolutely. braVely firmly.
Whether the money is TO be borrowed
s'Duld bc raised upon bonds. treasury
notes. cxchcqucr notes, certificates or IN
9abteiness. or other means when are
usfaliv erploycd. or which may be de-
,iee1 is a mere matter Of detail. easily
adjustable. and which should not hinder
or preveut the concession Of the man
r.Ncf sought
No hostility to the present admins
ration: no present political grievances
and no factioaal differences should he
permitted 10 rctard immediate legislation
50 Indispensable at this time for the
maintenance Of the credit ana honor OF
tie government.
1T, arbitrarily refuse such action now,
n,,rss SOME legislation for silver Shdll
.~scela. accompany. or supplement H.
ami thereby compel the calling OF an
ezra season Of a Republican Congress,
.ho ra.eh. OF political folly, only
,luaI-l by the opposition - the repeal
a. the Republican Sherman law IN 49,
ana tho .oist.ng % an inc0Me-taX upon
the public IN lS4
HARD-MONEf PARTY.
In urging temporary financial relief l
u, not f1rsot nor underestimate the I'M
r-rtauce ana dos.rlb.li;y Of some a1pTo-
r~a.e LEGISLATION in behalf o. monetary
forms Neither - We forget thc lict
-r1t the Democratic party IS by tradition
avn interest the hari-money party. the
,.r,v that believes in the money OF our
..,r-rs. the money Of intrinsic value, the
r.~.'v wh.ch. IN the language Of the
Rational Democratic platform. holds 10
,le Use Of both god AMI silver as the
STANDARD m NY ~ the country, ana IN
s-s-s upon the maintenance of their parity
a- all times AMI In all places. To the
fu,l restoration ana maintenance OF haTd
money. AMI with al paper currency
made releemlble therein, the Democratic
party stands committed. In the carrying
o..t Of tina, policy. the gradual retire
,,ent AMI ex:.nguishing OF the United
Satea notes commonly known as green
hacks Is an important. If not necessary
son In The right direction. They are not
money according q The Democratic idea,
Hu- only CURRENCY releemaDle in hard
money. Re9ecmable in god coin on de-
rnaul. according 10 the direction OF me
statutes. by the Secretary OF the IItA-
-,,rv. they constitute a Standing menace
% the Treasury. constantly draining is
eola. importing the reserves, AMI neces-
stating the issuing Of bonds 10 supply
the necessary go,1.
\ POPULAR LOAN.
- baliev, that legislation is mand4d
from the present Congress providing Ior
tho gradual eXtinsuishme OF ms cur
reucv. and thereby relieving the treas
urv from H., dihicgltis which have been
mentioned, arl which VIII be cons 'ahuy
recurring so long ns such Curr ncy IS IN
.vi..ance. There IS no time to be lost.
r,,a money IS necessary for such pay
mont and ex.inguishment, am IL can De
.,rpllei through popular loan. Win 4
low rate Of Interest and longtime Sc
cur.tles.
80 Is difficult 10 discovery why the true
fria-Fs o. free b.me-a,lc coinage -
Congress r. elsewhere. should object - INC
.tminlt.on If thls Erccnback paper cur
rency. which IL Is now so generally con
coded should De- cancelled. Ih"y' on thV
contrary. should b. the strongest chalh-
Mons OF that policy. They must De shoI'
e.-htel. indeed. If thy 10 not see thai 'h1
very contraction involved IN t"e ie'ie
is.at Of this soft-mCney currency Woui'
surely pave tn way for th- SUBSTITUTE"
VI hard money in its place.
"ynr most Of the advocates OF silver
o., CONGRESS. with characteristic unWls-
dom. seem 20 regard il as th II Cu'y 10
ant4eou.z. every political suggestion III
ali az rconey-r- form. unless Il u.s. coupled
y,ith tho fuu ana instant relief which they
Sock. declining eV.n 30 assist N 'he very
proposition which is absolutely necessary
,r the eventual success or their own
T.. position 49,
They should be impressed with thu
thnN hone fC
obtain can only H. reached by adequate
and friendly lex station. 1t cannot b'
done b. magic, nor by miracle. 1t can
nor be prcmatureiy forced. The path
v.sv must be clearly defined. II is
business question. and it must be solveC
on business principles
NEW TARIFF LAW.
"The revision OF the tariff has been &C
confcI and has passed into history. Tx
legislation enacted. while not ideal MOI
All that many Of us expected, suhstan
tally settled the tariff question. Another
General revision "a not contemplated n)l
CrrircI i'm the near future, although
few notifications may be proposed II
conformity with Democratic pledges
Rut aside from these changes. the leSisla
ton has come 70 stay
III Is believed that the new law. aftel
tariff features commend Itself 70 the ap
rroval OF the whole people, and b
allowed. unless existing conditions shall
radically change. TO remain az the set
Ted policy Of the government
REFORM N NEW YORK.
sir. I'M devoted a few minutes TO {
carcastic review Of the reform" move
meAt that now has possession Of IN
city Of New York. and IN conclusion said
Let US not be discouraged nor dis
htartened by recent events. The tide vii
turn aga.n very soon Let as maintain
our party organizations intact. Let u
r,organize them. If necessary Let az
build them up and strengthen them. lie
us stand for the people rather than mer
eypcdisncy. let Us cut loose from cor
rup,lon Of every sort. 1t is time 10
unity, Tor patience. for courage"
r. u. ROOSEVELT.
The next speaker was Robert H. Roose
20, who made an exhaustive speecl
uuon the currency question. Tie sal.
tS4t most OF the troubles through whicl
ts.s country had passed had been due 4
it's defective currency.
The 10y Had Been Travelling.
(Chlcago Iutcf-Ocean)
800 IL 80, !,