Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1895-05-23
ADDRESSES \ LARGE AUDIENCE
IN CONlNGWN.
THE HISTORY OF FINANCE
Goes Into all the "Details OF the Sub
JtNt From the Foundation nt the
Gov crnmHul Ills kemarkS We're
NNriNei with Great Enthusiasm
Features Of the Speech

Treasury John G, Carlisle addressed Il
large audience here on the subject ot
Sound Money The speech was very
lruSlay one, and Went into all the de
tails OF the question from the tounda
uou OF the government. The Scrt>,-
taN'S remarks Mere received With
great enthusiasm.
MC carlisle said. among other
things, '"Whpu Mr.. ClrNrlanu'S first
administration went ont OF office ON
the lth day Of March, lS>l the goN
runrul had an ample revenue tor all
purposes; the free gold in the TREASURY
to Sl9G,GS9.Gll; agriculture,
manufacturers, aud rommrrvr were in
4 rwSuNahly hmlthy and prosperous
condition, and the prospect for the con
tinuauvr Of a fairly active business
ora WAS apmWntly rs good MS it had
been for many years, During the four
years OF MIR ClrNrland's admmiSuH
on the public debt, and at its cloSr
there was left In the treasury Il bal
anrr of $,Sio.3tS91G, Including gold II
serve. This vast sum had boon arcum-
ulAtrd 10y taxation upon the people,
and they had Il right to expect that
it would be faithfully applied to the
of the public debt and
TO the payment of the necessary cN-
prnSrS of the government without
waste or rNtrHNa glucr; but II requires
u worry hrinf StnItnn,nt ,f ihn rhSnltu
of President llarriSun'S administration
to show how these just expectations
We're disappointed. When his admin
iSlration closed on the 18th Of March.
1873. and Il democratic adminiStrl
came in again, the cash balance IN the
45o,1I7, including the gold reserve, or
St.. i1O. 81 exclusive of the reserve,
Notwithstanding the payments upon
the public debit during his term
to sos, 600 900 less than the
payments made during the preceding
four Years In addition to the actual
receipts of the government, which
were very large. CongWss, 10y n law
passed in 1880, turned into the treas
rry. rs part of the general assets
to be used for public purposes. Il
trust fund amounting To moro than
sol. 100000, which belonged to The ma
tiUna banks and had always been
held for tn" redemption of their notes,
and this fund. or what was left of
It, helped to swell the balance at the
aInGh ~ a. admin iS.tI : inn
There came with President llarr
son republican congress. and for the
first two Years Of his administration
that party had absolute control III
both branches Of the Legislative de
parDmcut as we'll rs IN the executive.
and was therefore wholly responsible
for the government of the country.
TIA, congress- Will he distinguished IN
history for three things only: First,
the enactment of the law of July II.
1880 providing for the purchase of t.
aOuuOO ounces of silver hmliOn each
treasury notes to pay for IT: secondly.
the passage of the So-Callcd Mex inlcy
tariff act. which largely Increased tax
alton upon the people and nj he same
time diminished the revenues Of the
government; and. thirdly, the inaugu
trayagant system Of public cXpcnd
lures that ever existed In this country
in time of peace, the evil effects of
which must continue to br felt for
yoars ~ came The rpypuupg hul bppl,