The times. [volume] (Richmond, Va.) 1890-1903, 1895-05-21

! t'v0P'ipus condition, ana the prospect
! ior Tho continuance OF a fairly active
/ business era was apparently as good as II
naH been for many years. During the
! -FOUR years OF Mr. Clcvcland's admnistra-
/ uou. the sum OF S}n. 1919 was paid on
I ,Sne public debit and a. lts close there was
I LETT in The treasury balance Of $5D3is,-
| tio, including the gold reserve. This
/ vast sum had been accumulated by taxa
| lion upon the people. and they had a
/ right 90 expect that j. would Doe faith
! iuliE applied to the cxtiuRuisnmcnt OF
/ ihe public debt and 10 The payment OF
/ fne necessary expenses Of the Govern
ment without waste or extravaganza.
/ bat u requires very brief statement OF
/ The results Of President Haffison's adj
] miuieffatiOn 90 show how these just eN-
/ pfciduons were disappointed. When ms
J administration closed on the ifu or
I March. 1893. and Il Democratic admins
| tration came in again. the cash balance
/ ln the treasury had dwiudled down 10
/ Nlt2. i51.lU. including The gold reserve, or
( $50 $3.50. exclusive OF the reserve, not
| Withfidudine The payments upon the pup
! DIE debt during hls term amounted 90
! during the preceding four years. ln addi-
! zion fo the actual receipts OF the Gov
/ ernmfnL which were very large, on
! gross. boy Jaw passed iu lSD turned into
! the treasury. as part OF the general as
/ scts tp Doe used for public purposes. a
! trust fund amounting TO more than &t-
/ rtH" which belonged 90 the national
! banks. and had always been held for me
/ redemption of their notes. and This fund,
or what was left OF if. helped 90 sN do
/ fhc balance az the close or the admins
traton
WORK or THE RFrUBLICANs.
There came with President Harrison
I Republican Congress, and for the FIRST
TWO years OF his administration that pare
I ~ H. foeieiaffyo deparfmrnf as won
. 81. .l.l ,.,..,,tff ,.r .,.I ,,..e tIaraforo
,..eoii, ,,sr.c,.iij' for thl ,,oternuilnt
! OF the country That Congress Will De
.f t-i-et 3D.. .,...t,s,,t ~ "a. Law of
-s iit w. .t, nm. e.s..
~ - -l.,.i. ,.,i,,.ee - eu,rr Inliinn rach
,,T ,. tt i.s.t p, - f,+-la, fr,..s-
90 ".-t '.' ~ ~ .,.,it, ,, ,.,'e
..t, or ti,e .c-saiio5 Ncl(irie,. farIff '.ict.
which largely I creased taxation upon the
people ana at 01o same time diminished
tI. revenue. of fho Government. and.
ffnlIr fha inauguration OF the most
,t..fofid and .xfr4vapanf system OF pub
/ Nr cXueulifuros that over existed iu this
country iu time OF peace. the ctil effects
/ az which must continue fO nc felt for
. .,. a. conn. Tho result of this LEXIS
iafion and Of tho rcucrsl policy of the
/ Donlihlirali administration was that when
the Democratic party secured possession
! Of fho executive power for the second
limo 30 found the financial affairs OF the
Glpcrnnpnf iu a most unsatisfactory and
pr'carious condition. and rapidly grow
/ Is diminished and the current expenditures
L.l I.ln .rorr1oifelv increased bv the
n.-saco of iaws making permanent ana
atrcr annronriatione which tho treasury
.. 1I,id H. f.s,. th. rornrffla0rv uur-
't... ~ .nrlr bt,iiinn and fhe issue Of
fag.fferder treasury notes were sim e0-
i,, or and silver was being piled uu u
tI, t,.....tiru 20 fh0 rate of moro than 1l4
IONS NOR ru0ufh. distruSf Of our ability
.,,l.r' tho circumstances 10 meet the
obligations of tine Government and maiu-
.f 3D.. ,..,ft, az tla fuo metals Qrc-
..,if.d ,,d ,,..t fn.reasin,, fn ain the great
fran.Ial centres af homo and abroad. iu
..,.s.,norra of which gold To- the amount
- 49,, .ta, sls -ulOfa had h0ou with
drum IRON, he treasury and shipped 90
other countries during Inc three months
inst preceding tho Inauguration of the
now administration. and not dollar hdd
boon brought Jon. ir short uuKi-e ifeis-
f.fton had already rrodurpl ifs inevitable
r.enife and whatever criticism the im-
r.tIlf,i cririf of "A dfeauuOinffd and rost-
f. ,l.rf. may have urOuufcd them
fo mako unou the present administra-
rou ann sure impartial history will
rIarc Tho responsibility for what has oc-
CURED where In properly belongs. and
ann willing f0 wait until b. Is written. IT
must NOT hc understood from this that ]
ann not ready ar add times 90 Vindicate tine
legality The Justice. and the good puurl
of Tho course pursued hV the present ad-
minisfrauon Boo its efforts 90 maintain
tho credit ana honor of The 1oNeinmr DOT.
iusuirO confidence among the holders of
fv and value of the various kinds OF cur
rcn.r fn Tho hands Of the people. hui tne
present aud future are far moro import
arr fh9r tho past. and mv time can be-
moro f,rnff4hlv euulOvc1 ON this occasion
81 discussing fhn Questions now pending
fnau in r.Nifvine transactions already
r.sal