Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-11-14

title which is not recognized by any civ
iliZed government. The United States must,
of course, insist upon the proper adjust
ntent of this question and must enforce the
Monroe doctrine There is not the slightest
danger. however, Of war being provoked be-
tween the United States and Great Britain.
All that we require is that the whole ques-
tion should be submitted to arbitration and
there properly adjusted and England will
surely agree TO this even ntually. There is
absolutely no possibility of her carrying
the matter to the point of endangering war.
We need no great armament nor coast de-
fense. We need no preparation for war.
England herself has most to fear for such
hostilities. An embargo ON Great Brtains
commerce with the United States would
overthrow the government and mark the
beginning of the dissolution of the British
empire. She could not for minute think
of running the risk of such consequences
would surely follow hostilities with the
United States.
."rA American people are very strongly
fixed in their views as to what our foreign
policy should be. They insist upon great
firmness and positiveness in dealing with all
matters relating TO the western hemisphere,
and they care very little about the concerns
of the eastern hemisphere.
Increase of the Public Debt.
aside from this question the increase of
the public debt and TIE great disproportion
between taxation and the amount of cur
Ieople. This is chiefly a matter of admins
tration, for our currency laws do not differ
greatly from those of France, where the cir
culation is larger in proportion to the popu-
lation and the taxation less. 1t was appar-
ent when the Fifty-first Congress adjourned
that one of three things must be done.
THE expenditures must be cut down, the
public debt increased or the volume of mon
ey increased to tighten the burden of taxa
ton. The people will net stand more taxes,
irpr al
and increase of the volume of currency
with a reduction of expenditures is what the
public demand. The Fffty-first Congress in
creased the fixed expenses of the govern
ment by contracts extending over a period
of years to the amount of one hundred and
seventy odd million. The succeeding Con-
81 esses could not avoid these expenditures,
and while they might have made some Ie-
ductions and should have done so. IL was
not an easy thing to bring about, and the
expenditures continue practically up TO the
high marks set by the Fifty-tirst Congress
except for saving on pensions. The taxes
Of the people of this country, federal, state
and municipal, amounted in 1891 to abodt
$1,0I5,OOo,0OO, and the per capita of cur
rency was only about in the neighborhood
of S23
1.-The amount of taxation in proportion
to the amount of currency in circulation is
exorbitant. The per capita of France,
which has been most successful, next to
Belgium in preserving the prosperity of
her people, is stated by American statis-
ticians to be So; but, as matter of fact,
according to the French statistician it is
So; and though her debt is large. the ratio
between the taxation and the volume of
currency is such as to make the taxes least
burdensome.
France maintains her volume of cur
rency without difficulty composed of gold,
silver and paper and she is the best off of
ali nations. She never suffers from any
raid upon her gold. There is no defect in
our law which subjected us to such a raid
nj France q
have suffered arises entirely from the ad-
m:nistrative policy. There is nothing in the
law which compels the gold payments, and
the administration might manage and pro-
tect its currency under existing laws very
much as France does, if so disposed.
Enlargement of the Currency.
with the great burden of taxation
be an enlargement of the currency. This
might he done on the gold basis by the sale
of bonds and a very large increase of the
public debt This method, however, will
never meet with the approval of the Ameri-
can people The government has always
heretofore endeavored, at all possible sacri-
flee, to avoid an increase of the public
debt, and there is 4 popular resentment of
any such increase. TIE refusal of Coli-
gresS to authorize a bond issue, even at a
very low rate of interest was equivalent to
declaration that there should be no such
issue, ana do not think there is any posi-
bility of the present Congress authorizing
any bond issue.
The only other means of Increasing the
volume of currency is by providing for
either more paper or more silver. The
silver currency is unquestionabiy more
stable and more to be relied on than such
volume of bank currency as would be
necessary, the bank currency depending.
as it does. upon the policy. whim or profit
of the bankers who issue it.
"As far as the policy of the democratic
party is concerned my individual opinion
is that the course for them to pursue in
order to regain what they have lost is to
unite and earnestly. perSistently and con-
sistently fight for lower taxes, more eco
nomical expenditures and larger stable
volume of money.