Omaha daily bee., 1896-11-14
40 MORE DEBT

NO MORE DEBT
The intrrcst.benring debt Of the ma
tton has been Increased S2G2 100000
under the present administration, en-.
failing gu annual interest charge of
over Sll,OOOOOO. During the admins.
tatlon of President Harrison, from
March. 1889, 10 March, 1893, the princi.
pal of the lntercst-bcaring debt Of the
United States was reduced in amount
1888, lD2.gOO and the annual interest
charge was thereby diminished over
SiO,OUu.Ouu. The increase of the ma
tuual debt In time Of peace is indc-
fonSihc ana the party responsible for 1t
has never attempted to defend 1t.
From the year after the close Of the
war to the advent of the democratic
party to full control of the government
there was an annual surplus of rcvc-
nue. Under the operation Of republican
policy the national treasury had at all
times an abundant supply of money
not only for meeting current expenses,
but for reducing the public debt and
lcsscning the interest charge. During
this long period there was never day
when the government was embarrassed
for want of money, or experienced any
difficulty in promptly and fully meet
ing its obligations. 1t was more than
solvent and its credit was as high as
that of any other nation on earth. Its
paper currency circulated without the
slightest question on the part of the
people as to its absolute soundncSS and
it was preferred to coin for general
use. as it is now.
Trouble came when the success of
the democratic party threatened the
carrying out of its pledge to
enact tariff legislation destructive
of protection, together with the
attitude of large element of the
party in favor of currency dcbascmcnt.
The tariff legislation adopted is not so
bad as had been threatened, but it has
failed TO provide sufficient revenue and
the treasury deficits under II consider
ably exceed $1OOOOOOOO. This and
the repeated depletions of the gold
reserve due to financial diStruSt com
PEELED the government to borrow money
and the public debt has been Increased
in the last three years to an amount
exceeding the reduction made in it dur
ing the last republican administration.
There can br no doubt that this state
of affairs cXcrtcd an influence upon the
public mind in the late campaign. \
great many voters felt that the time
had come to put IL stop TO running into
debt. a large majority of them know
that there will be no necessity for issu-
ing bonds if II sound fiscal policy shall
be adopted and their verdict at the
ballot box, summoning the republican
party back to the control of the gov
crnment, was demand for the rcstora-
ton of n sound tariff policy and an
expression of their faith in the ability
of that party to give the country such Il
policy. Undoubtedly the prcsident-elect
and the republican leaders in congress
understand this and it is entirely safe
to say that they will do their utmost
TO heed the demand. There may bc
obstacles, but there is favorable promise
llltll lu'St VIII bt bNNlN'lll's ~ h'N
indicated, most of those senator's,
elected as republicans, who blocked ac-
ton on the emergency tariff bill that
was passed by the house, will support
measure to give the government more
revenue and afford better protection TO
those industries which require it. The
best opinion Is that all the republicans
in the next congress will be in accord
regarding legislation TO increase the
revenue, stop deficits and put an end
To bond issues. The republican party
is pledged TO do this and every man
who owes his seat in congress to re
publican votes should feel bound, as II
matter of honor us well rs of patriotic
duty, to do what he can for the fulfill
ment of that pledge.