The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-22
A GREAT STATE PAPER.


A GREAT STATE PAPER.
The last report of Secretary Carlisle
to congress is a state paper of great
strength and value. The circumstances
are such as to make Mr.. Carlisle alb
solutely fearless and absolutely impair
tial; and it is only when their officials
are thus freed from prudential re-
straints that the people hear the truth
about their affairs. This administra-
ton is about to go out of power. With
the party that succeeds it Mr. Carlisle
has no utilization. His attitude toward
the principal party in opposition at the
last election was such that he need
conceal nothing and distort nothing.
He has told the simple truth about
our finances, and pointed out the way
that this country should follow if party
were reduced to nothing and patriotism
were its accepted guide. We ask every
citizen to read this document. which is
brief, lucid and to the point, and to
make up his mind from the facts that
1t presents what shall be his platform
hereafter.
Three subjects assume prime imnor-
lance in the treasury report; the cur
rency question, the relation of income
to expenditure and the relation of in
come-raising to industry On all three
he speaks the words of soberness and
truth. There is large surplus in the
treasury 1t comes there as the re-
mainder Of the proceeds Of bond sales.
But nothing can ever make it safe.
nothing can prevent other bond sales
In future, nothing can give us stabil-
1ty and confidence in finance, until the
treasury notes and greenbacks are re-
tired from circulation. We have in
Cured bonded obligation which. with
interest, will amount to $641 900. 900 at
maturity, to protect the gold reserve.
A reasonably high price to paw for
Keeping out $346, 200 of promissory
notes, to say nothing of future demands
and Of the arrangement of business
Since the resumption of specie pay
ments we have redeemed notes to the
total amount of $3.50, 919, 1858, and all of
them have been reissued and are still
outstanding except $35, 121, 1922 Of Sher-
man notes. And all this to retain q
financial system that is a relic of war
exigencies and faulty, root and branch
The mere facts are all the support that
make it unanswerable.
AS to the raising of revenue Mr.
Carlisle shows beyond contradiction
both the futility and the needIessnass
OF hlgh protective duties. AS we have
so often reminded the public, protec
ton is essentially not a revenue raiser
but revenue destroyer The McKin-
ley act was styled an act to reduce
the revenues. In the present state IF
trade it is not to be doubted that to
raise duties is to lessen income. and
thus to add to our perplexities instead
OF sowing them. Moreover. Mr.. Car
hsle refers to the fact, a surprising one
TO most people we imagine, that one
fourth of our entire exports consists of
the products of domestic manufacture
These goods are sold in foreign mar
kets' in competition with the people of
whom the protectionists profess to he
in such deadly fear on their own terri
tory. They must be equal in quality
and at least as low in price as foreign
made wares. Therefore, the sham of
assuming that our industries need pro
lection against others whose markets
they are conquering steadily is fully
exposed. The last word Of truth is
spoken by Mr. Carlisle on this subject
when he says that duties must be i'm
posed hereafter with view to revenue
rather than to protection. This is
sound sense and craftsmanship and
brings us back by the logic of facts to
the old and valid logic Of theory. the
Democratic doctrine of "a tariff for
revenue only"
Most reeded Of all, it seems to us. is
the protest of the secretary against
the growing extravaganza of our con-
crosses. Written all over the walls of
the national capitol and in every legis-
iative hall in the land should be one
sentence of his report: What is most
needed at present is not more taxes.
but more economy in appropriations
and expenditures" This ought to be