Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1896-10-15
HoLsToN's DEMOCRATIC SPEECH.

g. L L
A. r. Holston, Of Crookston, ad
dressed a large crowd at the Opera
House on Monday evening in behalf
of the democratic party. His speech
was characteristicall rank and full
of glaring Interpretations, mis-
statements and falsehoods, few OF
which we will proceed to point out.
In his remarks on the tariff # he tried
to maintain the inconsistent position
that under the Mel cKinley bill the rate
Of duty was raised, that importations
increased and that the revenues de.
rived therefrom decreased. He said
that the Mckinley bill did not pro-
duce revenue enough and was re-
sponsible for the deficit in the treasu-
ry, but that is wholly untrue. In
1891, 1892 and 1898 there was in each
year an excess of revenue over ex-
penses. In 1894, the year in which
the German Wilson bin was passed,
there was a deficit Of SIS, 800, ,26l, but
that was not due to1the lMcK Kinley tar
if, but to the proposed democratic
free trade legislation. In anticipation
Of a change i'll the schedules and a
general reduction or wiping out Of du-
ties, importers refrained. from import
ing goods, as can easily be verified by
glance at the table Of imports,
which were nearly 2l2 millions dol
lars less than in thesyear preceding
Democratic tariff tinkering is respon-
sible for the deficit in 1894. In 1895,
under the German Wilson tariff the
deficit was $42, 1906, ,223. But the
speaker was very silent concerning
the change made in the sugar sched-
ule by the democratic bill which took
sugar from the free list under the Nc
Kinley bill, and placed a=tax on it Of
40 per cent in the interests Of thesu-
gar trust. Neither did he tell how
the democrats had raised the price 81
wool and encouraged the sheep in
dustry by their free wool schedule,
nor how the farmers markets for
farm products had been enlarged and
extended in the West Indies and
South America by the repeal Of reci-
procity treaties.
He said that the Republicans in
the closing days Of the Harrison ad-
ministrations had intended to issue
bonds and had the plates prepared
for printing them. That is true, but
that issue was not for the purpose OF
making up deficiency, as Holston
claimed, because none existed, but
for the purpose of strengthening the
gold reserve. Owing to the enormous
purchases of silver under the Sher-
man bill on falling market and the
issue of treasury notes therefor, Sec
retary Foster thought it advisable to
strengthen the gold reserve by adding
$25, 100000 more, in order to dispel
every doubt as to the value Of our
money. It was not to make up de-
fciency.
Another falsehood of Mr.. Holston' s
was his statement as to the amount of
money in circulation at the end of the
war in 1865, and at the present time,
and he gave the report of secretary
McCulloch as authority for his asser-
ton that the amount Of money in
1866 was more than $50 per capita.
The SHEAF denies that secretary Nc
Culloch ever made any such report,
and we challenge Mr.. Holston to
prove his statement by producing
said report, and until he does we
brand him as a falsifer of government
records and documents with view of
misleading the people.
In estimating the amount Of money
in circulation in 1866, he included all
evidences Of Indebtedness Of the gov
ernment issued to carry on the war as
a part Of the money circulation AT
that time there was outstanding a
vast amount Of tenn porary obligations
of the government in the form Of
notes, then due Or to become due in
three years, bearing various rates Of