Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-02-03

The present administration, he said ex.
hbits a bashful diffidence about acllnowl-
edging any deficiency of revenue derived
from tariff bereaved of its parents in
early infancy, but with their hands behind
them they may quietly take whatever
money congress may place III their hands
for the treasury, where the outflow of
gold has been so swift as to make even
the heads of the keepers dizzy Certainly
there is nos mathematical equation be-
tween the monthly receipts and the
monthly expenditures, and the public
debt visbly expands more rapidly than the
public credit.
Changes of revenue laws. or of duties on
imports of foreign merchandise, are al
ways troublesome to administer, as well
both to home as to foreign trade, and are
only advisable when demanded by poten-
tial reasons or when substantial improve
ments will justify the changes made. The
reasons now for change are abundant.
Quotations We're then made from the re-
ports of the secretary of the treasury
showing the deficiencies in revenue for
1884 and 1895, and the senator said that if
further evidence of a lack of revenue
should be asked it must be found in the
increase in our public debt. The deficit of
the revenue should be remedied as early
rs possible.
Reference being made to the financial
policy and condition of France, it was as
serted that silver in that country is main
taiDed ut par with gold because the gov
eminent long ago suspended its coinage.
and because there is no clustering silver
party and no silyer-plated Democratic
party there daily striving to pull down
their money standard to that of depre-
Gated silver; but they keep silver to the
amount of 1886, 900, 900 with s772 100000 of
gold on the ratio of 151a to |.
The United States has been the friend
and patron of silver to its own hurt, and
made large market for the white metal.
while many other markets We're closed 1t
has coined silver by the million and kept
it with all of our currency at an equal
value with
The Best Money of the World.
Under the free coinage substitute for
the house bond bill it was contended that
the government will be required to run
into debt for what it does not want.
ii our late Investments of nearly $780,.
100000 in silver have been VIGOROUSLY i'm
provident and Improbable, the disastrous
results will appear as. a drop in the bucket
from the enormty Of the present proposal
which is to open all of our mints to the
free coinage not only of all our own silver
product. but that also of all the world
excluding nobody from Dan to Beersheba
and to tempt a great increase in the an
nuai product, both at home and abroad
by Offering United States obligations fol-
1t at double the sum it now commands il
any other market.
The vast product, whether in silver bull
lion or silver dollars, once in the posses
sion of the government must stay there
4 forever. defunct as an Egyptian mummy
ms the public long ago refused to aid in it,
larger practical circulation.
In concluding, he said, in part: Their,
ara some gentlemen who confidently pre
dict the overthrow OF the gou standar
party, as though that will insure the en-
throncment of the single silver standar
party. I am not aware of a single gol
standard party in America, but there is