Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-27
ron SOUND MONEY
CONTINUED from page -

tending constantly to increase, while
the revenues Of the government were
constantly diminishing under tnt
operation of Mckinley tariff
ACHIEVEMENTS OF THE ADMIN
ISTRATION.
The Democratic administration was
nledged by it's party platform, among
other things, first, to repeal the exist
,ny federal election laws; secondly 10
raneal the Mckinley tariff law; third'
n repeal the Sherman silver purchase
law OF July IA, 1890; fourthly, to main
tain and honestly enforce the civil SER
vice law of 1883.
True to it's pledges the admlhis.ia
ton repealed the laws as TO feoerai
control over elections in the staies' l.
achieved a long step in the direction VI
lower taxes by the repeal OF the NC
Kinlev tariff. and the substitution OF
the present customs law; 1t repealed
the purchasing clause of the sherman
silver law: the President vetoed the
seigniorage bill, and, true 10 the piii
ciples of civil service reform, the Fresi-
dent placed over $4,000 Federal en-
Moves within the classified service
making a total of over 1000 thus IN
GUIDED
The dignity and honor Of our gov
arument abroad has been maintained
In the management of our diplomatic
Violations. The administration had the
courage to refuse to take advantage
ne Hawaii IN it's time of trouble. While
panublican friends for withdrawing
from the Senate the treaty OF annexa-
tion. vet today his course is sustained
almost without dissent as having been
honest and statesmanlike.
There has been marked improve
ment in our relations with the South
American republics, especially Chilli
this republic acknowledges complete
restoration of friendship and COM
plete blotting out of the i'll feeling en-
gendered in 1891.
The administration procured from
Great Britain a formal withdrawal or
all claims to a protectorate on the
Mosquito coast.
The Mora claim, so long subject OF
dispute between Spain and the United
States, was finally adjusted.
The neutrality laws have been faith
fully adhered to as regards the Cuban
revolt.
American citizens in Armenia have
had their interests carefully watched
over and protected.
A treaty with China secured impor-
tant privileges for our citizens resident
there, and prohibited the entrance of
Chinese laborers for 10 years into this
country.
The services of our representatives
in the war between China and Japan
were gratefully acknowledged by both
nations.
Careful investigation as to injuries
inflicted upon Americans was instituted
and punishment of offenders was pro-
cured
The treaty with Japan proclaimed
March q. 1895, recognized Japan as a
civilized nation by abolishing consular
courts. We were the first nation to do
her that honor.
It is unnecessary to mention the
Venezuelan controversy with England
and the course of the administration in
connection herewith Suffice be 1t to
says that if, growing out of the Presi-
dents message, there shall result a
general arbitration agreement between
Great Britain and the United States, ii
will constitute one of the grandest
achievements in this history of the hui
man race.
Lastly, but not least, during time OF
public financial peril the credit and
financial honor of our government was
preserved by the issue of bonds to OBJ
tain gold with which to redeem our
outstanding demand notes, thus carry
ing out the policy hitherto maintained
and specifically declared in the act OF
July IA, 1890, and the repeating act OF
Nov. l, 1898, of maintaining at a parity
both gold and silver coin.
In this latter effort. however, the ad
ministration had little, or at the best
haif-hearted support from the Repub
lican party The bill to issue golC
bonds and cancel the greenbacks, in
troducedsin accordance with the presi
dents message, was defeated in thu
House, the Republican vote being 81 tt
A in opposition, the Democratic vot'
being almost equally divided-91 sup
porting the administration and IS OPP
posing it, The request of the admins
tration for authority to issue three pc
cent. gold bonds in place of coin bonds
for the purchase of gold from the Nor
gan syndicate which, if granted, woul'
have saved the government $16,00O,00
in interest. was also defeated-the Re
publicans voting against the measur
So to 81, the Democrats "a to SO.
DEFICIT IN REVENUES.
1t is true. as claimed by the Republi
cans, that for the last three years tn
current revenues of the government
have not been large enough to pay tn
expenses, deficits resulting in eac
year. This has been caused, howeve
largely by the loss of revenue result
ing from the decision of the suprem
court pronouncing the income tax la
unconstitutional. The falling off las
year of imports subject to duty ha
also contributed to this result-th
latter fact. however, is not much a
luded to by our Republican friend
who were so fearful of the effects
Democratic free trade" The lare
surplus in the treasury. however, hs
easily made up these deficits, leavin
still an enormous cash balance on han,
The effect, however, on the circulatio
and gold exports caused by the payin
out of more than the government II
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