Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1896-08-13

Out ny means Oh 1ncOHtrOVertA-
BILE Facts and Figures Combined
With Logical Utterances That All
May Understand.
Alexandria, Mimi, Special, Aug. 2.-What
Senator Nelson intended to be quiet talk
to the Young Mems Republican club here
last evening was by the demands OF the
people developed into big mass meeting,
crowding the capacity of the opera house.
The club on Wednesday invited Mr. Nelson
to address it before going out to take active
part in the campaign. He consented, pro
vided the meeting should be just quiet
one Of the club and its friends. 1t was
soon found that this could not be done
and the club engaged the opera house. 1t
was a splendid audience that greeted the
senator, and the greeting was compliment
to him. His address was one OF the most
complete and admirable landings OF the
financial question delivered in this state
It was clear, simple and conclusive. 1t was
we'll received and was especially note
worthy in contrast with Mrs. Leases har-
rangue last night. 1t had a marked effect
on public opinion. Following is the full
text Of the senator's address:
In 1865, at the close Of the rebellion, the
interest bearing debt of the United States
amounted to ISL $50, 204, all Of which had
been incurred in carrying on a great war
for the preservation Of the union. From
that time till 1898, under the direction and
auspices of the Republican party, our rev.
enue and tariff legislation was adjusted
and maintained so as not only 10 aHord
the necessary encouragement and protec-
ton for American enterprise and American
labor, but also to give Us each year rev.
enue sufficient for the current expenses
of the government with a moderate surplus
for the gradual reduction of this debt.
Under this system Of legislation the Dur
dens of government rested lightly on the
shoulders of the people, and our country
grew and prospered beyond precedent and
expectation, and to an extent that sur
prised and astonished the other nations
of the world. In 1890, 81 and ~ we
were the wealthiest, most prosperous and
happiest nation on the face Of the earth.
The immigration that came to our shores
in large numbers from all quarters OF the
globe during these years bore ample evil
deRce of this fact. From lS66-year Dy
year-till 1898, the Understanding public
debt was reduced from the surplus revenues
of the treasury. On the first day of March,
1893, this debt had been reduced to $780,
O34, 26O Since then, as you all know, there
has been no reduction.
When President Cleveland came into
Office, in his first term, on the 4th day
of March, 1885, the government was opef.
ating under the Republican tariff law OF
1883, and there was a surplus in the treas
urv. exclusive of the coin redemption re-
serve, Ct upwards of $1OO,OOO,OOO. This
tariff law remained in force during his
term, and by means of it he obtained an
average annual surplus of D7,OOO,UlO,
which was applied to the reduction OF the
public debt. A Republican senate, Repub-
lican tariff law, and the surplus revenue
arising therefrom, made his first admin
istration much less Of a failure than his
second. And yet, as appears from his sew
eral messages to congress. he was con-
stantly grumbling about the surplus and
constantly pining for Wilson tariff Dill
to destroy the surplus.
The Mckinley tariff law was enacted
during Harrison's administration, In Octo-
ber 1890, and though it effected consid-
cradle reduction of revenue, especially
through the repeal Of the duty on sugar,
nm ample amount of revenue, with modest
surplus to meet unexpected contingencies.
From October, $780, till Cleveland was
again elected president, In November, 1897,
there was an aggregate surplus OF $500
GAL derived from the current revenues of
the government, which was equivalent to
q monthly average Of 81, 129, S21.
Cleveland entered upon his second term
March 4, 1898, and with him came into
power a congress Democratic in both
branches. He was no longer handicapped
or hampered with Republican senate or
what he had pined for during his first
administrator free trade or revenue tar
iff-was now good. The country took him
and his congress at their word, and hence,
though the Wilson bill did not become a
law till August, 1894, yet it took effect
upon the revenues of the government and
the business of the country as soon as
Cleveland and the Fifty-third congress was
elected. The threatened tariff legislation
frightened the Industrial and manufacturing
world and drove both capital and labor
out of active employment. And the con-
tinued, forced and
Excessive Silver Imitation
under the purchasing clause of the law of
$780, forced upon us by the silver magnates,
frightened the financial world and led them
to fear that the country was on the eve
of silver recommendation and financial up
heayal It was this fear that, in 1893, led
TO the great Withdrawal, Of money from cir
culation both by the banks and the people,
and to the utter suspension Of payment in
many instances People who had toiled
and saved for years, to lay up modest
competence for the decline of life, Were
loath to put their money into active use,
for fear that for each one hundred cent
dollar paid out, they would be compelled
to accept so, or at best 6O-cent dollar
In return, for that would have been the.
undoubted result Of silver monometalliSm.
Those causes, together with the results
OF undue speculation, excessive expansion
of business, and over production in many
branches of industry, were the leading fAc-
tors of the crisis and currency famine OF
1893
At such tuncture and under such condi
i