The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-17

sembled convention, delivered an inn
pressive invocation, which was APP
plauded. The secretary, J. II. ManIey,
OF the National committee. read the
call of the convention after which
Chairman Carter said:
"Gentlemen of the conventions: by
direction of the committee | present,
subject TO your approval, for your
temporary chairman, Hon. Chas. w.
Fairbanks of Indiana" (Applause.)
AS Mr.. Fairbanks came forward, the
convention heartily applauded him. lie
began by thanking the convention for
the honor and continued
AS citizens we were never called
upon to discharge a more important
duty than that which rests upon us;
the nomination of the President and
Nice-Presdent This duty is a pecu-
liarly impressive one at the moment
for it is already written in the book
of fate that the choice of this cOnven-
tion will be the next President and
Nice-President of this great Republic.
Three years of Democratic admins
tration have been three years of panic,
Of wasted energy, of anxiety and loss
to the American people without a
parallel in our history. To-day the
y
hopefully, confidently. and it is for us
to meet their expectations, it is for
us to give them these candidates upon
whom their hearts have centered and
to give them a clear. straightforward
emphatic expression of our political
faith. The Republican party is
party of convictions and it has written
its convictions in the history of the
Republic with the pen and the sword;
with it the supreme question always
has been not what is merely political
but what is eEerlastinglv right"
Referring to the operations of tariff
and monetary laws during the period
of Republican rule, following the war,
Mr. Fairbanks said:
Under the operation of these hon
est tariff and honest money Republi-
can laws the country grew in wealth
and power beyond precedent. We
easily outstripped all other powers in
the commercial race. On November
5, 1892, there was work for every hand
and bread for every mouth. We had
reached the high water-mark. Labor
received higher wages than ever and
capital was profitablv and securely
employed. The National revenues
were sufficient to meet our obligations
and leave a surplus in the Treasury.
Foreign and domestic trade were
greater in volume and value than they
had ever been. Foreign balances were
largely in our favor European gold
was flowing toward us. But ali of
this is changed. The cause is not hard
to see. a reaction began when it was
known that the legislative and execu-
tive branches of the government were
to be Democratic. The Democratic
party had at Chicago condemned the
Republican tariff principles as uncon
stitntional and solemnly pledged itself
TO the overthrow and destruction of
the Mckinley law and to the adoption
OF free trade as the policy of the Uni
ted States. This bold, aggressive at
tack upon the long settled policy of
the republican party bore its natural
ffult IN shaken confidence. unsettled
business and we We're soon drifting
against the rock of destruction. x X y
The imperiled interests of the coun-
Try watched and waited through the
long ana anxious months for some
settlement OF the important question.
ihey wanted an end of uncertainty. At
iehgth the Wilson bill was adopted
ana IL was characterized by Demo-
cratic PRESIDENT as the child of per
nay and. dlshonor' 1t was so bad that
nc Would not contaminate his hand bv
signing IT, A bill that was too base
Tor Mr.. Cleveland to approve is tot.
fotten Tor the approval of the Ameri
can people.
This important law was wanting in
o'o primary purpose of a revenue
measure; for it failed to provide ade-
fA
rnents of the government. The def
eiehcy thus far amounts to some $780,
ooo,ooo. The end is not yet, for the
dehclt grows day by day. This leaves
the treasury and the public credit in
constant peril
My time will not permit further re-
terence to the unfortunate legislation
OF the Democratic party nor to the
hurttul, demoralizing effects of it. Suf-
nee to say that it has been the great
and original factor in breaking down
confidence, checking progress, empty
ing the Treasury, causing continued
deficits and enforced idleness among
millions of willing workers. To meet
the monthly deficit and protect our
credit and save the government from
protest, the President has been forced
to sell bonds; in other words, he has
been obliged to mortgage the future
In time of peace to meet the current
obligations of the government.
This is in sharp contrast with the
Republican record. Our tariff laws
not only raised revenues but they pro-
tected our domestic industries; they
impartially protected the farmer and
manufacturer both North and South.
Not only that, but they also raised
sufficient revenue to gradually reduce
the public debt, and without impos-
ing a grievous burden upon the people.
Having attempted to reverse the
tariff policy of the United States with
such lamentable results, the Demo
cratic party now proposes to reverse
the currency policy. 1t turns to the
currency as the parent of our ills. It's
effort to shift the responsibility will
deceive no one. It's record on the tar
iff; its record of inefficiency and insin-
cerity, is part of unfortunate history
of the republic.
"The present currency system is the
fruit of Republican wisdom. Tt has