The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-12-08

it must be confessed that we would
hardly have had Il more unfavorable
period than the last two years for the col.
lection of tariff revenues. We canr OF
reasonably hope that our regeneration
from this business depression will be
sudden, but it has already set in with II
promise acceleration and continuance.
Believes 1t Is Sufficient.
l believe our present tariff law, if
allowed fair opportunity, will i'm the
near future yield revenue which, with
reasonable economical expenditures, will
overcome all deficiencies. In the mean
time no deficit that has occurred or may
occur need excite or disturb us. TO meet
any such deficit we have in the Treasury,
i'll addition to Il gold reserve of one hun
dred millions, surplus of more than
one hundred and twenty eight millions of
dollars applicable to the payment of the
expenses of the Government and which
must, unless expended for that purpose,
remain II useless hoard, or, if not extr;tv-
aSantly wasted, must in any event he
perverted from the purposes of it's exac.
ton from our people. The payment,
therefore, of any deficiency in the revenue
from this fund is nothing more than it's
proper and legitimate use. The Govern
ment thus applying II surplus fortu-
nately IN its Treasury to the payment of
expenses not met by its current revenues,
is not ut all to be likcned to man living
beyond his income and thus mourning
debt or cncroaching on his principal 1t
is not one of the functions of our Govern
ment TO accumulate and make additions
to fund not needed for immediate ex-
penditurc. With individuals it is the
chief object of struggle and effort. The
application of an accumulation fund by
the Government to the payment OF its
running expenses is IL duty An indi.
vidual living beyond his income and en-
barrassing himself with debt or drawing
upon his accumulated fund of PRINCIPAL
Is either unfortunate or inproviden.
The distinction is between Il government
charged with the duty OF cXpcndin1 for
the benefit OF its people and for proper
purposes ali the money il receives from
any source, and the Individual who is ex-
pected to manifest II natural desire to
avoid debt or to accumulate rs much us
possible AMI to live within the income de.
rived from such accunulatjons To the end
that they may be Increased or ut lens, re.
main unimpareh for the future use and
enjoyment of himself or the objects of his
love and affection, who may survive him
Suggestion Made.
pirate our surplus to the payment OF Jus
tIiable expenses than 10 allow it to be-
come an Invitation TO reckless appropria-
tions and cXtrlvagant expenditures. |
suppose that it will rot he denied that.
under the present law our people obtain
the necessities OF y comfortable existence
ut Il cheaper rate than formerly This is
matter OF supreme Importance, since it
Is the palpable duty Of every just govern
ment to make the burdens Of taxation rs
light as possible. The people should not
be required TO rclinquish this privilege Of
cheaper living, except Under the stress Of
their government necessities made plainly
manifest
This reference to the condition and
prospects of our revenues naturally sug-
gests AN alusion to the Weaknesses and
vices of our financial methods. THEY
have been frequently pressed upon the
attention Of Congcss il, previous rxccu
tive communications and the inevitable
danger of the continued liberation
pointed out.
Currency Reform.
without now repeating those details 7
cannot refrain from again earnestly pre-
sehtinG the necessity OF the prompt re-
form of IL system opposed to every rule of
he fraught with the vritvest peril and
perpleNity. The terrible civil war which
shook the foundations of our Government
more than thirty years ago brought in its
train the destruction OF property, the
wasting OF our country's substance and
the estrangcment of brethren. These are
now past and forgotten Even the dis.
trcssing loss OF life the conflict cntaile,l
Is but II sacred memory, which fosters
patriotic sentiment and keeps alive II ten
der regard for those who noblv lied, and
yet there remains with us to-day. in full
strength and activity, as an incident of
that tremendous struggle, II feature of
its financial necessities, not ONLY unsuitetl
to our present circumstances, but mani.
testify Disturbing menace to business
security and an ever present agent OF
monetary distress.
Cold Notes Must he Cancelled.
Because we may be enjoying 81 tempo
rary relief from it's depressing influence
this should not lull us into II false secur-
ity nor lead us to forget the suddenness
Of past visitat;ons. | am more convinced
than ever that we can have no assured.
financial peace and security until the
Government currency obligations upon
which gold may be demanded from til.
Treasury are withdrawn from circulation
and cancelled. This might he done, AS
has heretofore been recommended, bv
their exchange for long time bonds hear
ing low rate of interest, or by their re-
demptionwith the proceeds Of such bonds.
Even if only the United States notes.
known as grcenhcks, were thus retired
it is probable that the Treasury notes
issued in payment Of silver purchase, I'M
der the nut of July ii, 1890 row paid in
gold when demanded, would not create
much disturbance, as they might, from
time to ime, when received in Tie Treas
ury by redemption in gold or otherwise,
he generally and prudently replaced By
silver coin. This plan of Issuing bonds