Middlebury register. (Middlebury, Vt.) 1886-1937, 1896-01-24

the attention of the people from the over
Swallowing wrong Of issuing more bonds in
times Of peace. The Worlds criticism Of the
president means no more than the criticism Of
certain Republican gold senators on this floor.
Now, let us see what this Republican crlti-
cism of the president means. Their position.
as stated by the distinguished senator from
Ohio and others, is that all of the financial
troubles OF our government are due to the
want Of sufficient revenue and to the fact that
the balance of trade is against this country, all
Of which they charge up to the Wilson-Gor-
man tariff bill. They say that a tariff bill fur
nishing sufficient revenue would be a complete
remedy.
If this is SO, then, from even a Republican
standpoint, the further issue of bonds is UNI
necessary and unqualiiedly wrong. If the
Republicans have faith in their remedy, then
why are they not ready and anxious to vote
for this provision to prevent the further issue
of bonds? Certainly they are not in favor Of
borrowing money and piIing up still larger
Understanding debt unless it is absolutely
necessary. And besides, if the troubles Of
this government are due to the want Of SUI
fcient money-that is, if the expenses OF the
government are greater than its ncomc-then
why do not our Republican friends bring in a
bill to cut down expenses instead Of a bill to
increase taxes? Taxes are already too high.
Instead Of bringing in a revenue bill to in
crease taxes, why do they not bring in a bill
that will e%quitably adjust the tariff taxes and
that will Justly distribute the Incidental pro-
lection as between the different sections and
the various industries Of each section? Why
not take some of the protection from those
who already hold the lions share and give it
to those in the South and the West who pro-
duce the raw materials? This is the position
of the Peoples party, and it is Just.
But let us return to the bond question.
What is the Democratic position? The Dem
o%cratic president and leading Democratic sem
ators upon this floor say, on the other hand,
that there is revenue enough now for the
needs of the government, and that an increased
revenue, even to double the necessities of the
government, would not relieve the present
embarrassment of the treasury, because the
taxes and duties levied by the government are
not paid in gold. They say that the whole
trouble is due to the want of gold, and that.
therefore, they must issue bonds to buy gold.
Now, if the Republican party admits that
the administration is justified in paving the
coin obligations of the government in GOLD
alone and in redecming the grcenhacks and
United State, notes in gold alone they will he
forced to admit that the Democratic position
is correct. And the Republicans are forced
to admit this unless they have the patriotism
to confess their errors and mend their WAYS
because it was the Republican party that in
auguratcd thi, policy Of paving the coin obi
cations Of the government in gold alone in de
dancc of law. This, is what Mr.. Carlisle, tn,
secretary Of the treasury, is doing today. an,
when the distinguished senator from Obi,
Mr.. SutRNAN was secretary OF the treasur,
he set him this example. The fact j., that tn
leaders of both parties are today in favor O
issuing Understanding bonds. Not a ,ingl
protest has been raised on either side OF thi
chamber by the representatives OF either tn
Democratic party or Of the Republican part
against this policy OF piling up an interest
bearing debt in time Of peace. They hay
simply been lighting a sham battle over thi
qucstion-quibbling as to details and sparrin.
for party advantages, The Republicans hav
tried to make party capital by criticising sim
ply some Of the details about how the bond
should be issued. The main question
whether the bonds should he issued at all q
not. Both the Democratic party and the he
publican party are on the same side Of thi
question, both are in favor OF increasing tn
intercst-hearing debt OF the country, and tn
policy OF both parties means ruin to the pro
ductive industries of the nation.
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