Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1896-07-23

citizens. McKinley's support ers be
lieve him to be the more able, as he il
certainly the more experienced in
craftsmanship, and regard him safer
man to trust in the presidency, while
Brvan's adherents claim that he il
really remarkable young man and
one well fitted Tor the great office to
which he aspires. The contest will
not be between Mckinley and Bryan,
but between the policies OF their re-
spectiye parties rs enunciated in their
platforms.
The one great issue of the campaign
is that of finance. The Republicans
pronounced in favor of the present
gold standard until such time as other
leading nations will join us in an inter-
national bimetallic agreement. The
Democrats declared just as squarely
in favor of the free and unlimited
coinage OF silver ut Il ratio of 16 to l.,
without waiting for the assent of other
nations. Concerning this issue we
shall have considerable to say later on.
There are some other questions upon
which the parties differ that we now
wish to touch upon First is the tariff.
In previous campaigns this has been
the main issue, but this year it has
sunk to subordinate position. The
Republicans demand aprotectivc tariff,
higher than the present one. sufficient
to raise the adequate revenue for the
governments needs and so adjusted as
to encourage home industry. The
Democrats make rather weak DECLARE
ton on the tariff, but seem to favor the
present one, with an income tax addi-
ton. Now the income tax was de-
clared unconstitutionalby the Supreme
Court and there Is no real reason to
expect that the court would reverse its
decision if 1t had another chance. SO
that the Democratic position is really
in favor Of the present tariff rs it
stands.
1t Is Il notable fact that ever since
the Wilson law went into effectyit has
failed to provide sufficient revenues.
Month after month deficits have been
reported, until they now reach up into
the hundred millions, But for the
sale Of Enthusiastically to fortiiy the
gold reserve, but principally to fraise
revenues for current expenses--the
treasury would have been-empty long
ago. This is the kind of tariff the
Democrats favor. AT the same time
they pronounce against the issue of
bonds, so that the only logical sconclu-
sion is that ii the Democrats win and
keep their promises the government
would be forced to make IN Eassion-
ment as soon as the cash on hand had
been used up in meeting the deficits Of
their tariff.
That is the financial operation Of the
present tariff. We say nothing of its
Encouragement to American industry.
under which the wages of labor have
sunk, mills closed and all kinds OF
business languished. There is no
doubt that the present tariff stands
condemned and if it were the only
issue the Democrats wouldn't stand a
"ghost OF a show"
The Democrats pronounce against
bond issues in time Of peace. A Dem
ocratic administration is the only one
that has found this step necessary. AT
the same time it is going altogether
too far to say that no bonds shall ever
be issued except in war times. How
could we provide money for coast de-
lenses, for building the Nicaraguan
canal or any other great undertaking
Except BY bondingp Every stateland
own has the right to bond and sshall
he privilege be withheld from the
great general governments Again,
here is no way to provide for the re-
lemption of the greenbacks and treas
Try notes in gold except by borrowing
gold and bonding. 10 take away that
means is practically to refuse redemp-
ion, to repudiate our obligations.
The Democrats will withdraw from
lational banks their right to issue cur
ency if they follow their platform
nd win This q bio thnmn hi1t 4 N