Delaware gazette and state journal., 1896-03-19
Afraid of the currency oue.tlon.

nc disposition OF tine hepupllcan
papers to eyade tho currency question,
and to make the taria the issue in the
coming campaign, is apparent more
and more every day, They attempt TO
make the financial issue appear as Of
miCor Importance, and to show that
the tariff should be the only question
corsilered,
This disposition Is unusually appar.
ent in the Morning News, which can
see nothing 10 tho issues Of the coming
campaign than Mckinley and another
Mckinley tariff. Tuesday it editorial!y
discusses the recent address Of Comp
troiler Of the Currency Eckels before
tbs Boston Reform Club, and affects to
belittle the conclusion OF this able
Gnancier that the currency question is
one Of the most vital Importance. 1t says;
The House OF Representatives has
passed bill to increase the revenues
Of the country, II is hung up in the
Senate because of tho selfishness Of tho
silver Senators. Evidently they are the
only ones vino are afraid of 'bugaboos. :"
Mr. Ecsels may enjoy their company
among the great unfrightened but
We arc loath to believe II. Mr.. Eckels,
in his remarks, made one true state
ment lie declared that the question
was one of "cold and calculating busi.
ness account, and not one OF senti-
ment - Undoubtedly true, and this
same business element must Judge a
party that passed revenue bill which
failed by over one hundred and eighty
millions of dollars towards meeting the
expenses of the government.
This Is fair specimen Of the rot and
misrepresentation with which the
papers that endeavor to make tho finan.
cisl issue subordinate to the demand
for higher tariff taxation may be ex.
peeted to regale their readers. No sen
sible claim can be advanced that the
existing tariff has failed to meet the
expenses Of the government by $780,.
000, 600. The highest deficit that was
ever charged against it was $50, 600, 600,
and later developments have shown
that this estimate will have to be
largely reduced TO come near the actual
facts, while there is every indication
that in another year the bill will nro-
duce ample revenue. with ordinary
economy on the part Of Congress- in the
matter of appropriations-an important
matter that Congress seems TO have
ignored entirely of late years.
1t has been favorite deceptive prac-
Il
tice on the part of these Republican
tariff organs to claim that the recent
bond issues were made for the purpose
of raising revenue for tho ordinary
expenses of the government, which the
Tariff bill failed to produce. This
transparent statement, however, has
been so frequently disproved that IL
should not deceive any Intelligent
reader The bond issues we're made
for the purpose Of replenishing the
Treasury gold reserve and keeping it up
to the mark Of safety. This gold re-
serve, under the financial legislation Of
Republican Congress, is constantly
exposed to the drain Of Treasury notes
presented for redemption, but which
are not cancelled when redeemed but
at once resissued TO circulation. Thus,
the drain upon the gold reserve is con.
tinuous, and constantly threatening.
The shout for higher tariff now
being made by Republican organs, in
the hope of diverting attention from
the financial issue. ia as foolish as II
will prove futile, They insist that the
revenues under the existing tariff are
/ Insufficient at the same time demand
Ing increased duties as means Of pro.
I duclng more revenue And vet the
Mckinley bill, which they would like
TO SEE re-enacted, was entitled "An
Act 10 Reduce Revenue" ana it did
reduce the country's revenues to worry
material extent These Republican
organs have nothing to say about the
propricty of sound financial Legislation
and reasonable economy in the expen.
diturns OF the government, aa a means
OF restoring complete national pros
perity. Their only cry is for highei
tariff 1t is IKE offering a stone Il
starving people who cry for bread.