St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-23

in any one year since 1863 was in the year
1890-nearly $226 $40, O37 This revenue was
unnaturally large due to anticipated in
crease of duties under the Mckinley bill.
We should receive at least $lsO, 600 900 in GUS
toms revenue. duty of SO per cent en-
forced above stated would yield
$1S,0OO.0O0 more than this sum. In normal
year duty of % per cent would probably
be amply sufficient.
That such rate of duty, purely ad va
loren, would incidentally give much So
called protection to domestic industries Is
not to be denied. In fact so great are the ex-
penses of the government today that suf-
fcient amount could be realized from customs
duties without giving domestic manufactu-
sible difference in the cost Of labor between
this and foreign countries Such rate of
duty would protect amply both the
material and the finished product. the ad
valorem rate on the finished product. being
greater in proportion as the value of the
product exceeds the value of the raw material.
Sound Money-There is, however, an issue
before the people today of greater import
ance than any question of taxation, and that
Is the question of sound money. This is not
political question, for at heart believe
both parties to be sound. In the past each
party has yielded much to false arguments,
fearful of offending interests supposed to be
powerful and which, in fact, were powerful,
but whose influence is fast waning. There
has. however, been one radical difference in
this respect between the two parties. The
Democratic party has contained many who
delusion. but who expressed the courage of
their convictions and if convinced by argu-
ment voted accordingly. On the other hand.
the Republican party, instead oil living up
TO its professed convictions. has constantly
compromised with the free silver element un-
til its policy party in the past has been
controlled and dominated by il.
At this very time we see the so-called
revenue bill held up in the senate by senators
interested in silver legislation. We know that
increase of taxation is the most important
Republican principle, yet unless the party
yields and promises assistance to silver, 1t
can accomplish nothing in this direction
Will it yield? The experience of the past
teaches us yes Visions of silver-pur-
chasing laws and national platforms friend
ly'' to silver and bimetallism arise: plat
forms which can be Interpreted in one man
ner in the East and in totally inconsistent
manner in the West: and we see candidates
ready to step in upon these platforms. alb
solutely dumb upon this issue which Is so
vital at the present time to our business
interests.
At such a crisis the duty of the Democratic
party is plain. We know that the gold stand
ard is the unit of value of the principal ma
tions of the civilized world. we know that
the gold standard is the basis upon which the
exchanges of our merchants over the civilized
world are regulated We know that no gov
ernment and no governments by decree OF
bimetallism can change the business habits
of the people. We must at last recognize that
the pouring into the circulation Of flood and
torrent of silver dollars during the past eigh-
teen years has not helped the cause of silver,
but has further depressed Its value. we real
ize that our national credit has been much
injured by such unwise legislation: Let Let the
listing gold standard not because 1t is gold,
but because the consensus OF business inter,
ests over the civilized world nave recognized
and do recognize this metal as best fitted
TO regulate commercial exchanges. Let US
appeal frankly to the business interests OF the
country and the appeal will not be made
in vain Let our declaration of principles be
specific and let us nominate only candidates
absolutely pledged to the cause of SOUND
money 1t will then be a necessity for the
business interests Of the country to support
us and success will be ours. II we hesitate
at the crisis we are lost. irretrievably lost.
and our party will suffer greater disaster
than that which befell it during the civil war.
On the. other hand if we follow the lead of
those great Democratic misunderstanding
and Carlisle-we will proudly carry forward.
the banner of Democracy to success
Let us declare unequivocally against the FUR
ther coinage of dishonest silver dollars. Let
us insist that the dollars now In circulation
shall be reeoined with bullion unemployed in
the treasury so that they shall be intrinsically
honest Let us then divorce the government
from the banking business and leave to the
people of the United States, through their fiscal
agents. the banks, to regulate, under proper
national supervision and control. all matters
of credit leaving to the national government
its proper function of coming the metal adopt
ed by the greatest nations OF the civilized
world as a standard-gold
The recent patriotic response to the call Of
the administration for gold to maintain the ex
listing standard and uphold the honor and
credit of the country, must convince the most
skeptical that the people are sound upon this
great issue. Never in the history of the coun-
try was there more complete vindication of
the management Of the nations finances by
our president and the secretary of the treas
ury the worthy successor of Hamilton-John
G. Carlisle. They have impressed their indi-
viduality. in a lasting manner upon the rec
ords of the country's history by their achieve
ments. They will retire from office enjoying
the respect confidence and deep gratitude Of
the people Of the United States, irrespective
Of party.
At this point Mr. Hamlin went in
to the discussion Of greenbacks or bank
notes, arguing that they should be
Cancelled. In closing he said:
The president and his secretary of state en-
deared themselves to the people OF this eoun-
day as typical Americans. The bitter dis
cusslons, so fresh In our minds, as to the ad-
ministration's foreign policy, have today disap-