The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-03-05

practice 10 retlfe, not TO increase, our
outstanding obligations, and this policy
must again be resumed and vigorously
enforced, our revenues should always
be large enough to meet with ease and
.promptnesss not only our current needs,
and the principal and interest Of the
public debt, but to make proper and
liberal provision for that most deserv-
ing body Of public creditors, the sol
diers and sailors and the widows and
orphans who are the pensioners of the
United States.
The government should not be per-
mitted to run behind or increase its
debts in times like the present. Suita-
bly, to provide against this is the man
date of duty; the certain and easy rem
edy for most of our financial difficulties.
deficiency is inevitable so long as the
expenditures of the government exceed
its receipts. 1t can only be met by
loans, or an increased revenue, While
large annual surplus of revenue may
invite waste and eXtravagance an ade-
quate revenue creates distrust and un-
dermines public and private credit.
Neither should be encouraged. Be
tween more loans and more revenue
there ought to be but one opinion. We
should have more revenue and that
without delay, hindrance or postpone
ment. A surplus in the treasury crea-
ted by loans, is not permanent or safe
reliance. 1t will suffice while it lasts
but it cannot last long while the out
lays of the government are greater than
its receipts, as has been the case dur
i,opr
be forgotten that however much loans
may temporarily relieve the situation
the government is still indebted for the
amount of the surplus thus accrued
which it must ultimately pay, while its
ability to pay is not strengthened, but
weakened by a continued deficit
Loans are imperative in great emergen-
cies to preserve the government or it's
credit, but a failure to supply needed
revenue in time of peace for it's mainte-
nance of either has no justification,
The best way for the government to
maintain its credit is to pay as it's goes
not by resorting to loans, but by
keeping out of debt-through an ade-
Quate income secured by a system of
taxation, external or internal or both.
II Is Tie settled pUllCy VI llle gov
| ment, pursued from the beginning and
practiced by all parties and administra-
tions to raise the bulk Of our revenue
from taxes upon foreign productions
entering the United States for sale and
consumption and avoiding for the most
part every form of direct taxation eX-
cept in time of war. The country is
clearly opposed to any needless addi-
ton to the subjects of internal taxation
and is committed by it's latest popular
utterance to the system of tariff taxa
| ton. There can be no misunderstand-
| ing, either, about the principle upon
| which this tariff taxation shall be lev
led. Nothing has ever been made
| palmer at a general election than that
the controlling principle in the raising
of revenue from duties on imports is
Jealous care for American interests and
American labor. The people have de-
clared that such legislation should be
had as will give ample protection and
encoura cement to the industries and
the development of our country. 1t is,
therefore, earnestly hoped and expected
that congress will at the earliest practi-
cable moment enact revenue legislation
that shall be fair, reasonable, conserva-
tive and just and which, while supply
ing sufficient revenue for public pur-
poses will still be sgnally beneficial
and helpful to every section, and every
enterprise of the people. To this poll
cy we are all, of whatever party firmly
bound by the voice of the people-a
power vastly more potential than the
| expression of any political platform
The paramount duty of congress is to
| stop deficiencies by the restoration of
that protective legislation which has al
ways been the firmest prop of the treas
| ury. The passage of such a law or laws
would strengthen the credit of the gov
eminent both at home and abroad, and
go far towards stopping the drain upon
| the gold reserve held for the redemp-
| ton of our currency which has been
heavy and well nigh constant for seve-
raj years. In the revision of the tariff,
especial attention should be given to
the re-enactment and extension of the
| reciprocity principle of the law of 1890
under which so great a stimulus was
| given to our foreign trade in new and
advantageous markets, for our surplus
agricultural and manufactured pro-
ducts. The. brief trial given this legis-
lation amply justifies further expert
ment and additional discretionary pow
er in the making of commercial trea-
ties the end in view always to be the
| opening up of new markets for the pro-
ducts of our country by granting con-
cessions to the product of other lands
that we need and cannot produce our
selves and which do not involve any
loss of labor to our own people, but
tend to increase their employment.
The depression of the past four years
| has fallen with especial severity upon
the great body of teilers of the country
and upon none more than the holders of
small farms Agriculture has Ian
| guished and labor suffered The revi
val of manufacturing will be a relief to
both. No portion of our population is
more devoted to the institutions Of free
| government, nor more loyal in their
| support, While none bears more cheer
| fully or fully it's proper share in the
| maintenance of the government or is
| better entitled to its wise and liberal
| care and protection. Legislation help
! full to producers is beneficial to all.
! The depressed condition of industry on
| the farm and in the mine and factory
| has lessened the ability of the people to
| meet the demands upon them, and they
rightfully expect that not only a system
|