The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-03-05


needs, and the principal and interest of
the public debt, but to make proper and
liberal provision for that most deserving
body of public creditors the soldiers and
sailors, and the widows and orphans who
are the pensioners Of the United States.
Should Not Incre It's Debt.
The government should not be permit.
ted to run behind or increase its debt in
times like the present. Suitably to pro-
vide against this is the mandate of duty;
the certain and easy remedy for most Of
our financial difficulties. A deficiency is
inevitable SO long as the expenses of the
government exceed it's receipts. It can
only be met by loans or an increased rev.
enue. While large annual surplus of
revenue may invite waste and extrava-
gance Inadequate revenue creates distrust
and undermines public and private credit
Neither should be encouraged. Between
more loans and more revenue there should
be but one opinion.
We Should Have More Revenue,
and that without delay, hindrance or
postponement. A surplus in the treasury
created by loans is not a permanent or
yafe reliance. 1t will suffice while it lasts,
but it cannot last long while the outlays
| of the government are greater than it's re-
| ceipts, as has been the case during the past
| two years. Nor must it be forgotten that
| however much such loans may temporar-
| lily relieve the situation, the government
| Is still indebted for the :.:nount of the sur
plus thus accrued WI ~ must ulti-
mately pay, while its ability to pay is not
strengthened but weakened by a cOntin
ued deficit. Loans are imperative in
great emergencies to preserve the govern
ment or its credits, but failure to supply
needed revenue in time of peace for the
maintenance Of either hasno justification.
| Best Way to Maintain Credit.
The best way for the government to
maintain its credit is to pay as it goes
not by resorting to loans, but by keeping
out of debt-through an adequate income
secured by a system of taxation external
or internal, or both. 1t is the settled pol
Icy of the government, pursued from the
beginning and practiced by all parties and
administrations to raise the bul k of our
revenue from taxes upon foreign produc-
tions entering the United States for sale
and consumption and avoiding for the
most part every form Of direct taxation,
except in time of war. The country is
clearly opposed to any needless additions
to the subject of internal taxations, ex-
cept in time of war.
| No Mistake About the Manner.
| There can he no misunderstanding
either, about the principle upon which
this tariff taxation shall be levied Moth
ing has ever S9en made palmer at gen
eral election than that the controlling
principle in the raising Of revenue on i'm
| ic lr,, fnr A infa
ests and American labor. The people
have declared that such legislation shoult
be had as will give ample protection ant
encouragement to the industries ant
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, Conservative AMI just,
and which, while supplying sufficient rev
enue for government purposes, will still
be signally beneficial and helpful to ever
section and every enterprise of the peopl G
To this policy we are all, of whatever p ar
ty, firmly bound by the voice Of the peo
plea power vastly more potential thar
the expression of any political platform
The paramount duty of congress is to stoI
tective legislation which has always been
the frmest prop of the treasury. The
passage of such II law would strengthen
the credit of the government both at hom,
and abroad, and go far toward stopping
the drain upon the gold reserve held fo
the redemption of our currency which ha
been heavy and we'll nigh constant fo
several years.
| The Reciprocity Principle.
In the revision of the tariff especial at
tention should be given to the re-enact
ment and extension of the reciprocit,
principle Of the law of $780, under which
so great stimulus was given to our for
eign trade in new and advantageous mar
kets for our surplus agricultural ant
manufactured products. The brief tria
given this legislation amply justifes
further experiment and additional dis
cretionary power in the making of com
mercial treaties, the end in view alway
to be the opening of new markets for tn
products of our country by granting con
cessions to the products of other land
that we need and cannot produce oul
selves and which do not involve any los
Of labor to our own people, but tend t
increase their employment.
| ABEtCuAsuV0 ouu A>0OoE AAoS0 cuhoTOOs
The depression of the past four year
has fallen with especial severity upon tn
great body Of the country and upon non
} more than the holders of small farms
Agriculture has languished and labor sui
fered. The revival of manufacturing will
be a relief to both. No portion of our POI
, ulation is more devoted to the institution
of. free government, nor more loyal Il
their support, while none bears NOR
cheerfully or fully it's proper share in tn
, maintenance of the government, or is bet
ter entitled to it's wise and liberal car
and protection. Legislation helpful
to producer is beneficial to all. The de
pressed condition on the farm and in tn
mine and factory has lessened the abilit
, of the people to meet the demands upol
them, and they rightfully expect that no
only system of revenue shall be estat
lished that will secure the largest revenu
with the least burden, but that ever
means will be taken to decrease rathe
than increase, our public expenditures.
, 1t VIII Take Time.
Business conditions are not the mos
/, promising. 1t will take time to restor
nrosporifv of fprrnor ~.