The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-26
KEPT THEIR PROMISE
REPUBLICANS IN CONGRESS KEPT
FAITH WITH THE COUNTRY.
An Impetus Given to Business by the
Passage of n Protective and Rev
enue-Creating Tariff Law.
SENATOR FAIRBANKS TALKS
HIS VIEW OF THE WORK OF THE
SPECIAL SESSION JUST ENDED.
Currency Reform to BE Considered
Next Winter-BiIIs Passed by the
House and Senate.
Special to the Indianapolis Journal.

Special to the indianapolis Journal.
WASHINGTON, July 25.-Like the other
Republican senators, Mr.. Fairbanks, of In
diana, is greatly pleased with the new tar
if law and he feels that Congress has per
formed a work which will be of inestimable
benefit to the country. In the course of a
conversation this evening, the senator said:
Congress has done two things that en-
title it to the thanks of the whole country.
1t has enacted wise and satisfactory rev.
enue law to take the place of one that was
full of defects and unsound throughout. and
1t has given an insurance of freedom from
tariff legislation for many years to come
What the country needed badly was a rest
and the stability which must attend the
settlement of this important tariff issue
Every business man in the United States
now has guarantee that there will be no
change to the injury of his business or of
the general business OF the country through
renewed or additional tariff legislation for
at least four years and in all human prob
ability for many years longer
Il believe that the country will respond
promptly to the action of Congress and the
President, and that there will be a general
and sweeping revival of industrial and COM
mercial activities. Indeed, there has been
considerable stimulation of business in all
quarters in anticipation of the passage of
the tariff bill, an increased demand for
labor is reported everywhere and my pri-
Vate advices and correspondence from home
indicate a healthy broadening out of in
dustries and enterprises throughout the
whole State of Indiana. A better feeling
has been manifest ever since it became GER
tain that the tariff party was strong
in
protective lines and this feeling is being
emphasized and intensified hourly.
THE country, l am certain, will look
with satisfaction on the record the Repub-
lican party has made during the last past
year 1t has carried out its platform and
campaign pledges to the very limit of it's
ability and the uneXampled promptness with
which it has transformed promises into per-
formance furnishes the highest proof of the
honesty of the Republican purpose and the
courage of Republican conviction that the
best interests Of the whole country would
be subserved by enforcement of Republican
policies. The American people like courage
in parties, as they Go in individuals, and
where courageous effort is wisely and pa
triotically directed popular Endorsement is
certain to follow.
The new tariff law is the result of eight
months incessant work by the Republican
representatives and senators. The prepara-
ton of the bill was taken up early last De-
cember by the House ways and means com
mittee, and at the conclusion of its labors
four months later, the burden was assumed
by the Republican members of the Senate
finance committee, assisted as far as possi-
BILE by other Republican senators. The
amount Of work done by these two great
committees in the time they were at it is
almost incredible. They had sessions night
and day. giving patient hearing to all inter
ests and the most conscientious considera-
ton to every point that was submitted
That they did not break down under the
strain is almost a miracle. They certainly
tested human endurance to its limit.
THE new law is the most perfect revenue
measure ever enacted by Congress, in my
judgment, Minor inequalities may be de-
veloped as the law goes into effect, but
these can easily be corrected AS a whole
it will be eminently satisfactory. / am sure
that results will show very even distri-
button of the burden of taxation. Owing
to the abnormal anticipatory importation
the government will lose about $40 900 600
out of the first years revenues from Gus
toms duties, but the returns thereafter will
De amply SuNlclenI 10 pay the expenses OF
the government and provide an annual sur
plus for the reduction of our national in
debtedness. l am not sure but that the in
come the first year will be enough to meet
current expenses, but if there should be
a small deficit the treasury will not be in
the slightest degree embarrassed, because
Of the very large available cash balance on
hand.
THE tariff question having been disposed
of, the country will now be free to take up
the great issue of currency reform. This
is problem, however, that can be met and
settled without plunging the nation into an
other period of disturbing agitation. Con-
gress can well afford, however, to indulge
itself in breathing spell before seriously
taking up and attempting to legislate on
the currency question"
Senator Fairbanks expects to start for
home tomorrow evening. He has not made
his plans for the summer beyond accepting
on behalf of himself and Mrs. Fairbanks,
an invitation from the President and Mrs
Mckinley to join them at Lake Champlain,
N Y The presidential party will only be
at Lake Champain three weeks. At the
expiration of that period Mr.. Mckinley will
take a Western trip.