The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1897-12-15

few months ago, that revision of the
currency system and one which should
eliminate the gold bearing obligations
could not be accomplished without a
general upsetting of business methods,
and perhaps without materially increas-
ing the indebtedness of the government,
is rapidly giving way in view of the adj
mirable plan outlined by President
Mckinley in his message TO Congress.
A NEW kink in the law relating TO
the estimates of expenditures which
Government officials are required to
turn in every year is responsible for
the enormous figures covering the es.
Inmates for the expenditures for the
fiscal year 1899, and for the nominal
estimates of a deficiency in that year.
Secretary Cages estimate, sent TO Con-
gress on the second day of its session,
indicates prospective deficit of S2l,-
100000 in the fiscal year which begins
next July and ends June 30, 1899.
The fact is that neither the secretary
nor any of his assistants expect that
there will be any deficit in that year,
but, on the contrary, a handsome sur
plus; but law recently enacted COM
pels the War Department officials to in
clude in their so.called Estimates of
expenditures the estimates made by
their subordinates scattered over the
country, in relation TO river and har-
Dor appropriations, and this resulted in
an estimate from the War Department
for over SEC, 100000 for river and har-
Dor work, while it is well known that
no more than one-fourth of that sum is
likely to be appropriated. This ac-
counts for the estimates of an apparent
deficit in 1899, about which Democratic
editors have given themselves 30 much
trouble and which they will doubtless
forget all about when they see the
Dingley law piling up surplus of at
least that amount in the year in ques-
ton.
MANY of the free-trade papers have
been doing lot of talking about the
great luck" of the Mckinley admins
tration in coming into power just at
the time when prosperity was returning
to the country" They have only got
the cart before the horse. This is what
is to be expected of men who put for
eign interest before American inter-
ests. They get accustomed to seeing
things twisted. The facts are better
expressed by saying that prosperity be-
gan to return to the country just as
soon as the Mckinley administration
came into power, or, rather, just as
soon as it was known that Major Nc
Kinley was elected and that protection
was to be given in the near future to
American industries. 1t is a little
trick which prosperity has to come back
to the country just as soon as protec-
ton replaces free-trade. We have seen
it do it more than once in the history
of this country. In applying the word
"luck " to what has happened the free
traders are following in the steps of
those shiftless, imprudent, short
sighted neighbors of the prudent, in
dustrious man of sound judgment, who
enviously attribute the rewards of his
industry and good judgment to his
"luck." Our present prosperity is due
to no luck, but to the sound American
policy of giving protection to American
industries, of securing the home market
to American producers and of provid
ing work for American workmen al
American wages.