The herald., 1897-03-05

Economy is demanded in every
branch cf the government a all times,
but especially in periods like the present
depression of business and distress
among the people. The severest econo-
my must be observed in all public ex-
penditures and extravagance stopped
wherever it is found, and prevented
wherever in the future it may be de-
veloped. If the revenues are to remain
as now. the only relief that can come
must be from decreased expenditures.
But the present must not become the
permanent condition of the government.
1t has been our uniform practice to re-
tire, not increase our outstanding obli-
cations, and this policy must be again
resumed and vigorously ek> esd. Our
revenues should always be la se enough
to meet with ease and promptness not
only our current needs and the princi
pal and interest of the public debt, but
to make proper and liberal provisions
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.
GOVERNMENT DEBTS.
The government should not be per-
mitted to run behind or increase its
debts in times like the present Suitably
to provide is the mandate of duty and a
certain anu easy ItIltuN LOT the HlDSt
of our financial difficulties. A deficiency
is Inevitable so long as the expenditures
of the government exceed its receipts
1t can be met by only loans or an in
creased revenue. While large annual
surplus of revenue may invite waste
and extravaganza inadequate revenue
creates dietrust and undermines public
ard private credit Neither should be
encouraged Between more loans and
70 ne tp ha httt on.
opinion. We should have more revenue,
and that without delay, hindrance or
preparement.
surplus in the treasury created by
loans is not a permanent or safe reliance
1t will suffice while it lasts, but it can
not last long while the outleys OF the
government are greater than its re-
ceipts, as has been the case during the
past two years. Nor must it be forgot
ten that however much such 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 emergencies to
preserve the government or its credit,
but a failure to supply needed revenue
in time of peace for the maintenance of
either has no justification.
The best way for the government to
maintain its credit is to pay as it goes
not by resorting to loans, but by keep
ing out Of debt, through an adequate in
come secured by a system Of taxation.
external or internal, or both. II is the
settled policy of the government, pur-
sued from the beginning and practiced
by all parties and administrations to
raise the bulk of revenue from taxes
upon foreign productions entering the
| United States for sale or consumption,
and avoiding fer the most part every
! form Of direct taxation, except in time
| of war. The country is clearly opposed
| to any needless additions to the subjects
of internal taxation. and ie committed
| by its latest popular utterance to the
| system of tariff taxation.
| TARIFF TAXATION.
| There can be no misunderstanding.
either about the principle upon which
| this tariff taxation shall be levied Moth
! irg has ever been made palmer at
| a general election than that
| the controlling principle in the
| raising of revenue on imports, in
| Jealous care for American interests
and American labor is wished The peo-
pie have declared that such legislation
Ishould be had as will give ample protec-