The Owosso times. (Owosso, Mich.) 1897-1926, 1897-03-05

Hiisteu 10 run Denlnd, or increase It's
debt, 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.
A deficiency is inevitable so long as
the expenditures of the government ex-
ceeds It's receipts. 1t can only be met
by loans, or an Increased revenue. While
a large annual surplus of revenue may
invite waste and extravaganza. made
quate revenue creates distrust and UNI
dermines public and private credit.
Neither should be encouraged. Between
more loans and more revenue there
ought to be but one opinion. We should
have more revenue. and that without
delay. hindrance or postponement.
Not Permanent or Safe.
surplus in the treasury created by
loans is not permanent or safe reli-
ance. 1t will suffice while IL lasts, but
1t cannot last long while the OUTLAWS of
the government are greater than its re-
ceipts, as has been the case during the
past two years Nor must 1T 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 1t must ultimately pay, while
Its ability to pay is not strengthened
but weakened by a continued deficit.
Loans are imperative in great emer-
gencies to preserve the government or
Its credit, but failure to supply needed
revenue in time of peace for the MAIN
tenance of either has no justification.
The best way for the government to
maintain its credit is to pay as it goes
not by resortlng to loans but by keep
ing out of debt-through an adequate
income secured by a system of taxa
ton, external or internal, or both. 1t Is
the settled policy of the government,
pursued from the beginning and prac-
ticed by all parties, and administrations.
to raise the bulk of our revenue from
taxes upon foreign productions entering
the United States for sale or consump-
ton; 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
subjects Of internal taxation, and Is
committed by its latest popular utter
ance to the system of tariff taxation.
There can be no misunderstanding
either, about the principle upon which
this tariff taxation shall be levied.
Nothing has ever been made palmer
at general election than that the con-
trolling principle in the raising of rev.
enue on imports is jealous care for
American interests and American Ia
Dor. The people have declared that
such legislation should be had as will
give ample protection and encourage
ment to the industries and the devel-
opment of our country.
Bound by Voice of the People.
1t is. therefore, earnestly hoped and
expected that congress will. at the earli-
est practicable moment, enact revenue
legislation that shall be fair. reasona-
BILE. conservative and just, and which,
while supplying sufficient revenue for
public purposes, will still be slgnally
beneficial and helpful to every section,
and every enterprise of the people. To
this policy, 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 always been the firmest prop
of the treasury. The passage of such |
q law or laws would strengthen the !
credit of the government both at home |
and abroad, and go far towards stop |
ping the drain upon the gold reserve |
held for the redemption of our currency |
which has been heavy and well nigh |
for several years.
In the revision of the tariff, especial |
attention should be given to the re-
enactment and extension of the reci- !
procity principle of the law of 1890, un- |
der which so great a stimulus was CIV !
en- to our foreign trade in new and ad-
markets for our surplus ag |
ricultural and manufactured products. |
The brief trial given this legislation
amply justifies a. further experiment |
and additional discretionary power in |
the making Of commercial treaties, the |
end in view always to be the opening |
up of new markets for the products of |
our country. by granting concessions to
the products of other lands that we
need and cannot produce ourselves. and
which do not involve any loss of labor
to our people, but tend to increase
their employment. The depression of |
the past four years has fallen with es-
pecial severity upon the great body Of
the country, and upon none more than
the holders OF small farms.
"A Keller To Both.
Agriculture has languished and labor
suffered. The revival of manufacture
ing 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 cheerfully or fully its prop
ar share in the maintenance of the gov
or is better entitled to its wise
and liberal care and protection. Legis-
ation helpful to producer is beneficial
to all. The depressed condition of in
1ustry on the farm and in the mine and
factory has lessened the ability of the
people to meet the demand upon them,
and they rightfully expect that not only
4 system of revenue shall be established
that will secure the largest income with
the least burden but that every means
will be taken to decrease rather than
Increase, our public expenditures Busi-
ness conditions are not the most prom
sing 1t will take time TO restore the
of former years. If we can
not promptly attain 1t, we can reso-
utely turn. our faces I'm that direction
a nd aid its return by friendly legisla-