The Bourbon news., 1897-03-05

must be from decreased EXPENDITURES. But
the present must not become the permanent
condition of the government 1t has
been our uniform practice To retire. not
increase outstanding obligations.
and this policy must again be resumed
and vigorously enforced. Our revenues
should always be large enough to meet with
ease and promptness not only current needs
and the princi pal and interest of the public
debt. but To make proper aud liberal provis-
ion 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.
The government should not be permitted to
run behind or increase it's debt in times like
the present Suitably to provide against this
present mandate OF duty; the certain and easy
remedy for most of our financial difficulties.
A deficiency is inevitable so long as the ex
penditures OF the government exceed
it's receipts. 1t can only be met by
loans. an increased revenue While large
annual surplus OF revenue may invite waste
and extravaganza, inadequate revenue creates
distruSt and undermines public and private
credit. Neither should be encouraged. Be-
tween more loans and more revenue there
ought to be but one opinion.
We should have more revenue, and
that without delay. hindrance. or
postponement surplus in the treasury
created By loans. is not permanent or safe
can not last long while the outlays of the gov
ernment are greater than its receipts, as has
been the case during the past two years. Nor
must be forgotten, however much such loans
may temporarily relieve the situation
the government is still indebted for the
amount of the surplus accrued. which il must
ultimately pay while its ability to pay is not
strengthened. but weakened by a continued
deficit Loans are imperative in great emer-
Sencies 10 preserve the government or its
credit, but failure TO supply needed revenue
in time Of peace for the maintenance OF either
has no Justification.
The best way for the government to main
tain its credit, is to pay as it goes-not by re-
sorting to loans, but by keeping out of debt
through an adequate income secured by n
system of taxation. external or internal, or
both 1t is the settled policy of the govern
ment. 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 and consump-
tion, 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 pop
| ular utterance to the system OF tariff taxa
| tion. There can be no misunders tanding.
either, about the principle upon which
| this tariff taxation shall be levied.
Nothing has ever been made palmer
| at general election than that the controlling
4 principle in the raising of revenue from duties
| on imports. is Jealous care for American in
| terests and American labor The people have
! declared that such legislation should be had
as will give ample protection and eneour. gc-
| ment to the Industries and the development