The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-20

The Republicans have so many effective
weapons for the coming political campaign
and the right side of so many important
issues that they are likely to be somewhat
embarrassed as to which shall have greatest
prominence. AS the Democrats have fur
nished the weapons it would hardly be fair
to the enemy not to give them all trial
Senator Fairbanks. in his opening speech
of the campaign at Princeton on Saturday,
did not confine himself wholly to war issues
but drew a contrast between the financial
record of the present administration and
that of the last Democratic administration
In it's general all-around record of incomp-
etence the Democratic party has demon
strated it's conspicuous unfitness to manage
the finances of the country. 1t has bungled
everything it has touched in governmental
way. but nothing else has been so utterly
mismanaged as the national finances. In
all other respects the party has shown a
talent fora laundering, but in this one it has
developed positive genius. In a general way
it's record is a dead level OF monotonous
imbecilty, but when it reaches financial
questions it rises into picturesque mountains
of incapacity.
Senator Fairbanks called attention to the
difference between the issue Oh peace bonds
during the Cleveland administration and of
war bonds by the present one. 1t should be
enough to damn any party politically that
1t should have to resort to bond issue in
time of peace to meet the ordinary expendi-
lures of the government, yet it is fact
that the last Democratic administration is
sued more bonds and borrowed more money
to protect the public credit against the eff
fects of Democratic policies than the pres
ent administration has to carry on the war
against Spain, the conduct of which Demo-
Gratis are now attacking. The Cleveland adj
ministration issued bonds to the amount of
S262, S15, 400, while the present administration
has issued only OOO The government
had to borrow $62, 315, 900 more to defend it,
self against the results of Democratic
laundering than it did to sink two Spanish
fleets, capture Santiago, liberate Cuba, con-
quer Porto Rico obtain it's choice of the La
drone islands and all it wants of the Philip
pines and cover the American flag with
glory. A foreign war under Republican man.
agement is an inexpensive pastime COM
pared with Democratic financiering in time
of peace.
But it is not only in the amount of bonds
issued by the two administrations that the
contrast favors the present administration.
The Cleveland peace bonds draw Az per
cent. interest, while the Mckinley war
bonds draw only 3 per cent. Every person
knows that the credit of the government
should be better in time Of peace than in
time of war. The war with Spain not
such as to threaten or strain the credit of
the United States, nevertheless it was a
foreign war. Yet in the midst of the war,
and before its conclusion was foreshadowed
the Mckinley administration borrowed
500. 100000 at per cent, while the Cleve-
land administration paid Az per cent for
s262, 100000 in time of profound peace. The
interest on every million dollars of the
Democratic peace loan is $4,000 year more
than the interest on each million of the Re-
publican war loan, and the interest on the
total Democratic peace loan is $3,930,O00 a
year more than it would be If the loan had
been as well managed and as successfully
negotiated as the Republican war loan. This
is only one point of contrast between Re-
there are many o,--ers.