The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-09-20
lniquities of Goldbugs Exposed BY
Congressman Bailey.
BROBERY OF THE PEOPLE
TWO HUNDRED MILLIONS OF
UNNECESSARY DEBT.
Republicans Knew There Was No
Necessity For the Bond Issue
Record of the Democratic Minor
ity Cannot Be Assailed-Adminis-
tration Official Will Stump West.

Danville, Va, Sept. 19.-Congressman
Bailey spoke at Chatham. the county
seat, today, in the interest of c. A.
| Swanson, Democratic nominee for con-
gress from the Fifth district People
| for miles around were in the big crowd
| to hear the Texan. In his speech rep
resentative J. w. Bailey made it plain
that the Democrats mean to make the
present campaign an aggressive one.
Among other things of similar import
ance, he said:
For months Republican politicians
and Republican editors have talked
and written necessarily about the mis-
takes of the Democratic minority in
congress- but now that they are re-
quired to specify our mistakes in order
to divert public attention from their
own, they find it impossible to make
good their repeated and reckless asser-
tons. In order to escape the just and
universal Indignation which has been
aroused against them by the suffering
inflicted upon the volunteer army,
through the incompetence or the dis
honesty of those whom they have
placed in power, they have been search
ing the congressional records and
racking their brains to find some
damaging accusation which they can
sustain against US. But they have not
found it, and they will not find it. The
record OF the Democratic party
throughout the last and string SEES
sion of congress is absolutely above all
criticism. do not say it with the pur-
pose CT claiming any credit for my
self, but as a matter of simple justice
to my Democratic associates. I de-
clare that in all the history of this gov
eminent no minority party ever passed
through a war session of congress with
so much credit as did the Democrats
of the present congress.
WAR REVENUE BILL.
'The only important vote which we
believed at the time we cast it could
ever become the subject of reasonable
controversy was our vote against the
war revenue bill, and events have COM
pletely vindicated our course in respect |
to that measure. We opposed the pas
sage of that bill because we believe |
that it authorized an unnecessary sale !
of Understanding bonds, and the con-
dition of the treasury proves conclus- |
lively that we were right. When con- |
gress convenes in December next, it !
will find that the surplus in the treas !
ury above the 100000 600 gold reserve |
will exceed the amount received from |
the sale of bonds, thus demonstrating |
that there was no necessity for the |
government to sell its bonds.
Our Republican friends cannot eX-
cuse themselves by saying that they |
could not foresee the early termina- |
ton of the war, because every man who |
was reasonably we'll informed about the
condition of Spain understood that it |
was impossible for her to continue a |
long and expensive struggle. Owing
to the greater distance between her |
base of supplies and the seat of war,
it was certain that it would require the
part of Spain to meet the expenditures
of every dollar on the part of the
United States. 1t was certain, there
fore, that if the war cost US 5000 000,-
900 it would cost Spain $3.50, 100000 and |
where could she raise any such sum as
that? Torn with civil strife, her /
throne claimed by a pretender; her
people impoverished, she could not levy
additional taxes without precipitating
bread riots within her own borders, an
her only means of carrying on the war
was to borrow money. This she could
not hope to do, because her bonds were
already selling at 30 cents on the dol
lar in the markets of the world, and
had she attempted to borrow $3.50, 000,-
300 she would have been compelled to
issue $500, 900 900 worth of bonds. Be
fore she could have sold one-half of
that amount her credit would have fall
en- still lower and her bonds would not
nave commanded 20 cents on the dollar
with a treasury unable to raise
money by taxation, and powerless to
borrow it, the end of the war was in
sight before 1t began. The Republicans
knew this as well as we did, and if
hey did not know it, they are not wise
enough to be entrusted with the ad-
of this government, but
With the knowledge that the war must
soon end, and knowing, with all their
and eztrava gance. 4 ]
you'd probably not cost over 500 00a,-
100, they proceeded to enact a law !
which imposes $50. 0o0, 800 in annual
axes upon the people ana authorizes
he contraction of a $500, O00, 900 debt
Jpon that monstrous proposition. al {
most every Democrat in congress
-oted NO" ard our only regret today {
S that there was single one Of Us
Who felt called upon by his sense Of
luty to support it,
TO DEFEND THE G. o. P.