The times. [volume] (Richmond, Va.) 1890-1903, 1898-05-05
.rTHoRIzE THE GOVERNMENT
TO SELL BONDS.

y EHOiAiLtA I'M
TO SELL BONDS.
With eminent good sense Secretary
cage has been before the Senate COM
mittee on Finance explaining the nec'SS'-
ties Of the government for large sums Oh
money 10 meet the extraordinary de-
roards Of the war. and urging the COM
,ni,tee 70 provide that the government
NAV sell its bonds TO raise such sums as
81 needs as the demands for money
arise.
To any man familiar in the smallest
degree with the principles which lie at
tho bottom of successful finance it seems
absolutely astonishing that any arsu-
ment whatever can Doe necessary in inns
case. II IS one Of the most obvious pro-
oositions 20 a person in any degree IA
miliar with the history of the modern
world that when the extraordinary eNl-
pepcies Of war fan upon q country II
must pledge its credit for the money that
il needs. so as to spread the weight oil
taxation required over % series OF years
instead OF having st all TO fan upon 'he
country with crushing effect in "a brleI
interval OF time.
When Mr. Dingley brought the bin OF
The Wavs and Means Committee for rois-
ing war revenue before the House
week or more back. Mr. Bailey the
header Of the Democrats in the House
objected TO the provisions giving author
ity to sell bonds stating as his reason
that the burdens of the war should fan
now upon the people We see before us
instead OF being spread ont $50 as to fan
IN part upon ourselves and In part upon
those who are to come after us. lie said
1--WE propose to tax the rich men now,
rather than to mortgage the energies Of
the poor men for coming generations
There is Populism. Altgeldismand all the
other Objectionable theories OF the Chica-
go platform. The very corner stone OF the
social fabric is that each citizen shall
have undisturbcd opportunity TO exercise
his talents and his energies so as 10 ac-
cumulate property. and, when he has ac-
cumulated It that an the forces Of so
clety shall be- employed 10 protect him
in the fun and uninterrupted enjoyment
Of it, He s. under but one legal obhga-
ton in respect to 10, and that is that he
shall contribute from it for the support
of the government the same amount eX-
actly that each other citizen contributes
towards that end from the same amount
OF property. This is tho vital point that
men like Mr.. Bailey overlook, yet j, is the
point upon which the whole case 'urns'
so that We state it again in different
Language A man possessed OF $1,000 is
10 pay 10 the government exactly what
another man possessed OF $1,000 pays ana
a man possessed OF 100000 is TO pay one
hundred times what q man possessed Of
81 900 PAYS and not one cent more. and
so on OF all variations in future. This
equality in burdens Is the very life and
soul OF Just government and when 30 Is
departed from. the nation that does it
opens for itself a highway that will lead
It FIRST 20 Spanish despotism and
further on 10 Chinese anarchy.
But Mr.. Bailey refuses TO sanction q
bond issue because ne would make 1.-The
rich men now" pay the whole burden OF
the war rather than to spread tho bur-
dens out over generation so as TO make
Il fan ratably and fairly upon all men.
Mr. Bailey would violate the fundamental
principles OF the social compact by fore
ang one set or men who have happened
No be fortunate TO pay more taxes than
In lust and equal distribution of taxation
would impose upon them, and that IS
why Mr.. Bailey will never secure the
confidence and the support OF that part
of the American people which will always
rule this country while we remain a
free people.
Another reason now being urged against
authority 10 the government TO sell bonds
Is that our naval victory at Manila will
make the spaniards see the hopelossness
OF their contest. and win therefore bring
q speedy ending to the war.
This Is weakness pure and simple.
whoever knows anything Of Spanish
character knows that their wndlcuveness
ana reyengefuness is liable 20 make
them keep up the war out OF pure malig-
nancy long after ali hope OF a successful
issue to 1t has been brought home even
10 the most ignorant OF them. II viii
NOT do for US TO count upon any such re-
suit. The war may be a long and most
xxasperating one even though we destroy
every ship Spain has and Tree every one