Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-06-02
Lincoln and Mckinley.

Mckinley's administration has entered
upon a war with the weakest of all the
European nations, with more thar
5000, 900, 900 idle surplus in the treas
ury. Lincoln commenced his financial
system by the issuance of treasury
notes and greenbacks, supplemented
by the issuance of bonds. The new
circulation created great activity in
business, and enabled the people to
pay enormous taxes and maintain bust
ness prosperity at home. Lincoln was
in favor of developing the gold and sill
yer mines of the West to improve the
revenues of the country. Mckinley is
in favor of closing the silver mines and
looking to Europe for gold. In his
second annual message of December I,
1862, Mr.. Lincoln said:
The immense mineral resources OF
some of some of those territories ought
to be developed as rapidly as possible
Every step in that direction would
have a tendency to improve the reven-
ues of the government and diminish
the burdens of the people.
In the same message he said:
Fluctuations in the value of currency
are always injuries, and to reduce these
fluctuations to the lowest possible point
will always be a leading purpose in
wise legislation.
And in referring to the greenbacks
in the same message he said:
The suspension of specie payments
by the banks soon after the commence
ment of your last session made large
issues of United States notes unavoida-
BILE. In no other way could the pay
ment of the troops and the satisfaction
of other just demands be so economi-
cally or so well provided for. The
Judicious legislation of Congress, Sc
curing the receivability of these notes
for loans and internal duties and max
ing them legal tender for other debts,
has made them an universal currency,
and has satisfied, partially at least, and
for the time. the long-felt want Of an
uniform circulating medium, saving
thereby to the people immense sums
III ulSCOuuLo anu GACiduSGS"
No country in the history of the
world was ever taxed as the Northern
states taxed themselves during the war,
but the people were relieved from the
burdens of taxation by an abundance
of money with which to pay taxes.
The greenbacks, and most of the bonds,
were receivable for public dues, and
were practically currency. They
reached, at one time, the enormous ag-
gregate of about 81, 900, 900, 900. The
Northern states never witnessed great
er prosperity, and out of their abund
ance they paid taxes to maintain the
government with heroic patriotism.
Mr.. Lincoln cheered them on, and con-
stantly referred to the vast mineral
regions of gold and silver which would
sustain the credit of the country.
In the present war the voices of the
bondholder, the money grabber, and
of the stock jobber is heard in thunder
Gus tones, while the voice of patriotism
of equality and of justice is silent. 1t
is proposed to increase taxation to an
extent that would, if other things re-
manned as they now are, produce an
addition to the revenue of $3.50, 900, 900
during the next fiscal year. The Re-
publicans propose to do this and to is
sue $500, 900, 900 of bonds, in which
the money of the country can be in
vested and locked up in the United
States Treasury. If the masses cannot
pay taxes without money the policy is
to confiscate the property. How does
this differ from the hard conditions i'm |
posed by Pharaoh upon the Egyptians
when he required them to make bricks |
without straw.
The majority of the Senate commit
tee on finance are opposed to the Eng
lish gold standard and the monopoly
rule of London and New York. The
reported in favor of utiliz-
ing the $42, 0O0,0 of idle silver in the
treasury by the issuance of silver GER
thereon, without delay. This
is no change of policy. The law re-
quires its coinage and the administra-
ton is coming it slowly. 1t has al
ready coined $19, 900, 900 of the seign-
forage and issued silver certificates
therefor. The committee propose to
make the other $40, 900, 900 Immediate
y available by issuing certificates and
coming it thereafter as rapidly as pos
,ible. The committee further propose
o issue $3.50, 900, 900 of greenbacks to
urnish the people money with which
o pay taxes. If this can be done
will be revived and the pro-
POSED taxation will be light and easy
o be borne instead of being an insult
cradle burden, as it would be under 4
ne Republican bond scheme.
The contrast between the Lincoln
'olicy of patriotism and home rule and
he Mckinley policy of Toryism and
oreign bank rule will be observed by
he American people. The scheme
proposed by the Republicans in Con-