The Lamar register., 1900-05-16
LCOTT TO REPUBLICANS.
the State Convention He Delivers Strong Speech
Upholding the Course of the Administration

anu true ana honorable n1miufStro-
tion, and we are proud to do to him
honor. Every farm in Colorado is
worth more money because his policy
( hns been maintained for the last four
years, and every laboring man gets
more money at the close Of the week,
and we In Colorado share In the glor.
lous reign Of prosperity which he has
brought us lapplause,.
MIR. Chairman, | did not intend To
talk OF national topics but there are a
few things | am anxious to say TO this
convention. There has never been a
time, during any administration since
our country became a republic, In
which there have been crummed SO
many events OF vital and worldwide
Importance, as this, and In the glories
OF war and OF conquest, we are apt TO
Forget the years back. at the commence
ment Of McKinley's administration.
-Do you recall the fact that during
Harrison's administration S26D. .OpO, 600
and more Of the national debt had been
paid. and that when Mr.. Mckinley be
came president he found depleted
and empty treasury and war impend-
ing; that he found the administration
which had preceded him been com
PEELED to sell two hundred and thirty.
odd millions OF our national securities
to make secure the revenues for run.
ming the government. and he called
Congress In session aud he wrote that
Important and imposing message in
which he called upon Congress 10 pass
proper protective tariff bin that
should protect American labor and
American industries. tAppiausej And
the result OF II was that the war, which
had cost rs three hundred and sixty
Odd millions Of dollars up tu this lime.
has required the issue Of only two
hundred million dollars OF bonds: that
Tor the first time In five years before
there iS Il surplus Income over the cx-
penditures: and because Of the action
OF Congress, Under his request and di-
rectipu. this country was able TO main.
tain. without dlmInudun OF It's pros
psFity and without feeling the financial
strain, one of the great wars OF modern
times.
We must not forget that. We must
nOi forget that during Mr.. CleyelaDds
administration there was an attempt
10 settle the entire Pacific railroad In
dehis,incss by throwing OF the whole
amount OF Interest due. and under Mr..
MeKIniey's administration every dollar
Of the Union Pacinc Indebtedness was
collected, adding thirty or forty mill
lions OF dollars TO the national Golfers.
the Kansas Pacific debt. except n
small PORTION OF the Interest. was Ike
wise collected; that we took into our
treasury, A. payment for the building
Of those railroads, every dollar that
we loaned. and every dollar OF Inter
est thar we advanced. We must not
forget. too. that during this admins
tratlon We have passed bankrupt law
that enab bles IN insOivent debtor who
sres no ray OF prosperity In front OF
him. burtisnrJ with debt TO tind a way
20 get n new start. and that u Re
pnhiicau measure lapplausel; and the
Islands Of Hawaii. twice before seized
by England. once by France and once
by Russia. all Of whom were compelled
TO let 20 their hold. because we said
that their occupancy Of those islands
80 near our western coast would be
menace TO our p,'Ace-they came un-
der our control not alone by Repnhli-
can votes. but against the almost united
Democratic opposition tHpplnusel.
Another measure that Congress has
passed. to which ] must chn your at
tentl0n before | pass to the great
events that accompanied our war, was
the FuEIHuAN htlaF dNAAA "-ANh- -.
has been So much discussion. Mr..
Chairman. under that measure we pro
yitied that the bonds OF the country
now outstanding at four and four and
one-half per cent and five per cent.
might be exchanged for longer bonds
Of these United States drawing but two
u.r cent. interest There Is not coun-
try In the world that has such credit,
ana II came because Republican
President was in the White House
dong applaussi. There are to-day
nearly three hundred millions OF those
bonds exchauged-over two hundred
millions already exchanged-andw with
in the next few years you VIII ma
that the obligations outstanding oy
this government draw but two per
cent. interest. England pays, at the
present price of COnsols, nearly three
per cent; Germany pays three per
cent. and her bonds are selling at less
than mar. No other country in the
world has a credit like ours or mas ev-
er been able to establish such a hnah-
cfal exchange as has been provided by
this last Congress
"And. sir. Chairman Congress mas
aiso provided. although our volume OF
r.urreucy Is far greater than ever be
fore iu the history OF our cOuntry-far
greater than that Of any country IN the
world, except France-to furuler en-
large the volume Or our currency, en-
Iarc,,l the privileges OF these bonds as
a hasIs for the issue OF paper money.
vttR IHAf