The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-20
SATURDAY, JANUARY 20, 1900.
ZINC Pct hanks of Isss.

In the year of grace eighteen hundred
and lightweight the Hon. William Nc
Kinley was a delegate TO the Republican
National Convention, and Chairman oil It's
Committee on Resolutions. II was due TO
this great stickler for fiduciary propriety
that the platform contained ringing de-
nunciation of THE Democratic policy OF
loaning the Governments money without
interest to pet baDks," How little Mr..
Mckinley could have then realized that
the sum of ffty-nine million dollars loaned
to the banks of the OBSERVATION-DISCLOSURES
clique, would in a few years grow 10 an
aggregate OF one hundred and twenty MIL
lion dollars loaned TO the Standard OIL
group free Of cost or trouble by his own
future Finance Minister.
AS the President has changed his views
on bimetallism and civil service reform
since eighteen hundred and lightweight,
ii may perhaps be said with some show OF
reason that he might have also changed his
opinions regarding the propriety OF iced
ing the swine that fatten the faithful at
political killing time. But we are not
prepared to believe such thing possible.
Mr.. Mckinley is man too honest and con-
scientious TO lose the last vestige of moral
perception in one terms association within
even the Hanna machine men who sur
round and pervade If they cannot pervert
him. Ii was on the twenty-ninth day OF
February of the year above last written
that he stood forth in Congress and thus
spoke:
Nearly ffty-nine million dollars. as understand
Of the surplus money that ought 10 be in the
Treasury today, the Sec iary having refused 10
ray il ont 10 Governr ent creditors, IS now OUT
among the banks, held by them, they giving
TO the Government bonds as security for the
deposit and they getting IL without interest
'.Ihey have the surplus money OF the Treasury In
their own hands, and they collect the accrning
interest on the Government bonds which thes
have deposited az security. when, il the Admins.
tration had used the ffty-nine million dollars and
bought corresponding amount OF bonds VITA
that sun. those bonds would have been Cancelled
and the interest on that sum would have been
stopped.
-.And I charge here today that the President OF
the United States and his Administration are
solely responsible for whatever cohgested cohai-
zion we have in the Treasury and whatever
alarm prevails about the frances OF the country.
Every dollar OF il would have paid dollar OF the
Government debts if the Secretary hsd wisely
exercised the discretion given him by law. What
in the banks and has outstanding debts bearing
interest He calls in the evidences of those debts
and paws them of with his surplus deposit
That is what business would have done,
and that is what business Administration would
have done and we would have had fifty-rine mil
lion dollars less Of interest bearing bonds in cir
culation today if the President had followed the
way blazed for him by the Republican party
One almost trembles TO think TO what
heights OF inyective the orator might have
scared il there had been Hepburn letter
loose and lashing of its tail In Cleveland
time. We need not doubt that the stern
purist from Ohio would have made rninee-
meat of men demanding financial fayors
in return for their campaign subscriptions
In eighteen hundred and eighty-four.
And, because we know this, 1t is not
possible or proper TO believe that the
Mckinley convictions and concepts can
have undergone complete revolution, de-
struction. and reorganization on new
basis in the interim. Hence, the necessary
deduction is that the President is as indig-
nant because Gage has divided the surplus
among the friends of this Administration in
q way solely profitable to them as he ever
could have been with Cleveland and Fair
child for their conduct in taking care OF the
Wall Street bond and Doodle clique Of their
earlier and smaller era. II must be the
wicked partners like Hanna, Gage, and the
Rockefellers who are responsible for the
recent embarrassing scandals. We should
blush TO think that Mr.. Mckinley could ap-
prove Of or even tolerate a thing as Presi-
dent OF the United States which as Rep
resentative in Congress he felt it bis duty
10 denounce as a high crime and misde-
meanor