The Opelousas courier., 1902-02-08
Events have demonstrated the cor

produe surplus in the Treasury
which has proved serious menace
to business. In fact, financial dis
aster has been prevented only by
the purchase Of bonds at d. high
premium and the deposits OF vast
sums in the National Banks of the
country, on which, of course, the
government received n>;:S interest.
The government has paid f.llions
of dollars in premium which 'might
have been saved had the democratic
policy been pursued. The position
of the republicans is a complete rat
ification of the policy advocated BY
the democrats at that time.
':The democrats will vote for the
repeal of the war taxes because they
realize that the present vast surplus
is dangerous to business interests
and to the government. They would
much prefer a reform of the entire
tax system, including tariff and in
ternal revenue taxes. We believe
that food and clothing, i'll a word,
the necessities purchased by the
whole people, are entitled to at least
as much reduction as the republican
party is extending to bank capital,
the sugar trnst, the Standard Oil
trust, circuses, theatres, bucket
shops and spectators. All these
are relieved while the extortionato
rates of the Dingley bill are con
tinued on all the necessities OF the
people.
!tThe democrats on this commit
tee have insisted that all trust-made
goods, which are so protected by
the DingIey bill as to enable the
trust to charge the American con-
sumer double the prices asked
abroad. should be allowed to come
to the country free. This would
have destroyed many monopolleS,
but the republicans would not per
nit it. They are determined to
ignore the advice given by Mr.. Nc
Kinley in his Buffalo speech to re-
form the tariff and so enlarge our
foreign markets. The republican
party is determined to persist IN a
policy which is breeding trusts,
which is glaring in its inequalities,
and which is bound to destroy cur
foreign markets. The only posi-
bility of reform lies in democratic
supremacy, which would permit the
democrats to remodel the system
of taxation along the lines of ins:
tice and equality"
When the recommendation tC
abolish the war taxes was before
the committee, Mr. Francis 6. New
lands of Navada offered an amend
ment providing that every indus
trial corporation engaged in manu-.
featuring, whose annual receipts
exceed $1,000, 900, should be com
PEELED to pay a special tax OF one
tenth of one per cent on all gross
receipts in excess of 81 ,000,00O pei
annum. The amendment further
provided that corporations of the
above magnitude should render, al
the close Of each year, complete
statement of its capital and surplus
receipts, expenses and profits, anC
amount rates of wages paid, thu
statistics so provided to be classi
fled and published by the Commis
sioner of Internal Revenue.
The amendment was rejected by
party vote, but Mr. Newlands tolt
me yesterday that he would offe
| it again when the measure was
called up in the House.
t!The amendment is in complet
laccord with President ROOSEVELT
recomm endation of publicity for tn
trusts" said Mr.. Newlands. Il
Iwould insure q contribution fror
those industries which the govern
ment is protecting at a rate aver
aging close to 80 per cent of be
between S5, ,00O, 900 and $40, 900. 90
a year to the federal expenses, an
would insure that publicity th
President so strongly advocate
and which is essential before lnte
ligent legislation can be enacted
either for the control OF the trust
or the adjustment of the tariff rates
Y If the war revenue tax be repeafe
without the adoption Of this amen6
ment such gigantic monopolies a
{ the sugar trust ana the Standar
Oil trust will be left in a positio
! where they contribute nothing t
the support of the governmel
which deals SO bountifully wit
them, while the necessities Of lii
will be heavily taxed, and the bu
den, from which corporate wealt
lis exempted, will fall ON the po'
and middle classes"
The President is known to hav
e informed the members of his Cal
! met on Friday that he was firm
: convinced of the necessity of affor
= ing relief to Cuba, that nothing hs
q shaken his conception of the MOI
. obligations of the United States al
: that he proposed to use every effo
q to secure the fulfilment of tt
: pledges made by Mr.. McKinle
q Under the circumstances it won
surprise no one if a somewhat for
y BILE message were received by Go
J. gress on the subject in the not d
J. tant future. -,
E. The question Of Southern elt