Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1903-07-10

of Republican Principle That the Party
Dare Not Refuse to Sustain lit Will in
the Language of Its Big Boss Stand Pat"
Senator Stewart Thinks the Political Fu-
ture is Cloudy - Land Peculations Con-
tinue
From our regular correspondent.)
WASHINGTON, July 2, 1908.
From Democratic standpoint the
remarkable excess OF receipts over ex-
penses of the national government dur
ing the fiscal year just closed, upwards
of 100000 in amount, is but
another proof OF the necessity of some
modification of the tariff schedules.
1t has long been maintained by the
most able financiers and political econ
omists that just system of taxation
consisted in taking from the people
for administrative purposes only that
sum necessary to defray the expenses
of the government, but the Republican
party, according to an able Democratic
statesman, has so involved itself in the
protective system that it now finds it
impossible to reduce the revenue
without antagonizing some of the pro-
tected interests on whose liberal con-
tributions to the campaign fund de.
ponds the perpetuation of Republican
administration. The present policy,
according to this authority, is result
ing In gross extravaganza and actual
waste OF the peoples money. 1t is,
moreover. resulting in the boarding in
the treasury Of gold which is needed
in the business affairs of the country,
and the lack of sufficient currency to
transact business it is proposed to
meet by a bill authorizing the Issue of
paper currency by the banks which
will deposit as collateral therefor their
State. county and municipal bonds
An attempt to reduce the revenues
without offending the protected inter.
ests was made during the first session
of the last Congress when a msterial
reduction was made in the internal
revenue taxes but that did not prove
sufficient. The next move will be the
reduction of the tax on whiskey and
beer, as, according to Republican doc
trine, no change must be made in the
tariff schedules.
Even the "Iowa idea" has been ef.
fectually throttled by the manipula-
tons of Senator Allison. In the last
Iowa platform belief was expressed in
modification of the tariff schedules
that may be required to prevent their
sffording shelter to monopoly" but
the imputstion that tariff schedules
could by any possibility afford shell
ter to monopoly was go offensive to the
high protectiouists that the services of
Mr.. Allison were called into requsi-
ton and he drafted the tariff plank
just adopted and which omits the OBJ.
noxious implication. That "stand
pat" will be the policy of the Republi-
can party is thus affirmed and those
Republicans who favor moderate tariff
revision will be compelled to admit
that it can only be secured by the
election Of Democratic Congress.
Although the revised Aldrich finan-
cial bill has been progressing finely in
the hands of the subcommittee ap.
pointed to revise it, and although SEN
ator Aldrich has secured the pledge
of q majority of the Senate that this
bill. so dear to J. Pierpont Morgan and
his Wall street friends, will pass the
Senate, a new obstacle has arisen in
the announced opposition OF Speaker
to-be Cannon who, when in Washing
ton recently, declared that he would
not permit the consideration of any
financial bill at the next session. or
course the strongest kind of pressure
will be brought to bear on Mr.. Cannon
by the powerful interests which favor
this measure and it is by no means
certain that he will adhere to his pres.
ent determination subsequently. Mr..
Geo. w. Perkins, Mr.. Morgan's part
ner, came to Washington just before
the Presidents departure for Oyster
Bay to plead with Mr.. Roosevelt to
sanction the consideration of the AID
rich bill at the special session TO be
called next fall to perfect the ratifica-
ton of the Cuban treaty, but Mr..
Roosevelt, having learned Of the oppo.
sition of Mr.. Cannon, refused TO per.
init the financial measure to take
precedence over his cherished treaty.
That Mr.. Cannon's announcement
occasioned CONSERVATION among the
Wall street interests expresses it mild
ly.
Senator Stewart, who is a stanch
Republican, makes the direful predic-
ton that there is serious panic but a
short way ahead for the United States,
a panic which the Aldrich bill might
postpone but could not avert. The
Senator moreover expresses the belief
that il the Aldrich bill is passed it will
but furnish little more currency
with which to raise still higher the
dam which is now holding back great
quantities OF watered stock and which
he likens to the YOUNGSTOWN dam, likely
to break loose and flood the country at
any minute. The Cannon policy of
no financial legislation might, says
Mr.. Stewart, prove the means of let
ting the water out of stock gradually
and might result in a less serious
panic than must follow il the Aldrich
expedient is adopted.
1t is predicted by the Interior De.
partment that one OF the most inter.
esting fights Of the coming Congress
will be made for and against the
Quarles land bill which repeats the
stone and timber act, the desert land
act and the communication clause of the
Homestead act. This bill was favor.
ably reported by the committee on
Public Lands last session but SO late
that no action was possible. It has
been shown that under the first two
laws, at least, the public domain is be.
ing rapidly absorbed by spectators
who resort to every possible device to
defraud the government and defeat
the purposes of the laws. There will
be . determined fight made against