Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1903-12-10

treasury. rock ribbed Republican.
prove it.
| Senator Stephen B. Elkins of West
Virginia, who occupies a high place and
a front seat in the Republican syna
| gogue, doesn't like the looks of things
and is filled with direful forebodings
By reason of his long business training
and large interests he probably keeps
closer to the commercial pulse Of the
country than any other senator In
recent interview he thus discoursed
on the situation
| The treasury statement tells the story
OF how we are running behind. The
deficit for the past month is approx
mately $4,900000. as I recall the figures
we cannot tell how large this deficit will
become before there is change and reve-
nue. exceeds expenditures. There is the
! treasury surplus, but It does not permit of
much encroachment An excess Of gov
eminent revenues is a very tickle thing.
It often vanishes very suddenly.
When the repeal of the war taxes was
proposed in the last congress earnestly
urged some of my Republican colleagues
to go slow Those taxes were not bur-
den upon the people, and there were no
serious complaints about them The ex-
cess of expenditures over revenues at
present is not very large, but one may
well notice that it is mounting to hun-
dreds of thousands of dollars daily We
all hope there is to be no marked curtail-
ment of business over the country but
such periods invariably come sooner or
| later.
+ Suppose business operations are curtaH-
ed for the next twelve months between 20
per cent and 60 per cent. That is by no
means improbable. 1t will mean COM
mensurate curtailment of customs and in
ternal revenue, which would be felt very
much at the treasury department With
such prospect we shall necessarily
hear the cry of economy raised. Internal
improvements, including the improve
ments of rivers and harbors will be stop
ped, whereas such works are in the main
highly beneficial and should be steadily
prosecuted.
G. c.'s Exit.
Does the following letter explain it.
selfg
Princeton, Nov 25
My Dear Mr.. McIxelway--I have wanted
for a long time to say something which
think should be said to you before others.
You can never know how grateful I am
for the manifestation of kindly feeling
toward me on the part of my countryrnen
which your initiative has brought out.
Your advocacy in the Eagle of my norni-
nation for the presidency came to me as
a great surprise, and it has been seconded
in such manner by Democratic sentiment
that conflicting thoughts of gratitude and
duty have caused me to hesitate as to the
time and manner of a declaration on my
part concerning the subject, if such a
declaration should seem necessary or
proper.
Of every consideration presented, I have
not for moment been able, nor am
now able, to open my mind to the thought
that in any circumstances or upon any
consideration I should ever again become
the nominee of my party for the presi-
dency
My determination not to do so is unaI-
terable and conclusive.
This you. at least, ought to know from
me, and I should be glad if the Eagle
were made the medium of its conveyance
to the public. Very sincerely yours
GROVER CLEVELAND
St. Clair McKelway. IL. D., Brooklyn
Speaking of the foregoing letter by
Mr.. Cleveland, the Kansas City journal
makes this statement He is the only
president since Grant to be seriously
considered for third term IS that
true? No, for William Mckinley was
seriously considered by Senator Chaun-
eey Mitchell Depew and by General
Charles Henry Grosvenor while the
latter was revolving grave matters Of
state at the mouth of a coal hole, but
Mr.. Mckinley, with promptness, direct
ness and emphasis, greatly to his hon
or, sat down on Chauncey and Charlie
so ponderously that nobody afterward
mentioned his name in connection with
third term. But why were not
Hayes. Arthur and Harrison seriously
considered for third term? For the
all sufficient reason that they could not
get Il second term.
Here is Mr. Mckinley $ letter. which
| is good reading at any time:
I regret that the suggestion of a third
! term has been made. I doubt whether
am called upon to give it notice, but there
are now questions OF the gravest inlpor-
tance before the administration and the
country and their consideration should
not be prejudiced in the public mind by
even the suspicion of the thought of a
third term. In view, therefore, of the reit-
GRAFTON of the suggestion of it viii say
now, once for all, expressing a long set
lieu CJ1F1ctiUti, t1Stt HOT only am not
and win not be candidate for a third
term, but would not accept nomination
for it If it were rendered me.
My only ambition is to serve through
my second term to the acceptance Of my
countrymen, whose generous confidence I
SO deeply appreciate, and then with them
do my duty in the ranks Of private citi-
zenship.
An Open Confession.
It is said that an open confession is
good for the SOUL On Nov. 81 Hon.
Serene e. Payne Of New York. chair