The daily palladium. [volume] (Richmond, Ind.) 1904-1905, 1904-07-27
forced and that legislation has been

of their enforcement. We do not have
to propose to Hturn the rascals out, -
for we have shown in very deed that
whenever by diligent investigation a
public official can be found who has
betrayed his trust he will be punished
to the full extent of the law without
regard to whether he was appointed
under a Republican or a Democratic
administration. This is the efficient
way to turn the rascals out and to
keep them out, and it has the merit of
sincerity. Moreover the betrayal Of
trusts in the last seven years have
been insignificant in number when
compared with the extent of the pub
tration of the government been on a
cleaner and higher level; never has
the public work of the nation been
done more honestly and efficiently.
Assuredly it is unwise to change
the policies which have worked so
we'll and which are now working so
well. Prosperity has come at home.
The national honor and interest have
been upheld abroad. We have placed
the finances of the nation upon a
sound gold basis. We have done this
with the aid Of many who were for
merly our opponents, but who would
neither openly nor silently acquiesce
in the heresy Of unsound finance; and
we have done it against the convinced
and violent opposition of the mass of
our present opponents who still refuse
to recant the unsound opinions which
for the moment they think it inexpe-
dent to assert. We know what we
mean when we speak of an honest and
stable currency. We mean the same
thing from year to year. We do not
have to avoid a definite and conclu-
sive committal on the most important
issue which has recently been before
the people, and which may at any
time in the near future be before them
again. Upon the principles which I'M
derlie this issue the convictions Of
half of our number do not clash with
those of the other half. So long as the
Republican party is in power the gold
standard is settled, not as matter of
temporary political expediency, not
because of shifting conditions in the
production of gold in certain mining
centers, but in accordance with what
We regard as the fundamental princi-
Piles of national morality and wisdom.
Under the financial legislation which
we have enacted there is now ample
circulation for every business need;
and very dollar of this circulation is
worth a dollar in gold. We have re-
duced the Understanding debt and
in still larger measure the interest on
that debt. All of the war taxes i'm
posed during the Spanish war have
been removed with a view to relieve
the people and to prevent the accumu-
lation of an unnecessary surplus. The
result is that hardly ever before have
the expenditures and income of the
government so closely correspondent.
In the fiscal year that has just closed
the excess of income over the ordl-
nary expenditures was nine millions
Of dollars. This does not take ac-
count Of the fifty millions expended
out of the accumulated surplus for
the purchase of the Isthmian Canal.
It is an extraordinary proof OF the
sound financial condition Of the ma
ton that instead Of following the US
ual course in such matters and throw
ing the burden upon posterlty by an
issue of bonds, we were able to make
the payment outright and yet after 1t
to have in the treasury surplus OF
one hundred and sixty millions OF dol
lars out of hand without causing the
| slightest disturbance to business con-
ditions.
We have enacted tariff law under
which during the past few years the
country has attained a height Of ma
terial well-being never before reached.
Wages are higher than ever before.
That whenever the need arises there
should be a readjustment Of the tariff
schedules is undoubted; but such
changes can with safety be made only
by those whose devotion to the princi'
pie of a protective tariff is beyond
question; for otherwise the changes
would amount not to readjustment but
to repeal The readjustment wher
made must maintain and not destroy
the protective principle. To the far
mer, the merchant, the manufacturer
this is vital; but perhaps no othe1