The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-07-28

victions 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 a matter Of temporary politi-
cal expediency, not because of shift
ing conditions in the production of
gold in certain mining centers, but
in accordance with what we regard
as the fundamental principles of ma
tional morality and wisdom.
Under the financial legislation
which we have enacted there is now
ample circulation for every business
need: and every dollar of this Circula-
ton is worth a dollar in gold. We
have reduced the interest bearing
debt and in still larger measure the
interest on that debt All of the war
taxes imposed during the Spanish
War have been removed with a view
to relieve the people and to prevent
the accumulation of an unnecessary
surplus. The result is that hardly
ever before have the expenditures and
income of the government so closely
correspondent.
The Treasury's Excess.
IN the fiscal year that has just
closed the excess of income over the
ordinary expenditure was $4,000 600.
This does not take account of the $50
600 900 expended out of the accumulated
surplus for the purchase of the 18TH
milan canal It is an extra ordinary
proof of the sound financial condition
of the nation that instead of follow
ing the usual course in such matters
and throwing the burden upon posteri-
ty by an issue of bonds. We were able
to make the payment outright and Yet
after il to have in the treasury a sur
plus of Sl61 100000. Moreover. we
were able to pay this $50, 1000 600 out of
hand without causing the slightest dis
turbance to business conditions.
The Tariff.
1--WE have enacted a tariff law under
which during the past few years the
country has attained a hight 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 prin-
ciple of a protective tariff is beyond
question; for otherwise the changes
would amount not to readjustment
but to repeal. The readjustment when
made must maintain and not destroy
the protective principle. To the farmer
the merchant. the manufactures this IS
so much interested as the wage worker
in the maintenance of our present
economics system. both as regards the
finances and the tariff.
The Foreign Policy.
I'VE believe in reciprocity with for
eign nations on the terms outlined in
President MoKinley's last speech
which urged the extension Of our for
eign markets by reciprocal agreements
whenever they could be made without
injury to American industry and la
Dor. II is a singular fact that the
only great reciprocity treaty recently
adopted-that with Cuba-was finally
opposed almost alone by the repre-
sentatives of the very party which
now states that it favors reciprocity
And here again we ask that the worth
of our words be Judged by comparing
their deeds with ours. on this Gu
ban reciprocity treaty there We're at
the outset grave differences of opin-
ion among ourselves. and the notable
thing In The negotiation and ratifca-
ton of the treaty and i'm the legis-
ption which carried il into effect
was the highly practical manner i'm
which without sacrifice Of principle
these differences of opinion were re-
conciled. There was no rupture Of a
great party. but an excellent practi-