Evening journal., 1904-07-27

tion a public Official can be found who has
betrayed his trust he will he punished 70
the fun extent Of the law without regard
TO whether he was appointed under a Re
publican or a Democratic administration
Moreover. the betrayals OF trust in the
last seven years have been insignificant
! In number when compared with the extent
OF the public service. Never has the ad-
mlnistration Of the government been on
a cleaner and higher level: never has the
[ Yublic work OF the nation been done more
honestly and efficiently.
Prosperity has come at home The ma
tional honor and interest have been up
held 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 formerly our opponents. bu,
who would neither openly support nor 81
/ lently acQuiesce in the heresy Of unsound
| finance, and we have done II against the
convinced and violent opposition Of the
mass OF our present opponents who still
refuse TO recant the unsound opinions
I which for the moment they think IL in
/ expedient TO assert
Finance.
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 20 avoid a definite and
conclusive committal on the most Inn
portant issue which has recently been be-
]
/ time in the near future be before them
| again. Upon the principles which underlie
/ 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 a matter Of temporary po-
/ liucal eNpediency. not because OF shifting
conditions IN the production OF gold in
| certain mining centers but I'm accordance
with what we regard as the fundamental
/ principles OF national morality and wis
dom.
Under the financial legislation which we
have enacted there is now ample circula-
/ tion for every business need. and every
! dollar Of this circulation is worth a dollar
I'm gold. We have reduced the interest
bearing debt and In still larger measure
| the interest on that debt. All the war
taxes imposed during the Spanish war
have been removed with view TO relieve
the people and to prevent the accumula-
tion Of an unnecessary surplus. The re-
/ suit is that hardly ever before have the
I expenditures and income Of the govern
/ ment so closely corresponded. In the ns-
cal year that has just closed the excess Of
| income over the ordinary expenditures
| was nine millions of dollars This does
not take account OF the fifty millions ex-
pended out OF the accumulated surplus for
the purchase OF the isthmian canal II Is
an extraordinary proof Of the sound finan-
cial condition Of the nation that instead
| Of following the usual course In such mat
ters and throwing the burden upon pos
/ terity by an issue Of bonds we were able
to make the payment outright and yet
after IT 10 have in the treasury a surplus
Of one hundred and sixty-one millions
Moreover, we were able 10 pay this fifty
millions OF dollars out Of hand without
causing the slightest disturbance TO busi-
ness conditions.
The Tariff.
We have enacted a tarin law under
which during the past few years the coun-
try has attained height of material well
being never before reached. Wages are
higher than ever before. That whenever
the need arises there should be a readiust-
ment of the tarin schedules is undouhted
but such changes can with safety be
made only by those whose devotion 10 the
principle Of a protective tariff Is beyond
question, for otherwise the changes would
amount not 10 readjustment. but to re-
peal.
r The readjustment when made must
maintain and not destroy the protective
principle To the farmer, the merchant
} the manufa cturer this is vital but per
! / haps no other man Is so much interested
as the wageworker IN the maintenance
d Of our present economic system both as
regards the finances and the tariff. The
standard of living of our wageworkers Is
higher than that OF any other country,
anu II HuIANl 80 remain unless we nave "A
protective tariff which shall always keep
as a minimum a rate of duty sufficient %
cover the difference between the labor
cost here and abroad
Those who. like our opponents. de
nounce protection as a robbery" thereby
5 explicitly commit themselves 20 The propo-
sition that If they were TO revise the
tariff no heed would be paid to the neces-
sity of meeting this difference between
: the standards of living for wageworlers
here and in other countries. and therefore
on this point their antagonism TO our po-
sition is fundamental. Here again we ask
that their promises and ours be Judged by
what has been done In the immediate past.
9 We ask that sober and sensible men COM
pare the workings Of the present tariff
4 law and the conditions which obtain un-
3 der IL with The workings of the preceding
{ tariff law Of 1924 and the conditions which
that tariff Of 1894 helped to bring about
We believe IN reciprocity with foreign
nations on the terms outlined IN President
I McKineys last speech, which urged the
B extension Of our foreign markets by re-
Z ciprocal agreements whenever they could
be made without injury TO American in
dustry and labor. 1t IS a singular fact
that the only great reciprocity treaty re-
5 Gently adopted-that with Cuha-was H.
nally oppo' d almost alone by the repre-
sentatves Of the very party which now
4 states that Il favors reciprocity. And here
again we ask that the worth Of our words
be judged by comparing their deeds with
ours.
. The Trusts.