The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1909-04-07

THE NATIONAL DEBT
Washington April 5-The most earl
silly understood feature OF the Payne |
tariff bill is that It increases the au-
bonds from 500, 0O0, 900 to $3.50, 600, 600 |
in any ear to run for that year. and
too in "a period of profound
peace. To issue bonds, thereby Great
ing a new Indebtedness is simply post
poning the evil day, for they must be-
paid at least with interest" |
Minority leader Champ Clark was
talking on the Payne tariff bill. And
practically in the opening sentence he
directed attention to a feature in the
bill the Importance Of which has beer
overlooked by nearly everyone.
The authorization of an additional
$3.50, 900 900 bond issues-in any one
year to run for that year-as MIR.
Clark pointed out, means something.
Briefly, this is what it Be
cause of the unparalleled extrava-
gance of the republican party in the
last eight years, the government is
spending more than 500, 900, 900 every
year in excess of what 1t stakes in.
In the coming four ear the deficit
according t estimates already made,
will double the n hundred million
dollar mark. The administration finds
that even though the Payne bill should
l DtCO1Ilt d law, uUl n6dTly 0uOuSu rev.
enue can be raised to Offset the extra
vagance of the machine in charge OF
the government appropriations. How
can a crisis be averted or delayed?
was the question before the ways and
means committee. Two ways outside
of taxes suggested themselves. One
was to cut down expenses. That
| would mean mo Jobs for lame ducks"
| and decreased appropriations for po-
litical navy yards. The ways and
means committee decided the easiest
way for the republican party to get
from under" would be via an increas-
ed bond issue.
The trainers of the Payne bill said
Mr.. Clark do not use the unpopular
word bond, but substitute therefore
the more euphoneous word certificate
which would mislead nobody, for a
certificate and a bond are one and the
same.
we insist that instead of an in
crease of taxes or a new issue of inter
est-bearing certificates or bonds, the
correct remedy for the growing def
cheney in the is the Jeffer-
sonian principle of economy in the
public expense that labor may be
lightly ~burdened."
Washington, April 6.-The Republi-
a party has suddenly awakened TO
a reallZat1On or ~1rreparaDle losses as
a result of its fight over Cannon and
the House rules. The dissention to-
day existing in the ranks is of such
serious proportions in the opinion of
many as to practically insure a Demo-
cratic majority for the next Congress.
The insurgents" of the Republican
party have said good bye" to the
"standpatters" for all time. This may
be put down as final and authentic.
Indications are the split in the nation
al republican situation will be very
similar to that in he owa state Re-
publican party. 1t is not unlikely that
within the next year or two there
will grow out of the present insurgent
forces a national progressive party.
That the regular organization Is in
utter disrepute with a large percen-
tage of Republican voters can not be
denied. The party has put its 80 X
in large, black letters On Speaker
Cannon and the oligarchy that he
works with. 1t refused to see the
handwriting on the wall, and must
take the consequences.
i Word toward organizing the various
:, insurgents" forces in various parts
of the country will begin at once, in
order for use in the next Compression.
al elections in 1911. The work will be
done very quietly and in all %probabili.
ty without making any general an.
nouncements that would tend to at
> tract the attention of the "stand-pat