The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1914-10-15

dition be met? How snail that catas
trophe be avoided? There are only
tNo VA increase the burden of
taxation on a people who are already
suffering from the stagnation of bust
ness due to your tariff law Of 1913,
or give your note, bearing small
rate of interest, for the necessary
amount to meet the deficit, until you
can reinstate the old policy which
was raising a sufficient revenue to
run the government. A sensible man
dealing with his own private matters
would not hesitate single moment
as between this greater and this less
or evil. re would reason thus: IL
borrow the s15O,OOO,OOO my interest
charges, which are losses will be $3.50
600 annually; but If l continue the
present revenue policy will continue
to lose S150,OO0O00 annually. ! will
give the note and change the policy
at the earliest possible moment.
That, Mr.. President, is the conclu-
sion this Congress representing the
interest of all the people, ought to
reach today. But there is little hope
of changing a policy which has been
inaugurated until the administration
which espouses that policy has been
changed for another and that will
require two years more. But we
can far better afford to lose the little
interest upon the bonds for couple
of years than to tax the people the
equivalent of the whole principal
each year.
Mr.. President, Democratic policies
have now been in operation just one
year. and the old condition which
has always marked the fiscal policy
of the country under the control OF
that party has again resulted, first,
in business stagnation all over the
country; second, in expenses great
err than income; and third, in the
usual attempt to meet the situation
by initiating the currency by turning
out a billion or SO of extra paper
dollars.
But, Mr.. President, your initiation
prescription not only will not be a
remedy at all, but 1t will create an
Ill which in the end will require most
drastic and painful treatment for
its cure. The time will come when
we shall either have to redeem this
excessive issue of paper dollars or
commit the unforgivable crime
against the whole country OF gross
ly cheapening the savings of all the
people.
Mr.. President, we have all the
money in the United States neces-
sary to conduct all of its business.
We have more dollars available for
circulation today than ever before
in our history; but they are idle dol
lars. What. we need is not more
dollars, but a policy that will Danish
the feeling of dread and give conf
dence to the business of the country.
The conditions are similar to and
we have the same old controversy
We had in 1896 when the same Dem
ocratic tariff policies had laid their
blight on all our industries.
Mr.. Bryan representing the Demo
cratic idea, then said: What the
country needs is more dollars.
Mr.. Mckinley, representing the Re-
publican idea, said: What the country
needs is more business.
Mr.. Bryan said. Open up the minis
of the country to the free coinage OF
the silver of the world and that will
make business.
Mr. Mckinley said: Open up the
mills of the country to the free coin
age of American labor and enter
prise and that will make business.
Mr.. Bryan said: We want more
circulating medium to create bust
ness.
He did not explain how We would
start that medium circulating.
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