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As was expected, the response from the o...

As was expected, the response from the o... image
Parent Issue
Day
12
Month
February
Year
1895
Copyright
Public Domain
OCR Text

As was expected, the response from the other end of Pennsylvania avenue to the defeat by the house of the administraron financial relief bill was prompt and vigorous. The bill was defeated Thnrsday evening, and Friday morning the country was informed that notwithstanding the unwillingness of congress to furnish the necessary legislation for conserving the general welfare, all necessary steps had been taken by the executive to preserve the honor and credit of the government. At the same time the world was given to understand that there will be no default on the part of this government toward its obligations, our own people are given a most lucid and forceful object lesson as to the cost entailed upon them by the inaction of congress. The best terms it has been possible to get with the 4 per cent. thirty-year "coin" bonds is a premium which will reduce the rate of interest to 3 per cent. But says the president: "The privilege is especially reserved to the government to substitute at par within ten days from this date, in lieu of the 4 per cent. coin bonds, other bonds in terms payable in gold and bearing only 3 per cent. interest, if the issue of the same should in the meantime beauthorized by the congress." This means that the peop'e must pay an increased annual interest rate of 4 f one Per cent. for the refusal of congress to perform its duty. In other words, the refusal of congress to act will cost the people in annual interest, on the $65,000,000 of bonds about to be issued, #539,159, or a total during the thirty years the bonds are to run of $16,179,770. This is a pretty large sum to pay for the continuance of the word "coin" in our national obligations, when the real purpose of our government as to the money in which they will eventually be paid is perfectly understood by our own people. Our own people are in no way advantaged by it, but it becomes a costly fiction when we would sell onr securities abroad in emergencies like the present. To an outsider it looks decidedly as though Detroit was making a serious mistake in trying to take the power of naming its health board from the mayor and placing it in the hands of the governor. The present health department may be inefficiënt or incompetent, and the present mayor may not have performed his duty to the people in the matter of its make-up, but there is not suffïcient reason in that for the abrogation of so important a principie of our institutions as that of local control of all such matters. Certainly under all ordinary circumstances the mayor would have more incentives for giving the city a thoroughly competent and efficiënt health board than would the governor. He is far more deeply and immediately interested. Not only is he impelled by a sense of official duty, but by the most direct personal reasons, to see to it that the public welfare is properly subserved in such appointments. If he has not sufficient appreciation of his obligations to the public, or enough self interest to cause him to do this, then the people must have blundered egregiously it elevating such a citizen to a responsible position and it behooves them to correct their error at the first opportunity. Such a condition of things is not so much a reflection upon ,the principie of local government as it is upon the citizens who through partisanship or failure to perform their whole duty as citizens, assist in foisting „such officials upon the public. der our systetn it is always possible for the people of any community to have just about such officials as they desire and if their self-interest is (not sufficient to cause them to see to it that only efficiënt public servants are elected, they can scarcely hope that an outsider will guard their interests better. Detroit should stand by the fundamental principie of home rule and send her Pingrees to the rear. Last Thursday the administration finance bill was defeated in the house by a vote of 134 to 161. An analysis of the ballot shows that t was not a party vote. Ninety democrats voted for the bill and ninetytwo against it, and forty-four republicans voted for, and fifty-seven against. Eleven populists were also recorded against the measure. There is nothing in the vote for either party to be proud of. It shows that both are badly split up the back on the silver issue - a larger per cent. of the republicans than of the democrats flocking with the populists, however. This vote and all other indications at the present time point to the obliteration of present party lines when the tug of war really comes on the financial question. The "battle of the standards," which now seems to be on in real earnest, will evidently find partisans of all kinds forming new alignments. There is little doubt, however, as to where this country will be found when the smoke of battle shall have cleared away. That it costs to tamper with the national credit is evidenced by the humiliating spectacle of this government having to pay 324 per cent. interest, while other nations with far greater debts and much smaller resources can borrow for from 2 to 3 per cent. There is no possible question but that this humiliating fact is a direct result of the presence in congress of a considerable element in favor of partial repudiation. Practically the same lesson was taught this country by the Mathews resolutions of 1878, claring in substance that silver was good enough to pay all the obligations of the government in. In one week thereafter $10,000,000 of our bonds held abroad were sent home, and in one year more than a hundred millions were returned. This is according to the authority of Senator Allison, one of the authors of the Bland-Allison act. The antics of the presidental aspirant Reed as he dodges and straddles in his efforts to keep on every side of all issues are decidedly grotesque and at the same time mortifying to the average patriotic citizen. That a man with his natural independence of character and thought should become a mere timeserver in the presence of those who may cast a ballot adverse to his ambition, is an example for gods and men. The ebb has reached its lowest point and the tide is turning. The good effects of the democratie tariff are just beginning to be appreciable, and they will become rapidly more evident. The cheering assurances which come from those vvho are in command of the goveriment will do much to restore confidence and invigorate business. But the daily evidences that the government's income is increasing will do still more. - Atlanta Journal. President Cleveland has appointed Hpn. I. M. VVeston, of Grand Rapids, a member of the commission to test and examine the weight and fineness of the coins reserved at the several federal mints during the year 1894. Although the duties of the position require the knowledge of financial experts, the committee boasting several of national repute, the sterling Michigan democrat is well qualified for the position. If the Pacific roads would pay the government that proposed lump sum $100,000,000 and kindly rnake it in gold the country could take its anxious eyes from that hole in the treasury and give its attention to some other very important matters. - Free Press. A bilí has been introduced into the Texas legislature providing that the county wherein a lynching takes place shall be held pecuniarly responsible tor ihe crime in the amount of $3,000 at least. Should this bilí become a law it would probably arouse a stronger sentiment against lynching than now exists in some southern communities. It took 70,000 bushels of wheat to pay the salaries of the five supreme judges last year. Ve gods. what a price for mediocrity! - State Democrat. What au advantage it would be to the country if the niembers ot the' fifty-third congress, like their prototypes of old, could be sent into; swine and the swine driven down a steep place into the sea. Representative Donovan has in-j troduced into the legislature a bilí raising the age of consent from 14 to 18 years.

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Subjects
Ann Arbor Argus
Old News