Speech of Hon. John Sherman, of Ohio
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| Stand: | 2015-08-04 03:50:33 |
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Excerpt from Speech of Hon. John Sherman, of Ohio: Delivered in the Senate of the United States, January 4, 1888 Mr. Sherman said: Mr. President: The President of the United States, in his message, tells us that we are confronted with a condition of national finance which demands our immediate attention. He says that the money collected from the people exceeds the expenses of the Government; that the surplus now in the Treasury is $55,000,000, and will be $140,000,000 by the 1st of July next. He says the situation presages financial convulsion and wide spread disaster, and that, though the dangers are not palpable, imminent, and apparent, yet they exist none the less, and may be suddenly precipitated upon us. In view of this to him alarming state of affairs, he, departing from the practice of his illustrious predecessors, drops from his annual message all reference to our foreign relations, to the many interesting questions that have arisen during the past year in our national affairs, and even omits the usual recognition of the Supreme Ruler of the Universe. All things celestial and terrestrial must be postponed until we get rid of the surplus revenue. With this extraordinary massage before us, I feel called upon to examine the extent of the dangers that the President warns us of, whether they are exaggerated or not, the causes, and the remedies proposed. The first inquiry is whether the conditions stated are sudden and unforeseen, or have existed for a long time, and grow out of natural causes easily provided for. The existence of a surplus revenue has been a constant occurrence before and since the close of the war. Instead of being a danger, it is an indication of the continuous increase of our domestic productions, of our foreign and domestic commerce, and the steady improvement of our financial condition. When in 1806 President Jefferson had the good fortune of a surplus revenue, he, in his message, said: "To what other objects shall these surpluses be appropriated after the entire discharge of the public debt, and during those intervals when war shall not call for them? Shall we suppress the impost and thus give that advantage to foreign over domestic manufactures?" He believed the patriotism of the people would "prefer its continuance, and application for the purposes of the public education, roads, rivers, and canals." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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