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Gunton's Magazine of Practical Economics and Political Science Volume 12

Gunton's Magazine of Practical Economics and Political Science Volume 12


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1897 edition. Excerpt: ...revenues, and but for the transfer of $54,000,000 of a note redemption trust fund to the general assets for government expenses, there would have been a deficit in 1892 and 1893. Thus by much quibbling and a little truth he endeavors to create the impression that all the Treasury deficit and bond issues were due to the McKinley law, and in this he is supported by the so-called respectable mugwump journals. The friends of the present administration, we regret to say, are adopting some of the same disingenuous methods of discussion. For instance, in his first message to Congress, instead of frankly admitting that the law of 1890 did reduce the revenues below the solvency standpoint, Mr. McKinley endeavors to create the impression that it furnished adequate revenues so long as it was in operation. This he does without making any reference to the $54,000,000 transferred to the assets account, without which there would have been a deficit. But, on the other hand, he notes the fact--which Mr. Wilson and his friends ignore--that during 1892 over $40,000,000 was paid on the national debt, while during the last four years over $262,000,000 have been added to it by four bond issues. Now it is this kind of partial statement, enabling each side to contradict the other without lying outright, that brings discredit on the entire discussion. Why should the President and the Republican party pretend that the McKinley bill did not diminish the revenue, and would ultimately have created a deficit? Briefly, the truth about the McKinley law is this: In the campaign of 1888 there was a great outcry about the immense surplus in the Treasury. With some truth it was said that an increased surplus in the Treasury acted as a contraction of the currency, which our present...


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Product Details
  • ISBN-13: 9781150260124
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 150
  • Spine Width: 8 mm
  • Width: 189 mm
  • ISBN-10: 1150260122
  • Publisher Date: 01 Jul 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 281 gr


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