Washington Letter

Washington, D. C, April 1Ö, 1895. President Cleveland will probably make the holding of the Sound Money Convention at Meinphis, Tenn. , on May 23, the occasion for following up his Chicago letter with another along the same lines, only giving a more exact definition of what he considera sound money. He thinks that the time has come when the currency question must be discussed in order that the people may vote intelligently upon it next year. He also thinks that tliere is an enormous amount of misinformation among the people on the subject, and that the niain duty of the hour is to aid the people in arriving at a correct definition of what constitutes sound money. That Memphis convention, although non-partisau in its character, will necessarily be dominated by democrats, and Secretary Carlisle is expected to make the principal address before it. These things have caused that convention to be regarded with extraordinary interest by those who are interested in the future welfare of the democratie party. It is certain that every democrat is in favor of sound money, but it must be aeknowledged that there is a wide difference among democrats - the leaders af the party, as well as the rank and ïle - as to what is sound money. That ïhese differences onght in some way to se wiped out, or at least adjusted before ;he party enters another national camaign, will be admitted by every demoMat without argument. Now, how do individuáis who have no desira to fight eaoh other usually adjust their serions differences of opinión? By argnment, showing each their errors aad convincing one or the other. Well, that is just what the administraron wants to do. It will present its arguments as to what sound money is, and will ask that its opponents in the party do the same, leaving it to the party to decide which side has the correct idea. Ohio democrats who come to Washington all speak hopefully of party prospects. One of them - Mr. Oliver G. Williams - said: "I may be somewhat over-sanguine, trat I feel that the democrats are going to elect a majority of the next Ohio legislature. The peopie are very sick of the last two legislatures, and the recent grand jury investigations at Columbus disclosed such shady transactions on the part of prominent republícan legislators that a great deal of popular censure lias been aroused. The bold condnct on the part of George Cox, the republican boss of Cincinnati, in working for the passage of the pool bilí, has opened the eyes of the people to the shameless work that has been going on at the State capital, and I shall be surprked if they do not render a verdiet in November that will sirprise the bosses and ringsters. I would not be surprised if thousands of republican voters acted with the democrats this fall for the express purpose of rebuking the misconduct of the legislature, to cali it by no stronger name. The fight will be hot from start to finish, as it involves a U. S. Senator, and if the democrats do not win they will ' make the republicans work mighty hard to do so. ' ' According to the estímate of Commissioner of Internal Revenue Miller, the goverment will receive on the voluntary returns made something over $14,000,000 for income tas. No estímate can be made of how much this will be increased by assessing the tax upon those known to be liable who have failed to make returns in accordance with law, but it will probably exceed $4,000,000. The amount of Commissioner Miller's estímate bears out the estímate made when the decisión of the Supreme Court was first handed down, that the exemption of snch portions of incomes as were from State or municipal bonds and rents would reduce the total expected from the tax by more than one half. Secretary Morton, in a published interview, declares his belief that we must sooner or later declare that the United States recognizes gold as the best and least fluctuating measure of value and medium of exchange which the commerce of civilization has thus far utilized.