New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-29
THE PRESSURE AND THE REMEDY.
SPEECH or MR.. GRANGER, OF y. Y
N THE HOUSE MONDAY, JAN. %.

~ THE HOUSE MONDAY, JAN. %.
The Administration is alarmed at its financial condi-
ton 1t has reason to be alarmed. BY extravaganza
and folly our expenses have up to eighty ninety
millions q year, while revenue has run down TO
twenty-five or thirty. The President has one part of
the army in the Rocky Mountains, blocksded by snow
and the Mormons another playing second fiddle to
Slavery in Kansas and the remainder fighting for glory
with Billy Bowlegs And now, Sir, four regiments
more are called for. When vote any more men to
such commander, reckon my constituents viii lind
it out.
Sir the Government u III trouble, and arc the
people The President in his message, says:
I'VE find our manufactures suspended public works re-
.rde our private enterprises different kinds abandoned,
thousand, Of useful sboIcrs throw out OF employment ana
reduced 20 want and financial condition dploTab
Sir the country is suffering with great pecanary dis
tress Bankruptcy everywhere prevails, and the peo-
pie are struggling with hard times. AT the commence
Inent Of the session many an anxious eye sought the
Presidents Message for some tokens OF relief. The
Message came and irtat, and not ray Of hope from
N0. quarter. Pointing TO the State banks as though
hen were the source of ell the trouble, the President
advises "tbat no State banks should be chartered
unless restricted 10 their issues OF paper to the amount
" Of specie in their vaults, saying:
AN Other restrictions c0npaTatiyey vain and nothing
else could etectuSlly requisite the currency"
eregn States to compel their banks to keep on hand
at least one Hrd of the amount OF their Issues and de-
posts in coin-iust having told them that " that
amount would be can and entirely inadequate 70
" regulate the currency.
Now the country looks 10 u5 Tor aldi ana shaH u
look in vain
There is a cause for all this trouble, and there is
remedy and that remedy IS with the majority OF TINS
House.
ask them s there any measure of relief to be pro-
posed If thero s trust the minority will Hing no
obstacles in the way, factious opposition, but will
cheerfuly cooperate in any measure OF relief The
democratic patty. by its mistaken policy has made
the mischieEhas caused this financial revulsion and
widespread misery 1t was the repeal ofthe protect
i've tariff of 1872 and the substitution OF the revenue
or fee..radc tariff Of 1916 that did il. IL wss done
wthou, reason. against the light Of experience, and
in disregard OF the voice of the nation as clearly eI-
pIesred il he election OF lSi0 %,
there uas any other cause for the repeal OF the
tariff OF l3i2 than that 1t was thg measure, nave
il vet 10 learn. The principle OF protection was dIs
carded Yes Sir, the prcipe and posecy OF fostering
the industry and labor of the country were denounced
and rejected.
With his change Of tariff We began TO purchase
more abroad and manufacture less at hone.
The balance scale settled dorm against us, ana the
debt TO England began to pile up, till It has reached
the enormous amount of 500 000, 900, and We are all
but vassss 70 the Bank OF England
II holds the rod over III, and can apply IL wnen !.
pleases and tcH do as interest or pleasure shah
dictate.
Whoever thinks that we can have prosperous tunes,
without good, safe, mlred palsr and specie currency,
or have strong, useful banks with such iofeIgn
debt oycrhHnging Us Dis mistaken.
foreign dtjt that calls for hall the gold We Dig 10
pav the interest M ghtily dluttS our indsPadcHce.
The d.h must be cancelled, and nothing but return
TO u ssady unrdrerHg system OF home protection can
do il. , .
Void of that policy we import 80, 600 ,0Oo worth Ci
woolens year, every yard OF which should DC inade
here, and the money kept at hone-whe II Is saa We
have not Jingle brOadcloh factory in notion
One hundred and twenty nal1ai0n pounds OF Imported
wool is brought here for Us 10 wear, which our hi
sides and prairies could a. vel produce, ana our
farmers have the pay for il.
Nineteen million dollars in STEEL railroad and other
iron IS made for in foreign lands, by foreign hshd7
wi lie our own iron-work- still, and our workrneh
idle and begging for employment. 3
Sir, our own homegrown cotton must be totea on
10 England for her spn and send back for u ~ pay
for al ten times the price she gave Us TOR III ana s
is what j. falsely called Free TrGde.
For this deceptire starring, rrefcstf pohcy, 'nc "a
boring man is d,c0yed 10 vote The Democratic tckel;
Sir the single article OF for single year, had
been made here, as II might have been, ana su4uit
have beer and would have been under he IaIlh 81
1872 would not only have kept the money here pu' u
would have furnished employment for nifty inoasahu
men, and have made comfortable three hundred thoH
sand women and children, and they, IN turn, "ouii
have made hcmc market for the farmer equal 10 Inc
whole amount sold Great Britain.
Sir II is forthe party who, fer good or eN rae ..e
country to rtTacc their steps aGd allow ths ro'u
ruin 10 be trod 10 longer. What hss been uloSu
let cannot be restored The wounds may be he A'''
but the will remain IL,
Sir there is way to reieve the country, aod Dr.
is but ore way; and that way plain before y0' ''Du
truth and experience point you "a H. -,
IL tariff for I-otecticu and T,rtH nue. lncio'H-n
protective tanh never lacks reyen1e. ,,e,, A. a.
- et.x-a nj