The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-10-30

| III tuo haHoh aehSuTy III our NeBter
mountains are unlimited In extent, an
only require the magic hand Of labor /
enrich tho country. Our coal, iron an,
other useful metals have been com paru
lively untouched, and we only need pro
te:led labor and protected capital 10 enn
bio us 10 develop and utilize alI these ricl
and ineShauslible deposits. A ahor
time since We witnessed the strange spec
tacle OF most Of our gold and silver How
ing to Europe, at n time, too, when ",
needed 1t here, and when there was at
unusual dearth OF money In this country
Tor tho transaction OF our business bu
he lido has changed, and we are relain
Ing not only what We are producing. bu
we see large amounts OF foreign gold flow
Ing to this country, so that onr wealth !.
rapidly increasing from both domestic and
foreign sources OF supply. .
Free trade will change all this, and turn
the trade balance against us, and caust
money to again be insufficient for the bus
iness requirements OF tho country. The
abundance OF money, its free investment
and iree circulation and employment In
our home industries, causes prosperous
times. Protectlonists and FREQ trade both
agree upon that fixed and interchangeable
law ps political eCononly--true the world
oYer-that favorable balance OF trade Ia
conducive to national wealth, aud and I'D.
verse balance OF trade means IN
X. EXHAUSTION Oh. THAT WEALTH. a .EO.,
trequires no study Of political economy
to enable any man with ordinary >intclli.
gence to comprehend tho fact that ma.
ton that spends less than 1t earns practices
principles Of national prosperity. As m
illustration oil tho practical truth Of this
proposition. 1t is only necessary to ex,
anime the late panic. When our cradi,
was strain edito its utmost tension. and We
could borrow no longer, the crash came
and financial bankruptcy and dire disaster
was the inevitable result. This large
constant drain impoverished the
country. Money was scarce and times
were hard. The financial blow
injured every interest and at.
fected almost every individual through.
out the length and breadth OF the land.
The iron industries suffered terribly, and
most OF the capital employed in them was
not only Improbable, but in most cases
entirely wiped ont OF existence by the
heavy losses OF several disastrous years.
1t has become common statement OF
free traders that protective tariff builds up
and supports monopolies, and that it
causes the rich 10 grow richer and the
poor to grow poorer. ANY intelligent
man that looks about him can see nu mer.
Gus evidences of the utter fallacy of this
argument, and can find hard, indisputab!e
facts in abundance to disprove this favor.
tie free trade sophistry. s-rGnIa eF
Let us examine the iron industry,
which il the largest pro,ecte industry In
tho country. Tbs first inquiry can, with
interest, be made in the case OF the North
Chicago Rolling Mill Company, which
employs very many of you now before
mo. aud which now furnishes support to
1000 people. 'Ls=rr9 .G G''lf
During six years previous to last year
there was not single dollar. OF profit
earned by this Company, and not single
dollar Of dividend paid to the owners OF
the $4,000, 600 Of invested stock. Indeed,
in 1878 the stock WAS regarded as nearly
worthless .-it... ...-,.... :,
AT meeting OF the Directors Of the
Company In that year, a proposal was
made to close down the entire works and
keep them closed ,until times would
changeso AS to afford q chance to carry
them oil without loss, and tho proposal
would have been carried cut we're 1t not
ior the III .,.-, ID
..sm KIND AND HUMANE ADVICE pa
of the President of the Company, Mr.. 0.
". Potter His kindness and humanity
toward the 10000 people then in his em-
ploy, who we're atthe time wholly depend.
ent upon this work, and who would be
forced to join the already large army OF
idle and suffering people, alone kept tho
North Chicago rolling mills in operation.
The other rolling mills and iron com nan.
les generally Jared worse than tho one
Just cited. Without entering into par,ic.
ulars, let LIB look alta few significant facts !:
The following facts and figures connect.
ed with these "monopolies" are well
known to yon and the general public. The
Milwaukee Iron Company failed, with
losses OF over 81, 100000. The Jolie, Iron
Company failed, with loosen Of. over So
0O0,0 The Vulcan Iron Works, of St,
Louis, the main rolling mill of tia: city,
failed after having lost 81 SOC, 400; and tie
Decatur Rolling Mill Com pany was com.
plc,ely ruined. This is the history of the
mills representing by fur the msiority OF
the cani,al invested in iron nanuluc,,ifipp
in the West, and in Pennsylvania aud the
East the number, extent and ratio Of
losaes were, II anything, still greater.
OF capital invested in mills manufactur.
ing railroad rails ami other iron, IS per
cent was lost during the last panic in
bankruptcy; and OF the remaiuing is per
cent, none, except in very rare cases,
earned any profit whatever. : -" E,.'
Now, abundancs of sound money,
caused by good crops and wise Legislation
and 1.-THE restoration Of CONFIDENCE, has
brought ahout our present lourishing con-
dition. Never before in the entire history
OF the country has our currency been so
good, or 80 plentiful, as at the present
time; and our laborng, our business, and
our commercial classes have. never before
enjoyed such general prosperity. Plenty
Of well.paid work, plenty OF sound money,
enormous grain crops, thriving manuiac.
lures, and abundance OF profitable bnsi.
ness, characterize the present period Of
our history, -,z+tt aN5 sif' ,'1'
Our abun dant crops, pa3ae'l in Europe
to keep tho people there from stapraiiag,
have attracted here foreign gold, and our
wiso protective tariff laws hold this vold Ia
the country. md thereby has enabled our
idle mills and iGctores to BE- again started
up, and be put in busy operation. ~. ~
Shall American or European interests
receive thu protection Of American
uatinnal glegislation3 Shall we%unsct,le
CONFIDENCE by pucing the party 81 free
trade and otnneppnd Rnd false principles
as to finance and other grave questions Of
governmental policy in power4 Shaft w
part with a certainty and run the danger.
ons rIst Of Uncertainty? Do you as labor.
ing mon and as Intelligent citizens, in view
Of tho threatening danger AND insesArily
as to the luturs, deem it wise that we
should institute change, and experiment
where there 10 no possible chance for In.
proyeMent, but every risk Of injury to
every concern that can be effected by I'M.
wise legislationY While De5,ocratic office.
seekers are begging political office, Eng.