New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-03

wears of pcace Ii was a striking PROOF oil the conn
dence inspired by a vigorous management Oh a"'n'
that at the very outset the Government oo'''"'
loan tenfold greater than Mr. buchanan nau "SNou
for at rate of interest only two-thirds as e'o''
Military oneratIons never lalguished for want VI
funds Operations on the most enormous sono
were promptly carried through; ana altnousn ~"
expenditures reached gigantic hgnre tlo "", Ion
credit rose and money was borrowed "'"'"'
Guilty. The revenue from customs was nv, 49,,
tbrcefold within three years, and an intein"' rev
oo s,.s+,r, was created which collected during the
GOA. ending in June 1863. no less than Two hun-
drod and nine millions of dollars MI bouV"oH
colls il the largest branch of Il government ever
organized in historical times" Nor was tie country
during this era of vast outlay oppreSSe" ny "a
cessive taxation On the contrary, labor anu c"p',
tal were proftably employed, the people adlus'ou
themselves easily to the new monetary cohu'l'o"''
and business in general was unusually prosperous
Probably no part of the Republican inahchl poHo!
had more direct influence upon TINS SPI'hu'" IT,
srlt than tbe establishment of the National Bank
inc system. giving the whole country a safe aud
uniform currency readily adaptable to the wants
of trade and secure from fluctuations OF value-ln-
comparably the best system enjoyed by any people
The reduction of the war debt went on so rapidly
after the close of hostlities that bonds were re-
funded at low rates of interest, and the four per
cent OBLIGATIONS of the Government rose to a pre-
mum of % per cent. Never indeed has so great a
work been accomplished in So short time ana WIN
so few drawbacks. And il should be remembered
that in finance politics and i'll war. the kepup-
licon marty has had to contend against Democratic
opposition. and the mischieyous dclusions OF Fac
lions with which the Democracy has been in more
or less intimate alliance. 1t has succeeded under
the most trying circumstances IN keeping the ha
tons faith with its creditors, when the party
which would have surrendered the Union wished
to crown it's record of dishonor by regulating
part of the national debt Nor is this all. As the
Republican party established the right of the
Government to defend its existence Icy the sword
so also bv the lcgal-ender act-the principle OF
which has been sustained 10y the highest conit-h
vindicatcd the sovereign right of the Government
TO borrow the money necessary for lts preservation
simultaneously with the prosecution OF the war
and the adjustment of the finances the party talreu
ont the great policy of protection TO American IN
dustry which II has always profossed as one OF ts
cardinal doctrines. The treatment of the industrial
interests by the Democracy has been vaciIlatne' IN
sincrte and uron the whole nfiendly About the
Republican attitude there has never been any
doubt. IA ~ result Of twenty years Of Republican
ntotertion the cnriIa invested In manufactures
moro than doubled piNern 1850 aud 1850, tho
product moro than doubled the wpscn paid grew
nraii, ihtrrfnd the AVERAGE earned by each lphotct
toAa ftotn HAAS poi annum a. filu rrt auhur.
Careful htatatioa bhow that while there han been
no increase Ia tho cost of living during that period
the wages ot mill operatives have increased 20 per
cent aud that class of laboreta have made an an
nual gain of no less than one hundred and hhtF
millions of dollars, which they have either held as
capital OF expended in additions to their comfort
But system which adds 20 per cent to the wages
.n,..fl nal la fIla
of every class of aborers within the influence Of the
system; and upon that basis we find that the total
gain to the laborng population of the United
States under the protective system, reaches the
enormous figure of eight hundred million dollars.
Z" If liberal allowances be made for errors, or even
for exaggeTations, there will remain substantial
quantity of truth justifying the statement that any
change of policy which affects unfavorably the
manufacturing industries of the country, and es-
pecally any change which transfers the business in
any sensible degree to England the Continent OF
Europe, is q policy fraught with peril TO every
aboTer and every capitalist in the land. The trans
fer of half a million of laborers from the mills to
mining and agriculture wonld PROSTATE the entire
system of labor for the whole country"
Wemust pass over rather briefly Mr.. Boutwells
admirable statement of what the Republican party
has done to secure homestead lands for actual
settlers what it has done to promote education and
what il has done to protect our citizens abroad.
We shall only remind the rea1er 'h"I 'ne iioihc-
stead bill was a Republican measure enacted over
the veto of Democratic Iresldentj that the SAM
President vetoed the AgrcHitur'l CoHeso oNI'
that the Republican party alone mas ever uohe any
thing for the education OIL the plaokS; ana 'n"l inc
Republican party mas uone more Ioi INC S"io'S VI
naturalHed cltHehs 'nai INC D'''o0iut' pau. "''
ever attemp'eu III 'ne Wnoio 'o"''o " -,
Ihe great danger 10 tno ''''1'" '"I !"
the claim OF nearly al european governments '"i'
the individual haa no rIen' 10 ch""s' ms "'i's'-
ance ana WhlIe uhs cI'liii was ",''l"''" We '',''
not eiectuallY interfere III MS pchal il Oh rev !SlS