The times. (Owosso, Mich.) 1882-1897, 1884-10-24
AUGUSTA, Me-, July 18th, 1884.

The Hon. John b. Henderson and others of
the committee, etc, ETC.:
GENTLEMEN-In accepting the nomination
for the presidency rendered me by the Re-
publican national convention, beg TO ex-
press deep sense of the honor which n COM
ferred and of the duty which, is imposed. I
venture to accompany the acceptance with
some observations upon the questions in
volved in the contest-questions whose set
Element may affect the future of the nation
fayorably or upfav9Tabiy for long series of
years
In enumerating the issues upon which the
Republican party appeals for popular sup
port, the convention has been singularly ex-
plicit and felicitous. 1t has properly given
the leading position to tho industrial inter
vw.Ss, WIS country as affected py the rarin
on imports. On that question the two politi-
cal parties are radically In conflict. Almost
the first act of tho Republicans, when they
thne into power In 1851 was the establish
Ipent Of the principle Of protection to Amer
lean capital. This principle the Republican
party has ever since steadily maintained, while
on the other hand the Democratic party in
"a r. II Ell ssrsS T ct
opponents have DESTROYED tariffs arranged
for prote. ion, and since the close Of the
civil War, Whenever they have controlled the
house Of representatives, hostile Legislation
has been attempted-never more conspicu-
cMly than Id theET r..incipal measure at the
late session OF congress.
e, THE TARIFF QUESTION
Revenue Laws are in their very nature
subject to frequent revision IN order that
they may be adapted to changes and modi-
ficatio5ns Of trade. The Republican party Is
not contending for the permanency of any
particular statute. The issue between the
two parties does not have reference to a
specific law. 1t is far broader and far
deeper. 1t involves a principle of wide ap-
plication and tenefcient influence, against
theory which we believe to be unsound in
conception and inevitably hurtful in practice.
In the many tariff revisions which have been
necessary for the past twenty-three years, or
which may hereafter become necessary, the
Republican party has maintained and will
maintain the policy Of protection to Ameri-
can industry, while our opponents insist
upon revision, which practically destroys
that policy The issue is thus distinct, well
defined and unavoidable. The pending cleo
ton may determine the fate of protection
u
policy means large and permanent reduc-
ton in the wages of the American laborer,
besides involving the loss Of vast amounts
of capital invested in manufacturing enter
prises The value of the present revenue
system to the people of the United States is
not matter of theory, and / shall submit
it, / only invite attention to certain facts
ofs official record which seem to constitute q
demonstration
In the cepsus of 1850 an effort was made,
for the first time in our history, to obtain a
valuation Of all the property in the United
States. Tho attempt was in large degree uu-
successful. Partly from lack of time, partly
from prejudice among many who thought
the inquiries foreshadowed new scheme Of
taxation, the returns were incomplete and
unsatisfactory Little more was done than
to consolidate the local valuation used In the
states for purposes of assessment, and that
asseveryone knows, differs widely from a
complete exhibit of all the property.
In the census Of 1860, however, the work
was done with great thoroughness-the
distinction between assessed" value and
"true" value being carefully observed. The
grand result was that the true value" Of
all the property in the states and territories
excluding slaves amounted to $4,000, 000,-
900. Inis aggregate was the net result Of
the labor and the savings of all the people
within the area of the United States from
the time the first British colonist landed in
1907 down to the year 1860 1t represented
the fruit of the toll of $50 years.
After 1850 the business of the country was
encouraged and developed by q protective
tariff. AT the end of twenty years the total
property of the United States, as returned
L.. L. "A A nYn
000,0 This great result was attained no.
withstanding the fact that countless millions
had in the interval been wasted III the prog
ress of bloody war. IL thus appears that
while our population between 1860 and 1880
increased sixty per cent, the aggregate prop.
erty of the country increased two hundred
and fourteen per cent.-showing a vastly
enhanced wealth per capita among the poo
pie. Thirty thousand millions of dollars had
been added during these twenty years to the
permanent wealth of the nation.
These results are regarded by the older ma
lions of the world as phenomenal. That our
country should surmount the peril AMI the
cost of gigantic war and for an entire pe-
Rod of twenty years make an average gain
to its wealth of 1926, 100000 per month sur
passes the experience of all other nations,
ancient or modern. Even the opponents of
the present revenue system do not pretend
that IN the whole history Of civilization any
parallel can be found to the material prog
ress of the United States, since tie accession
OF the Republican party to power. F
Tho period between 1867 and to-day has
not been one of material prosperity only. At
no time in the history of the United States
has there been such progress Ill the moral
and philenthropic fields Religious and char.
liable institutions, schools, Summaries and
colleges, have been founded and endowed
far more generously than at any previous
time in our history. Greater and more
varied relief has been extended to human
suffering and the wealth has been accompa-
MED and digniaed by q broadening and ele-
walton of our national character as a people.
Our opponents find fault that our revenue
system produces asurplus But they should
not forget that the law has given a specific
purpose to which all of the surplus is profit
ably and honorably-the reduction of the
public debt and the consequent relief of the
burdens of taxation. No dollar has been
wastAd and the only extravaganza with