Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1884-07-23

lot Gnc presidency
AUGUSTA, ME-, July Is, 18S4.-HoN. JOHN
B. HENDERSON AND OTHERS OF THE COMMITTEE,
ETC. GENTLEMEN: In accepting the nOInina-
publican National Convention, I beg to express
q deep &c nse of the honor which is conferred
and of the duty which is imposed. I venture
to accompany the acceptance with some OBJ
servations upon the questions involved in the
contest-questions whose settlement may af-
feet the future of the nation fayorably or un-
favorably for long series of years.
In enumerating the issues upon which the
Republican party appeals for popular support,
the convention has been singuiarly explicit and
feicitous. 1t has properly given the leading
position to the industrial interests of the coun-
try as affected by the tar1ff on imports. On
that question the two political parties are radi-
cally in conflict. Almost the first act of the
Republicans, when they came into power in
1861, was the establishment Of the principle of
protection to American labor and to American
capital. This principle the Republican party
has ever since steadily maintained, while on
the other hand the Democratic party in Con-
gress has TOR fifty years persiStently warred
upon it. Twice within that period our oppo-
nents have destroyed tariffs arranged for pro-
lection, and since the close of the civil war.
whenever they have controlled the House of
Representatives, hostile legislation has been at
tempted-nevsr more conspicuously than in
their principal measure at the late session of
Congress.
THE TARIFF QUESTION.
Revenue laws are in their very nature subject
to frequent revision In order that they may be
adapted to changes and notifications 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 specific law. It Is far broader
and far deeper. It involves principle of wide
application and benefcent influence, against
theory which we believe to be unsound in con-
ception 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 American
industry, while our opponents insist upon re-
vision which practically destroys that policy.
The issue is thus distinct, well defined, and I'M
avoidable. The pending election may deter
mine the fate Of protection for q generation.
The overthrow Of the policy means q large and
permanent reduction in the wages of the Amer
lean laborer, besides involving the loss Of vast
amounts of American capital invested IN manu-
featuring enterprises. The value of the pres
ent revenue system to the people of the United
States Is not matter Of theory, and shall
submit no argument to sustain it. I only in
vite attention to certain facts Of official record
which seem to constitute demonstration.
In the census Of 1850 an effort was made for
the first time in history, to obtain q valua-
alton of all the property in the United States.
The attempt WAS in large degree unsuccessful.
Partly for lack of time, partly from predjuice
among many who thought the inquiries fore
Swallowed q new scheme Of taxation, the re-
turns were incomplete and unsatisfactory. Lit
tie more was done than to consolidate the local
valuation used In the states for purposes of
assessment, and that as everyone knows, differs
widely from q 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 fourteen thousand millions Of
dollars (S14, 000, 600, 000.) This aggregate was
the net result of the labor and the savings of
ali the people within the area of the United
States from the time the fret British colonist
landed in 1907 down to the year 1860. 1t rep
pesents the fruit of the toll of $50 years.
After 1860 the business of the country was
encouraged and developed by a protective tariff.
At the end of twenty years the total properly
Of the United States, as returned by the census
Of 1880, amounted to the enormous aggregate
Of forty-four Thousand millions of dollars
GA .0C0. O0o, 000.) This great result was at
tanned, notwithstanding the fact that countless
millions had in the interval been wasted IN the
| progress of bloody war. It thus appears
| that while our population between 1860 and
| 1880 increased 60 per cent. the aggregate prop
| erty OF the country increased 214 per cent
showing vastly, enhanced wealth per capita
among the people. Thirty thousand millions
| Of dollars $3.50, 600, 0eO, OOO) has been added
| during these twenty years to the permanent
| wealth Of the nation.
These results are regarded by the older ma
| tons Of the werld as phenomenal That our
country should surmount the peril and the cost
| Of gigantic war and for an entire period of
twenty years make an average gain to its wealth
| Of 1925, 600, 900 per month surpasses the ex-
| perience OF all other nations, ancient or mod
ern. Even the opponents of the present reve-
Tue system do not pretend that in the whole
history of civilization any parallel can be found
/ to the material progress OF the United States,
| since the accession of the Republican party to
| power.
The period between 1850 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 in the moral and
| philanthrophic field. Religious and charitable
! Institutions schools, seminaries 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
entire progress of the country in wealth has
| been accompanied and dignif1ed by broaden
| ing and elevation Of our national character as
! people.
| Our opponents find fault that our revenue
system produces surplus. But they should
not forget that the lay has given q specific
purpose to which all Of the surplus is profit
ably and honorably applied-the reduction of
the public debt and the consequent relief OF
the burden of taxation. No dollar has been
wasted, and the only extravsgance with which
| the party stands charged Is the generous pen
sioning of soldiers, sailors, and their families
| an extravaganza which embodies the highest
form of justice in the recognition and payment
OF sacred debt. When reduction Of taxation
is to be made the Republican party can be
trusted to accomplish 1t in such form as will
most effectively aid the industries of the ma
| ton. &&&as4 - sc -
| g. Sc q OUR FOREIGN COMMERCE. - a
| A frequent accusation by our opponents is
that the foreign commerce of the country has
steadily decayed under the influence Of the
| protective tariff. In this way they seek to ar
ray the importing interest against the Republic
an party. It is q common and yet radical err
ror to confound the commerce of the country
with iB carrying trade-an error often COM
misted inpocently and sometimes designedly-
but an error SO gross that it does not distin-
| guish between the ship and the cargo. Foreign
commerce represents the exports and imports
of q country regardless of the nationality OF
the vessel that may carry the commodities OF
| n,,.a do hoe from Otxyi.