Wichita daily eagle. [volume] (Wichita, Kan.) 1884-1886, 1885-03-04

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we keep a high tariff in this country
we shall keep the balance of trade III
our favor, and il we have . low tariff
the balance of trade will be against
us. 1t stands congressman in hand to
investigate this subject from the right
standpoint. In the meantime. every
man must see that it is greatly to the
interest of the debtor classes of this
country that we have for our money
both gold and silver coin, so that we
can have a double reservoir to draw
from, and consequently have larger
supply of coin.
The total amount Of gold and silver
produced in this country during the
past fiscal year was $40 100000. Of
this SAC ,2OO, 900 was silver and $780,
OOO, 600 was gold. According TO the
statements of MIR. Burchard over $780,
OOO, 600 of gold and silver coin and bull
ion are used annually in this country
in the arts and manufactures.
Now one danger from the stoppage
of the coinage of the silver dollar is,
it would result in serious contraction
of the currency. The national banks
contracted their currency last year TO
the extent of about $1S, 00O, 900. The
increase in the amount of silver coin
more than counterbalanced that, SO
we really had no contraction of the
currency of the country. But if silver
coinage is stopped, and the contrac-
ton of bank notes goes on, it will lead
to such contraction of the currency as
will greatly interfere with the bust
ness prosperity of the country, make
money scarce, shrink prices, and
bankrupt debtors.
The free trade club of New York
held their annual dinner at belmont
cos on the evening of Washington's
birthday. After the repast toasts
were responded to by David A. Wells,
Henry Ward Beecher, Evart P.Wheel-
er, J. b. Sargent, Prof. VIM.
J. Sumner, of Yale college.
and DIR. VIM. Everetts, OF Bos-
ton, and others. David A.
Wells and other strong advocates Of
free trade, state the following as a
fundamental principle on which their
arguments are based:
"A protective tariff is tax laid
upon foreign imports, which cOmpels
the American consumer to pay the
price of the foreign article, with the
nestle products.
Mr.. Beecher made a statement in
his speech last night, which rather re-
flutes that idea. lie said:
Under the false system of proiec-
ton industry upon industry has
sprung up, and the internal cOmpeti-
ton has proved more than they could
stand. Hundreds of thousands of
working men were out of work to-
dav because protected industries in
this country have ha dover-prOduction
aud had no market specially TO take
their wares"
Beecher further declared:
That he would have no import du
ties at all, and that all the revenue
required TO support the government
should be raised by internal taxation
Now if it is fact as stated by Mr..
Beecher that owing to protection we
have bu iii u, industry upon industry,
and overstocked the market, we evil
IDENTIFY have surplus of goods, which
would inevitably reduce the prices so
that the theory of protection declared
by Mr.. Wells must be false, or the
facts stated by Mr. Beecher must be
ficiions.
Mrs. Dudley, O'Donovan Rossa's
assassin, has been indicted by the
grand jury for assault IN the first de-
gree. Mr.. Rosa has So far recovered
as to be able to be out, and he is adj
vertised to lecture in Fall River before
a Trades society there. Mrs. Dudley
announces that sine is going to start a
paper TO be called the United English
man. in opposition to O'DOnovan
Rossa's paper, the limited Irishman."
Short, the dynamiter who attempt
ed TO murder Capt. Phelsn, is still in
Jail. His bond has been placed at 49,
600. When Phelan was brought into
court to confront Short, the latter's
counsel demanded that Phelan's per-
son should be examined, and the po-
licemen in charge found a loaded re-
volver in his pocket, which was taken
from him: The dynamiters are keep
ing remarkably quiet lately. The at
tempt to assassinate one of them has
cooled their ardor. Even Patrick
Ford has become frightened at the
prospect of being blown up with dyn-
amite. f. P. MILLER