Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1888-09-13

don, but the existence constitutes a separate and
independent menace to the prosperity of the PEG
pie. This vast accumu alton OF Idle funds repre-
sents that much money drawn from the cireu-
latlng medium of the country. which IS needed IN
the channels of trade and business IL Is great
mistake to suppose that the consequences which
follow the withdrawal and boarding by the gov
eminent OF the currency Of the people are not or
immediate importance to our citizens, and only
concerns those engaged in large financial trans
actions.
In the restless enterprise and activity which
free and ready money among the people pro-
duces is found that opportunity for labor and
employment, and that impetus to business ana
production, which bring In their train prosperity
TO our citizens in every station and vocation.
New ventures, GeW investments in business and
manufacture, The construction of new and i'm
portant works. and the enlargement OF enter
prises already established largely depend Upon
obtaining money upon easy terms with fair Sc
curity: and all these things are stimulated By an
abundant volume Of the circulating medium.
Even the harvested grain of the farmer remains
without market, unless money is forthcorinE
for its movement and transportation TO the sea
board.
The first results of scarcity of money among
the people is the eZaction OF severe terms for its
use. Increasing distrust and timidity is followed
by a refusal to loan or advance on any terms.
Investors refuse all risks and decline all secur-
ties. and in general fright the money still
ed
It is quite apparent that when this perfectly
natural if ret inevitable. stage IS reached, de-
preston in all business and enterprise will a.
necessary consequence lessen he opportunity
for work and employment and teduce salaries
and wages OF I&b5r.
Instca@, til-r, CT ~ Ing EXEMPT from the irfl,,-
enCe =: : effect Of an :nlnes surplus lyirg i1ie
in the ma .on9I treasury. or w2ge earnerS, and
mcs5 Of all directly concerned in the situation
Others seeing the approach of danger may pro
vide against il but ii will find those depending
npon their daily toll for bread unprepared. help
less. and defenSeless. Such a state of affairs
does not present case of tleneSs resulting from
disputes between the laboring man and his en-
ployer. but it produces absolute and enforced
.stoppage of employment and wages.
In reviewing the bad effects of this accumu-
laf.d surplus and the scale of tariff rates by
which it IS produced, we must not overlook the
tender cy toward gross and scandalous public
extrava gancA which congested treasury induces
nor the fact that we are maintaining, without ex-
cuse. in time of profound peace. substantially
the rate Of tariff duties imposed in time of war,
when the necessities OF the government justified
people
DIVERS PLANS HAVE BEEN SUGGESTED
for the return of this accumulated surplus to the
people and channels OF trade. Some Of these
devices are at variance with all rules Of good
finance; some are delusive, some are absurd, and
some betray by their reckless extravaganza the
demoralizing influence OF a great surplus Of pub
lie money upon the judgments of individuals.
While such efforts should be made as are con-
sistent with public duty and sanctioned by sound
judgment, to avoid danger by the useful DISPOSE
ton of the surplus now remaining in the treas
ury, it is evident that il its distribution ac-
complished another accumulation would soon
take place, If the constant flow of redundant fn-
come was not checked at its source by q reform
in our present tariff laws.
We do not propose to deal with these conditions
by merely attempting to satisfy the people of the
truth of abstract theories, nor by alone urging
their assent to political doctrine. We present to
fhe m the proposition that they are unjusty
treated in the extent of present federal taxation
that as result condition of extreme danger
and hat JC oroH
and that defense and safety promised in the
guarantees of their free government.
We believe that the same means which are
adopted to relieve the treasury of its surplus and
prevent its recurrence, should cheaper to our
people the cost of supplying their daily wants.
Both of these objects we seek in part to gain by
reducing the present tariff rates upon the neces-
sarieS OF life.
We fully appreciate the Importance to the
country of our domestic industrial enterprise
In the rectiflcai0n of existing wrongs their main
tenance and prosperity should be carefully and
in friendly spirit considered. Even such re-
Lance upon present revenue arrangements
as have been invited or encouraged should be
fairly and justly regarded. Abrupt and radical
changes which might endangeT such enterprises,
and iujuriously effect the interests of labor de-
pendent upon their success and Continuance, are
not contemplated nor intended
But we know the cost of our domestic manu-
featured products is increased and their price to
the consumer enhanced by the duty imposed up
on the raw material used in their manufacture.
We know that this increased cost prevents the
sale Of our productions at foreign markets in
competition with those countries which have the
advantage of free raw material. We know that
confined to home market our manufacturing
operations curtaiied their demand for labor
irregular and the rate of wages paid uncertain.
Nepronose, theref re, to stimulate our do
nestic industrial enterprises by freeing from
duty the imported raw materials, which, by the
employment OF labor, are used in our home
manufactures, thus extending the markets for
their sale, and permitting an increased and
steady production with the allowance Of abun-
dQnt profits