The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-22

Dean necessary
is to tariff, and the average Democrat goes
into fits, then he is easily managed
would not attempt to defeat lt IN derali any
more than l would attempt to defend Number
Ones investment IN dog-churDs but / would
say that the mistake in buying these is no argu-
ment against improved machinery, and least of
which resulted in tho great prosperity of Num-
Der One. The idea of the Democratic party s
criticisiug the general policy of the Republican
party, with it's results manifest, and in such
contrast with the results of the Democratic pol
icy. is absurd the criticisms OF poor old
Number Two on the general management OF
Number One. Number Two ought to hide his
face in shame. He has been failure always.
just so. if the Democratic party had any sense
of the prop rieties of life itTwould hush its crit
cisms. and beg pardon for having ever existed
u. l.. SEE.
Free Trade Would Confscate the Farm and
the Cottage Well the Factory.
To the Editor of the Indianapolis Journal
That the farmers and workingmen of Amer
lea are not we'll off as they would like to be
is truth which mantregrets more than I.
But what boon would the7free-trade Democracy
bring fnem7 The triumph of the free-traders
would coniscate one-half the farms of the West
and of the South, and more than half the cot
tages of al. the towns in the country in less than
four years. Now let us sec how it would hap
pen.
On Jan. 12,~Iss6 Hon. John Fl. Reagan, Of
Texas, said in his place in Congress: IF our
silver is demonetized Tor if our gold and silver
are driven out by unfavorable balances Of trade,
the result will be that all bonds and securities,
national. State municipal, corporate and
private, will be doubled in value compared
with the labor and land by which they are to be
paid. and land and labor will be reduced ONE
half in value" Mr. Reagans theory shows that
the debts, public and private, foot up sl7 24o,-
426, s38. He then shows that the value
49, and rfcac II
pay, the value of land and labor and the value
of bank notes regulated and controlled by
the amount of gold and silver retained In the
country; and sums ND thus: 1.-The adoption of a
policy that would require twice as many days OF
labor, twice much of the products of the
farm. as are now required TO pay on those
debts public and private, which will increase
the wealth of the few and increase the poverty OF
the many. will be the longest stride ever taken
toward the overthrow of our freedom and the
establishment in its stead or q government or
fraud and force. America would then become
the prey and the spoil of the rich few and Of
their corrupt associates"
Mr. Reagan candidly admits that if the bal
ance Of trade turns against America her gold
and silver will flow out and all those evils will
come to pass. But will free trade drive out our
precious metals2 We had tariff for revenue
only from 1890 to 1908 in each of those years
fluid the balance of trade against us; at the end
OF tue eiehtesn years ne pntayora'ie balances
revenue only from 1915 to 1874, and the balance
of trade was against every year, except one when
our credit was trailed in the mud and our conn
try gazetted over the globe as "a BANKRUPT ma
ton" At the end of the ten years the balance
footed up $2l4 III 958
We had a tariff for revenue only from 1883
to 1912; in nine years out of the ten the balance
of trade was against us. amounting in the aggre-
gate to $40 O0O 000 We had a tariff for rev
snue only from 1847 to 1860; in twelve out OF
the thirteen years the balance of trade never
failed TO be against us; at the end those unfavor-
able balances counted up to 1856 OBJ, 0T8. Those
balances OF trade and the amount of gold and
e. adar e. Ia han
have far more weight with lrish-Americans
than the religion Of any aspirant for the presi-
dency. In 1852 the balance against America
was $40 800 600; in 1853 IL was $50, SOC, 600; in
1854 1t was 500. 700, 600. To make good those
balances, John Bull took away $4,000, 900 of
gold and silver in 1857; In 1853 he got 500. 600 900
In hard cash. and In 1850 he took &c., 900 000
REAGAN ailo WIS, WAtterson allows. David Hume
allows--every man OF sense allows-that, IL
tho metallic money OF the nation 10 taken
away, neither man nor God can ave the farm.
crs, laborers and mechanics from ruin Did
Walker tariff and tho Guthrie tariff
Read tho following from Gibbons Banks
Of New York. page lac: IAN avalanche
OF discredit swept down merchants, bankers
and all corporations without distinctions the
purchase of produce almost ceased; the discount
Of bills by tho banks nearly ceased the street
rates ran up M hieh ns ber cent. per month
on ordinary security, suchIas bills OF EXCHANGE
At any rates whatever"
Nothing NJ ali 10 here said OF the hosts of
ass sss s a of shoss
times; and but very little confederation 10 given
10 the farmers who rave GQ PEP cent per an
mum for the use of money and sold thsir produce
ut the end OF the year Mt depreciation Of ID
per cent On this poipt much may DO said, and
viii be- said, unless drop Oh before tho cam
paign opens. SO
IL IL nm admitted fact that the taking away Of
any considerable portion OF our metallic money
would bring prices so low NJ 10 cause tho value
OF bondz and mortgages 10 be doubled, while
a a Il w
are hypothicAted would be reduced one.half.
Now let's take passing glance at those West.
Cobdsn Club have shed 40 many tears.
The report Of the commissloner OF the Labor
Bureau Of Michigan shows that Of 90 SOB farms
90 per cent Of their va!us the report Of Charles
j., Mills. Of the Illinois State Board OF Agricuit-
ure, shows about the same result la that
farms of tho West and Of the Sonth ara heavily
NOR tagged. Bring down prices. thon how can
those mortgages be- paid OH 1mposhible! II
you drive our metallic money over 10 England
In exchange for her wares. You run tho mort
cages and the interest thereon up. while you
run tho price OF produce down. What theni
Exit farmer. DIR. Soetbeers estimates the total
products of tho gold and silver OF ths world,
from i492 10 1875 At 1900 900, 000 which N
less than two-thirds Of the burden Of debt now
rcsting upon the land and labor OF Amer-
lea. Pnll down the price Of labor
and land (which would be tho result Of diving
out our money! and increase the price OF money
Anu IHurLgHgrbs Whhb tnebt SucH y GoHHhSation
of property M the Sun never saw till now-sueh
anarchy, such bloodshed. such riots and rnfiian-
ism as would throw the French kevolutondnto
tho shade. Do you doubt III To do is to
brand American manhood with cowardice. pol
troonery and slAvishness. Our debts, public
and private have been contracted underin-
fated prices; 10 force down prices and demand
the full payment of the debts would DO q spolia-
ton and robbery which Americans viii not
stand. Sc
One of their own fold tells that the fres-trade
Democrats dream of cheap prices; that they soc
cheap prices in the clouds that the wind
whistles cheap prices in their ears that cheap
prices is their morning q lullaby. and their last
requiem at night; that, ia word, they
meet every question with cheap prices. Good
God! What ia there in cheap prices. except ruin I
to the farmer. ruin to the laborer, ruin 20 the
mechanic, ard ruin to all except the bond
holder, the money-lender and that latest, mean
est Of all parasites-ths gentleman of leisure.
There passes before my eyes. at this moment