Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-02-11
John SHERMAN IN BOSTON.

The Senator Speaks at a Banquet OF the
Home Market Club, Treating of the |
Traffic and the Surplus.
Buston, Feb. 9-Ihe dining halls OF
the Veudome were filled to overlooking
this evening 1t being the occasion OF
the banquet given. by the Home Market
club. There were present over four
hundred prominent men from various
sections of the country, among them
Senator Sherman, Hon. Nathan Gof,
Ir., Hon. Charles ii. Grosvenor and Hon
William Mckinley, Jr. After the cloth
had been removed, President Merick in
troduced Senator Sherman, who was
greeted with cheers. He said, in part:
When | think Of the contrast betweeo
our home market and the foreign
market, in magnitude and proportions,
the universal benefits OF oae and the
comparative Importance OF. the other, 1
am led to Wonder why SO many gentle
men OF education and character ere
willing to endanger the wonderful
development Of our home industries to
increase hi foreign competition. l
believe the best we can do for mankind
is to do the best for q country.
MIR. Sherman attacked Mr.. Lowell for
his speech at the tariff reform league
banquet. He found but very little in his
remarks about the tariff, but o good
deal about President Cleveland, Refer
ring to the surplus, MIR. Sherman re-
marked:
The surplus is q great deal better than
@ deficit. 1t has been growing since the
close of the war. It has enabled US to
perform the magnificent feat of rapidly
reducing the public debt, 9 policy which
has excited the admiration of the great
est statesmen of Europe. Why ls not
this surplus applied to the payment or
fault is IL that it accumulates in the
treasury? Plainly the fault OF Mr..
OleYeland, whose secretary of the treas
ury is authorized to apply this surplus
ct any time to the reduction OF the pub.
lie debt. II he had followed the example
of his predecessors he would, weekly
or monthly have purchased and retired
the public debt under the main pro-
visions of the existing law, But il the
president preferred to reduce the surplus
by a reduction of taxation. Why did
he not apply to congress o diminish tax
alton without disturbing home prodnc-
tions.P / know that at any time in the
last congress the taxation could have
been reduced but for the desire of the
speaker OF the house and the president
to strike at the home industries rather
than to. reduce taxation. 1 am decidedly
in favor of tariff reform, always have
been, and always will be. The tariff
ought to be carefully revised with the
view to correct any inequalities or ineon-
gruities that have grown u OF the
change Of values since the passage oil
the act Of 1888. Every imported article
which does not compete with on do
mestio industry, and is essential to the
comfort and wants OF our people. should
be placed upon the free list. Every raw
material or industry which does moi
compete with our own production.
should be especially selected for the free
list whenever any industry which can
be conducted in this country with
reasonable success needs . moderate
increase of duty for its protection.
II Congressman Mckinley followed with
q speech in support OF protection, anG
criticising the presidents message.