Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1888-09-06


we are now in the twenty-eighth year
Of a protective tatitt, enacted by Re
publican Congress, and made more effect
i've from wear to year as industrial expert
ence enabled Congress from time TO time
to correct and adjust its workings. How,
then, stands the matter no the end OF
twenty eight years OF projections The
wage, workers of New York aud New Eng
land have $4,000 900 70 their credit, or
nearly eight times the amount gained
under twcnty-eight years of free trade IN
the same States. The population OF the
seven states at the close ut the long era of
free trade was 7,2500o0 and their pOpula-
ton in this twenty-eigAt years OF protec-
ton is presumed To be 100000 The
wage-worlcrs OF these States, toiing I'M
der revenue tariff such rs is recommend
ed by the presiicnt, had earned a surplus
amounting TO $3.50 for each person OF the
entire population, wGlle the wage workers
for the latter period, under protective
tariff, have earned SOS per head for tho
total population, or, In other words, the
average wage-worEer under a protective
tariff IN the United States has been en-
abled 90 save 1--WE times ns much rs the
average wage worker under o mere reve-
nue. tariff
In pursuit of thus subject along tho
line suggested. without being really
brought out, we turn 90 the report OF
the Comptroller of the Currency for
1882. saws tho I3tlr Oe6In SO long as
the banks of the country were obliged to
submit TO internal revenue taxation ON
their capital and deposits the annual re.
ports of that officer Of the Treasury De-
partmcut furnished much valuable in
formation pertinent 20 the present in
quiry. The last OF his reports relevant
60 the subject In hand was the Que fer
iSS2 Six years have largely increased
the aggregates rs To commercial and
savings banks but not materially altered
tho relative number OF banks or amounts
Of deposits
At that timo there were GSi CONNER
cial banks, including private banks, as
well as State and National banks, and
661 savings banks more than ten TO ono
in favor OF the commercial banks The
total number was 7.4iS. aud The total Dc
posits 80 SOP 300. 600 In other words.
while there arc ten times as many com
mercial banks as savings banks, the de-
posiis OF the former are only twice those
OF Che latter In other words, the aver
are per bank Is five times larger than iG
| is i'm the case of commercial banks, Com
| pare this with tho savings deposits OF the
! United Kingdom in 1882. The latter
amounts 10 SlJ3 600 OOO. or less Than
half those OF the United States while the
commercial bank deposits were So $780,
| 600 000, or a thousand millions in excess
/ OF ours ia this country TO put il In
still another light. While the savings
deposits of the United States are one
! half those of the commercial banks,
those of Great Britain are only one
seyeuth as large MS tho commercial de-
| posits. In free trade England the em-
| ployors have seven dollars In the bank
/ to their employees one, but in this couu-
! tsy they have only two 10 their one.
Returning now to ME- Blaine speech,
/ we find timely argument In mfutation
! of the prcleuse that tafin for protec-
/ ton works TO the disadvantage Of agrl-
culture This phase OF his discussion Is
! three fold FIRST The West. second tho
South. aud third the Paci6a States. In
each casc 10 Is shown lhut protection Is a
| benefit to The tllers of the soil He
elbows that the West has Increased IN
werIth moro rapidly than the East, that
the South hns moro than made good her
war losses, and that California Is getting
rich from the production Of fruits and
fruit products which could not live in
this country without protection.