The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-05-20

less and exit avagant expenditures, without
constitutional warrant. The people, almost
to man, were demanding its return to
them. So long as this policy continued,
largess and bounty for purely private pur-
poses, would be demanded
BOND BUYING.
1t was said that we still had large pub.
lie debt outstanding, and that the surplus
should be applied to the purchase of
bonds. AS long as we had it, the
surplus should be SO used, but it was
not sound policy to continue To raise reve-
nue. to buy nds at a premium. In one
month we had purchased $l3, 1000 900 worth
of bonds for which we had paid SIS, ,536,000
above the principal and accrued interest
1h1s unjust process must go on indefinitely
unless Congress came to the relief and re
duced taxation. He did not mean that
every interest should not be considered in u
friendly spirit, but he insisted that the in
terests of many should not be suhOrClinated
to the interest of the few. [Applause
Taxation should be distributed among all of
the people according to their ability TO pay
Until that was done, we should always be
embarrassed in the effort to Increase or re-
duce taxes. If the present measure should
TAIL and disaster come upon our industries
by reason of over taxation, the present
vicious system would be responsible for it,
lie called attention to the effect of past leg
lslation upon the tariff Gentlemen from
New England predicted in 1S46 that the
duties fixed by the law of that date would
ruin their textile industries. In 1857 all of
the New England members voted for a still
further reduction of 20 per cent. from what
they had called the ruinous low tariff of
1876
FREE TRADE FACTS.
In the free trade periods, as the Republi-
cans called the era from 1850 to 1850, the
wool manufactured products increased 46
per cent. and wages 81 per cent. Ap-
plause.l The increased product in New
England was 62 per cent. In hosiery the
product increased 421 per cent In cotton
the product in New England increased II
per cent. In boots and shoes, upon which
the duty had been reduced l6 per cent, the
increase in New England was S3 per cent.
The product in 1860 in New England was
more than the entire product of the Union
in 1880 This was what the Republicans
from New England had seen under a low
tariff. Within eleven years after the pas
sage of this bill the people Of New England
would vote for still further reduction, or, if
they did not, the people would send some
body here who would. [Applause]. They
had seen vast material progress, but they
had not seen tho trusts that throttled the
people; they had notsee thousands Of work
men marching the streets demanding work
or bread. These things had grown out of
our high tariff system. He quoted Charles
Sumner as favoring a reduction of the
tariff to the lowest measure consistent with
the demands of the government, which
was, he said, good, old-fashioned Demo
cratic doctrine [Applause.l Yet the
duties to-day were two and one-half times
as much as they were when Mr. Morrill,
said, tlirty-one years ago, they were
sufficient
BONDS WORTH THEIR FACE.
From 1916 down to the end of President
Buchanans administration not bond was
sold for less than par in gold, while many
were sold at a premium. After the act of
1861 was passed the Republican administra-
ton had sold bonds for Is per cent discount.
The government credit was always good
until the war came on, and free trade or
protection would not have saved the bonds
in that time of war. In view of the fact
that the internal revenue taxes remained
only on luxures it was but fair that any
further reduction of taxation should be
made upon necessities. Bu5 recognizing
the differences of opinion upon that
subject the committee had dealt with
botn subjects. He would have hesitated
to vote for the bill if he believed that
it would result in the destruction of a single
industry, but he believed it would benefit
all of them. [Applause.l Quoting John
Sherman, he read that the time had come
when the pledge implied by the passage of
the act Of 1864 should be redeemed.
LABOR NOT AFRAID.
Labor did not fear competition with the
pauper labor Of Europe, but did fear the
creation of our own laws. [Applause.1 He
did not know any place where the correct
principle of taxation had been more clearly
stated than by John Sherman. The state
mentS that protection enabled the manufac-
turer to sell bis goods cheaper and enabled
the laborer to get better wages, were utterly
inconsistent with each other. He did not
deny that there had been tendency toward
increased wages in this country, but it was
true of all other countries, free trade or
protection. There were other causes than
protection for this. and the principal one
was the enormously increased use of ma
chnery. In this connection hequoted from
the report by Commlssio or Waite, of the
Labor Bureau, to the Ways and Means
Committee statistics to show the effect of
the employment of mechanical forces. He
also pointed to the railroads, telegraphs,
steamboats, and increased facilities for ex-
change as elements that had brought down
the prices of goods and increased tle wages
of labor. All these influences are well
known. There is not a well informed man
in the country who does not know that
it is not the tariff, and not the
rates Of duty upon imported
goods, that have brought down
the prices of manufactured articles or in
creased the wages of labor, but the marvel
GUS inventions which have characterized
this age. as no other age before has been
characterized since the history Of man be-
gan.
THE HOME MARKET.
The gentleman from Maine talks about
the home market. We all know, he says,
that this protective system is beneficial TO
the farmer, because, first, it protects his
products against competition from the agri-
cultural products of other countries,
and, secondly, the gentleman says,
because it universities industry, and by in
creasing the number of people engaged in
other than agricultural pursuits, in
creases tho market for his product.
Now Mr.. Chairman, it is scarcely
necessary for me to make an
argument to show as to all those agricul-
tural products which the farmers Of this
country are compelled to send abroad to
sell at foreign prices that a duty cannot
be Of any possible benefit. The American
farmer understands this so surely, and the
fallacy Of this argument has 50 often
been exposed that It would be waste Of
time for me 10 dwell upon it, II is barely
possible that at some particular time and at
some particular point along the Northern
border, the duty upon barley and hay and
potatoes and eggs, and perhaps few other
articles may enable the producers or those