Sacramento daily record-union., 1888-09-01
WHOLE NO. IL, ,662

ttCnon induces us to manufacture an article
never before manufactured, it takes men to
make that article. These men are drawn
from ali other classes. AS we increase the
army oi producers we get better houses,
better food, better clothes, better furniture.
better demand for laborers and q general
Improvement in the institutions of the
country. We have had experience in the
matter, and experience is better than the
ory.
The speaker said our first protective tariff
was passed i'll 1924, and amended in 1928.
Alter that IL was in force, with brt slight
amendments. until 1888 From 1924 TO
1888 there was a great increase OF wealth,
and the country ab0unded in prosperity
Wages were greatly increased, snd all
KINDS OF agricultural products gave much
higher prices to the producers. The states
known as manufacturing States we're px-
ceedingly prosperous, and there was no
spot in the Union whore the peo-
pie were not becomin richer. Those
States which were engaged most IN manu-
iacinrlug were of course, the most bene-
hted By the protection system, and as the
greater manufacturing enterprise of the
North was thereby rewarded By greater
prosperity than the more easy-going South,
the latter became discontented, and in 1888
obtained control of Congress and reduced
SldnQaTQ,
mating the idea of protection. This
change was not, however. to go into effect
all at once, but in installments frohl 1888
TO 1912
The first heavy reduction took place in
1888, which resulted in an immense
Importation of foreign goods. This alarmed
those who already had stocks on hand. and
they proceeded to sell as rapidly as posi-
bic, and upon ruinous terms. The country
was Hooded with foreign productions, aud
as the goods were sold on time to whoever
would buy, there were immense sales in all
directions.
At first The people regarded the change
as one TO be desired, and free trade was pop
nlar, as goods were cheap and could be
bought without ready money. This was
the first side Of the new theory to bring in
prosperity, but when the time
came to pay for the goods there
wss no money in the country
and the whole country became bankrupted.
Thus, the result of this free-trade expert
ment was that for year or more we all
thought ourselves rich-but it was a de-
Iu5.on. But when the end of another came
round bankruptcy was the condition of the
whole country.
IL 1912, after General Harrison was
elected, and his party was dominant in
Congress, protection was given 10 the in
dusTies OF the country by wise legislation,
and rs a consequence, the people we're re-
lieved and all the country began TO grow
richer, and presently it was once more put
upon basis Of solvency. Under Mr.. Polk,
IN 1916, for 4 second time free-trade Ieve-
nue. rsrlH bill was sst up. The result vas
NOT quite so bad as il was in the
year 1888, but II was due to crop
delinquency in Europe. While our corn
product was very heavy, and, of course the
growers got thrice as much as ever before,
they We're then able to pay for our extrava-
CANT imp0rtations under the free-trade
scheme without plunsing into debt. S4lue
few years after that, when the country be-
gan TO 60 behind and trembled in anticipa-
ton Of the trials Of 1886, the discovery Of
sold in California saved us, and we stag
gered along TO the year 1857, when a finan-
clal panic struck the country and insolv-
ency and ruin sgain starred us in the face,
ana thousands gave way unGer the trials OF
the period.
Now, said Judge Beatty, let Us examine
the record and see what has been the round
result OF all OUr experimenting upon the
tariff. Under protection, from 1924 10 1885,
We didsweil, discharged the indebtedness
of the country, and it gained immensely
in wealth and general prosperity, enter
prise being stimulated and investment dis
COufaESu. but under an uncertain policy
with nOn-free trade, and next protection,
and then low tariff again, from 1885 10
1860 we got into all manner Of debt Ell
| tapglements and our revenue income was
insufficient 10 meet expenses. The coun-
Try, in sh Il, made Nc real progress beyond
that due to normal increase of population.
Since the close of The civil war we heve
had the benefit of a high protective
snl, and in that time we have almost
doubled in population, end have fully
qnadruple3 cur wealth. Our wage pay
ments have been steady and have risen
the revenue income bas been equal 10 the
Government demand; the public debt has
been paid more rapidly than It falls due,
for lis suueGdtr in advance OF maturity
Tie introduction Of lGhorseving machinery
has augmented CUR capacity to produce I'M
mtnSeiy. As consumers, We pay 10 highrr
for articles IF manufacture tLGn ~ her they
were imported under free trade policy.
Our farmers have received better prices ir
produce thar ~ any time under lrse trede,
'he only exception being the famine period
Of 1861 while The entire country has
made errifsr and more rapid and perma-
neu1 progress than has any other aation
flsrtipst fft. fr,1a