The Sully County watchman. (Clifton, Dakota [S.D.]) 1883-1894, 1888-09-08

We are now in the twenty-eighth year
of n protective tariff, enacted by Re
publican Congress, and made more effect
i've from yenr TO year as industrial expert
ence enabled Congress from time to time
TO correct and adjust its workings. How,
then stands the matter at the end of
twenty-eight years of projections The
wage-Sorkers of New York and New Eng
land have $4,000 JOp To their credit, or
nearly eight times the amount gained
under twenty-eight years Of free trade In
the same States. The population of the
seven States at the close OF the long era of
free trade was T.25O00l. aud their popula-
ton in this twentv-efght years OF protec-
ton is presumed to he 100000. The
wage-workcrs or these States toiling un-
der u revenue tariff such as is recommend
ed by the President, had earned a surplus
amounting TO $3.50 for each person OF the
entire population, while the wage workers
for the latter period, under u protective
tariff, have earned $65 per head for the
total population; or, in other words, the
average wage-worker under a protective
tariff in the United States has been en-
abled 10 save five times rs much as the
average wage-worker under mere reye-
nue. tariff.
In pursuit of this subject along the
line suggested, without being really
brought out, we turn to the report OF
the Comptroller of the Currency for
1882, says the Inter Ocean. 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-
partment furnished much valuable in.
formation pertinent to the present in
quiry. The last of his reports relevant
| to the i@ct in hand was the one for
| 1892. Six years have largely increased
the aggregates as to commercial and
savings banks, but not materially altered
| the relative number of banks or amounts
of deposits.
| At that time there were G, 6S1 CONNER
cial banks, including private banks, as
we'll as State and National banks, and
| G61 savings banks more than ten TO one
| in favor of the commercial banks. The
total number was T. AS, and the total de-
| posts s., 902 300 900. In other words,
while there are ten times as many COM
mcrcial banks as savings banks, the de-
| posts OF the former are only twice those
| of the latter In other words, the aver
! age per bank is five times larger than it
| is in the case of commercial banks. Com
pare this with the savings deposits of the
/ United Kingdom in 1882 The latter
amounts to Si02. 600, 900. or less than
| half those of the United States, while the
| commercial bank deposits were 81, $780,
/ 600 900, or a thousand millions in excess
of ours in this country To put it 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
seventh as large as the commercial de-
posits. In free trade England the en-
ployers have seven dollars in the bank
TO their employees one, but in this coun-
try they have only two to their one.
Returning now to Mr.. Blaine's speech
we find "A timely argument in refutation
of the pretense that u tariff for protec-
tion works to the disadvantage of agri-
culture. This phase of his discussion is
| three-fold first the West, second the
South. and third the Pacific States. In
each case it is shown that protection is
benefit to the tilers of the soil. He
shows that the West has increased in
weflth more rapidly than the East that
the South has more 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.