The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-07-31
THE PLEA OF GREATNESS.
How the Reduction of Prices Affects tn

How the Reduction of Prices Affects the
Farmer and the Man Who IL in Debt
The free-trade attorneys claim as the chief
merit of proposed tariff reduction that it will re-
duce prices. And in this they are at least par
italy correct. The recent experience Of England
under the fiscal policy now advocated for this
country shows that cheaper wheat from India,
cheaper meat from America, cheaper wool from
Australia and South America. have made uu-
profitable lands at home; that values of English
farms have fallen off 40 to 20 per cent, while
each year large tracts are withdrawn from
tIllaRe.
II a like result of cheapness is to follow an ap-
proach to free trade here. an alternative is pre-
scented which it is well for . large class of our
people to seriously consider before aiding to
strike down the policy under which our country
has hitherto made such advances in wealth and
greatness.
We may well be appalled, in contemplating a
shrinkage in real estate values in the United
States to one-half the extent experienced 10
England, and the losses Of farms and homes it
would entail upon those industrious toilers who
have incurred debts in securing homes for them.
selves and families. u nder q decline of one
fourth its present value, the man who had
bought q home for 81, 900, and by years of indus
try and saving paid 81, 900, would still and him.
self owing 81, 600 for property worth but 81. 500.
In the midst of the "cheapness' with which be
had been ~cajoled. the payment of this sum
would be more difficult than the original s.. 900
nNS SA'csAu6 Vi Iodul b6I6 u UrOu-
ucts and fair returns for labor. II the adoption
of the English policy by the United States
should be followed by one-half the reduction in
real estate values that England has experienced
within the past few years mortgaged farms and
homes would revert by thousands to creditors
who, like the landlords of England, would per-
NIT what could not be rented to 60 out OF tillage.
In no other country than ours does so large q
percentage of farmers own the lands they cuiti-
vate. In no other country is there so large q
proportion Of workingmen who own the homes
they occupy. In no other country does the
fiscal policy so decidedly favor the man who
honestly and industriously endeavors to better
his condition in life. Nowhere else in the world
can tho laborer get so many of the necessaries
and comforts Of life for a days work as here in
the United States. All this we are asked to
menace by adopting a policy that has thrice
brought disaster TO the business of this coun-
try, a policy with but one aggressive advocate
among all the nations of Europe-and that one
nation to-day presenting within her borders
some of the strongest possible arguments
against the policy she seeks to enforce upon
others. While the Golden Club and leading
British journals are preaching the benefits of
free trade. the British farmer is depressed, 800,
900 workmeu are idle, and the police of London
are kept busy expressing uprisings Of men
made desperate by hearing their children cry
for bread. Nothing can be dearer than cheap
ness bought at suck a price; nothing more IN.
American than a policy which makes such q con.
dition possible.