The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1888-10-03

If YOU will reflect for a moment you Will
see that there is one element of unfairness
in this table to both protectionists and
anti-protectionists. The advance from
1860 to 1870 is represented in the begin
ming in a normal currency and at the close
in deprecated currency; while from 1870
TO 1880 the reverse is true, the figures for
1870 being in deprecated currency and
those for 1880 in normal currency. The
latter makes an unfair showing for the
protectionists and the former for their OPP
ponents. We shall come nearer the truth,
therefore, if we take one-half of the adj
vance from 1860 to 1880 as the average
advance of the last two decades.
BY this method it appears that Indiana
advanced OIL per cent, Massachusetts, Is,
and Pennsylvania % in a decade of low
tariff; while, on the average, in each of
the two decades of high tariff Indiana adj
vanced 5S per cent, Massachusetts IS per
cent, and Pennsylvania 70 per cent. This
demonstrates the proposition; but it may
be asked why Indiana increased more
than Massachusetts and Pennsylvania
from 1850 to 1860, when there was tariff,
though it was low one. The reason is
the difference in population. Indiana in
creased 50 per cent. IN population
during that decade, Pennsylvania
p per cent, and MASSACHUSETTS 81
per cent Now an increase of
population adds more to the wealth of a
large state, like Pennsylvania, or new
state like Indiana, than to a small and old
state like Massachusetts, because large
part of the increase in wealth is the adj
vance of lands. If 1000 inhabitants be
added to the city of Boston the value of
city lots will hardly be affected; but if
1000 inhabitants be added to new county
in Indiana, or to any farming region, it
will cause a material increase in the value
of land.
1t may also be suggested that there was
some particular cause why Indiana should
have advanced in this way, and that the
proposition would not hold true with
other states. There is no room what
ever for such an explanation.
The rule will hold good
in any comparison of agricultural states
with manufacturing states. If we take
our neighbors, Illinois and Ohio, for ex-
amples, we find that they prove 1t with
even greater clearness than Indiana, for
Ohio increased 100 per cent. in per capita
wealth from 1850 to 1860, and only an
average of 40 per cent. in the two decades
succeeding; while Illinois increased 17S
per cent in the first decade and only %
difference in rates OF increase, which is
due partly to population, and partly to
the fact that with the building of railroads
the prairie lands of Illinois were more
quickly brought under cultivation than
the wooded lands of Ohio and Indiana,
and consequently rose in value more rap
idly
While these official statistics demon
strate that the tariff is constantly enrich
ing the manufacturing states at the ex-
pense of the agricultural states, they do
not make the case as strong as it actually
is, for the reason that the apparent
wealth of Indiana is much greater than
its true wealth. Take, for instance, the
item of railroads. The total valuation of
railroad property for Indiana in 1886 was
$50, pa, $50, but how much Of thisis owned
in Indiana? l know of but one railroad
that enters the state which has controll-
ing interest owned in Indiana and that's the
Terre Haute & indianapolis railroad, con-
trolled by Mr.. W. H McKeen. There may be
some small lines owned, or partially owned,
here, but it is notorious that all the main
lines are owned by outside parties and
usually by Eastern men. If We estimate
the entire amount owned in Indiana at
S6,000,000, which is very liberal, we should
IeAAA 'tetNO 81 ~ tttiAtA A'HA
in 1880 was l,97S,30l OF our stated wealth
which is not in fact our wealth at all. A
still greater reduction should be made for
the mortgages on Indiana lands in favor
OF non-residents. The total land valuation
OF the state (aSsessed) in 1880 was $685.
6S3, 239, and if the amount of mortgage in
debtedness should be put at one-tenth of
this sum, which is a very low estimate, we
would take another S25 per capita from
the official figures. In addition to private
Indebtedness we have a public debt of
about S25 100000 Estate and locaD which
calls for further reduction of $3.50.
When it is remembered that these rail-
roads and debts are nearly all held by
Eastern capitalists, it will be seen that our
growth as compared with the 'manufact-
uring states is very unsatisfactory in
deed.
Perhaps the worst feature of this accu-
mutation OF wealth in the Eastern states 1t
our expense is that there is nothing like a
fair distribution Of the wealth when il gets
there. Ii half or two-thirds Of Mr.. Carne-