Southern standard. (McMinnville, Tenn.) 1879-current, 1888-09-15
people are not Of immediate impor-

financial transactions. In restless en-
terprise and activity, which free and
ready money among the people pro-
duces, is found that opportunity for
labor and employment and that i'm
petus to business and production
which bring in their train prosperity
to our citizens in every station and
vocation.
The president then discusses more
specifically the evils resulting from
the retirement Of the circulating me-
dunn to all glasses and resulting in a
check to speculative enterprises, and
continues: 1t is quiet apparent that
when this perfectly natural, if not in
durable stage is reached, depression
in all business and enterprises will,
as necessary consequence, lessen the
opportunity for work and employ
ment and reduce the salaries and
wages of labor. Instead, then, of
being exempt from the influence and
effect of the immense surplus lying
idle in the national treasury, our
wage-earners and others who rely
upon their labor for support are most
of all concerned in the situation.
Others, seeing the approach of dan
germany provide against it,but it will
find those depending upon their daily
toll for bread unprepared and de-
fenceless. Such state of affairs does
not only present the case of idleness
resulting from disputes between the
laboring man and his employer, but
it produces an absolute and enforced
stoppage of employment and wages.
In reviewing the bad effects of this
accumulated surplus, and the scale of
tariff rates by which it is produced,
we must not overlook the tendency
toward the gross and scandalous pub
lie extravaganza which a congested
treasury induces, nor the fact that we
are maintaining without excuse, in a
time of profound peace, substantially
the rate of tariff duties imposed in
time of war, when the necessities of
thegovernment justified the imposi-
ton of the weightiest burdens upon
the people. ..,..
Divers plans have been suggested
for a revision of this accumulated
surplus to the people and channels of
trade. Some of these devices are at
variance with all rules of good
finance; some are delusive, some are
absurd, and some betray by their
reckless extravaganza the demoraliz-
ing influence of great surplus ofpub-
lie money upon the judgements of in
dividuals. We do not propose to deal
with these conditions by merely at
tempting to satisfy people of the truth
of abstract theories, nor by alone urg-
ing their assent to a political doctrine.
We present to them propositions that
they are unjustly treated in the eX-
tent of present federal taxation; that
as result q condition of extreme
danger exists and that it is for them
to demand the remedy and that de.
fence and safety promised in the
guarantees of their free government
We believe that the same means
which are adopted to relieve the
treasury of its present surplus and
prevent its recurrence should cheap.
en- to our people the cost of supplying
their daily wants. Both of these OBJ
jects we seek, in part, to gain by re.
ducing the present tariff rates upon
the necessaries of life. We fully APP
preciate the importance to the coun'
try of our domestic industrial enter.
prises. In rectifying existing wrong:
their maintenance and prosperity
should be carefully and in a friendly
spirit considered. Even such reli
ance, upon the present revenue ar
ran gements as has been invited OF
encouraged should be fairly and just
ly regarded. ABRUPT and radica
changes which might endanger such
enterprises and injurously effect thu
interests of labor dependent upor
their success and continuance are moi
contemplated or intended. But VIZ
know the cost of our domestic manu-
featured products is increased ant
their price to the consumer advanced
by the duty imposed upon the raw
material used in their manufacture
We know that this increased cost
prevents the sale of our productions
at foreign markets in competition
with those countries which have tn,
advantage of free raw material. W.
know that confined to a home mar
ket our manufacturing operations ar