St. Paul daily globe., 1888-02-10
greeted with cheers that resounded
through the entire building. When
nrlaI ind hnuIl cfnrnd

greeted with cheers that reSonnded
through the entire building. When
order had been restored
SHERMAN SPOKE AS FOLLOWS:
''Referring to the Home Market
club | like the name for it describes
word Home you mean your whole
country. You use the phrase Home
Market to distinguish it from foreign
market, not to exclude the foreign mar
ket, but to emphasize your preference
for home market as infinitely greater.
more valuable, more product
i've than the foreign market.
When l think of the contrast
between our lt6me market and the for
eign market, in magnitude and proper
tiOns, the universal benefits of one and
the competitive unimpOrtance of the
other, l am led to wonder why so many
gentlemen of education and character
are willing to endanger the wonderful
development of our home industries to
increase our foreign competition. L
believe the best we can do for mankind
is to do the best for our country"
Mr.. Sherman attacked Mr.. Lowell for
his speech at the Tariff Reform league
banquet. He found but very little in
his remarks about the tariff, but good
deal about President Cleveland. Said
Mr.. Sherman: 'Mr. Lowell. who has
been honored by the great party with
its confidence and trust, places Cleve-
land above Grant, the great soldier of
our country; above Mr.. Hayes, who
certainly gave to our country an excel
lent administration, and Mr.. Lowell
himself; above Garfield, one of the
most accomplished of American states
men; and above Mr.. Arthur. in every
respect model gentleman and prudent
&ni able president"
Speaking of President Cleveland's
policy, the senator. said:
1.-The inevitable effect is to increase
impOrtatlOns at the expense and loss of
our home market, and especially to re-
duce the wages OF all engaged in indus
tries competing with foreign prOduc-
ton. His message creates alarm among
the business men at home and gives joy
and hope to every market in Europe"
Referring to the surplus, Mr.. Sherman
remarked: ''The surplus is a great deal
better than deficit. 1t has been grow
ing since the close of the war. 1t has
enabled us to perform the grand feat
OF rapidly reducing the public debt,
policy which has excited the
admiration of the greatest states
men of Europe. This growing
surplus was bequeathed to Mr.. CleVe-
land by his predecessors, and was ap-
piled by them to the payment of the
debt and to repeated reduction of taxes.
1t is rational and steady result of our
growing out of the policy of protection
to home Industries. Our friends may
be surprised that the surplus revenue
did not stop with the election of Dem
Ocratic president, and perhaps it will if
his advice is followed. Certainly it will
be if he checks the prosperity which
enables US to import goods and pay
taxes.
But why is not this surplus applied
to the payment of the public debt?
Whose fault is it that it accumulateS in
the treasury? Plainly the fault of Mr..
Cleveland, whose secretary of the treas
ury is authorized to apply this surplus
at any time to the reduction of the pub
lie debt. 1t he had followed the example
of his predecessors he would, weekly or
monthly, without proclamation or noise,
have purchased and retired the public
debt under the main provisions of the
existing law. But if the president
preferred to reduce the surplus by
reduction of the taxation, why did he
not apply to congress to diminish tax
alton without disturbing home produc-
tionS? l know that at any time in the
last congress the taxation could have
been reduced but for the desire of the
speaker of the house and the president
to strike at the home industries rather
than to reduce taxation. Hungry
mouths of wOrkingmen, engaged in the
varied pursuits in every part of the
country. furnish the best market for
their productions.
And you in New England, even your
professors and free traders. will learn
that the steady demand made by mill
ions of your cOuntrymen in the West
and South for textile and metallic fab
RIGS furnishes you hundred fold better
market than you can find in the over
stocked markets of Europe and Asia.
If you join in breaking down this sys-
tenn in order to increase your foreign
market for manufacturers from 2 to even
10 per cent, you will destroy the goose
that lays the golden egg. You may
ask me what have to say about tariff
in favor of tariff reform, always have
been and always will be. How would
reduce the surplus. l answer frankly
the tariff ought to be carefully revised,
with view to correct any
inequalities or incongruities that
have grown out of the change of
values since the passage of the act of
1888; that every imported article which
does not compete with our domestic in
duStry, and is essential to the comfort
and wants of our people, should be
placed upon the free list; that every
raw material OF industry which does not
compete with our own productions
should be especially selected for the
free list; that whenever any industry
which can be conducted in this country
with reasonable success needs moder-
ate increase of duty for its protection"
Hon. Nathan GOff, ,Jr., of West Virgini a,
was introduced as the last speaker. He
heartily Endorsed the opinion of the pre-
viOus speakers. In commencing his re-
marks and relative to protection said
that he believed i'll high protective
tariff, in home market for home capi-
tai, in home market for home labor
and in home market for home indus
tries. This cOnntry has been afflicted
with the curse of slavery, but it should
not be cursed with a tariff that would
bring on slavery. We have the grand
est market in the world, and what mar
ket are you searching for if you indorse
Cleveland'S message?
AT the conclusion of the speech re-
peated cheers were given for the hon
ored guests of the evening and the
gathering dispersed.
CORBIN'S ANSWER.